Altcoin refers to any cryptocurrency other than Bitcoin. Bitcoin is the first and most well-known cryptocurrency, often referred to as digital gold. Blockchain is a decentralized ledger that records all transactions. Burning is the permanent removal of some coins from circulation to increase their value. A cold wallet is offline storage of crypto coins for extra security, such as Ledger Nano or NGRAVE Zero.
Consensus mechanism is the method by which a network reaches agreement on the validity of transactions, such as Proof of Work or Proof of Stake. Cryptography is the science of encrypting and decrypting information. A DApp (Decentralized Application) is an application that runs on a decentralized network like Ethereum. DeFi (Decentralized Finance) refers to financial services without traditional intermediaries like banks. Ethereum is a platform for decentralized applications and smart contracts, and is the second largest cryptocurrency.
An exchange is a platform where you can buy and sell crypto coins. Fiat is traditional money issued by a government, such as euros or dollars. FOMO (Fear Of Missing Out) is the fear of missing profit opportunities, often leading to impulsive purchases. Gas fees are transaction fees on the Ethereum network. A halving is a four-yearly event where the reward for mining new blocks is halved, usually with Bitcoin. HODL stands for Hold On for Dear Life and refers to holding onto your crypto for a long time despite price fluctuations.
A hot wallet is a crypto wallet connected to the internet. An ICO (Initial Coin Offering) is a crowdfunding method for new crypto projects. KYC (Know Your Customer) is a process by which a cryptocurrency exchange verifies the identity of its users. Market cap is the total market value of a cryptocurrency calculated by multiplying its price by the number of coins in circulation. A memecoin is a type of cryptocurrency based on an internet meme or joke. The best-known example is Dogecoin, which was once hyped by Elon Musk.
Mining is the process of validating transactions and creating new coins. Mixers are services that disguise the origin of crypto coins by mixing coins from different users. A node is a computer that stores a copy of the blockchain and helps maintain it within the network. NFT (Non-Fungible Token) is a unique digital asset that represents ownership and authenticity. A private key is a secret code that gives access to your crypto. Privacy coins are designed to enable completely anonymous and untraceable transactions, protecting user privacy. Examples include Monero and Zcash.
Proof of Stake (PoS) is a consensus mechanism where individuals are chosen to approve transactions based on the number of coins they own and stake. Proof of Work (PoW) is a consensus mechanism that requires miners to solve complex mathematical problems to validate transactions. A public key is a public address where you can send crypto coins, similar to a bank account. Pump and dump is a strategy in which the price of a cryptocurrency is artificially inflated and then sold for a profit.
Satoshi is the smallest unit of bitcoin, named after its founder Satoshi Nakamoto. A smart contract is a self-executing contract where the terms of the agreement are written directly into the code. Stablecoins are cryptocurrencies that are pegged to a stable asset, such as the US dollar. Staking involves temporarily locking up crypto coins to support the network and earn rewards. Satoshi Nakamoto is the pseudonym of the anonymous person or group that created Bitcoin. A token is a digital unit of value issued on a blockchain. A wallet is a digital wallet for storing crypto coins. A whale is someone who owns a large number of crypto coins. A whitepaper is a document providing detailed information about a specific crypto project, intended to inform investors and users.