18 terms
Crypto glossary
The words you'll run into, explained without jargon.
- Address
- Where people send you crypto, like 0x71C…9A2f. Safe to share.
- Address poisoning
- A scam that plants look-alike addresses in your transaction history so you copy the wrong one.
- Cold storage
- Keeping private keys on a device or medium that never connects to the internet.
- Gas fee
- What you pay the network to process a transaction. It changes with demand.
- Hardware wallet
- A small device that keeps your private keys offline and shows transactions on its own screen.
- Hot wallet
- A wallet whose keys live on an internet-connected device, like a phone app or browser extension.
- Multisig
- A wallet that needs approval from several keys, such as 2 of 3, before funds can move.
- Passkey
- A phishing-resistant way to sign in using your device's fingerprint, face or PIN instead of a password or code.
- Passphrase (25th word)
- An optional extra word or phrase added to a seed phrase that creates a separate, hidden wallet.
- Permit signature
- A gas-free signature that can approve an app to spend your tokens, often abused by scam sites.
- Pig butchering
- A long-con scam where a friendly stranger lures you onto a fake crypto trading platform.
- Private key
- The secret number that signs transactions and proves you own your crypto. Your seed phrase generates it.
- Seed phrase
- 12 or 24 words that can rebuild your wallet on any device. Also called a recovery phrase.
- Self-custody
- Holding your own keys instead of trusting an exchange. More control, more responsibility.
- SIM swap
- When a scammer takes over your phone number to receive your calls, texts and login codes.
- Smart contract
- A program on a blockchain that runs automatically when its conditions are met.
- Token approval
- Permission for an app to move your tokens. Old, unlimited approvals are a common way funds get drained.
- Two-factor authentication (2FA)
- A second step at login, beyond your password, such as a code or a passkey.