1. Cryptocurrency: Cryptocurrency refers to a digital or virtual currency that uses cryptography for security. It is decentralized and operates independently of a central bank.
2. Virtual currency: Virtual currency is a type of unregulated digital currency that is often used in online transactions. It exists only in electronic form and does not have a physical counterpart like traditional money.
3. Cryptocurrency exchange: A cryptocurrency exchange is a platform where you can trade different cryptocurrencies with other users. It allows for the buying, selling, and storing of digital assets.
4. Blockchain: Blockchain is a decentralized digital ledger that records transactions across multiple computers. It is the underlying technology behind most cryptocurrencies, ensuring transparency and security.
5. Mining: Mining is the process of validating and adding new transactions to the blockchain. Miners use powerful computers to solve complex mathematical problems and are rewarded with newly created cryptocurrencies.