Crypto has its own language. This glossary explains key blockchain and trading terms in plain English to help Australians navigate crypto with Elbaite.
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Free crypto tokens distributed to wallet addresses, often as a promotional reward.
Any cryptocurrency that is not Bitcoin. Examples include Ethereum, Solana and Polygon.
A specialised mining machine designed for a single purpose, such as mining Bitcoin.
The highest price a cryptocurrency has ever reached.
A prolonged downtrend in crypto or financial markets, marked by pessimism and falling prices.
The first and most widely held cryptocurrency. Often referred to as digital gold.
A group of verified transactions added to a blockchain.
A decentralised digital ledger that records transactions across a network of computers.
The permanent removal of tokens from circulation, reducing supply.
An offline wallet that stores crypto private keys without internet access. Ideal for long-term holders.
A method blockchains use to validate transactions (e.g. Proof of Work, Proof of Stake).
The mathematical foundation of blockchain security. Ensures privacy, data integrity and verification.
A wallet controlled by a third party, like an exchange. Elbaite prioritises non-custodial alternatives.
A blockchain-based organisation governed by smart contracts and community voting.
An app built on a blockchain that runs without central servers.
A strategy where you invest fixed amounts regularly, regardless of market price.
Blockchain-based financial tools that let users lend, borrow and trade without banks.
A core principle in crypto investing. Always verify project claims before buying in.
A major blockchain supporting smart contracts, tokens and decentralised apps.
A platform for buying and selling crypto. Elbaite offers both peer-to-peer and on-exchange trading.
Government-issued currency like the Australian dollar.
A change to a blockchain’s rules. Can result in a new cryptocurrency.
An emotional driver behind panic buying during market spikes.
Fees paid to validators for executing transactions on networks like Ethereum.
The very first block in a blockchain’s history.
Crypto slang for “hold.” Encourages long-term holding despite volatility.
A wallet connected to the internet. Suitable for frequent use but less secure than cold wallets.
A method for new projects to raise funds by selling tokens before launch.
A core blockchain trait - once data is recorded, it can’t be changed.
A legal identity check required on regulated exchanges like Elbaite.
A base blockchain network, like Bitcoin or Ethereum.
A secondary system built on top of a Layer 1 blockchain to reduce congestion and fees (e.g. Lightning Network, Arbitrum).
A record of all crypto transactions, stored securely on the blockchain.
How easily an asset can be traded without affecting its price.
Funds locked in a smart contract that facilitate trading on decentralised exchanges.
A metric showing the total value of a cryptocurrency. Calculated as price × circulating supply.
A structure used in blockchains to verify data efficiently and securely.
The process of validating Proof of Work transactions by solving cryptographic problems.
A unique digital asset (like art or tickets) stored on a blockchain.
A device that stores a copy of the blockchain and helps maintain the network.
Activity that happens directly on the blockchain, visible and verifiable.
Private, large-volume crypto trades facilitated by brokers. Offered through ElbaitePrivate.
Trading directly between users without intermediaries. Enabled on Elbaite via self-custody.
A secret code used to access and control your crypto. Never share this.
A wallet’s receive address, similar to a bank account number.
A scannable image that contains your crypto address for faster transactions.
Slang for severe losses due to market crashes or bad trades.
The smallest unit of Bitcoin, equal to 0.00000001 BTC.
A 12- or 24-word phrase that recovers your wallet. Must be kept offline and secure.
When you control your own keys and assets - the standard model at Elbaite.
Code that automatically executes agreements on blockchain when conditions are met.
A crypto token tied to the value of a stable asset (e.g. AUD or USD).
A digital asset built on a blockchain that may serve as currency, access or equity.
Two assets you can exchange (e.g. BTC/AUD).
The total funds locked into a DeFi platform - a measure of usage and trust.
A Proof of Stake participant who confirms blocks in exchange for rewards.
How much a crypto asset's price swings. High volatility can mean higher risk and reward.
A cryptographic method where one party proves they know a value without revealing it.
Elbaite is Australia’s full-service crypto exchange built for secure, self-directed investing. Since 2017, we’ve helped Australians trade crypto with confidence through:
Whether you’re decoding your first transaction or diversifying your portfolio, Elbaite gives you the freedom to invest your way - with security you can trust.
Understanding crypto terms is the foundation of smart investing. With Elbaite, you get both the knowledge and the tools to trade securely from day one. Start with Elbaite today and experience self-custody crypto, explained and empowered for Australians.
"I have been a user of the Elbaite service for a long time and I keep coming back to use this service on a regular basis. An extra couple of stars should be added for the service personnel. Problems are resolved quickly and the patience exhibited by these people are legendary."
Andre - Elbaite Client
Elbaite Pty Ltd ACN:
623 185 875
Elbaite Pty Ltd is a registered DCE with AUSTRAC:
DCE 100593224-001
We acknowledge the Wurundjeri people of the Kulin Nation, the Traditional Custodians of the land we work on, as well as the Traditional Owners of country throughout Australia. We pay respects to people, communities and elders past, present and emerging.
Elbaite is a member of:
Elbaite Pty Ltd (ACN 623 185 875) operates a digital currency exchange registered with AUSTRAC. Please note that digital asset prices can be volatile. We will never ask for the private keys to your digital currency wallet. Elbaite is not liable for any losses you may incur, and you are solely responsible for your investment decisions. Before deciding if our services are right for you, take into consideration your own financial situation & needs and/or obtain professional financial or taxation advice from a licensed provider. Elbaite does not provide financial advice and Elbaite does not have any affiliation with external traders, advisors or trading platforms.
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