Common cryptocurrency terms, part 1

If you’re new to cryptocurrency, you’re probably confused by the many terms that are used everywhere. We decided to help you and compiled a mini-dictionary for the novice cryptocurrency user.

Address

Airdrop

Algorithm

Altcoin

ASIC Miner

Bitcoin

Bounty program

Block

Block explorer

Block height

Blockchain

Block reward

Cold storage

  • Hardware wallet — a physical device with online access only when connected to a computer.
  • Paper wallet — a sheet of paper that becomes a physical embodiment of cryptocurrency with keys.

Coin

Confirmation

Contract address

Decentralized service

Destination tag

ERC-20 token

Ethereum

Exchange

Exchange rate

Fiat

Fork

Gas

Genesis block

Gwei

HODL

Hot wallet

We hope our mini-dictionary will come in handy. This is only the first part of our list of terms because the world of cryptocurrencies is huge and very interesting. The second part of our dictionary will be released next week. Stay in tune!

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