A
Altcoin – any cryptocurrency other than Bitcoin.

B
Bitcoin – the original, largest and best-known cryptocurrency.
Blockchain – a decentralized, digital ledger that records transactions across a network of computers.
Buy the dip – the notion of buying cryptocurrencies when prices have fallen to reap the benefits when
they rise again.

C
Cryptocurrency – a digital or virtual currency that uses cryptography for security.
Coin – a colloquial term for cryptocurrency. See also: altcoin, memecoin.
Cold wallet – a physical storage device such as a flash drive, hard drive or solid-state drive used to store
cryptocurrency offline.

D
dApp – a decentralized application (dApp) is one that isn’t controlled by a central authority.
Decentralized – a system or network where no single entity controls all the data, making it more secure
and resistant to censorship.
Defi – short for decentralized finance.

E
Exchange – A website or app that allows users to buy and sell crypto assets.

F
Fiat – refers to traditional, state-backed currencies like Sterling, euro and US Dollar.
FOMO – Fear of Missing Out, a common psychological phenomenon where investors buy assets out of
fear of missing out on potential gains.
Fork – a split in the blockchain resulting in two separate chains, either due to software updates or
differences in opinion among the community.

G
Graphics card – Verifying a transaction on a blockchain involves solving a cryptographic problem.

H
Hash Rate – the speed at which a miner can verify transactions and create new blocks in the blockchain.
HODL – Hold On for Dear Life, a term used by cryptocurrency investors who hold onto their assets long-term, regardless of market fluctuations.

I
ICO – Initial Coin Offering, a type of fundraising using cryptocurrencies, where investors receive tokens
or coins in exchange for their investment.

J
Jager – the smallest denomination of the Binance cryptocurrency.

K
Know Your Customer (KYC) – exchanges are obliged to carry out certain identity checks on their
customers under ‘Know Your Customer’ rules.

L
Ledger – a record of transactions, including times, dates, senders and recipients.

M
Mining – the process of verifying transactions and adding them to the blockchain using powerful
computers.
Memecoin – An altcoin based on a meme, which is a kind of inside joke in the form of an image that’s
repeatedly altered and shared online.

N
NFT – A Non-Fungible Token is a digital collectible that uses the same underlying technology as
cryptocurrencies.

O
On-ledger currency – a token that is both minted by and used on a blockchain, such as Bitcoin.

P
Private Key – a secret code that allows users to access and manage their cryptocurrency.
Public Key – a code that is available to anyone and allows others to send cryptocurrency to the user.

Q
Quantum computing – a field of computer science that uses principles of quantum physics to process
much larger data sets at much greater speeds than traditional, binary-based computing.

R
Regulated – a market in which players are obliged to follow certain rules of risk fines and/or the loss of
their operating licenses.

S
Satoshi – the smallest unit of measurement for Bitcoin, named after the pseudonymous creator of
Bitcoin, Satoshi Nakamoto.
Smart Contract – a self-executing contract with the terms of the agreement between buyer and seller
being directly written into lines of code.
Stablecoin – a cryptocurrency such as Tether, whose value is tied to another currency, commodity or
financial instrument.
Smart Contract – a self-executing contract with the terms of the agreement between buyer and seller
being directly written into lines of code.

T
Token – in crypto, a token is a unit of cryptocurrency other than Bitcoin or Ethereum – which are
technically also tokens.

U
Unregulated – Financial services in the UK are regulated, which means providers must abide by strict
rules designed to protect consumers’ interests.

V
Volume – the total amount of currency traded in a 24-hour period.
Volatile – a market in which prices frequently and unpredictably rise and fall

W
Wallet – a digital wallet stores the private keys needed to access and spend cryptocurrencies.

X
XRP – XRP is a kind of cryptocurrency token that runs on the Ripple blockchain.

Y
Yield – a return on investment, expressed as a percentage.

Z
Zero confirmation – a transaction that has been confirmed but has yet to be recorded on a blockchain.