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Cheat sheet: your first crypto glossary

Which language does the crypto world speak? If you’re new to crypto, stop worrying about strange words and complicated terms! Learn the essentials with NC Wallet.

Transactions, wallets, and blockchain
Altcoin
Any cryptocurrency other than Bitcoin.
Crypto address
A unique code to receive cryptocurrency. More about crypto addresses here.
Consensus mechanism
Method of confirming transactions on a blockchain. Different networks use various consensus mechanisms: Proof of Work (Bitcoin), Proof of Stake (Ethereum), Proof of History (Solana).
Fee/commission/gas
An amount you pay to blockchain to process your transaction. Learn about types of fees.
Mempool
A “waiting room” for unconfirmed transactions.
Native coin
The main digital currency of its own blockchain (like ETH for Ethereum). It’s used to pay fees, reward validators, and secure the network, unlike tokens that are built on top of a blockchain.
Blockchain
A network you use to make crypto transactions. For example, in NC Wallet, you can send USDT using 6 different blockchains. To learn how blockchain works, check this.
Stablecoin
A cryptocurrency tied to a stable asset, for example, the US Dollar or Euro. Learn more.
Token
Cryptocurrencies that are built on top of other networks: USDT, Litecoin, Doge, etc. Unlike native coins (e.g., Bitcoin, Ethereum), which have their own blockchains.
TXID (Transaction ID)
A unique string of characters that labels each transaction on the blockchain.

Market
ATH (All-Time High)
The highest price ever recorded for a cryptocurrency.
Bear market
A period of decreasing crypto prices.
Bull market
A period of generally increasing crypto prices.
Volatility
How much the price of crypto goes up and down. More about volatility.
Whale
Someone who owns a very large amount of a cryptocurrency.
In case you want to go further and learn crypto slang, check this out.
With NC Wallet, it’s easy to walk through the crypto complexities. Enjoy a secure, convenient, and fee-free wallet.


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