Account balance refers to the amount in a bank/cryptocurrency account that can be accessed immediately. It also refers to the difference between all debit and credit transactions.

An account number is a string of numbers (and sometimes letters) that is used to identify a specific bank account and the account holder.

Accounting tokens are essentially tokenized credit or debit entries (IOU/UOM), just like any spreadsheet-based accounting system. They are only for accounting purposes, representing the amount of money owed by the token holder. It is not backed by FIAT like stablecoins, and so cannot be treated as a financial product.

A place where cryptocurrency can be sent to and from, in the form of a string of letters and numbers.

An “airdrop” refers to a method of distributing cryptocurrency to the public, via the fact that they own certain other tokens or wallets on a particular blockchain. This is usually done for marketing purposes to incentivize the holding of other tokens or induce them to become a participant in the blockchain network.

A process or set of rules to be followed in problem-solving or calculation operations, usually by a computer.

An algorithmic stablecoin is designed to achieve price stability as well as balance the circulating supply of an asset by being pegged to a reserve asset such as the U.S. dollar, for example, gold or any foreign currency.

“All-Time High” (ATH) refers to the highest price (or market cap) that an asset has reached since its listing or inception. As the price used to define the “all-time high” is the last done, it just refers to the highest price a trader paid for an asset, regardless of how much he bought of the asset.

The lowest point (in price, in market capitalization) that a cryptocurrency has been in history. *see All-Time-High (ATH).

Allocation is a term frequently used with maintaining cryptocurrency portfolios. For example, allotting a set percentage of your portfolio to Bitcoin and a mixture of altcoins would be considered as crypto asset allocation. In the world of blockchain, to ensure the long-term profitability of a business model, crypto projects must decide the allocation of the token and their budget that usually includes marketing, software development, and operating expenditures.

aNFTs (autonomous NFTs) are non-fungible tokens that can be programmed to initiate their own transactions. aNFTs are capable of proactively initiating interactions with Web3 users and network protocols without being prompted. As a result, they enable a near-limitless array of complex, open-ended interactions that can be adapted to many Web3 use cases.

After an aNFT is set up with a single initial transaction, it is essentially self-contained and does not rely on humans to do anything. It functions using incentivized networks (i.e. of bots), such as Autonomy Network, to ensure that actions are triggered when the conditions are met.

The amount of interest a borrower must pay each year is known as the annual percentage rate (APR). The monetary value or reward that investors may earn by making their crypto tokens accessible for loans, taking into consideration the interest rates and any other fees that borrowers must pay, is referred to as the annual percentage rate (APR). Customers are encouraged by multiple platforms to stake their crypto assets by offering them a high annual percentage rate (APR). APR is exclusive of compounding interest.

An NFT (Non-fungible token) is a record on a blockchain which is associated with a particular digital or physical asset. [1] The ownership of an NFT is recorded in the blockchain, and can be transferred by the owner, allowing NFTs to be sold and traded. NFTs can be created by anybody, and require few or no coding skills to create.[2] NFTs typically contain references to digital files such as photos, videos, and audio. Because NFTs are uniquely identifiable assets, they differ from cryptocurrencies, which are fungible.

Whitelist can take several different meanings in the world of cryptocurrencies.

Users who sign up to the mailing list of a certain cryptocurrency company are often asked to add the company’s emailing to their whitelists.

This is to prevent emails from going to users’ spam folders.

Cryptocurrency companies can also pay to be added to a whitelist of internet service providers.

In the world of cryptocurrencies, whitelists are most used in the context of ICOs, or in terms of withdrawal addresses.

Investors who want to participate in ICOs will normally be whitelisted after they provide their personal information.

Whitepapers explain the purpose and technology behind a project.

They usually provide statistics, diagrams and facts to convince interested investors to purchase the cryptocurrency.

Producing a whitepaper is key a step required for a crypto startup to be considered legitimate and professional, as it helps investors understand how a business is different from rivals in the space.

Whitepapers differ from litepapers, which tend to be shorter, less technical and easier to understand.

Web 3.0 is the new generation of internet services that utilize advanced machine-based learning and artificial intelligence to connect web-based applications together and form a more personalized web. Web 3.0 is collectively designed to offer users more user-tailored content at a much faster rate than ever before. The new web will utilize AI-powered search algorithms, virtual reality (VR), augmented reality (AR) and enhanced data analytics to make this possible.

Just like you’d keep banknotes and coins in a wallet, you can do the same with crypto.

Crypto wallets come in all shapes and sizes. Whereas some can only support one digital asset, such as Bitcoin, others allow you to store multiple coins.

Hardware wallets are physical devices where the private keys of cryptocurrencies can be held — but alternatives include wallets that are based online or inside mobile apps, and even written down on paper.

It’s also important to make a distinction between hot wallets and cold wallets. Whereas hot wallets are connected to the internet, cold wallets are not.

After ICO, IEO and IDO, Initial NFT Offering (INO) is a new cryptocurrency crowdfunding mechanism based on the same concept fundamentals that involve offering a set of limited NFTs for sale. 

Companies and individuals have been using ICOs as a way to raise capital or participate in investment opportunities since 2013. From the genius of ICO, there comes the rise of other crypto fundraising mechanisms, namely STO (Security Token Offering), IEO and IDO. 

NFTs are experiencing a massive adoption as lots of prominent musicians, artists, athletes, commercial brands and crypto enthusiasts are participating in the NFT market. INOs have risen in popularity with the NFT hype, something that benefits both content creators and investors.

INO involves offering a set of NFTs on launchpads or marketplaces for sale to public investors.

MetaMask is a cryptocurrency wallet that operates as a plug-in for standard internet browsers such as Chrome and Firefox.

It allows users to manage, transfer and receive Ethereum and ERC-20 tokens — without the need to download the whole blockchain in the process.

As well as allowing digital coins to be stored, MetaMask also enables users to interact with smart contracts and decentralized applications without using a full Ethereum node. 

One of MetaMask’s key features is the use of a 12-word phrase that has to be kept safe or to remembered by the user, as it will be required in the event of forgetting a password.

Minting a Non-Fungible Token

The processes of mining and staking are used to mint cryptocurrency, but minting an NFT is a different procedure. NFTs are added to the Ethereum blockchain and are utilized by creators to sell their photos, videos, and digital 3D objects.

To mint an NFT, users need a cryptocurrency wallet with Ethereum in it. Then, they sign up using their cryptocurrency wallet on an NFT marketplace, such as OpenSea, and create their NFT by uploading their desired file and paying for the creation in terms of ETH. Once the transaction is verified, a new NFT is minted.

These phrases are usually 12 or 24 words long. Each word in the phrase tends to be unrelated to another. Wallet providers will usually provide you a mnemonic phrase when you open a new account — and it’s incumbent on you to write it down carefully and store it in a safe place… ideally in an environment that is not connected to the internet.

Mnemonic phrases come into their own in the event that your hardware wallet is lost, stolen or ends up getting damaged. That’s because it gives you a second chance to retrieve cryptocurrencies that would otherwise be lost.

A mobile wallet is a software program installed on a mobile device to store a user’s payment data, including crypto and financial account APIs. In crypto, mobile wallets are typically mobile-based applications that store private keys. 

Apart from storing, a mobile wallet enables its user to send and receive virtual currencies. These applications are available on leading app stores such as Play Store for Android and App Store for iOS devices.

Notably, mobile wallets do not store the virtual funds themselves but only the means of access, which are private keys in most cases. Crypto-based mobile wallets allow you to track and control your cryptocurrencies. For instance, if you have Bitcoin (BTC) in your wallet, your private keys will enable you to move your BTC to any address within the blockchain. The same goes for centralized mobile wallets that hold fiat money, except that your funds would be stored by your bank or custodian instead of a blockchain.