Crypto Jargon Buster: Key Terms Every Shopper Should Know
Cryptocurrency comes with its own set of unique terms and understanding them can make navigating the crypto world a lot easier. Here’s a quick glossary of common crypto jargon to help you get familiar with the basics.
Key Crypto Terms:
- Wallet: A digital tool for storing, sending, and receiving cryptocurrency. Coinbase offers hot wallets and vault options for secure storage.
- Private Key: A secret code that gives you access to your wallet. Treat it like a password—anyone who has it can access your funds.
- Public Key: A public code linked to your wallet, used to receive crypto. It’s safe to share for receiving payments.
- Gas Fees: Transaction fees paid to miners to process a transaction on the blockchain, typically for Ethereum-based assets.
- Stablecoin: A cryptocurrency that maintains a stable value, often pegged to the U.S. dollar (e.g., USDC).
- Fiat: Traditional government-issued currency, like USD or EUR, used in exchange for crypto.
Conclusion
Understanding these terms will make it easier to manage and use cryptocurrency confidently. Whether you’re shopping with crypto or exploring investments, a basic knowledge of these key terms will make your journey smoother.
