Crypto speak

Bitcoin

The original decentralised digital currency, launched in 2009.

Stablecoin

A cryptocurrency whose value is pegged to an external asset — for example, the dollar.

Altcoin

Strictly any coin that isn’t Bitcoin; but generally used to describe a smaller, newer cryptocurrency.

DeFi

Decentralised finance, and the opposite of TradFi — traditional finance.

Pump-and-dump

This is when a group of traders spread misleading (or incorrect) information in order to inflate the price of a coin, then sell it off at a higher price to make a profit. The currency inevitably crashes, and other investors lose out.

Crypto lender

Basically an unregulated bank. Invest your crypto with a lender and they offer a return on your investment. The lender finances this by betting your cryptocurrency on other cryptocurrency.

Blockchain

A shared and unalterable digital ledger that keeps a record of transactions.

Web3

A voguish term for a new iteration of the internet — a collaborative project created by users rather than big companies, in which the main currency is crypto tokens.