Cryptocurrency ABC

In our Crypto ABC, you will find all the terms important to the topic of cryptocurrencies. As the crypto sector continues to evolve and thus becomes more complex, we aim to provide you with expert assistance through our glossary. If you have further questions about crypto terms, let us know and send us an email. We are happy to add new terms to our Crypto ABC at any time.

Cryptocurrency ABC

A

Airdrop
A free distribution of tokens or coins to multiple wallet addresses.

Altcoin
Refers to all cryptocurrencies except Bitcoin.

ASIC
Application-Specific Integrated Circuit, a special chip for mining cryptocurrencies.

B

Block
A data packet that stores and confirms transactions in the network.

Blockchain
A decentralized database that stores and verifies transactions in blocks.

C

Cold Wallet
An offline stored cryptocurrency wallet that is more secure against hacks.

D

Decentralized Finance (DeFi)
Financial systems that operate without central institutions like banks and are based on blockchain technology.

E

Exchange
A platform where you can buy, sell, and trade cryptocurrencies.

F

Fork
A change in the protocol of a blockchain that can lead to a split into two separate chains.

G

Gas
A fee paid for transactions on the Ethereum blockchain.

H

Halving
An event where the reward for mining a new block is halved.

Hot Wallet
An online stored cryptocurrency wallet that is more accessible but less secure.

I

ICO (Initial Coin Offering)
A form of financing where new cryptocurrencies or tokens are sold before their official launch.

M

Mining
The process of verifying transactions and generating new coins.

N

Node
A computer that stores a copy of the blockchain and supports the network.

P

Private Key
A secret key that provides access to a cryptocurrency wallet.

Public Key
A public key used to generate a cryptocurrency wallet address.

S

Smart Contract
Self-executing contracts with the terms of the agreement directly written into code.

Stablecoin
A cryptocurrency pegged to the value of a real asset, like the US dollar.

T

Token
A unit of value created on an existing blockchain.

W

Wallet
A digital wallet for storing cryptocurrencies.

If you need further terms or explanations, do not hesitate to contact us!