Term | Definition |
Blockchain | A digital ledger (record book) that stores every transaction for a cryptocurrency. It's maintained by a global network of computers and is extremely difficult to tamper with. |
Bitcoin (BTC) | The first and most widely known cryptocurrency. Created in 2009, it has a fixed supply of 21 million coins. |
Confirmation | When your crypto transaction has been verified and recorded on the blockchain. Some transactions require multiple confirmations before they're considered final. More confirmations means more security. |
Crypto / Cryptocurrency | Digital money that runs on blockchain technology. Bitcoin, Ethereum, Litecoin, and Dogecoin are all examples. |
Debit card transaction | Buying or selling cryptocurrency using your debit card through the Coinme app. |
Exchange fee / Cash exchange fee | The percentage-based fee Coinme charges on transactions. This is separate from network fees and retail service fees. See: Coinme pricing & fees |
Ethereum (ETH) | A cryptocurrency and blockchain platform that supports smart contracts and decentralized applications. The second-largest cryptocurrency by market value. |
Fiat | A term for government-issued money like US dollars, euros, or yen. In crypto, "fiat" is used to distinguish traditional money from cryptocurrency. |
Gas fee | The fee paid to process a transaction on the Ethereum network. "Gas" is Ethereum's term for network fee. |
Market price | The current trading price of a cryptocurrency, determined by supply and demand across global exchanges. |
Network fee (transaction fee) | The fee paid to the blockchain network (to miners or validators) for processing your transaction. Coinme doesn't control or receive network fees. See: What are network fees and why do they change? |
Pending | A transaction that has been submitted to the blockchain but hasn't been confirmed yet. It's in line, waiting to be processed. |
Processing | In the Coinme app, this means your transaction has been initiated but is waiting for confirmation, either from the retailer (for cash purchases) or from the blockchain (for sends). |
Retail service fee | The flat fee charged by a retailer like Walmart or CVS when you use Coinme Cash. This goes to the retailer, not to Coinme. |
Satoshi | The smallest unit of Bitcoin. One satoshi equals 0.00000001 BTC. Named after Bitcoin's creator, Satoshi Nakamoto. |
Spread | The difference between the buy price and the sell price of a cryptocurrency. A wider spread means you're paying slightly more to buy or receiving slightly less when you sell. |
Voucher | A code or receipt associated with certain Coinme cash transactions, used to verify and complete the purchase. |
Wallet | A place where cryptocurrency is stored. Your Coinme account includes a wallet for each cryptocurrency you hold. |
Wallet address | A unique string of letters and numbers that identifies your wallet. Think of it like an email address for crypto. See: What is a wallet address? |
New to crypto? Visit our Learn the basics collection for more guides.