Bitcoin & Crypto Glossary

A unique string of letters and numbers used to send and receive Bitcoin. Similar to an email address but for cryptocurrency.

Any cryptocurrency other than Bitcoin. Examples include Ethereum, Litecoin, and thousands of others.

The first and most valuable cryptocurrency, created in 2009 by Satoshi Nakamoto. A decentralized digital currency.

A distributed ledger that records all Bitcoin transactions. It's a chain of blocks containing transaction data.

A collection of Bitcoin transactions that have been verified and added to the blockchain. New blocks are created approximately every 10 minutes.

Storing Bitcoin offline for security. This includes hardware wallets, paper wallets, or any wallet not connected to the internet.

When a Bitcoin transaction is included in a block, it receives one confirmation. More confirmations mean more security.

Digital or virtual currency secured by cryptography. Bitcoin was the first cryptocurrency.

An investment strategy where you buy a fixed dollar amount of Bitcoin at regular intervals, regardless of price.

Not controlled by any single entity, government, or corporation. Bitcoin operates on a decentralized network.

A platform where you can buy, sell, or trade cryptocurrencies. Examples include Coinbase, Binance, and Bitcoinore.

Government-issued currency like USD, EUR, or GBP. Traditional money not backed by a physical commodity.

The cost of processing a Bitcoin transaction. Includes network fees paid to miners and service fees paid to exchanges.

Fear Of Missing Out. The anxiety that an exciting or interesting event may currently be happening elsewhere.

Transaction fees on the Ethereum network. Not applicable to Bitcoin, which uses regular transaction fees.

An event that cuts Bitcoin mining rewards in half, occurring approximately every 4 years. Reduces new Bitcoin supply.

A physical device that stores Bitcoin offline. Examples include Ledger and Trezor. The most secure storage method.

The computational power used to mine Bitcoin and process transactions. Higher hash rate means more network security.

A misspelling of 'hold' that became a meme. Means to hold Bitcoin long-term regardless of price fluctuations.

A Bitcoin wallet connected to the internet. Convenient for frequent transactions but less secure than cold storage.

Identity verification required by many exchanges. Involves providing personal information and documents.

A second-layer solution enabling fast, cheap Bitcoin transactions by processing them off the main blockchain.

Total value of all Bitcoin in circulation. Calculated by multiplying current price by circulating supply.

The process of validating Bitcoin transactions and adding them to the blockchain. Miners are rewarded with new Bitcoin.

A computer that maintains a copy of the Bitcoin blockchain and validates transactions.

A secret code that allows you to spend Bitcoin from a specific address. Never share your private keys!

Derived from your private key, used to generate Bitcoin addresses. Safe to share, unlike private keys.

A scannable code often used to share Bitcoin addresses. Makes sending Bitcoin easier and reduces errors.

The smallest unit of Bitcoin, equal to 0.00000001 BTC. Named after Bitcoin's creator.

The pseudonymous creator of Bitcoin. Their true identity remains unknown.

A series of words (usually 12 or 24) that can restore your Bitcoin wallet. Keep this extremely secure!

Segregated Witness - a Bitcoin protocol upgrade that increases transaction capacity and reduces fees.

A unique identifier for every Bitcoin transaction. Used to track transactions on the blockchain.

The degree of price fluctuation. Bitcoin is known for high volatility compared to traditional assets.

Software or hardware that stores your Bitcoin. Actually stores your private keys, not the Bitcoin itself.

Someone who owns a large amount of Bitcoin, capable of influencing market prices with their trades.

The original document by Satoshi Nakamoto describing Bitcoin. Published in 2008.