Crypto Concepts Glossary
A glossary of terms and jargons related to Cryptocurrency, NFTs, and more.
$AVAX /ˈā-ˈvaks /
The native cryptocurrency of the Avalanche blockchain.
$BNB / ˈbē,-ˈen,-ˈbē /
Binance Coin. The utility token of the Binance Exchange.
$ETH / ˈē-thər /
Ether. The native cryptocurrency of the Etehreum blockchain.
$MATIC / ˈma-tik /
The native cryptocurrency of the Polygon network.
$USDC (USD Coin) / ˈyü,- ˈes,-ˈdē,-ˈsē /
USD Coin. It is a stablecoin pegged to the value of the US Dollar.
$USDT or Tether / ˈyü,-ˈes,- ˈdē,- ˈtē / or / tə-ˈthər/
Tether or USDT. A stablecoin that is pegged to the value of the US Dollar.
Advertiser (P2P) / ˈad-vər-tīz-er /
In Binance P2P Trading, this is how the other party of a transaction (seller or buyer) is called.
Advertiser List (P2P) / ˈad-vər-tīz-er / / ˈlist /
In P2P trading of Binance, the Advertiser list is where you can get to pick the buyer or seller of your assets.
Advertiser or Seller or Buyer (P2P) / ˈad-vər-tīz-er / / ˈse-lər / / ˈbī(-ə)r /
In P2P trading of Binance, the advertiser or seller or buyer is the one you'll directly interact with for buying or selling your assets.
Airdrops / ˈer-ˌdräp /
In the context of crypto scams, these are attempts to gain trust or infiltrate accounts by sending malicious airdrops of unfamiliar projects.
Alphanumeric Key (Set Up Key) / ˌal-fə-nu̇-ˈmer-ik , -nyu̇- / / ˈkē /
In the context of authentication, an alphanumeric key is a set of characters consisting of both letters (A-Z) and numbers (0-9).
Altcoins / ˈȯl-t-ˈkȯin /
Coins derived after Bitcoin's model with minor alterations to solve its limitations. Shortened term for alternative coins.
Antivirus Application /ˈan-tē-ˈvī-rəs/ / ˌa-plə-ˈkā-shən /
A software that scans existing and incoming files to block malware.
ApeSwap / ˈāp-ˈswäp /
A DAO that offers tools engaging with BNB Chain and Polygon.
Asset Custody / ˈa-ˌset / / ˈkə-stə-dē /
In the context of cryptocurrency exchanges, this is where or who holds the assets when an exchange happens.
Avalanche / ˈa-və-ˌlanch /
An open-source, decentralized blockchain that has smart contract functionalities and employs Proof of Stake as its consensus protocol.
Bad Actors / ˈbad / / ˈak-tərs /
In context of crypto scams, bad actors are people who pretend to be personalities/moderators to get your information or send phishing links
Binance / ˈbī -nən(t)s /
Binance is an example of a cryptocurrency exchange.
Binance wallet / ˈbī -nən(t)s / / ˈwä-lət /
Binance wallet is an example of a custodial wallet. It is offered by Binance, a centralized cryptocurrency exchange.
Biswap /ˈbī-swäp /
A decentralized exchange hosted on Binance that allow users to exchange tokens created on the BNB Smart Chain
Bitcoin ($BTC) / ˈbit-ˈkȯin /
The first decentralized digital currency intending to provide an alternative payment system without the presence of a central authority. This spearheaded the growth of cryptocurrency.
Block explorer / ˈbläk / / ik-ˈsplȯr-ər /
A search engine where real-time and historical information about a blockchain can be found. Blocks, transactions, and addresses can also be searched here.
Blockchain / ˈbläk-ˈchān/
Blockchain, sometimes known as Distributed Ledger Technology (DLT) is a public digital ledger or database distributed across an entire network of computers.
Blockchain Games / ˈbläk-ˈchān/ / ˈgāms /
Games that utilize blockchain technology to allow players trade in-game items, resources, and tokens. Also known as NFT games or crypto games.
BNB Chain / ˈbī -nən(t)s / / ˈsmärt / / ˈchān /
Also known as the Binance Smart Chain. It is a popular custom network that can be added in Metamask and a blockchain that runs smart contract operations.
BUSD (Binance USD) / ˈbē,-ˈyü,-ˈes-ˈdē /
Binance USD. A stablecoin pegged to the value of the US Dollar.
Centralized Exchange (CEX) / ˈsen-trə-ˌlīz-d / /ˈeks-ˌchānj-es /
A crypto exchange site that functions like a service platform and a middleman by connecting buyers and sellers who want to exchange their tokens.
Centralized Data / ˈsen-trə-ˌlīz-d / / ˈdā-tə /
A nature of storing data at a fixed location or in a single server owned by an entity/a company. This is how data is stored in Web2.
Chain ID / ˈchān / / ˈī-ˈdē /
In blockchains, this is one of the two identifiers of each network. Each transaction is signed through this.
Coinbase / ˈkȯin-ˈbās /
The largest US-based cryptocurrency exchange site. It allows users to trade and exchange cryptocurrencies.
Circulating Supply / ˈsər-kyə-ˌlāt-iŋ / / sə-ˈplī /
The total number of an asset currently available in the market.
Coins / ˈkȯins /
Digital money used to purchase assets on Web3.
Compatibility / kəm-ˈpa-tə-bi-lə-tē /
In the context of choosing crypto wallets, compatibility is the factor to take into account if your chosen wallet can or can’t support the cryptocurrencies you have or will be having.
Continuous Monitoring / kən-ˈtin-yü-əs / / ˈmä-nə-tər-iŋ /
Refers to financial organizations' ongoing surveillance of their customers' transactions for suspicious or unusual conduct.
Contract Address / ˈkän-ˌtrakt / / ə-ˈdres /
The address where the smart contract that manages the token is stored. This varies for each network.
Crypto / ˈkrip-(ˌ)tō /
A shortened term pertaining to cryptocurrency.
Crypto Amount or Available (P2P) / ˈkrip-(ˌ)tō / / ə-ˈmau̇nt / or / ə-ˈvā-lə-bəl /
Crypto Amount or Available in P2P trading is the amount of the currency they currently have.
Crypto Wallet / ˈkrip-(ˌ)tō / / ˈwä-lət /
An app or device that allows the user to interact with a blockchain through transactions. It also lets the user store digital assets (like tokens of NFTs), establish identification as the wallet owner, and sign legal documents or encrypt information.
Cryptocurrency / ˈkrip-(ˌ)tō-ˈkər-ən(t)-sē /
A digital currency used as a way of exchange. Digital money. Also known as Crypto.
Cryptocurrency Exchange / ˈkrip-(ˌ)tō-ˈkər-ən(t)-sē / /ˈeks-ˌchānj /
A website or platform that hosts buying and selling of digital currencies. It also allows trading of one crypto for another (e.g. changing Bitcoin to Ether), buy and/or sell crypto with fiat currency, or exchange in-game fungible tokens to another cryptocurrency or fiat currency.
Cryptography / ˈkrip-(ˌ)tō-grə-fē /
A secure communication technique that allows only the sender and intended recipient of a message to view its contents.
Currency Symbol / ˈkər-ən(t)-sē / / ˈsim-bəl /
The shorthand used to denote cryptocurrencies.
Custodial Wallets / ˌkə-ˈstō-dē-əl / / ˈwä-ləts /
Wallets with private keys held by a third party and are typically offered by a centralized business such as a cryptocurrency exchange. e.g. Binance wallets, Coinbase wallets
Customer Due Diligence / ˈkə-stə-mər / / ˈdü / / ˈdi-lə-jən(t)s /
The extensive risk assessment and examination conducted by financial institutions.
Customer Identification Program / ˈkə-stə-mər / / ī-ˌden-tə-fə-ˈkā-shən / / ˈprō-ˌgram /
A program that verifies a customer's identity by requiring identifying information and documents.
Cyberattacks / ˈsī-bər-ə-taks /
Malicious, deliberate, and unwanted attempts that put digital assets at risk.
DAO / ˈt͟hau̇ /
A decentralized, autonomous group of like-minded individuals who chose to operate primarily in the web3 or cryptocurrency space.
Decentralized Apps (dApps) / (ˌ)dē-ˈsen-trə-ˌlīz-d / / ˈaps /
Applications that are built and operated on a blockchain system through smart contracts, which makes them decentralized and autonomous.
Decentralized Data / (ˌ)dē-ˈsen-trə-ˌlīz-d / / ˈdā-tə/
The nature of storing data in multiple computers or nodes simultaneously. These nodes make up the system that makes blockchain technology possible. This makes the data less prone to crashes and massive security breaches.
Decentralized Exchange (DEX) / (ˌ)dē-ˈsen-trə-ˌlīz-d / /ˈeks-ˌchānj-əz /
A crypto exchange site that coordinates cryptocurrency trading on a large scale, using a similar business model to traditional systems like stock exchanges. This does not require a third party, since transactions are direct and handled by smart contracts.
Decentralized Finance / (ˌ)dē-ˈsen-trə-ˌlīz-d / / fə-ˈnan(t)s /
A mechanism where financial transactions are direct and handled by smart contracts. It offers endless prospects because it is open, borderless, and permissionless,
Developers' Credibility / di-ˈve-lə-pərs / /ˌkre-də-ˈbi-lə-tē /
The credibility and the transparency of the team developing the project in their plans and transactions
Direct Messages / də-ˈrekt / / ˈme-sij-əz /
In the context of crypto scammers and frauds, direct messages are a way to trick you by scammers connecting with you on messaging platforms to impersonate and gain your trust.
Distribution Plan / ˌdi-strə-ˈbyü-shən / / ˈplan /
The release plan and timeline for the tokens that are yet to be distributed.
Electrum Wallet / i-ˈlek-trəm / / ˈwä-lət /
Electrum wallet is an example of a wallet that can only store Bitcoin and nothing else.
Ethereum / ˈē-thər-ē-əm /
A decentralized computing technology powered by the blockchain. It not only allows for monetary transactions, but also has smart contract capabilities which makes it possible to construct decentralized apps (dApps) and host DAOs.
Exchange / iks-ˈchānj /
A platform that hosts trading of stocks, futures, and other financial products.
Express / ik-ˈspres /
Express is one of the options in P2P trading in Binance where the system will automatically choose where you sell your assets.
Facial Recognition / ˈfā-shəl / / ˌre-kig-ˈni-shən /
Facial Recognition is the step in which you'll be taking a photo in-app and on the spot, adding a layer of security and confirmation of your identity in verifying your Binance account.
Fiat Currency (Fiat) / ˈfē-ət / / ˈkər-ən(t)-sē /
A currency issued, controlled, and regulated by a central government.
Funding Wallet / ˈfənd-iŋ / / ˈwä-lət /
In Binance, this is where a user's total balance of cryptocurrencies from P2P transactions is reflected.
Fungible Token / ˈfən-jə-bəl / / ˈtō-kən /
Tokens that can be traded for one another, e.g. cryptocurrencies.
Gas Fee / ˈgas / / ˈfē /
The payment required to make transactions or execute contracts on blockchains that employ Proof of Stake, like the Ethereum network.
Google Authenticator / ˈgü-gəl / / ə-ˈthen-ti-ˌkāt-ər/
An authentication application designed by Google for two-step verification. This is compatible with and recommended for Binance accounts.
Governance Token / ˈgə-vər-nən(t)s / / ˈtō-kən /
Tokens primarily used to vote for proposals within the DAO.
Hardware Wallet / ˈhärd-ˌwer / / ˈwä-lət /
A physical device that serves as an offline storage of private keys for crypto assets. Also known as cold wallets.
Hardware Token / ˈhärd-ˌwer / / ˈtō-kən /
A two-factor authentication (2FA) device that generates a numeric code every 30 seconds.
Holders / ˈhōl-dərs /
Token owners and the corresponding amount of token they are holding.
In-Game Fungible Tokens / ˈin-ˈgām / / ˈfən-jə-bəl / / ˈtō-kəns /
Non-NFT tokens that are usually given as rewards within blockchain games.
Investment Scams / in-ˈves(t)-mənt / / ˈskams /
Scams that trick people in the crypto space by luring them to invest in projects with a promise of a large, guaranteed return.
KYC / ˈkā,-ˈwī,-ˈsē /
Know Your Customer/Client; A series of procedures for validating a customer's identity before or during dealings with banks and other financial institutions.
Limit (P2P) / ˈli-mət /
In Binance P2P trading, this is the minimum and maximum amount of assets an Advertiser is willing to purchase or sell a certain currency.
Liquidity / ˈli-kwəd-ə-tē /
The ability of an asset (mostly a coin) to be converted into fiat or other forms of cryptocurrency.
Liquidity Pool / ˈli-kwəd-ə-tē / / ˈpül /
The vault where people deposit their assets and lock them in order to form a market.
Malware / ˈmal-ˌwer /
Files and codes developed by bad actors to harm, exploit, or steal data and/or assets. This infiltrates devices through downloaded files from unsafe sources and/or suspicious links.
Market Cap / ˈmär-kət / / ˈkap /
The total value of an asset with all of its available supply, i.e. Value x Circulating Supply
Max Supply / ˈmaks / / sə-ˈplī /
The maximum amount of an asset that will ever exist in the lifetime of the project
MetaMask / ˈme-tə-ˈmask /
A non-custodial wallet that supports a variety of large blockchain networks, like Ethereum, Binance Smart Chain, and Polygon.
Merit Circle / ˈmer-ət / / ˈsər-kəl /
A DAO that focuses on building and revolutionizing the gaming community online. The decisions within the DAO are made by people who hold the governance token, $MC token.
Minting/Mint / ˈmint-iŋ / or / ˈmint /
The process of creating crypto assets by authenticating data, generating new blocks, and recording the information on the blockchain through a consensus protocol (Proof of Stake).
Money Laundering / ˈmə-nē / / ˈlȯn-dər-iŋ /
The processing of financial assets obtained illegally to avoid detection.
Nature of Transactions / ˈnā-chər / /ˈäv / / tran-ˈzak-shəns /
A factor in how the transactions within a specific cryptocurrency is done.
Non-Custodial Wallets / (ˈ)nän-kə-ˈstō-dē-əl / / ˈwä-ləts /
Non-custodial wallets (e.g. Metamask wallet), on the other hand, give you full control and ownership over your digital assets.
NFT / ˈen,ˈef, ˈtē /
Non-fungible Token; A unique digital asset (pictures, videos, animated GIFs, audio tracks or albums, internet domains, or any other piece of data) stored on a blockchain. Some NFTs also represent physical objects.
NFT Marketplace / ˈen,ˈef, ˈtē / / ˈmär-kət-ˌplās /
A digital platform for buying, selling, and trading NFTs.
One-time Passcode / ˈwən / / ˈtīm / / ˈpas-ˈkōd /
A two-factor authentication (2FA) mechanism where a unique, numeric code required to login is generated.
OpenSea / ˈō-pən-ˈsē /
A decentralized marketplace for NFTs.
Ownership / ˈō-nər-ˌship /
A feature of web3 that allows the general public to own the data or a portion of a platform. They can also take part in decision-making simply by owning a token.
P2P Trading / ˈpē, ˈtü, ˈpē / / ˈtrād-iŋ /
When trading in Binance, this is the option that allows users to select another user to transact with.
PancakeSwap / ˈpan-ˌkāk-ˈswäp /
A decentralized exchange platform usually utilized to convert game tokens to stablecoins.
Password Recycling / ˈpas-ˌwərd / / (ˌ)rē-ˈsī-kəl-iŋ /
The tendency to have the same password for multiple accounts.
Phishing Scams / ˈfi-shiŋ / / ˈskams /
A type of scam where people pretend to be legitimate institutions, websites, or project managers, to send links to your email or through private messages. These links will either automatically download malware into your device or ask for your account credentials.
Phishing Sites / ˈfi-shiŋ / / ˈsīts /
Sites that imitate an official website by changing some characters (e.g. 4 instead of A) to lure people into encoding their login credentials.
Polygon / ˈpä-lē-ˌgän /
A decentralized platform operating on the Ethereum blockchain that allows users to scale and build dApps. This is powered by MATIC tokens.
Ponzi Scheme / ˈpän-zē-ˈskēm /
An investment scam that happens when a token’s only demand and utility comes from being purchased by new investors. When people eventually stop buying it, the value of the token drops, leaving people who invested late with worthless tokens.
Price / ˈprīs /
In the context of choosing crypto wallets, price is a factor that takes affordability into account. Software wallets are usually free, while hardware wallets usually have added costs for being a physical wallet.
Private Key / ˈprī-vət / / ˈkē /
A string of letters and numbers that acts like a password to an account inside a wallet.
Proof of Stake (PoS) / ˈprüf / / äv / / ˈstāk /
A way of verifying blockchain transactions where validators are chosen depending on their stake or locked investment on the blockchain.
Proof of Work (PoW) / ˈprüf / / äv / / ˈwərk /
A way of verifying blockchain transactions where validators are chosen randomly among miners, people who solve complex mathematical problems to validate transactions.
Provable Ownership / ˈprü-və-bəl / / ˈō-nər-ˌship /
A mechanism employed to ensure that an NFT is owned by one person at a time. This is managed through the uniqueID and a particular token metadata which cannot be replicated..
Public Key / ˈpə-blik / / ˈkē /
The address required to execute transactions and receive assets into an account. During exchanges, this is the address given to the other party. Also known as wallet address.
Pump-and-dump / ˈpəmp / / ən(d) / / ˈdəmp /
An investment scam that happens when a group of people holding a large percentage of a token fabricates an increase in its value to tempt people into buying. Once the token is at its peak price (Pump), they sell theirs all at once to make a steep drop in the token’s value (dump).
Push Notification / ˈpu̇sh / / ˌnō-tə-fə-ˈkā-shən /
A passwordless authentication system that does not require any codes or additional interaction. When enabled, websites and applications send a push notification when an authentication attempt is made.
QR Code / ˈkyü,ˈär / / ˈkōd /
A type of barcode consisting of black rectangular shapes that store and relay information.
Ronin Blockchain / ˈrōnin / / ˈbläk-ˈchān/
An Ethereum-linked sidechain made specifically for Axie Infinity.
Ronin Wallet / ˈrōnin / / ˈwä-lət /
A software wallet engaging with the Ronin blockchain, specifically developed for Axie Infinity.
Rug Pull / ˈrəg / / ˈpu̇l /
An investment scam that happens when developers don’t actually lock their Liquidity Pool, later on running with its contents. This is dangerous because when the Liquidity Pool is drained, the tokens from the rug-pulled project lose their value.
Secret Recovery Phrase (Seed Phrase) / ˈsē-krət / / ri-ˈkə-və-rē/ / ˈfrāz / or / ˈsēd / / ˈfrāz /
A security feature for recovery of assets. This is a set of random words, unique for each wallet, that represent data when combined.
Selfie Identification / ˈsel-fē / / ī-ˌden-tə-fə-ˈkā-shən /
A step in Binance account verification to confirm the identity of the supporting document's owner. This is done by taking a photo of the user in-app, following the guidelines set.
Smart contracts / ˈsmärt / / ˈkän-ˌtrakts /
Accounts stored in the Ethereum blockchain that are coded to run when specific conditions are met
SMS-based 2FA / ˌes-ˌem-ˈes / / ˈbāst / / ˈtü,-ˈef,-ˈā /
A two-factor authentication (2FA) mechanism that communicates with a user's phone directly. The site provides a one-time passcode (OTP) through a text message after logging in via username and password.
Software Token / ˈsȯft-ˌwer / / ˈtō-kən /
A two-factor authentication (2FA) application that generates a numeric code every 30 seconds.
Software Wallet / ˈsȯft-ˌwer / / ˈwä-lət /
Digital programs that can hold crypto assets. This requires internet and can easily be downloaded and accessed through a computer or a mobile application. Also known as hot wallets.
Software Wallet Security / ˈsȯft-ˌwer / / ˈwä-lət / / si-ˈkyu̇r-ə-tē /
In the context of choosing crypto wallets, software wallet security uses multiple levels of security and backup methods, and it can only be accessed through the internet.
Stablecoin / ˈstā-bəl-ˈkȯin /
A stablecoin is a type of cryptocurrency whose value is pegged to a fiat currency or some other commodity.
Supported Tokens / sə-ˈpȯrt-ed / / ˈtō-kəns /
In the context of cryptocurrency exchanges, these are tokens that can be stored and traded in an exchange site..
Swap Fees / ˈswäp-/ / ˈfēs /
The amount charged by the exchange every time a transaction is made. These fees vary depending on the cryptocurrency exchange.
Technology Impact / tek-ˈnä-lə-jē / / ˈim-ˌpakt /
The perceived impact by the market of the coin’s use case
Terrorism Financing / ˈter-ər-ˌi-zəm / / fə-ˈnan(t)-siŋ/
The utilization of legally-obtained financial assets to finance illegal activities.
Token / ˈtō-kən /
In cryptocurrency, tokens are digital assets that are built to represent something that you own.
Tokenomics / ˈtō-kən-ä-miks /
The study of how assets are valued in the present and in the long term; Token Economics
Trading Volume / ˈtrād-iŋ / / ˈväl-(ˌ)yüm /
The value of the amount of tokens exchanged per day
Transparency / tran(t)s-ˈper-ən(t)-sē /
A feature of web3 that allows the general public to open and access the code that developers make. Transactions in web3 are recorded and can be viewed by anyone online, too
Trezor / ˈtre-ˈrā-zər /
An example of a hardware wallet. This supports the Ronin Blockchain.
Trustlessness and Permissionlessness / ˈtrəst-ləs-ˈnes / / ən(d) / / pər-ˈmi-shən-ləs-ˈnes /
A feature of web3 that enables peer-to-peer interactions without centralized platforms and middlemen.
Two-Factor Authentication (2FA) / ˈtü / / ˈfak-tər / / ə-ˌthen-ti-ˈkā-shən , ȯ- /
Another layer of security that you can add aside from your password. When 2FA is enabled, instead of immediately gaining access, you will be required to provide a code sent either to your SMS or to your authentication application.
UniSwap / ˌyü-nə-ˈswäp /
A decentralized exchange platform usually utilized to convert game tokens to stablecoins.
User Interface / ˈyü-zər / / ˈin-tər-ˌfās /
In the context of types of cryptocurrency exchanges, user interface is the interaction of a significant platform with its user.
User-Friendliness / ˈyü-zər / / ˈfren(d)-lē-nəs /
In the context of choosing crypto wallets, user-friendliness is a factor that takes into account if the software is easily understandable and navigatable for new and old users.
Value / ˈval-(ˌ)yü /
The price of an asset.
Voice-based 2FA / ˈvȯis / / ˈbāst / / ˈtü,-ˈef,-ˈā /
A two-factor authentication (2FA) mechanism that communicates with a user's phone directly. The site dials the phone number provided by the user and audibly delivers the 2FA code through a phone call.
Wallet Address / ˈwä-lət / / ə-ˈdres /
The address required to execute transactions and receive assets into an account. During exchanges, this is the address given to the other party. Also known as public key.
Wash Trading / ˈwäsh / / ˈtrād-iŋ /
An investment scam where a group of people buy tokens/NFTs from one another at a higher price to artificially induce a value increase.
Web3 or Web 3.0 / ˈweb-ˈthrē /
The technologies behind the newest kind of internet service where people can use blockchains and cryptocurrency.
Whitelisting / ˈ(h)wīt-ˈlist-iŋ /
A method of listing pre-approved and verified participants in an initial coin offering (ICO) or an NFT presale.