Fiat Currency

All legal tender recognised by governments and banks as a means of payment. Fiat currencies are for instance the US Dollar, Euro, Pound Sterling, Yen and so on. The value of a fiat currency such as the Dollar is attributed by a central bank, in this case the Federal Reserve. They control the distribution and assesment of the fiat currency. This is because fiat is not indexed to the price of a natural resource such as gold or silver. So, just like cryptocurrencies, the Dollar or the Euro (in their physical representation i.e. banknotes) don’t actually correspond to a tangible good like gold or silver. They are simply accepted as a form of legal payment in a given country.

Correlated words

Cashback

Cashback involves a partial reimbursement of funds spent in a transaction.

Web3

Third historical phase of the web, during which the economic and technological system of the internet changes, thanks to the tools offered by blockchain.

Bitcoin

The longest-lived cryptocurrency on the market and the first application of blockchain.

Wallet address

The string of characters that identifies a cryptocurrency wallet.

Stablecoin

Cryptocurrencies pegged to the price of a stable asset such as a fiat currency or precious metal.

Custody

Managing one's wallet by knowing its private key

White Paper

Technical and informative document used by cryptocurrency projects to present their technological proposal.

Wallet

Software that allows you to send, receive and store your cryptocurrencies.

Virtual Currency

Term used in legislation to define cryptocurrencies.

Token

Digital unit of value based on a third-party protocol.

Satoshi Nakamoto

The pseudonym used by the creator or group of developers of Bitcoin.

Open-source

Open-source software is public and available for anyone to reuse.

KYC

Identity verification procedure required by European regulations for exchanges.

Hard Fork

A division of the blockchain due to the incompatibility of the new version of the protocol with the previous one.

Hot Wallet

A cryptocurrency wallet connected to the internet.

Halving

The halving of the reward given to miners for each validation, every 4 years.

FinTech

A sector that combines finance and technology, where companies develop technologically innovative financial services.

Cryptography

The branch of computer science that studies secure communication methods.

Cryptocurrency

Virtual currency based on cryptography and blockchain.

Coin

A cryptocurrency that is natively based on its blockchain

Public Key

Cryptographic code that identifies a wallet on the blockchain.

Private Key

Cryptographic code that gives access to a wallet.

API

Tools that simplify the development of apps and web services.

Altcoin

Cryptocurrencies that followed Bitcoin as alternative solutions.

AML

Anti-money laundering regulations prevent illegal activities on centralised exchanges.

Algorithm

The procedure applied to solve a problem.

Exchange

Services facilitating the purchase and sale of digital assets based on daily market prices.

Financial Market

The financial market is a regulated space where financial securities can be bought and sold.

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