Wallet
By CoinGecko | Updated on Mar 03, 2020
Analogous to an online bank account or a email client software. Cryptocurrency wallets is an interface that lets users store, send and receive cryptocurrencies. There are 3 popular categories of wallets, "Custodial" - where private key security (and by proxy, the cryptocurrencies themselves) is handled by a third party, "Hot" - wallets that is meant for frequent use, and "Cold" - wallets that is meant for secure and long term storage.
Related Terms
Distributed Denial of Service (DDoS) Attack
A common cyber-attack tactic where a perpetrator diverts large amounts of traffic towards a particular network or service in an effort to disrupt normal services.
Rug Pull
Sudden removal of liquidity which typically leads to asset prices crashing from the lack of liquidity to absorb buy/sells.
Mining Rig
A dedicated hardware to mine
Impermanent Loss
Temporary loss of funds due to volatility leading to divergence in price between token pairs provided by liquidity providers.
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