Wallet
By CoinGecko | Updated on Mar 03, 2020
Analogous to an online bank account or a email client software. Cryptocurrency wallets is an interface that lets users store, send and receive cryptocurrencies. There are 3 popular categories of wallets, "Custodial" - where private key security (and by proxy, the cryptocurrencies themselves) is handled by a third party, "Hot" - wallets that is meant for frequent use, and "Cold" - wallets that is meant for secure and long term storage.
Related Terms
HODL
A crypto slang of saying holding the assets rather than selling it.
A crypto slang encouraging investors to hold on to their assets rather than selling it.
Block Reward
One of the mechanisms built into a blockchain to incentivize validators
Double Spending
Double spending refers to the act of spending digital currencies twice. This is most commonly applied on crypto exchanges by unscrupulous actors.
Dump
A common term used to describe downward market movement, or to describe the action of selling an individuals holdings.
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