Cryptocurrency Terms and Definitions

Bitcoin is the world's first decentralized digital currency, running on blockchain technology without a single issuer or intermediaries. It is the foundational asset of the entire cryptocurrency market.

A Bitcoin Investment Trust is a company that invests funds in Bitcoin and takes on its purchase and storage, sparing the investor the technical complexities.

BitPay is a payment service that allows merchants to accept payments in Bitcoin and other cryptocurrencies, acting as an intermediary between buyer and seller.

BitStamp is one of the oldest and largest cryptocurrency exchanges, known for high trading volumes and its work with fiat currencies. The platform focuses on reliability and regulatory compliance.

A cryptocurrency exchange is an online platform where users buy, sell and exchange digital assets at market prices. It brings buyers and sellers together and handles the settlement of trades.

An exchange order is an instruction to the exchange to buy or sell an asset. It can be executed instantly at the current price or wait until the desired level is reached. It is the basic tool of any trading.

Blockchain is a distributed database in the form of a chain of linked blocks. Its records are protected by cryptography and stored on many computers, which makes the data practically immutable.

A blockmaker is a professional participant in a decentralized network who stores a full copy of the blockchain and helps maintain its operation, verify transactions and form new blocks.

A paper wallet is a way of storing cryptocurrency in which the public address and private key are printed out on paper. It is a form of cold storage that is kept offline, away from the internet.

A bagholder is an investor who continues to hold an asset that has lost a lot of value, in the hope of a recovery. The term more often describes holders of declining coins with dubious prospects.