Your guide to essential crypto and Web3 terminology — explained simply, clearly.
A unique string of letters and numbers that identifies your crypto wallet on the blockchain. It’s like your account number for sending or receiving crypto.
A free distribution of crypto tokens, often used to reward early users or promote a new project.
Any cryptocurrency that isn’t Bitcoin. Examples include Ethereum, Solana, and Polygon.
A type of decentralized exchange (DEX) that uses smart contracts and liquidity pools instead of order books.
A way for apps and services to communicate automatically — for example, price data feeds into a crypto dashboard.
A public digital ledger where transactions are recorded and verified by a network of computers.
The first and most well-known cryptocurrency, created in 2009 by Satoshi Nakamoto.
A bundle of transactions confirmed on the blockchain. Each block links to the previous one, forming the “chain.”
A tool that allows tokens or data to move between different blockchains.
Permanently removing tokens from circulation, usually to reduce supply.
A crypto platform that holds user funds and executes trades on their behalf.
A crypto wallet that’s kept offline for maximum security, like a hardware wallet.
The process blockchains use to agree on valid transactions (e.g., Proof of Work or Proof of Stake).
Refers to who holds your crypto. Self-custody means you control your private keys — the Elbaite way.
Software or hardware used to store your private keys and access your crypto.
A community-run organization governed by smart contracts and token holders.
An app built on a blockchain that runs without centralized control.
Financial services powered by smart contracts, like lending or trading, without banks.
A peer-to-peer marketplace where users trade crypto directly from their wallets.
A common saying reminding users to understand a project before investing.
A blockchain for smart contracts and decentralized apps. The second-largest crypto by market cap.
Standards for tokens on Ethereum; ERC-20 is for fungible tokens, ERC-721 for NFTs.
A platform for buying and selling cryptocurrencies. Elbaite is a non-custodial exchange — trades go wallet-to-wallet.
Government-issued money like USD.
A split in a blockchain that creates a new version (e.g., Bitcoin Cash forked from Bitcoin).
The anxiety of missing potential gains when prices rise.
Negative sentiment that can affect markets or project reputation.
The fee paid to validators for processing transactions on a blockchain.
The very first block of a blockchain.
A token that gives holders voting power in a DAO or protocol.
When Bitcoin’s mining rewards are cut in half, reducing new supply every four years.
A cryptographic fingerprint that secures blockchain data.
A crypto wallet connected to the internet for quick access, but less secure than cold storage.
A community term for holding crypto long-term, even during volatility.
A fundraising event where a new crypto project sells its tokens to early supporters.
The ability for different blockchains to connect and share data or assets.
Data that can’t be changed once written to the blockchain.
A tongue-in-cheek term for NFT artwork, often used jokingly (“just a JPEG”) though NFTs can represent far more than images.
The identity verification process required by many exchanges to comply with regulations.
A secret code that allows you to access and send your crypto. Never share it — whoever has your key, owns your crypto.
A base blockchain like Ethereum or Bitcoin.
A secondary network built on top of a Layer 1 to make transactions faster or cheaper (e.g., Arbitrum, Optimism).
How easily an asset can be bought or sold without affecting its price.
The record of all transactions on a blockchain.
A Layer 2 system for faster Bitcoin payments.
The total value of a cryptocurrency, calculated by price × supply.
A popular Web3 wallet for interacting with decentralized apps.
The process of verifying blockchain transactions (in Proof of Work systems) in exchange for rewards.
A security feature requiring multiple keys to approve a transaction.
A unique digital item stored on the blockchain — artwork, music, in-game assets, and more.
A computer that participates in maintaining the blockchain network by validating transactions.
A one-time code used in cryptography to ensure each transaction is unique.
Actions or data recorded directly on the blockchain.
Converting crypto back into fiat currency.
A service that brings real-world data (like prices) into smart contracts.
Direct transactions between users without intermediaries — exactly how Elbaite works.
Your secure code to control and send crypto (keep offline and secret).
A code derived from your private key; it’s used to generate your wallet address.
Two major consensus methods used to validate blockchain transactions.
A set of rules or smart contracts that power a blockchain project.
A scannable code that often contains a crypto wallet address for easy payments.
Cryptography designed to remain secure even against quantum computers.
When a project’s developers disappear with investor funds — a major crypto scam warning sign.
A backup of your wallet keys; if lost, your funds are gone. Keep it secure and offline.
A connection method wallets use to talk to blockchain nodes.
The smallest unit of Bitcoin (0.00000001 BTC).
The pseudonymous creator of Bitcoin.
A fake or malicious token designed to trick investors. Always DYOR.
Holding your own crypto in your own wallet. Central to Elbaite’s philosophy.
Code on the blockchain that executes automatically when conditions are met.
A crypto token pegged to a stable asset like USD (e.g., USDC, USDT).
Locking up crypto to support network operations and earn rewards.
A digital asset built on an existing blockchain (e.g., ERC-20 tokens on Ethereum).
A unique ID showing details of a blockchain transaction.
The total amount of crypto held in a DeFi protocol.
A token that gives holders access to a product, service, or network feature.
Popular stablecoins pegged to the US dollar.
A participant who confirms transactions on Proof of Stake networks.
How much a crypto’s price moves up or down — high volatility means big swings.
The co-founder of Ethereum.
A tool (software or hardware) that stores your crypto keys.
The next evolution of the internet — decentralized, user-owned, and powered by blockchain.
A list of approved users allowed to participate in an airdrop, NFT mint, or sale.
A tokenized version of another asset (e.g., WBTC = Wrapped Bitcoin on Ethereum).
The native token of the XRP Ledger, known for fast, low-fee payments.
Earning rewards or interest by providing liquidity to DeFi platforms.
The return earned on staked or lent crypto assets.
A cryptographic method that lets you prove something is true without revealing the details.
A Layer 2 scaling solution using zero-knowledge proofs for fast, low-cost transactions.
Answers to common questions before getting started.
No. Elbaite is a self-custody marketplace, not a centralized exchange. You buy from verified sellers and receive crypto directly to your wallet. USD is held in escrow and released to the seller only after on-chain delivery is confirmed.
It’s fast, transparent, and wallet-first. Add funds in USD, buy crypto, and receive it directly to your wallet - no custody and no hidden platform fees.
Add funds via wire transfer, select an offer, and confirm. Your USD stays in escrow and is released only after your on-chain transfer to the specified wallet is confirmed.
Yes - Ledger, Trezor and others work seamlessly. Add your receive address to your Address Book and select it at checkout to receive crypto there directly.
No. We never hold your crypto. We operate the USD side via escrow and release funds to the seller only after delivery to your wallet is confirmed on-chain.
We’re wallet-first and escrow-backed. You add funds in USD, choose a marketplace offer, and the seller delivers crypto straight to your address. We never connect to or custody your wallet. USD releases only after your on-chain delivery is verified.
No. You never need to connect your wallet to Elbaite. Add your destination addresses to your Address Book (hardware wallets, self-custody apps or platform receive addresses for example). When you buy, simply select your destination wallet address from your address book. Elbaite will never ask for your seed phrase or private keys.
A simple 1% buy fee is applied to your purchase. No platform funding fees. (Network fees may apply). View Elbaite fee information here.
Yes - limits typically apply based on verification level. You can view your account limits in your profile under account tiers. If you are interested in trading volumes larger then you currently have, please contact our team directly via the in-app support portal.
The fastest way to contact support is via the in-app support portal. Simply log in, and select 'support' from the main menu. If you are not able to log in, fill out our contact form here and we will be in touch as soon as possible.
Elbaite Pty Ltd (“Elbaite”) is incorporated in Australia and registered with the U.S. Financial Crimes Enforcement Network (FinCEN) as a Money Services Business. We will never ask for the private keys to your personal 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. Please note: Be cautious of phishing sites and always verify that you're on the official Elbaite.com website before entering any sensitive information.
