1 SATOSHI (0.00000001 BTC)
This is the smallest possible value of Bitcoin, equivalent to cents in conventional currencies. Every Bitcoin is divisible to 8 decimal places, which means 1 BTC = 100,000,000 satoshis. This name comes from the individual (or group) named Satoshi Nakamoto, who is credited with creating Bitcoin.
ALL TIME HIGH / ATH
Indicates the highest value ever reached by a cryptocurrency. For example, Bitcoin reached a price of 19,500 USD on December 17, 2017, which was its record at the time. Its ATH is now 68,789 USD.
Refers to any cryptocurrency other than Bitcoin. While Bitcoin was the first, all other cryptocurrencies are considered alternative from Bitcoin's perspective.
A term indicating an expected drop in crypto market prices. In a bearish trend, the value of the cryptocurrency decreases. The bear, with its downward-pointing claws, symbolizes this trend.
The first and most popular cryptocurrency, founded in 2009 by a person or group under the pseudonym Satoshi Nakamoto. It's sometimes referred to as digital gold.
A group of data containing transactions, stored in a block that is permanently written to the blockchain. Once a block is added, it cannot be changed.
An online tool to check transactions. By entering the transaction ID, we can see the transfer between addresses.
For BTC network:https://explorer.btc.com/en/btc
For ETH network: https://etherscan.io
Reward for cryptocurrency miners for completing a block.
A decentralized database of all transactions of a particular cryptocurrency. Due to its decentralization, it's not tied to one place, and theoretically, any user of the cryptocurrency can have a copy.
Abbreviation for Bitcoin. On some exchanges, it may appear under a different name, e.g., XBT. The maximum number of Bitcoins to be mined is set at 21 million.
Expectation of price increases in the crypto world. Symbolized by a bull with horns pointing upwards.
EXCHANGE / CRYPTO EXCHANGE
A platform for exchanging cryptocurrencies for fiat currency or other cryptocurrencies.
A popular website (https://coinmarketcap.com) providing statistical data from the crypto world. It, therefore, provides information about the growth or decline of individual cryptocurrencies.
A method of storing cryptocurrencies without an internet connection, often in a paper or hardware wallet.
A type of digital wallet that, among its services, also stores the customer's private key. This means you don't have full control over your assets (in this case, your cryptocurrencies) nor the ability to sign transactions. It is a less secure option.
A decentralized type of digital wallet where the user owns its private key. Unlike the aforementioned type, here you are the full owner, giving you greater control over your funds. It is a more secure option.
A concept where everything isn't stored or controlled from one central place. This system type is much more resistant to attacks and is thus much safer.
DECENTRALIZED AUTONOMOUS ORGANIZATION
An organization based on smart contracts. It operates as an autonomous system without centralized management, where the direction of a particular decentralized autonomous organization is determined by coin owners within the DAO. In short, it's an organization managed by code without human intervention.
Decentralized finance. A financial system without a central authority.
A type of cryptocurrency based on the Ethereum platform. Because both originated on the same platform, they meet the same standards and work with similar centralized applications, making their mutual exchange simple. ERC-20 tokens can be sent to the same Ethereum wallet. However, it's essential to send ERC-20 tokens only to one's installed wallet and not to an exchange wallet. Some exchanges may not support all types of cryptocurrencies, which could result in a permanent, irrevocable loss of your cryptocurrencies.
Currently, it represents the second most valuable cryptocurrency on the market. On its network, it's possible to create smart contracts that can automatically evaluate and execute.
FIAT / FIAT MONEY
Currency that isn't backed by a tangible commodity like gold but is accepted as official tender due to government regulation. The US dollar, euro, or Czech koruna are typical examples of such currency, also referred to as fiat currency.
It refers to splitting one blockchain into two separate blockchains. This split occurred, for example, on August 1, 2017, when the Bitcoin blockchain split and thus created a new blockchain called BitcoinCash. The transaction history before this split remained the same for both blockchains. If you had a certain number of Bitcoins in your account before this moment, you had both the original Bitcoins and their equivalent in BitcoinCash on the other blockchain on this account. In October 2017, another significant split blockchain appeared, BitcoinGold, followed by many others.
A fee for conducting transactions on the Ethereum platform.
The initial block in a particular blockchain from which all subsequent blocks originate.
An event where the reward for Bitcoin miners is halved.
A device used to securely store Bitcoins or other digital currencies. When used, it connects to a computer via USB and is disconnected when finished.
A computer function encrypting input data into a specific text string made up of a combination of letters and numbers with a set length.
The performance of a device for mining cryptocurrencies, expressed in the number of hashes per second.
Originally a misspelling of the English word HOLD, it indicates a long-term cryptocurrency holding strategy with faith in its future growth, rather than frequent trading.
A price drop that often follows after reaching a record high (ATH) of cryptocurrency prices.
Digital currency operating on a decentralized principle. Currently, there are more than 10,000 different cryptocurrencies, with Bitcoin as the most famous one.
The address of your digital wallet or exchange account, designated for receiving specific cryptocurrencies.
A machine that allows the conversion of traditional currency into cryptocurrencies and vice versa, usually with higher fees than on standard exchanges.
A digital storage for cryptocurrencies with a unique address (similar to a bank account number). Storing cryptocurrencies in a personal wallet is often considered safer than keeping them on exchanges.
An abbreviation for the process of verifying the identity of users on exchanges. When registering on an exchange, you are often asked to confirm your identity, for example, by providing a scan of your passport or ID card.
A layer that lies above the Bitcoin blockchain, speeding up transactions.
An old fork from 2011. Litecoin is often described as digital silver in contrast to Bitcoin - "digital gold". It has a total limit of 84 million coins and offers lower fees than Bitcoin.
The total market value of a cryptocurrency, which can be found at https://coinmarketcap.com.
Refers to the highest possible number of coins of a specific cryptocurrency. For example, Bitcoin has a maximum set at 21 million.
A computational process for obtaining new cryptocurrency coins. Miners who successfully solve a mathematical problem receive a coin reward.
Currently the leading anonymous cryptocurrency with transactions designed to preserve privacy.
"Non-fungible token." A unique digital object, which can include art, collectibles, and other unique assets.
A physical representation of a wallet with its address and a QR code for receiving cryptocurrency. To send coins, you will need to import the private key from the paper wallet into another wallet.
PEER TO PEER
Network communication between two or more computers.
A system where rewards go to those who already own or hold the cryptocurrency.
A mining process where miners solve computations and are subsequently rewarded with respective digital coins. It is known to be more energy-intensive than PoS.
A secret combination that allows the owner access to their wallet containing their cryptocurrencies.
A development plan of the cryptocurrency, including achieved and planned goals.
The mysterious creator of Bitcoin from 2009. It could be an individual or a group. The smallest fraction of Bitcoin is called a "Satoshi".
A digital contract between two parties designed for transactions in cryptocurrencies. Once defined criteria are met, the agreement is automatically executed.
An application on mobile devices and computers that allows for cryptocurrency management.
A cryptocurrency with a near-steady value, resistant to large fluctuations. These coins are usually pegged to conventional currencies like the dollar or euro or even precious metals.
A method for generating passive income from cryptocurrencies. Although the original concept of staking comes from the Proof of Stake consensus mechanism, the term now refers to locking up tokens for their appreciation or other benefits.
A digital currency created based on another cryptocurrency, e.g., on ETH, ADA, NEO platforms. These tokens do not have their own blockchain but use the one from the base cryptocurrency.
A well-known hardware wallet, originating from the Czech Republic. https://trezor.io
The process of gradually releasing previously locked tokens. Often applied in the early stages of projects when investors acquire tokens at discounted prices. The rules of release can vary and can occur in different phases.
An indicator of the change in value of cryptocurrencies or stocks. For cryptocurrencies, fluctuations are larger, often leading to rapid increases or decreases in value.
The next phase of the internet focused on security, freedom, and decentralization. Represents the evolution of internet applications and structures.
An informational document detailing specifics about a company, technology, or product. In the context of cryptocurrencies, it provides key information about a given project, from its team to the specifics of the cryptocurrency.