Glossary

Address

The Public Key, this is where you receive the bitcoins. Like an account number.

Blockchain

The heart of Bitcoin. The public ledger, a public record of all bitcoin transactions. At the same time it is also a revolutionary new type of platform of the internet.

Brain Wallet

A type of wallet that only exists in your head. This is enabled by an online 'brain wallet generator' which converts a 12 word phrase, chosen by you, into a cryptographic key which can then be used online to use your bitcoins.

BTC, ฿, XBT

Abbreviations used for Bitcoin.

Cold Storage

Bitcoin storage in a wallet -- usally a paper wallet — OFFLINE.

Hot Storage

Any bitcoin wallet that is ONLINE, and or connected to the internet.

Hybrid Wallet

A wallet which stores and calculates the blockchain on a server but holds your bitcoins on your computer. ELECTRUM

mBTC

‘milli-bitcoin' or one one-thousandth of a bitcoin = .001 BTC.

Paper Wallet

A type of physical wallet which allows you to store bitcoins but not send them.

Private Key

The key to spend or 'unlock' the bitcoin. Must be kept secret!

Public Key

For us newbies it is simply the same as the bitcoin address.

Public Ledger

Literally the public ledger of the bitcoin blockchain. Every single bitcoin transaction that ever took place is recorded here for everyone to see.

Wallet

The software which 'holds' your bitcoins and manages your bitcoin addresses like a bank account and enables you to send or receive bitcoins.

Web Wallet

An online wallet which holds your bitcoins and acts as your account manager enabling you to send or receive bitcoins.

μBTC

‘micro-bitcoin' or one one-millionth of a bitcoin = .000001