Glossary
Private Key
The secret number that controls a wallet. Whoever holds it, holds the funds.
A private key is the secret number that authorises transactions from a wallet. Your address is derived from it; anyone who obtains it can move everything, irreversibly.
It is mathematically the same as your seed phrase in a different format. No legitimate service ever needs it. Anyone asking for it is stealing from you.
Related terms
Airdrop
Free tokens distributed to wallet addresses, usually to reward early users of a protocol.
AMM
Automated Market Maker — a protocol that prices assets with a formula instead of an order book.
APR vs APY
APR is the yearly rate without compounding; APY includes compounding and is always higher.
ATH
All-Time High — the highest price an asset has ever traded at.
Bear Market
A prolonged decline, conventionally 20% or more from recent highs.
Bull Market
A prolonged rise driven by new demand, easy credit and rising confidence.