Bitcoin ATM – A bitcoin ATM is a machine similar to a cash ATM machine from which a consumer can buy bitcoin with cash.
Blockchain – A public ledger against which individual bitcoin transactions are confirmed and individual bitcoin balances can be tracked.
Cryptocurrency – Currency created mathematically . The term is frequently used in contrast to fiat currency the value of which has been arbitrarily assigned by a government.
Digital Currency – Currency created anonymously by computer – also known as “virtual currency.”
Exchange – A place to convert different types of money and other assets. Bitcoin exchanges, for instance, are typically used to trade cryptocurrency for fiat currency
Fiat Currency – Is a currency like the dollar or euro, for instance, which is assigned arbitrary value by government decree, as opposed to a currency like gold which has intrinsic value. The term is used now in contrast to bitcoin which obtains its value progressively through peer-to-peer networks.
Mining – The act of generating new bitcoins by solving cryptographic problems using computing hardware.
Peer-to-Peer – Computer parlance for the distribution of the workloads between peers. The term is frequently used to contrast with banks or central clearing houses through which fiat currency transactions and stock and bond transactions must be verified.
Virtual Currency – Currency created anonymously by computer – also known as “digital currency.”
Wallet – A method of storing bitcoins . Often compared to a physical wallet which holds printed currency. A wallet holds the coded keys associated with bitcoin addresses. The blockchain is the ledger of the bitcoin transactions which match up with those addresses.