Cryptocurrency Glossary: Complete A-Z List

We know how hard it can be to navigate the crypto world, especially when you hear terms like ‘on-chain‘ or ‘CSW‘. For this reason, we’ve put together a complete cryptocurrency glossary to help you understand what it all means.

AltcoinA digital currency other than Bitcoin which uses blockchain technology.
BFTByzantine Fault Tolerance is a smart consensus mechanism which prevents blockchains from sustained error-states ensuring a faster and more secure network in some cases.
BitcoinA peer-peer digital currency sometimes referred to as ‘Digital Gold’. Censorship resistant and tradeable.
ConsensusThe act of verifying blocks in a blockchain. Basically it is when different participants in a network agree on what has happened and finalise blocks.
Consensus MechanismThe way in which blockchains achieve consensus.
ERC20A token standard on the Ethereum blockchain. ERC20 tokens can be stored on Ethereum wallets which you have access to the private keys to.
EthereumEthereum is a cryptocurrency which has smart-contracts and is one of the most popular in the world.
ExchangeA place where you can trade Bitcoin and other cryptocurrencies. There are two main types of exchanges; spot & derivatives.
FiatAny government-controlled currency. For example, USD, GBP & EUR are all ‘Fiat’ currencies.
Hardware WalletA cryptocurrency wallet which stores private keys on a physical device. A good example of a hardware wallet is the Ledger Nano X or the Ellipal Titan.
MACDMoving Average Convergence Divergence (MACD) is a technical indicator used to track momentum and trend changes. Traders use this to predict where price may move in the future.
MiningA process of reaching consensus on a Proof of Work blockchain. Essentially, mining is the process of verifying cryptocurrency transactions.
Proof of Stake (PoS)Consensus mechanism whereby blocks are verified by stakeholders and rewards are paid out. No mining required. Examples of PoS blockchains include Algorand and NEO.
Proof of Work (PoW)Consensus mechanism used by popular cryptocurrencies like Bitcoin and Ethereum. Requires mining equipment to verify transactions on the blockchain.
Sh*tcoinAnother word for ‘Altcoin’ used by those who see little value in the cryptocurrency’s existence.
StakingThe act of participating in a Proof of Stake blockchain network (cryptocurrency). Those who stake a crypto asset usually receive a reward for doing so.

We’re constantly adding new terms to this page. If you have a term that you would like to know and it isn’t listed here, please comment it below and we’ll add it shortly. Thank you!