Master crypto,
from wallets to tokenomics.

A sustained period of falling prices and pessimistic sentiment, commonly defined as a decline of 20% or more from recent highs.

A sustained period of rising prices and optimistic sentiment. The opposite of a bear market.

Interest earned on both your original capital and on previously accumulated interest. Over long periods it is the main driver of investment growth.

Government-issued money such as the US dollar or euro, not backed by a physical commodity. Crypto prices are usually quoted against fiat.

The full collection of assets a person or fund holds. Diversification spreads a portfolio across different assets to manage risk.

The free distribution of tokens to wallet addresses, often used to reward early users or bootstrap a new project's community.

Any cryptocurrency other than Bitcoin. The term spans thousands of very different projects, from large established networks to tiny speculative tokens.

A smart-contract mechanism allowing two parties to exchange different cryptocurrencies directly, without a centralised exchange as middleman.

A type of decentralised exchange that sets prices using a mathematical formula and liquidity pools rather than a traditional order book.

A bundle of validated transactions recorded together on a blockchain. Each block is linked to the previous one through a cryptographic hash, forming the chain.

A shared, append-only ledger maintained across many computers. It records transactions in linked "blocks" that are very difficult to alter after the fact.

A protocol that moves tokens between two different blockchains. Bridges are a common target for exploits because they hold large reserves of locked assets.

The permanent removal of tokens from circulation by sending them to an unspendable address. Projects burn tokens to reduce supply, sometimes as a deflationary mechanism.

Central Bank Digital Currency: a digital form of a country's official money issued and controlled by its central bank, distinct from decentralised cryptocurrencies.

Centralised exchange: a platform operated by a company that holds user funds and matches buy and sell orders, such as Coinbase or Binance.

A cryptocurrency wallet kept offline (for example on a hardware device), reducing exposure to online theft. The opposite of a hot wallet.

The process by which a distributed blockchain network agrees on a single valid version of the ledger. Proof of work and proof of stake are the two dominant consensus mechanisms.

A unique alphanumeric string that serves as a destination for cryptocurrency transactions, derived from a public key. Sending crypto to a wrong address is typically irreversible.

A service that holds crypto on a user's behalf, such as a centralised exchange. Custodial means you trust the provider with your keys; non-custodial means you hold them yourself.

Decentralised Autonomous Organisation: an entity governed by token holders voting on proposals through smart contracts, with no central management.

Decentralised application: software that runs on a blockchain rather than a central server, removing a single point of control or failure.

Decentralised finance: financial services — lending, borrowing, trading — that run on public blockchains via smart contracts, without banks or brokers.

Decentralised exchange: a platform where users trade directly from their own wallets using smart contracts, without handing custody to a company.

An attack in which someone attempts to spend the same coins twice. Blockchain consensus rules are designed specifically to make double-spending impractical.

The most widely used token standard on the Ethereum network. Most Ethereum-based tokens follow ERC-20 rules so wallets and exchanges can handle them uniformly.

A platform for buying, selling and trading cryptocurrencies. Centralised exchanges (CEXs) hold user funds; decentralised exchanges (DEXs) let users trade directly from their own wallets.

An uncollateralised loan that must be borrowed and repaid within a single blockchain transaction. Used for arbitrage and DeFi strategies; also exploited in attacks.

A change to a blockchain's rules. A "hard fork" creates an incompatible new version, sometimes splitting one network into two.

Fear, Uncertainty and Doubt: negative sentiment, whether genuine or deliberately spread, that can push prices lower by eroding confidence.

The cost paid to have a transaction processed on a blockchain such as Ethereum. Fees rise and fall with network demand.

The maximum amount of gas a user is willing to spend on an Ethereum transaction. Setting it too low causes the transaction to fail; setting it higher than needed returns the unused gas.

The very first block of a blockchain. Bitcoin's genesis block was mined by Satoshi Nakamoto in January 2009 and is hardcoded into the protocol.

A token that gives holders voting rights over a protocol's rules, fees or upgrades. Voting power is usually proportional to the tokens held.

A scheduled event that cuts the rate of new Bitcoin issuance in half, roughly every four years, slowing the growth of supply.

A fixed-length output produced by running data through a cryptographic hash function. Even a tiny change in the input produces a completely different hash, making hashes useful for verifying data integrity.

The combined computing power being used to mine a proof-of-work blockchain. Higher hash rate generally means a more secure network.

Crypto slang for holding an asset through volatility rather than selling. It originated as a misspelling of "hold".

Initial Coin Offering: a fundraising method in which a project sells tokens to the public, similar in concept to an IPO but largely unregulated. Most ICO-era projects failed.

The difference between holding tokens outright and providing them as liquidity in an AMM pool. If relative prices shift, the pool leaves you with less value than simply holding.

The rate at which new tokens are issued, expanding the total supply. High inflation dilutes existing holders; some protocols design their supply to become deflationary over time.

Know Your Customer: the identity-verification process regulated exchanges use to confirm who their users are, as required by financial law.

The base blockchain network itself — Bitcoin, Ethereum, Solana. All activity ultimately settles on the layer-1 chain.

A secondary network built on top of a layer-1 chain to increase throughput and reduce fees, settling batches of transactions back on the base chain.

A record of transactions. In crypto, the blockchain is a distributed ledger maintained across many computers rather than by a single institution.

A layer-2 payment network on top of Bitcoin allowing near-instant, very low-fee transactions by settling channels on-chain only when opened or closed.

In leveraged trading or DeFi lending, the forced sale of a borrower's collateral when its value falls below the required threshold, to cover the debt.

A pool of tokens locked in a smart contract that powers a decentralised exchange or lending protocol. Liquidity providers earn fees but take on impermanent-loss risk.

The live, production version of a blockchain where transactions have real value — as distinct from a testnet used for development.

A cryptocurrency that originated as a joke or internet meme, such as Dogecoin or Shiba Inu. Memecoins can trade at large valuations driven mainly by community sentiment.

The process by which proof-of-work networks like Bitcoin validate transactions and create new coins, using computing power to solve cryptographic puzzles.

The creation of new tokens or NFTs on a blockchain. Minting writes a new record to the ledger, bringing the asset into existence.

Short for multi-signature: a wallet or contract that requires approval from more than one private key before a transaction can be authorised.

Non-fungible token: a unique blockchain record representing ownership of a specific item — art, music, a game asset — that cannot be interchanged one-for-one with another.

A computer that participates in a blockchain network by storing a copy of the ledger and relaying transactions and blocks to its peers.

In proof-of-work mining, the number miners vary billions of times per second trying to produce a valid block hash. Also used in Ethereum to prevent transaction replay.

Activity that is recorded directly on the blockchain ledger. On-chain data is public and verifiable, unlike activity on centralised platforms.

A service that feeds real-world data — prices, weather, sports scores — into smart contracts, which cannot access the outside world on their own.

A physical printout of a private key and its corresponding public address. Offline by definition, but vulnerable to physical theft, fire and water damage if not stored carefully.

A mechanism that keeps a stablecoin's price anchored to a reference value, usually $1 USD. Pegs can be maintained by reserves, collateral or algorithmic rules.

The secret cryptographic code that controls a crypto wallet. Anyone with the private key controls the funds, so it must never be shared.

A method of securing a blockchain in which validators lock up ("stake") coins for the right to confirm transactions, using far less energy than mining.

A method of securing a blockchain in which miners expend computing power to validate transactions, used by Bitcoin.

The cryptographic address derived from a private key that others use to send you cryptocurrency. Sharing your public key is safe; sharing your private key is not.

A mechanism that automatically adjusts the total supply of a token to target a price, increasing or decreasing all holders' balances proportionally.

A scam in which project developers abandon a crypto project and abscond with investor funds, often after a brief pump in price.

A sequence of 12 or 24 words generated by a crypto wallet that encodes the private key. Anyone with the seed phrase controls the wallet entirely.

Self-executing code on a blockchain that runs automatically when conditions are met, underpinning applications such as DeFi.

A cryptocurrency designed to hold a steady value, usually pegged to a fiat currency such as the US dollar.

Locking up crypto to help secure a proof-of-stake network, typically earning rewards in return. Rewards are not guaranteed and capital is at risk.

A parallel blockchain network used by developers to test changes and smart contracts without risking real money. Testnet tokens have no value.

The economic design of a crypto token: its supply schedule, distribution, incentives and uses. Weak tokenomics can undermine an otherwise good project.

The total value of assets deposited in a DeFi protocol. TVL is a common measure of a protocol's size and usage, though it can be inflated by recursive deposits.

The amount paid to the network to process and record a transaction on the blockchain. Fees vary by network congestion and transaction complexity.

In a proof-of-stake network, a participant who stakes coins and is selected to verify transactions and propose new blocks, earning rewards for honest behaviour.

Software or hardware that stores the keys used to access and move cryptocurrency. A wallet holds keys, not the coins themselves.

The smallest denomination of Ether. One ETH equals 10^18 wei. Gas prices are often quoted in gwei (gigawei), which is 10^9 wei.

An individual or entity holding a very large amount of a cryptocurrency. Whale movements — large buys or sells — can significantly affect prices in thin markets.

A technical document that describes a blockchain project's goals, design and token economics. Bitcoin's 2008 whitepaper by Satoshi Nakamoto is the founding example.

Moving cryptocurrency between DeFi protocols to earn the highest available return. Yield farming can amplify rewards but compounds risk and smart-contract exposure.

A layer-2 scaling solution that bundles many transactions into a single proof and posts it to the base chain. ZK (zero-knowledge) proofs verify correctness without revealing all the underlying data.

The number of coins or tokens currently available and in public hands. Market cap is calculated from circulating supply, not total or maximum supply.

What a crypto project would be worth if its maximum supply were all in circulation at today's price. A large gap between market cap and FDV signals heavy future supply.

The total value of an asset: price multiplied by the number of units in circulation (circulating supply for a coin).

The hard cap on how many units of a cryptocurrency can ever exist. Some coins have a fixed maximum; others have none.

The income an investment produces, expressed as a percentage of its price — for example a staking yield on a coin.

The highest price an asset has ever reached. A price far below its ATH is not automatically a bargain — the previous high may never return.

The current price to buy or sell an asset for immediate delivery, as opposed to a futures or contract price.

The degree to which a price swings up and down over time. Higher volatility means larger and faster moves in both directions.

The total value of an asset traded over the past 24 hours. Higher volume generally means more liquidity and more reliable prices.

The original amount you paid for an asset, including fees. It is the figure against which a gain or loss is measured when you sell.

Investing a fixed amount of money on a regular schedule regardless of price, so you buy more units when prices are low and fewer when high.

A sentiment gauge that scores market mood from 0 (extreme fear) to 100 (extreme greed) using inputs such as volatility and momentum. It is a mood reading, not a forecast.

An unrealized gain exists on paper while you still hold the asset; it becomes realized — and usually taxable — only when you sell.

A comparison of how much you stand to lose against how much you stand to gain on a position. A 1:3 ratio risks one unit to make three.

A standing order to sell once an asset falls to a set price, used to cap a loss. It does not guarantee the exact exit price in fast markets.

The bid is the highest price a buyer is currently willing to pay; the ask is the lowest price a seller will accept. The gap between them is the spread.

How easily an asset can be bought or sold without moving its price much. Highly liquid markets have many buyers and sellers and tight spreads.

An instruction to buy or sell immediately at the best price currently available, as opposed to a limit order at a chosen price.

The difference between the price you expected on a trade and the price actually filled, common in fast-moving or thin markets.

The short code identifying a security or coin on an exchange — BTC for Bitcoin, ETH for Ethereum.