Glossary of Crypto/NFT Terminology

If you’re new to the wonderful world of crypto getting your head around all the terms and jargon can be pretty overwhelming. We’ve complied our glossary of common crypto terms to help you get up to speed.


Sending coins or tokens to specific wallet — often for free.

Ape In

Investing in a new crypto project — usually in a hurry without doing much research.


An asset is a digital collectible, such as an NFT, Token or Cryptocurrency.


Blockchain is a distributed digital ledger that stores data of any kind. A blockchain technology is commonly used for cryptocurrency transactions, NFT ownership or DeFi smart contracts. Blockchain is unique in that it’s totally decentralized, rather than being maintained in one location. Blockchain database are held on multiple computers, referred to as nodes, spread out across a network.


Destroying an NFT and removing it from circulation.


A blockchain with cheaper fees and less outage than some other popular protocols.


Something that has value or rarity — a unique piece of digital art that holds an intrinsic value.


A decentralized autonomous organization(DAO) is an autonomous organization regulated through a set of rules embedded on computer programs, technically known as smart contracts.


DApp is an abbreviation for Decentralized App. Like a standard digital app but using blockchain technology — storing copies of its data on a large number of participating computers owned by users, not by the creators of the dapp.


Project that is influenced by another project — can work if done right, but watch out for blatant knock offs.

Diamond Hands

Someone who plans to hold onto an NFT for the long-term, regardless of market conditions. Opposite of Paper Hands.


Popular online chat application.


In crypto its always a good idea to Do Your Own Research.


Some who buys an NFT for the sole reason of re-selling it for profit as soon as possible.

Floor Price

The lowest sale price for an NFT from a certain collection.


Gas is the fee you pay to buy assets, send ETH or set up a smart contract on the Ethereum blockchain. The fee is paid to cover the computing energy required to process and validate transactions.


Generative art is when a computer program randomly selects different graphic elements (traits) and layers them on top of each other to create a new and unique art piece. The more traits you create, the more unique art pieces you can generate.


‘hold on for dear life,’ refers to taking a long-term approach to cryptocurrency regardless of price increase and decreases.

InterPlanetary File System (IPFS)

Is a peer-to-peer distributed file system that makes it much more difficult to pull the plug and make published information suddenly disappear.


Trading platform where NFT buyers and sellers can trade.


The metadata in an NFT is the actual content and the description about the content described in the contract stored on the blockchain.


A digital universe.


The process of adding an asset to the blockchain.


When an NFT Collection rapidly appreciates in value.

Non-Fungible Token

A unique asset that is not interchangeable with any other asset(s). Non-fungible assets represent specific information (IP rights for example), and act as one unit that cannot be divided into smaller fractions.

Fungible Token

An asset that is interchangeable and indistinguishable with some other asset(s). For example same denomination bills and coins are fungible assets.

Paper Hands

Risk adverse collector who sells their asset too soon.


A passphrase is a sentence like string of words used for authentication that is longer than a traditional password and difficult to crack. If you forget your passphrase your funds can be lost forever — storing and hiding your passphrase on an indestructible steel plate is one recommended way to keep your passphrase secure.


NFT rarity decides how rare an NFT is and in turn, how valuable it is.


% of future sales that get paid either back to the creator or some other party.

Rug Pull

When a NFT project is abandoned after its initial sale.

Smart Contract

A smart contract is a self-executing contract with the terms of the agreement between buyer and seller being directly written into lines of code.


Utility NFTs are NFTs that offer clearly defined intrinsic value — providing a use to the digital asset outside of owning a piece of artwork.


A wallet is an app that allows cryptocurrency users to store, send and receive digital assets.


Individual that owns a large proportion of a collection.


A predefined list of people (typically designated by Wallet addresses) who are able to mint an NFT in advance of a public mint.




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