Cryptocurrency Glossary

Bitcoin: The first and most valuable cryptocurrency. Bitcoin is digital money that allows for secure peer-to-peer transactions on the internet.

Blockchain: A digital form of record keeping, and the technology that supports cryptocurrencies. Imagine a chain of blocks connected by a chain.  our transactions are managed inside each block.

Ethereum: The second largest cryptocurrency. The value of Ethereum or ETH varies day to day. Crypto purchases are often based on a percentage of one ETH (for example, an NFT could be 0.38ETH)

Mining: Bitcoin mining is the process through which new bitcoins are made. Really sophisticated hardware is used to solve complex math problems — the first computer that finds the solution to a certain math problem creates a series of bitcoins. The process then repeats.

Token: A unit of value on a blockchain, AKA a unit of cryptocurrency. Bitcoin and Ethereum are examples of kinds of tokens.

Wallet: A place to store your cryptocurrency. A kind of online location where funds from your current bank are transferred digitally.