CryptoCurrency Terms

Altcoins

alternative cryptocurrency to Bitcoin

Bitcoin (BTC)

type of digital currency in which a record of transactions is maintained and new units of currency are generated

Blockchain

system in which a record of transactions, especially those who made in a cryptocurrency

Cryptocurrency

a digital currency designed to work that is not reliant on any central authority

Cryptography

the art of writing or solving codes

Crypto Exchange

A business that allows customers to trade cryptocurrency or digital currencies or other assets

decentralized

(activity or organization) controlled by several offices or authorities rather than one single one

Digital Currency

A transition from traditional money to a form that exists solely in electronic form

Digital Wallet

An electronic device, online service or software program that allows one party to make electronic transaction

Ethereum (ETH)

Public software platform that uses blockchain technology to enable peer-to-peer transaction and applications

Fiat

A formal authorization or proposition

Flat Currency

Type of govt issued currency that is not back by a precious metal

Metaverse

A virtual reality space in which users can interact with a computer-generated environment and other users

Mining

Process by which bitcoin transactions are validated digitally on the bitcoin network and added to the blockchain ledger

Non-Fungible Token (NFT)

A unique digital identifier that is recorded on a blockchain and is used to certify ownership and authenticity

Payment Coin

Type of digital currency that allows people to make payments directly to each other through an online system

Security Coin

A digital asset that represents ownership or participation in a real world asset

Stable Coin

Any cryptocurrency designed to have a relatively stable price, typically through being pegged to a commodity

Utility Coin

Type of token that is used to access a particular product of service within a blockchain-based ecosystem

Virtual Currency

Digital currency that is typically unregulated issued and usually controlled by its developers