Crypto payments glossary

Terms a business meets when it starts accepting crypto: networks and tokens, wallets, security and integration.

2FATwo-factor authentication (2FA) requires a second proof of identity, such as a one-time code from an app, in addition to a password.API keyAn API key is a secret token that identifies and authenticates your application when it calls a service’s API.Bech32Bech32 is the Bitcoin address encoding used for SegWit addresses that start with bc1.BEP-20BEP-20 is the token standard on BNB Smart Chain, functionally the same as ERC-20 on Ethereum.Bounceable address (TON)A bounceable TON address tells the network to return funds if the destination contract cannot accept them; a non-bounceable one does not.Clipper malwareClipper malware monitors the clipboard and replaces a copied crypto address with the attacker’s address.Cold walletA cold wallet stores private keys offline, so they cannot be reached by online attacks.Crypto invoiceA crypto invoice is a request for payment in cryptocurrency with a fixed amount, a destination and a deadline, usually sent as a link.Crypto payment gatewayA crypto payment gateway is a service that lets businesses accept cryptocurrency payments and credits them automatically.Crypto payoutA crypto payout is a transfer of cryptocurrency from a business account to an external wallet, such as a withdrawal or a payment to a partner.Custodial walletA custodial wallet is one where a service holds the private keys and manages funds on the user’s behalf.Deposit addressA deposit address is a crypto address assigned to a specific customer, so every transfer to it is credited to that customer’s account.EIP-55EIP-55 is a checksum for Ethereum addresses encoded in the capitalisation of their hex letters.ERC-20ERC-20 is the standard interface for fungible tokens on Ethereum and other EVM-compatible blockchains.Exchange rate lockAn exchange rate lock fixes the amount of cryptocurrency the customer must pay for a price set in fiat, for a limited period.Gas feeA gas fee is the payment to the network for processing a transaction, paid in the blockchain’s native coin.HMAC signatureAn HMAC signature is a code computed from a message and a shared secret that proves the message was sent by someone who knows the secret and was not altered.Hot walletA hot wallet is a crypto wallet whose private keys are on an internet-connected device or server, ready to sign transactions at any time.Idempotency keyAn idempotency key is a unique value sent with an API request so that retrying the same request does not create a duplicate operation.JettonA jetton is a fungible token on The Open Network (TON), defined by the TEP-74 standard.Memo / tagA memo (also tag or comment) is an extra field in a transfer that identifies the recipient or payment when many users share one address.Network confirmationsA confirmation is each block added to the chain after the block containing a transaction; more confirmations mean a lower risk of reversal.Payment page (checkout)A crypto payment page is a hosted checkout that shows the customer what to pay, where and on which network, and tracks the payment status.Private keyA private key is a secret number that proves ownership of a crypto address and is used to sign transactions from it.Seed phraseA seed phrase (recovery phrase) is a list of words from which a wallet can regenerate all its private keys.SPL tokenAn SPL token is a token issued with Solana’s Token Program, the Solana equivalent of ERC-20.StablecoinA stablecoin is a cryptocurrency token designed to keep a stable price, usually equal to one US dollar.Sweep (fund consolidation)A sweep is the transfer of funds from many receiving addresses into one central wallet.TRC-20TRC-20 is the TRON blockchain’s standard for fungible tokens, best known as the network for USDT TRC-20.TRON energyTRON energy is a network resource consumed by smart-contract calls such as USDT TRC-20 transfers; without it, TRX is burned to pay the cost.TXIDA TXID (transaction ID or hash) is the unique identifier of a transaction, used to find and verify it in a block explorer.Underpayment and overpaymentUnderpayment is when a customer sends less than the invoice amount; overpayment is when they send more.USDCUSDC is a US dollar stablecoin issued by Circle, redeemable one-to-one and available on several blockchains.USDTUSDT (Tether) is a stablecoin designed to track the US dollar one-to-one and issued as a token on many blockchains.Wallet addressA wallet address is a public identifier, derived from a key, to which cryptocurrency can be sent on a specific blockchain.WebhookA webhook is an HTTP request that a service sends to your server automatically when an event occurs, such as a payment being completed.

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