Glossary
Two-Factor Authentication (2FA)
A second login step, usually an app code or a hardware key, on top of a password.
Two-factor authentication adds a second requirement to a login: something you know (the password) and something you have (a phone, a hardware key, an authenticator app).
The choice matters. SMS codes can be taken by SIM-swapping, which is how most exchange account takeovers happen. An authenticator app or a hardware security key is meaningfully stronger and costs nothing to set up.
Enable it on the exchange, on the email address attached to the exchange account, and on your password manager. Anyone who gets into your email first can otherwise reset your exchange password.
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.