Coins

Coins are just another name for Crypto.

Gas Fees

Many cryptos require a transaction fee to move crypto. This fee goes to Miners, which are the ones processing the transactions.

Non Fungible Token

Non Fungible Token” Basically a digital file that works through transactions on blockchain technology. Digital trading card is one of the best quick descriptions. See page on NFTs!

Address

A series of characters that identify where crypto lives. It’s its home! You get your address from making a wallet. In some cases, a wallet can have more than one address. Addresses can usually be thought of as components to a wallet. Generally safe to share your address as they’re designed somewhat like a one way street. You can send crypto to an address, but can’t really take from it. You can usually see all past transaction history with an address however. And people can spam addresses with a bunch of small transactions. You’d share your address to receive crypto.

Mnemonic Phrase

Like a seed, it can open a wallet. Instead of a series of numbers, a phrase is a series of words. Usually obtained when creating a wallet. Don’t lose or share! Anyone with the phrase has full access to the wallet!

Transaction

When crypto/info is sent from one wallet to another. That’s not a complete description. Like an exception would be minting.

Seed

A string of characters that opens a wallet. Usually obtained when creating a wallet. Don’t lose or share! Anyone with the seed has full access to the wallet! Also see: Mnemonic Phrase

Wallet

A crypto wallet is where crypto is stored. Transactions can be made between them.

Burn

Burning crypto is the purposeful act of taking crypto out of circulation. One way it’s done is by sending to a wallet address that no one has the keys to.