Learn the language of Bitcoin — and avoid the buzzwords that don’t matter.
How to Use This Glossary
Bookmark this page as your quick reference whenever you’re learning, explaining Bitcoin to someone new, or spotting buzzwords designed to confuse beginners.
A
Altcoin
See Shitcoin.
B
Bitcoin Node
A Bitcoin node is software that keeps a full copy of the Bitcoin blockchain and independently verifies every transaction according to Bitcoin’s rules. Running your own node lets you verify your own Bitcoin and trust no one else.
Bitcoin Miner
A device or computer that performs proof-of-work to secure the Bitcoin network and confirm new transactions. Miners compete to find valid blocks, earning newly created Bitcoin and transaction fees as a reward.
C
Cold Storage
See Hardware Wallet.
Crypto
A catch-all term that lumps Bitcoin in with the thousands of Shitcoins. It creates confusion for beginners — Bitcoin isn’t “crypto,” it’s money.
F
Fiat
Government-issued money like dollars or euros. It has no fixed supply and loses value over time because central banks can print it endlessly. Bitcoin was created to solve that problem.
H
Hardware Wallet
A physical device that stores your private keys offline, away from hackers and malware. It’s one of the safest ways to hold Bitcoin long-term.
Examples: Coldcard, Trezor, SeedSigner, and Passport.
Hodl
Born from a drunk typo in a 2013 Bitcointalk forum post titled “I AM HODLING.” The writer meant to say “holding,” but the misspelling stuck — and became a rallying cry to keep your Bitcoin through volatility.
L
Lightning Network
A layer-2 protocol built on top of Bitcoin that enables instant, low-fee transactions. Perfect for small payments, tips, or buying coffee without waiting for confirmations.
P
Private Key
A secret cryptographic key that proves you own your Bitcoin. Whoever controls the private key controls the coins — so never share it or store it online.
Proof of Work (PoW)
The process miners use to secure the Bitcoin network by performing real computational work. This ensures fairness, prevents fraud, and makes Bitcoin’s blockchain nearly impossible to alter.
S
Seed Phrase
A human-readable backup of your wallet’s private keys — usually 12 or 24 words. If your device is lost or damaged, you can restore access using the seed phrase. Protect it like your Bitcoin depends on it — because it does.
Shitcoin
Anything that isn’t Bitcoin. Often centralized, pre-mined, or promoted for hype rather than long-term value. Shitcoins typically enrich insiders while leaving newcomers holding the bag.
W
Wallet
Software or hardware that lets you send, receive, and store Bitcoin. It doesn’t actually “hold” coins — it manages your private keys, which control your Bitcoin on the blockchain.