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Cryptocurrency Terminology

General Crypto Terms


A digital currency use uses cryptographic technologies to secure their operation


Crypto Asset:

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. 


Decentralized Marketplace:

Allows traders to trade with each other without any middlemen, requiring no intermediaries to make trades possible.

Crypto Wallet Types

Software Wallets: 

Provides online storage of your cryptocurrency. Utilizes both your public and private key. 


Hardware Wallets:

Typically resembles a USB stick - stores your cryptocurrencies externally from a software program. 


Hosted Wallet:

A crypto wallet hosted by a third party.


Multisig Wallet:

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.


Deterministic Wallet:

Cryptocurrency wallet in which keys and addresses are created from a single seed.


Mobile Wallet:

A crypto wallet stored on a mobile device.


Hot Wallet:

A wallet that is connected to the internet for the storage of the crypto assets (unlike cold wallet).


Cold wallet: 

The offline storage of cryptocurrency, including things like USB’s, offline computers or paper wallets.


Paper Wallet:

A physical paper document containing your private key or seed phrase.


Core Wallet: 

A wallet that contains an entire bitcoin chain, versus just a piece of a bitcoin chain.

Additional Terms

Exchange Traded Fund (EFT):

A security that tracks a basket of assets (stocks, bonds, cryptocurrency) and can be traded like a single stock.


Digital Signature:

Method for providing authenticity on online communication.


Private Key:

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. 


Seed Phrase:

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.


Recovery Seed: 

A cryptographically derived security code between 12 and 14 random words used to recover accounts


Security Token: 

A digital form of security


Satoshi Nakamoto:

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)

We endeavour to provide accurate information, but if you should notice an error, please email us at so we may correct it!

Last updated December 2021

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