Crypto vocabulary, without the jargon.

From the technical basics (Bitcoin, blockchain, wallet) to European regulatory vocabulary (MiCA, CASP, licence), through fees and taxation, explained simply and without taking sides.

51% attackTechnical & security

A scenario where a single entity manages to control more than half of a network's computing power (or stake, under Proof of Stake), potentially allowing it to alter the order of recent transactions. Harder to pull off the more decentralised and powerful the network is.

AirdropMarket

The free distribution of tokens to a set of users (often holders of another asset or early users of a service), generally for marketing purposes or to spread out ownership.

AltcoinCrypto basics

Generic term for any crypto-asset other than Bitcoin.

ArbitrageMarket

Exchanging one crypto-asset for another rather than going through a fiat currency, to adjust a portfolio's composition. Can also refer, in market finance more broadly, to exploiting a price gap between two platforms.

Asset managerPlatform types

A provider that manages a crypto-asset portfolio on behalf of the client (a managed-portfolio mandate), rather than letting them choose each purchase. Charged as entry fees and an annual management fee on assets under management, usually alongside a performance fee.

ATH / ATLMarket

All Time High / All Time Low: the highest, respectively lowest, price ever reached by an asset since its creation.

Bank / neobrokerPlatform types

A bank or neobank that offers crypto-asset purchases as one feature among others (current account, card...), rather than as its main activity.

Bear market / Bull marketMarket

A prolonged downward (bear) or upward (bull) market. Vocabulary common to financial markets in general, not specific to crypto-assets.

Bitcoin (BTC)Crypto basics

The first crypto-asset, created in 2009. A decentralised digital currency: no central bank issues it, transactions are validated by a public network (the Bitcoin blockchain).

BlockchainCrypto basics

A ledger of transactions shared across many computers, where each block of transactions is linked to the previous one. No single party can alter it after the fact.

BrokerPlatform types

A platform that sets its own buy and sell price (often via a built-in spread), with no order book visible to the client. Usually a simpler experience than an exchange.

CASPRegulation & licensing

Crypto-Asset Service Provider, the status of a MiCA-licensed entity. The European equivalent of, and replacement for, the French PSAN status.

CFDPlatform types

Contract for Difference: a derivative product that mirrors an asset's price movement without actually holding the underlying crypto-asset. Never to be confused with a spot purchase: neither the risks nor the tax treatment are the same.

CoinCrypto basics

A crypto-asset native to its own blockchain (Bitcoin on the Bitcoin blockchain, Ether on Ethereum). Distinct from a token, which is issued on an existing blockchain rather than its own.

Cold storageProducts & custody

Keeping private keys offline, disconnected from the internet, to reduce the risk of remote hacking. The opposite of a hot wallet, which stays permanently connected.

ConsensusTechnical & security

The mechanism by which participants in a blockchain network agree on the exact state of the ledger (which transactions are valid), without a central authority to decide. Proof of Work and Proof of Stake are the two most common mechanisms.

Crypto addressCrypto basics

The public identifier to which crypto-assets are sent, the equivalent of an account number. Safe to share; the associated private key, on the other hand, must never be shared.

Crypto-assetCrypto basics

Generic term for any digital asset relying on cryptography and a shared ledger (blockchain or equivalent technology), whether a currency like Bitcoin, an application token or an NFT.

DAOCrypto basics

Decentralised autonomous organisation: a structure whose governance rules are written into smart contracts rather than managed by traditional leadership, with decisions made by a vote of governance token holders.

DCAFees & pricing

Dollar Cost Averaging, or scheduled buying: investing a fixed amount at regular intervals rather than all at once, to smooth out the entry price.

DeFiCrypto basics

Decentralised finance: financial services (lending, exchange, savings) that operate without a traditional intermediary, via autonomous programs (smart contracts) on a public blockchain.

Double spendingTechnical & security

The theoretical risk that the same unit of a crypto-asset is spent twice. This is precisely the problem that blockchain and its consensus mechanisms are designed to prevent, without a central ledger.

ERC-20Technical & security

The most widely used technical standard for creating a token on the Ethereum blockchain, without having to build a dedicated blockchain. Most Ethereum tokens, including many stablecoins, follow it.

ESMARegulation & licensing

European Securities and Markets Authority, the EU authority that keeps the centralised register of CASPs licensed across the Union.

Ethereum (ETH)Crypto basics

The second blockchain by market cap. Unlike Bitcoin, it can run programs ("smart contracts"), which underpins most other tokens and decentralised applications.

European passportRegulation & licensing

The principle whereby a MiCA licence issued by one national authority authorises operation in the other 26 member states, with no additional local licence. The authority of origin (French or from another member state) is not a level of trust: once licensed, a platform operates on equal footing everywhere in the EU.

ExchangePlatform types

A trading platform that allows buying, selling and exchanging crypto-assets, generally via a public order book. Kraken or Bitvavo are examples.

Flat tax / PFUTaxation

The single flat-rate tax (prélèvement forfaitaire unique) applied in France to individuals' capital gains on crypto-asset disposals (31.4% in 2026, social contributions included). Opting for the progressive income tax scale instead remains possible.

Form 2086Taxation

French tax form detailing the calculation of the annual capital gain or loss on digital asset disposals.

Form 3916-bisTaxation

Mandatory declaration of any account held on a platform established outside France, including a platform MiCA-licensed in another EU member state.

FuturesMarket

A forward contract: the commitment to buy or sell an asset at a price and date set in advance. Used to speculate on a crypto-asset's future price without holding it, like a CFD.

HalvingMarket

A mechanism built into the Bitcoin protocol that cuts the reward paid to miners in half roughly every four years, slowing the creation of new bitcoins toward a fixed cap of 21 million units.

HashTechnical & security

A unique digital fingerprint generated from a piece of data: the same data always produces the same hash, and the slightest change completely alters the result. Used to verify the integrity of a blockchain's blocks.

ICOCrypto basics

Initial Coin Offering: a fundraising method where a project sells part of the tokens it issues in exchange for other crypto-assets, before they're more broadly available on the market.

IFUTaxation

Imprimé Fiscal Unique: an annual summary of transactions that a financial institution can send to the tax authorities and to its client, when the platform offers it.

Integrated walletProducts & custody

A custodial wallet built natively into the app, with no need for an external wallet. The platform holds the keys on the user's behalf, the opposite of a withdrawal to a personal wallet.

KYCProducts & custody

Know Your Customer, the identity verification procedure required before opening an account on a regulated platform.

Maker / TakerFees & pricing

On an order book, the maker places an order that waits (often cheaper), the taker executes immediately at the available price (often more expensive). Used on advanced interfaces (Kraken Pro, Coinbase Advanced...).

Margin tradingMarket

Borrowing funds from the platform to take a spot position larger than one's available capital (leverage). Amplifies potential gains as much as losses, up to the total loss of the stake committed.

Market capMarket

The total value of a crypto-asset in circulation, calculated by multiplying its unit price by the number of units in existence. An indicator of size, not quality.

MiCARegulation & licensing

Markets in Crypto-Assets, the European regulation governing crypto-asset service providers since 30 December 2024, with the national transition period ending on 1 July 2026. A licence obtained in one member state acts as a passport for the other 26.

MiningTechnical & security

The activity of validating transactions and creating new blocks on a Proof-of-Work blockchain, in exchange for a reward in crypto-assets.

NFTCrypto basics

Non-Fungible Token: a unique, non-interchangeable digital asset that certifies ownership of a piece of content or a right. Unlike a standard crypto-asset, two NFTs are never strictly equivalent.

NodeTechnical & security

A computer that takes part in a blockchain network by keeping a copy of the ledger and relaying transactions. The more independent nodes a network has, the more decentralised it's considered to be.

Non-custodialProducts & custody

A model where the platform never holds the client's funds: purchased crypto-assets are sent directly to a personal wallet.

OptionsMarket

A contract that grants the right, without the obligation, to buy or sell a crypto-asset at a set price before a given deadline, in exchange for paying a premium.

Order bookFees & pricing

A public record of pending buy and sell orders on a platform. A genuine order book gives a direct market price, with no hidden margin from the platform.

P2P (peer-to-peer)Market

A market where users exchange crypto-assets for currency directly with each other, with the platform acting as an intermediary or escrow rather than a counterparty. Not to be confused with simply sending crypto-assets between two users.

Private keyTechnical & security

The secret component of a crypto wallet, which allows transactions to be signed and therefore the assets to actually be controlled. Must never be shared: whoever holds it controls the funds.

Proof of reservesProducts & custody

A publication, verifiable by an independent third party, that a platform genuinely holds its clients' assets. Still rare and not standardised across the industry as of today.

Proof of StakeTechnical & security

Consensus mechanism where the right to validate blocks depends on the amount of crypto-assets locked up by the participant, rather than their computing power. Used by Ethereum since 2022, significantly less energy-intensive than Proof of Work.

Proof of WorkTechnical & security

Consensus mechanism where participants (miners) must solve a complex computation to validate a block of transactions, in exchange for a reward. Used by Bitcoin; energy-intensive.

PSANRegulation & licensing

Prestataire de Services sur Actifs Numériques, the former French regime that preceded MiCA. Progressively replaced by the CASP licence over the course of the transition period.

SatoshiCrypto basics

The smallest unit of Bitcoin, one hundred-millionth of a BTC (0.00000001 BTC). Named after Satoshi Nakamoto, the pseudonym under which Bitcoin was created.

Seed phrase (recovery phrase)Technical & security

A series of words generated when a wallet is created, which allows it to be fully restored if the device is lost. Equivalent to the private key itself: its disclosure or loss is irreversible.

Simple purchase (Simple-Buy)Fees & pricing

A one-click purchase interface, at a price shown immediately, without going through an order book. Simpler to use, but the total cost (spread included in the displayed price) is often higher than on an advanced interface.

Smart contractTechnical & security

A program that runs automatically on a blockchain once predefined conditions are met, with no human intervention or intermediary. Popularised by Ethereum.

SpreadFees & pricing

The gap between the buy (or sell) price and an asset's real market price, often invisible within fees shown separately. One of the hardest costs to compare from one platform to another, since it's rarely published as a standalone fee line.

StablecoinCrypto basics

A crypto-asset designed to hold a stable value, most often pegged to a currency such as the dollar or the euro (e.g. USDT, USDC, EURCV).

StakingProducts & custody

Locking up crypto-assets to help validate a blockchain, in exchange for a reward. The platform generally takes a commission on the rewards.

TokenCrypto basics

A digital asset issued on an existing blockchain (most often Ethereum) rather than on its own blockchain. Can represent a currency, a usage right or an asset.

VolatilityMarket

The magnitude of an asset's price swings over a given period. Crypto-assets typically show markedly higher volatility than traditional financial assets.

WalletCrypto basics

The tool that holds the keys needed to spend crypto-assets. Can be managed by a platform (custodial) or by the user themselves (non-custodial, see below).

Web3Crypto basics

Term describing a vision of the internet built on blockchains and decentralisation, where users would have more control over their data and digital assets than on today's web.

White paperCrypto basics

The technical document presenting how a crypto project works, its goals and its architecture, usually published before or at the time of its launch.

Withdrawal to a personal walletProducts & custody

The ability to move crypto-assets off the platform, to a wallet whose keys only the user holds.