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
Leverage
It is an investment strategy to gain potential return of the investment by borrowing the money
KYC (Know Your Customer)
KYC stands for "Know Your Customer", a process for business entities are required to verify its clients and assessing them.
Salt (cryptography)
In cryptography, a salt is the additional random input that is added to password or passphrase to make the password hash unique. It prevents from the hashed output password to be cracked so easily by the hacker.
Trading Volume
The amount of the cryptocurrency that has been traded in the last 24 hours.
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