Crypto Terms

for Beginners
  
A unique identifier used to Distributing cryptocurrency for Alternative cryptocurrencies to
send and receive cryptocur- free as a marketing strategy Bitcoin
rency

 

   
The highest or lowest price a cryptocurrency Buying and selling the same asset on two
has reached exchanges to profit from small price differences

   

Someone who missed an Someone who is pessimistic A digital currency launched in 2009
opportunity to sell at a high about the market or coin value that boomed the cryptocurrency
price and now owns low value market
cryptocurrency

    

A group of trans- A globally distributed digital Someone who is opti- Buying cryptocurrency
actions made in a record of transactions; mistic about the market when the price has
blockchain permanent and secure or asset value fallen

  

A digital wallet that is not A digital currency that uses The method of using code to
connected to the internet cryptography to secure wallets; convert information and communi-
often decentralized, though not cations into an unreadable format
always

  

No entity holds control over the A cryptocurrency and A platform to buy, sell, and invest
network; anyone can join (see decentralized computing platform, in cryptocurrency. Exchanges can
‘node’) and blockchain records launched in 2015 be centralized (Coinbase) or
are stored in many locations decentralized (Unstoppable)

   

  

When someone is concerned Negative sentiment about the Currency that is government
that they might miss a good market, usually spread in the issued legal tender, unlike crypto-
buying or selling opportunity media currency

  

A change in how the blockchain A physical device used for storing Transforming chunks of data into
operates that can be backwards cryptocurrency keys (usually USB unique text strings that are nearly
compatible (soft fork) or not connected) impossible to decipher
(hard fork)

  

Slang term for “hold”, to keep A digital wallet that is connected A method of raising funds for a
cryptocurrency instead of sell- to the internet new project in exchange for a
ing it token

     

The total number of coins in Unconfirmed transactions, held Using computer hardware to
circulation multiplied by individ- until they’re picked up by a process and validate cryptocur-
ual coin price node on the network rency transactions

  

Miners combining their mining A computer built specifically for When a cryptocurrency’s value is
rig power to increase the mining cryptocurrency, usually rapidly rising in a short period of
chances of closing the block containing high specification time
and receiving the reward for it components

  

A computer that connects to When two entities/devices Secret identifier that proves own-
the cryptocurrency network and communicate directly without a ership of a wallet
becomes one of the network third-party
participants

   

Method used to process trans- Method used to process trans- Generated by the private key and
actions, with miners having actions, requiring completion of turned into an address; generally
more control based on how complex mathematical equa- used to receive cryptocurrency
much cryptocurrency they hold tions by computers

     

Fraudsters spreading false info The pseudonym given to the The smallest unit of Bitcoin; one
to increase a cryptocurrency’s person or persons who created Bitcoin equals 100,000,000
value (pump), then cashing out bitcoin (their identity is satoshis
(dump) unknown)

  

Spreading fake news to A method of storing cryptocur- An abbreviation to identify a cryp-
increase the price of a crypto- rency keys within software files tocurrency (for example, “BTC”
currency on your computer or mobile for Bitcoin)
device

  

Used interchangeably with Movement of cryptocurrency Someone who owns lots of cryp-
“coin”. Technically, a subset of from one address to another tocurrency
cryptocurrency that has its own
blockchain and represents an
asset or utility


An authoritative document to
explain a new cryptocurrency