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A plain-English glossary of the most important crypto terms: blockchain, seed phrase, gas fee, DeFi, NFT, RWA, stablecoin, and more.
A plain-English reference for the most commonly used terms in crypto and Web3. Terms are listed alphabetically.
A distribution of free tokens to wallet addresses, usually to reward early users or promote a new project. No purchase required - only holding a qualifying asset or completing certain actions. See: What Is an Airdrop?
Any cryptocurrency other than Bitcoin. Ethereum, Solana, BNB, and USDT are all altcoins. The term covers everything from major assets to obscure tokens.
A distributed ledger shared across thousands of computers. Transactions are grouped into blocks, linked in sequence, and cannot be altered after the fact. No central authority controls the record.
A protocol that moves assets between different blockchains - for example, USDC from Ethereum to Solana. KriptoK handles cross-chain bridging automatically through the Swap screen. See: What Is a Bridge?
A crypto exchange run by a company that holds users' assets on their behalf. Examples: Paribu, BTCTurk, Binance TR, OKX TR. Opposite of DEX.
A wallet not connected to the internet. Hardware wallets (Ledger, Trezor) are cold wallets. More secure for long-term storage because they cannot be accessed remotely.
A wallet where private keys are held by a third party (usually an exchange). You see a balance but the exchange controls the funds. Opposite of non-custodial. See: Custodial vs Non-Custodial
An application that runs on a blockchain rather than a company's servers. Uniswap, Aave, and OpenSea are DApps. KriptoK connects to DApps via WalletConnect.
Financial services - lending, borrowing, trading, earning yield - built on blockchain and run by smart contracts instead of banks. No identity verification required, only a wallet. See: What Is DeFi?
A trading platform that runs on smart contracts and lets users swap tokens directly without a company holding their funds. Uniswap and Curve are DEXs. No account needed, only a wallet.
The runtime environment for smart contracts on Ethereum and compatible chains. EVM-compatible chains (Polygon, Arbitrum, Base, BNB Chain) share the same address format. This is why one address works across all EVM chains in KriptoK.
The network fee paid to validators for processing a blockchain transaction. Every send, swap, or smart contract interaction costs gas. Paid in the chain's native token (ETH, SOL, BNB). See: What Is a Gas Fee?
A programmed event in Bitcoin's code that cuts the block reward for miners in half approximately every four years. Reduces the rate at which new Bitcoin enters circulation. Last halving: April 2024.
A wallet connected to the internet. Mobile apps like KriptoK and browser extensions like MetaMask are hot wallets. Convenient for frequent use but more exposed than cold wallets.
A loss that can occur when providing liquidity to a DEX pool and the prices of deposited tokens change relative to each other. The loss is "impermanent" because it reverses if prices return to the original ratio - but becomes permanent if you withdraw.
Identity verification required by regulated financial services. Centralized exchanges require KYC to comply with local law. Self-custody wallets like KriptoK do not require KYC.
The base blockchain itself: Ethereum, Bitcoin, Solana, BNB Chain. All other protocols build on top of Layer 1s.
A network built on top of a Layer 1 to improve speed and reduce costs. Arbitrum, Base, and Polygon are Ethereum Layer 2s. Transactions settle on L2 and periodically commit to L1.
A smart contract holding two or more tokens that users trade against. Liquidity providers deposit token pairs and earn a share of trading fees. The backbone of DEX trading.
The waiting room for unconfirmed transactions on a blockchain. When you send a transaction, it enters the mempool until a validator picks it up. During congestion, transactions can wait a long time.
To create a new token or NFT on a blockchain. When an NFT project launches, users mint tokens - paying to have a new NFT recorded on-chain with their wallet as the owner.
A unique token on a blockchain representing ownership of a specific digital asset: art, music, game items, or any content. Unlike Bitcoin, each NFT is one-of-a-kind. See: What Is an NFT?
A wallet where you hold your own private keys. No company can freeze, access, or lose your funds. KriptoK is non-custodial. See: What Is Self-Custody?
Any action or data recorded directly on a blockchain. Sending tokens, swapping, minting an NFT - all on-chain. Opposite of off-chain, where activity happens outside the blockchain.
A cryptographic key that proves ownership of a wallet and authorizes transactions. Anyone with your private key controls your funds. Never share it. In most wallets, the private key is represented by a seed phrase.
A consensus mechanism where validators lock up (stake) tokens to earn the right to add new blocks. Ethereum, Solana, and most modern chains use PoS. More energy-efficient than Proof of Work.
A consensus mechanism where miners compete using computing power to add new blocks. Bitcoin uses PoW. Energy-intensive but battle-tested.
The shareable identifier for your wallet - like a bank account number. Anyone can send funds to your address. Safe to share publicly.
A tokenized representation of a traditional financial asset on a blockchain: stocks, bonds, gold (XAUT), silver (PAXG). Accessible directly in KriptoK. See: What Are RWAs?
A list of 12 or 24 words that backs up your entire wallet. Anyone who has your seed phrase can access all your funds on any device. Write it down offline and never share it. See: What Is a Seed Phrase?
Holding crypto in a wallet where you control the private keys - not an exchange. KriptoK is a self-custody wallet. See: What Is Self-Custody?
The difference between the expected price of a swap and the actual executed price. Occurs because market prices move between request and execution. KriptoK lets you set a slippage tolerance to control this. See: How to Swap in KriptoK
Self-executing code stored on a blockchain that runs automatically when conditions are met. Powers DEXs, lending protocols, NFT marketplaces, and most of DeFi. No intermediary needed.
A crypto asset pegged to a stable value, usually the US dollar. USDT and USDC are the most widely used stablecoins. Used as a safe haven during volatility and as the base currency in DeFi. See: What Is a Stablecoin?
Locking tokens in a protocol to support network security or earn yield. Some chains pay validators for staking; some DeFi protocols pay liquidity providers. Not all staking is the same.
Exchanging one crypto asset for another directly on-chain without an intermediary. KriptoK supports swaps across all 11 supported chains. See: How to Swap in KriptoK
A digital asset on a blockchain. "Coin" usually refers to a chain's native asset (ETH, SOL, BNB). "Token" refers to assets built on top of a chain (USDC, LINK, UNI). The terms are often used interchangeably.
Representing a real-world asset as a token on a blockchain. Enables fractional ownership, 24/7 trading, and global access without traditional brokers.
The total value of assets deposited in a DeFi protocol's smart contracts. A common measure of a protocol's size and adoption.
A participant in a Proof of Stake network who stakes tokens, verifies transactions, and adds new blocks. Earns fees and staking rewards in return.
Software that manages your private keys and lets you interact with blockchains: send, receive, swap, and connect to DApps. A wallet doesn't store your crypto; the blockchain does. See: What Is a Crypto Wallet?
An open protocol that connects a self-custody wallet to DApps by scanning a QR code or clicking a link. KriptoK supports WalletConnect for Uniswap, Aave, OpenSea, and hundreds of other DApps.
A term for the next evolution of the internet built on blockchain, where users own their data and assets. Contrasted with Web2 - the current internet of centralized platforms.
A DeFi strategy of moving assets between protocols to maximize returns. Users provide liquidity, lend assets, or stake tokens to earn rewards - then reinvest to compound. Higher yields usually mean higher risk.