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Crypto Terms & Definitions

Learn about some basic cryptocurrency terminologies in seconds.

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51% Attack
If More Than Half The Computer Power Or Mining Hash Rate On A Network Is Run By A Single Person Or A Single Group Of People, Then A 51% Attack Is In Operation. This Means That This Entity Has Full Control Of The Network And Can Negatively Affect A Cryptocurrency By Taking Over Mining Operations, Stopping Or Changing Transactions, And Double-Spending (Reusing) Coins.

A

Address
A place where cryptocurrency can be sent to and from, in the form of a string of letters and numbers. A cryptocurrency address can be shared publicly in the form of text or QR code to those who want to send you cryptocurrency.

Airdrop
A marketing campaign that distributes a specific cryptocurrency or token to an audience. It is usually initiated by the creator of a cryptocurrency in order to encourage use and build the popularity of the coin or token. Most airdrop campaigns run with mechanics, such as receiving coins or tokens in exchange for simple tasks, such as sharing news, referring friends, or downloading an app.

Algorithm
A process or set of rules to be followed in problem-solving or calculation operations, usually by a computer, although humans tend to follow steps algorithmically as well (such as doing math or following a recipe).

All-Time High (ATH)
The highest point (in price, in market capitalization) that a cryptocurrency has been in history.

All-Time Low (ATL)
The lowest point (in price, in market capitalization) that a cryptocurrency has been in history.

Altcoin
As Bitcoin is the first cryptocurrency that captured the world’s imagination, all other coins were subsequently termed “altcoins,” as in “alternative coins.”

Anarcho-Capitalism
A political philosophy and school of thought that believes in removing centralized states in favor of self-ownership, private property, and free markets. Many of the early adopters of Bitcoin were proponents of anarcho-capitalism, believing it would give power and control back to the masses.

Anti-Money Laundering (AML)
A set of international laws enacted to curtail criminal organizations or individuals laundering money through cryptocurrencies into real-world cash.

API
API stands for Application Programming Interface. It is a set of routines, protocols, and tools for building software applications. APIs specify how software components should interact, such as what data to use and what actions should be taken.

Arbitrage
A practice of taking advantage of differences in price of the same commodity in two or more markets or exchanges. For example, cryptocurrency prices on Korean exchanges can be different from those on US exchanges. An arbitrage trader would be in both markets in order to buy in one and sell in another for profit.

Ashdraked
A situation where you lose all your money, more specifically when you lose all your money shorting Bitcoin. This was based on a story of a Romanian trader who continued to short BTC when it went from $300 to $500, since he had made a lot of profit doing so historically. Adapt your trading strategy!

ASIC
Short for “Application-Specific Integrated Circuit”; it is mining equipment that is used specifically to mine a certain cryptocurrency. Often compared to GPUs, ASICs are specially created and bought for mining purposes and offer significant efficiency improvements and power savings due to their narrow use case.

Ask Price
In any financial market, buyers and sellers place their orders to determine the highest price they are willing to buy and the lowest price they are willing to sell. The buyers place “bids” and sellers place “asks,” or offers to sell. If a “bid” is higher than an “ask,” a trade occurs, as the buyer is willing to pay more than what the seller wants. At any given point in time, the lowest ask order that is unmatched becomes the “ask price” of the market.

Astroturfing
A deceptive practice where a sponsor is masked or hidden, making it seem as though a marketing message came from and is strongly supported by the community when it is not.

Atomic Swap
A way of letting people directly exchange one type of cryptocurrency for another on a different blockchain or off-chain without a centralized intermediary such as an exchange.

Attestation Ledger
An attestation ledger is an account book designed to provide evidence of individual transactions. It is generally used to “attest” that a financial transaction took place, or to prove authenticity of transactions or products.

B

Bag
A significant quantity of a specific cryptocurrency is considered a “bag.” How many depends on the definition of the person using the expression. *See Bagholder.

Bagholder
A person who holds large quantities, or bags, of a cryptocurrency. Often used to describe such a person when the price of that cryptocurrency is declining.

Bear
A person who is pessimistic about market prices and expects them to decline. This person is also known to be “bearish” about the market or price. *See Bull.

Bear Trap
A technique played by a group of traders, aimed at manipulating the price of a cryptocurrency. The bear trap is set by selling a large amount of the same cryptocurrency at the same time, fooling the market into thinking there is an upcoming price decline. In response, other traders sell their assets, further driving the price down. Those who set the trap then release it, buying back their assets at a lower price. The price then rebounds, allowing them to make a profit.

Bitcoin ATM (BTM)
A machine from which you can withdraw Bitcoin.

Bitcoin Improvement Proposal (BIP)
A technical design document providing information to the Bitcoin community, describing new proposed features, processes, or environments affecting the Bitcoin protocol. Suggested changes to the protocol are submitted as a BIP. The BIP author is responsible for soliciting feedback and consensus for his or her suggested improvements within the community, and documenting dissenting opinions.

BitLicense
A business license issued to cryptocurrency companies in New York, created and provided by the New York State Department of Financial Services (NYSDFS).

Bits
A sub-unit of one Bitcoin. There are 1,000,000 bits in one Bitcoin.

Block
A container or collection of transactions occurring every time period on a blockchain.

Blockchain
A blockchain is a continuously growing, append-only, list of records called blocks, which are linked and secured using cryptography.

Block Explorer
An online tool to view all transactions that have taken place on the blockchain, network hash rate, and transaction growth, among other useful information.

Block Height
The number of blocks preceding the block in question on the blockchain, or can be thought of as the total blocks in the chain before this point.

Block Reward
An incentive for a miner who successfully calculates a valid hash in a block during mining. By contributing to the security and liveness of the chain, the miner is rewarded with this incentive, ensuring that miners continue to act in the best interest of the blockchain by legitimately taking part in the process (instead of hacking it).

Bollinger Band
A tool developed by Bollinger to help in the recognition of systemic pattern recognition in prices; it is a band that is plotted two standard deviations away from the simple moving average, or exponential moving average in some cases.

Bots
Automated trading software bots that execute trade orders extremely quickly, based on a preset algorithm of buy-and-sell rules.

Brute Force Attack (BFA)
A method of trial-and-error in which automated software generates and tries a large number of possible combinations in order to crack a code or key.

Bubble
A bubble describes a situation where market participants drive prices up above their value, which is usually followed by a steep, rapid drop in prices as the market corrects.

C

Address
A place where cryptocurrency can be sent to and from, in the form of a string of letters and numbers. A cryptocurrency address can be shared publicly in the form of text or QR code to those who want to send you cryptocurrency.

D

Address
A place where cryptocurrency can be sent to and from, in the form of a string of letters and numbers. A cryptocurrency address can be shared publicly in the form of text or QR code to those who want to send you cryptocurrency.

E

Address
A place where cryptocurrency can be sent to and from, in the form of a string of letters and numbers. A cryptocurrency address can be shared publicly in the form of text or QR code to those who want to send you cryptocurrency.

F

Address
A place where cryptocurrency can be sent to and from, in the form of a string of letters and numbers. A cryptocurrency address can be shared publicly in the form of text or QR code to those who want to send you cryptocurrency.

G

Address
A place where cryptocurrency can be sent to and from, in the form of a string of letters and numbers. A cryptocurrency address can be shared publicly in the form of text or QR code to those who want to send you cryptocurrency.

H

Address
A place where cryptocurrency can be sent to and from, in the form of a string of letters and numbers. A cryptocurrency address can be shared publicly in the form of text or QR code to those who want to send you cryptocurrency.

I

Address
A place where cryptocurrency can be sent to and from, in the form of a string of letters and numbers. A cryptocurrency address can be shared publicly in the form of text or QR code to those who want to send you cryptocurrency.

J

Address
A place where cryptocurrency can be sent to and from, in the form of a string of letters and numbers. A cryptocurrency address can be shared publicly in the form of text or QR code to those who want to send you cryptocurrency.

K

Address
A place where cryptocurrency can be sent to and from, in the form of a string of letters and numbers. A cryptocurrency address can be shared publicly in the form of text or QR code to those who want to send you cryptocurrency.

L

Address
A place where cryptocurrency can be sent to and from, in the form of a string of letters and numbers. A cryptocurrency address can be shared publicly in the form of text or QR code to those who want to send you cryptocurrency.

M

Address
A place where cryptocurrency can be sent to and from, in the form of a string of letters and numbers. A cryptocurrency address can be shared publicly in the form of text or QR code to those who want to send you cryptocurrency.

N

Address
A place where cryptocurrency can be sent to and from, in the form of a string of letters and numbers. A cryptocurrency address can be shared publicly in the form of text or QR code to those who want to send you cryptocurrency.

O

Address
A place where cryptocurrency can be sent to and from, in the form of a string of letters and numbers. A cryptocurrency address can be shared publicly in the form of text or QR code to those who want to send you cryptocurrency.

P

Address
A place where cryptocurrency can be sent to and from, in the form of a string of letters and numbers. A cryptocurrency address can be shared publicly in the form of text or QR code to those who want to send you cryptocurrency.

Q

Address
A place where cryptocurrency can be sent to and from, in the form of a string of letters and numbers. A cryptocurrency address can be shared publicly in the form of text or QR code to those who want to send you cryptocurrency.

R

Address
A place where cryptocurrency can be sent to and from, in the form of a string of letters and numbers. A cryptocurrency address can be shared publicly in the form of text or QR code to those who want to send you cryptocurrency.

S

Address
A place where cryptocurrency can be sent to and from, in the form of a string of letters and numbers. A cryptocurrency address can be shared publicly in the form of text or QR code to those who want to send you cryptocurrency.

T

Address
A place where cryptocurrency can be sent to and from, in the form of a string of letters and numbers. A cryptocurrency address can be shared publicly in the form of text or QR code to those who want to send you cryptocurrency.

U

Address
A place where cryptocurrency can be sent to and from, in the form of a string of letters and numbers. A cryptocurrency address can be shared publicly in the form of text or QR code to those who want to send you cryptocurrency.

V

Address
A place where cryptocurrency can be sent to and from, in the form of a string of letters and numbers. A cryptocurrency address can be shared publicly in the form of text or QR code to those who want to send you cryptocurrency.

W

Address
A place where cryptocurrency can be sent to and from, in the form of a string of letters and numbers. A cryptocurrency address can be shared publicly in the form of text or QR code to those who want to send you cryptocurrency.

X

Address
A place where cryptocurrency can be sent to and from, in the form of a string of letters and numbers. A cryptocurrency address can be shared publicly in the form of text or QR code to those who want to send you cryptocurrency.

Y

Address
A place where cryptocurrency can be sent to and from, in the form of a string of letters and numbers. A cryptocurrency address can be shared publicly in the form of text or QR code to those who want to send you cryptocurrency.

Z

Address
A place where cryptocurrency can be sent to and from, in the form of a string of letters and numbers. A cryptocurrency address can be shared publicly in the form of text or QR code to those who want to send you cryptocurrency.

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