General Crypto Terms
A digital currency use uses cryptographic technologies to secure their operation
A digital asset that uses cryptographic technologies to maintain its operation as a currency
Crypto Address (or public address):
A cryptographic code used to facilitate transfers of cryptocurrencies,, in the form of a string of numbers and letters. This is unique to each crypto holder and is the public address used to send and receive cryptocurrency.
Allows traders to trade with each other without any middlemen, requiring no intermediaries to make trades possible.
Crypto Wallet Types
Provides online storage of your cryptocurrency. Utilizes both your public and private key.
Typically resembles a USB stick - stores your cryptocurrencies externally from a software program.
A crypto wallet hosted by a third party.
Require more than one signature to sign (authorize) a transaction.
Multicoin (multichain) Wallet:
Allows users to keep more than one crypto asset belonging to multiple blockchain networks.
Cryptocurrency wallet in which keys and addresses are created from a single seed.
A crypto wallet stored on a mobile device.
A wallet that is connected to the internet for the storage of the crypto assets (unlike cold wallet).
The offline storage of cryptocurrency, including things like USB’s, offline computers or paper wallets.
A physical paper document containing your private key or seed phrase.
A wallet that contains an entire bitcoin chain, versus just a piece of a bitcoin chain.
Exchange Traded Fund (EFT):
A security that tracks a basket of assets (stocks, bonds, cryptocurrency) and can be traded like a single stock.
Method for providing authenticity on online communication.
Only known by the user. Allows a person sole access and control over their cryptocurrency. Your private key proves ownership and authorizes transfer to and from your account.
This is the starting point when deriving keys for a deterministic wallet. Security feature used by software and hardware wallets (storage “facilities” of cryptocurrencies) that allow users to recover lost cryptocurrency.
A cryptographically derived security code between 12 and 14 random words used to recover accounts
A digital form of security
The individual, or group that created Bitcoin
Non-Fungible Token (NFT):
Crypto currency without the property fungibility– meaning (meaning they cannot be traded at equivalency because there is identification codes and metadata that distinguish them)
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Last updated December 2021