Listed below are some of the most popular terms and definitions for common cryptocurrency and blockchain technology phrases.  This is by no means comprehensive, but should give you all you need to know for basic research. You can use this glossary for basic definitions and the Bibliography, Links and Resources Page for further research.

All Time High (ATH): An All-time-high price of a cryptocurrency.

Altcoins: Alternative cryptocurrencies to Bitcoin. Examples: Ethereum, Litecoin, Dogecoin, etc.

Bag Holder: An unfortunate investor still holding a cryptocurrency after the coin/token price has crashed.

Bearish: A feeling based on some factors that the price of crypto will decrease.

Block: A group of standardised bundled-up, linked transactions that are verified by miners.

Block Reward: It is a reward in the form of native cryptocurrency given to miners for solving a computationally difficult problem. Bitcoin miners now get 12.5 BTC for solving each problem for adding blocks to the blockchain.

Blockchain: A universal public ledger of coin transactions.

Bitcoin: When the B is capitalised, it represents the overarching concept of Bitcoin: The technology, the community, the protocol, and the software. When the b is not capitalised, it normally describes the unit of currency.

BTC: Common abbreviations for bitcoin. There is no difference between these two abbreviations.

Bullish: A feeling based on some factors that the price of crypto will increase.

Cold storage: Cryptocurrency storage offline.

Crypto currency coin:  A currency with its own blockchain such as Bitcoin, Litecoin, Ethereum etc.

Crypto currency token: A cryptocurrency token uses someone else’s network.  For instance, Axie Infinity uses the Ethereum Network and ecosystem to operate.

Centralised Cryptocurrency Exchange: A website that helps one buy/sell cryptocurrencies.  Typical examples include Coinbase, Gemini, Huobi, Binance etc.

Cryptography: A branch of mathematics and computer science that supported the invention of cryptocurrencies.

Fiat: A regulated and centralised paper currency of a nation usually regulated by a Central Bank.

FOMO: Fear of missing out. The feeling you get when you want to get onboard a price rally.

FUD: Fear, Uncertainty, and Doubt related to the market.

Genesis Block: The very first block created on a blockchain.

Halving: It is the 50% reduction in block reward after a certain number of blocks are mined. In Bitcoin, the halving happens after every 210,000 blocks are moned.

Hard Fork: A software update or an update on the blockchain protocol that is not backward compatible.

Hash: A digital fingerprint of a fixed size produced by using a complicated hashing algorithm.

Hash Rate: This is the total computational power being used by a proof-of-work cryptocurrency network to process transactions. A high hash rate is an indicator of a network’s security because it shows a large number of miners are verifying transactions.

HODL: It is a crypto investment colloquialism that means hold. It means to keep your cryptocurrency investment.  A hodler ignores outside sentiments as much as possible and resists the urge to buy or sell.

ICO: Initial Coin Offering of new crypto coins or tokens offered to the general public in return for their fixed priced investments. It is a new way of decentralised crowdfunding.

Layer 0, 1 & 2 coins: This refers to the hierarchical level of complexity of the token or coin.  Layer 0 is a cross functional system or service between blockchains (e.g. the internet), Layer 1 is a proprietary ecosystem designed for its own services and applications (e.g. bitcoin or Ethereum). Layer 2 (often called the application layer) is a functional service that sits on a Layer 1 (e.g. the Lightning Network is a Layer 2 solution that improved bitcoins speed of transaction and efficiency). 

Limit Order (Limit Buy/Limit Sell):  Buy/Sell orders placed by traders to buy or sell a crypto-currency when the price meets their target amount. 

Mining: The process of computer hardware doing mathematical calculations for the Bitcoin network to confirm transactions and increase security. Users who use their computers and/or rent resources for mining are called miners.

NFT: Non fungible Token: An item on the blockchain that is unique.  E.g. a piece of digital art, video or data.  Commonly, it could be a character or player item in a computer game.  It can be traded on exchanges in the same way as a cryptocurrency.

P2P: Peer to Peer or person to person.

Private Key: A private key is a secret, alphanumeric password/number used to spend/send your bitcoins to another Bitcoin address.

Proof Of Work: A decentralised consensus mechanism that uses calculates a Hash by spending computational power.

Proof Of Stake: A decentralised consensus mechanism in which your existing cryptocurrency stake is used to mine or forge blocks to reach the consensus.

Public Key/address: This is another alphanumeric address/number which is derived from private keys and is used to publicly receive cryptocurrencies (including bitcoin).

Pump & Dump: Very positive price action (Pump) then very negative price action (Dump).

Recovery phrase/seed keyword: Random 12, 18, 24 or more words that are used to derive numerous pairs of private and public keys. Using these seeds, you can restore your wallet to any other supported seed key wallet.

Satoshi: A Satoshi is the smallest unit of Bitcoin. It is named after Satoshi Nakamoto, the creator of Bitcoin. Each BTC is divisible until the 1/10^8 part. A unit of Satoshi is equal to 0.00000001 bitcoin.

Soft Fork: A software update or an update on the blockchain protocol that is backward compatible.

Transaction fees: cryptocurrency transaction incentives that the miners receive for mining blocks or cryptocurrency on the respective blockchain. This is usually a small fee (except Ethereum fees) that the users pay to complete transactions.

Transaction ID: An alphanumeric string through which you can publicly see the transfer details (amount sent, sending/receiving coin address, as well as the date of transfer) on the blockchain.

Web3: An evolutionary period of the World Wide Web heralded with the advent of cryptocurrencies. Users of the internet can now not only read linked information on the web (Web1), write and interact with it (Web2) but they can also own and trade their personal data and funds (Web3). 

Whale: It refers to an entity or a person who holds an absurd amount of particular cryptocurrency and has the potential to manipulate the market.

Whitepaper: A report which articulates the problem and solution that the blockchain project/cryptocurrency is trying to solve.

You may also find the bibliography useful. I have linked various resources for you to continue your familiarisation with crypto and blockchain technology. How to Crypto Bibliography : CryptoNET: Bibliography, Recommended Reading & Resources.

Another useful crypto and blockchain glossary is: The Consensys.net Glossary

This article was put together by Tony Fawl of CryptoNET.

This page is part of the How to Crypto Web Series, an awareness course for beginners interested in blockchain projects and cryptocurrency investment. Please checkout the Bibliography and Glossary of Terms pages for other useful recourses and links. To find out what we do, checkout the About Us page.

Disclaimer: CryptoNET.org.uk is not a registered investment, legal or tax advisor or a broker or dealer.  All investment/financial opinions expressed by CryptoNET.org.uk are from the personal experiences of the owner of the website and are intended as educational and entertainment material. Best efforts are made to ensure that al information is accurate and up to date but we would still recommend that you do your own research before making investment decisions. 

If you have found this page useful, please consider a small donation to help fund the site:

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Thank you.

This is a crypto bibliography of links and resources used to help me put together this website and blog posts.  I add to it quite often so it’s always good to check back for new stuff once in a while. We have a wide range of links to checkout. All are regularly checked.

Book: The Bitcoin Standard (by Dr. Saifedean Ammous) is the essential resource for a clear understanding of the rise of the Internet’s decentralised, apolitical, free-market alternative to central banks.  It is the de facto learning resource for all those interested in rise and rise of Bitcoin. 

Website & Report: The excellent Messari.io website is truly an excellent one stop shop for news and info about crypto and the digital assets industry. The 2022 Massari Report is a ‘must read’ (it’s usually published each December – it’s also quite entertaining and well written (not too stuffy)). There are usually also some excellent predictions for crypto growth which are carefully reasoned.

TV Documentary: Cryptopia: Bitcoin, Blockchains and the Future of the Internet. Five years after his first documentary, award-winning producer/director Torsten Hoffmann revisits Bitcoin and sets out to explore the evolution of the blockchain industry and its new promise. It’s available on Prime (Amazon), Vimeo and YouTube (linked) but beware, the youtube video has adverts every few seconds and is almost unwatchable because of it.

Youtube Channel: Crypto Zombie.  Not a bitcoin maximalist but pretty close,  Researches and analyses crypto news from many different sources and consolidates them into an entertaining and interesting 15-20 minute segment 4-5 times per week.  I find myself checking this YouTube channel more than any other for new content.

YouTube Channel: This is a ‘Learn to Trade Crypto’ channel. MoneyZG is dedicated to useful finance information and education. Trading tutorials, how-to videos, useful financial content and information focusing on Cryptocurrency. He used to be a broker on the London Stock Exchange but now bow down to the YouTube gods. 

PDF Report: Central Bank Digital Currency: opportunities, challenges and design A report by the Bank of England on the opportunities for the populace that uses a CBDC.  A must read! 

PDF Report: Central bank digital currencies for cross-border payments A report by the World Bank Group and International Monetary Fund (July 2021. A well balanced explanation of how CBDCs could benefit cross border money transfers and a little of how they could be difficult to implement. (Downloadable from Bis.org – co-author)

Report: Central Bank digital currencies: features, options, pros and cons by Santiago Fernández de Lis and Olga Go

PDF: Bitcoin Whitepaper: The Original crypto whitepaper – A thing of beauty! This is the original whitepaper as it appeared in 2009.

Book: Bitcoin Billionaires by Ben Mezrich. This is the true story of the Winklevoss Twins after their Facebook stock settlement with Mark Zuckerberg and how they became the first Bitcoin billionaires.  This is actually a fun read!

Website: Unstoppable Domains: This is an Internet Domain registration website.  Unstoppable Domains utilises the benefits of Blockchain technology to allow you to register a domain as an NFT.  It’s then yours for life!  The .wallet domain allows you to register your public keys with the domain so that payments can be received by sending them to the .wallet address.  This is better than the rather convoluted crypto addresses which can be as long as 40 characters (e.g. if you wanted to send  me a bitcoin tip, you could simply send to tonyfawl.wallet – try it and see  🙂 )  

Exchange: Binance.com: The big daddy of Central Cryptocurrency Exchanges with $2Billion volume, 1.400.000 transactions per second and nearly 700 cryptocurrencies that can be traded.  The interface may be a little complicated, but this is a reliable exchange.

Exchange: Crypto.com: The new kid on the block and determines to take over as the best. Crypto.com has become popular not least because of the excellent credit/debit card service which allows you to load up your debit card with crypto and spend it as normal.

Hardware Wallet: Ledger Nano X: Secure, buy, exchange, grow your crypto and manage your NFTs with our new Bluetooth-enabled hardware wallet. All your digital assets – secured in one place. For security reasons, I personally would only buy this directly from the manufacturer.

Software Wallet: Metamask: Available as a browser extension and as a mobile app, MetaMask equips you with a key vault, secure login, token wallet, and token exchange—everything you need to manage your digital assets.

Website: The oft quoted Coinmarketcap is a well known resource in the cryptocurrency community for providing statistical information on just about all the crypto currencies that there are!  They also have lots of other resources raging from a Portfolio Tracker and Watchlist to the most popular NFT collections. 

Check back regularly for the latest cool links and resources.

This page is part of the How to Crypto Web Series, an awareness course for beginners interested in blockchain projects and cryptocurrency investment. Please checkout the Bibliography and Glossary of Terms pages for other useful recourses and links. To find out what we do, checkout the About Us page.

Disclaimer: CryptoNET.org.uk is not a registered investment, legal or tax advisor or a broker or dealer.  All investment/financial opinions expressed by CryptoNET.org.uk are from the personal experiences of the owner of the website and are intended as educational and entertainment material. Best efforts are made to ensure that al information is accurate and up to date but we would still recommend that you do your own research before making investment decisions. 

If you have found this page useful, please consider a small donation to help fund the site:

[crypto-donation-box]

Thank you.