Your Pocket Crypto Glossary: 10 Words You Need to Know

Hey, I know the internet’s full of endless glossaries with 80 words that’ll blow your mind. But today I’m bringing you the pocket version: just 10, the ones you really use when starting out, explained like your buddy who’s already in the game would tell you.

The 10 Words You Actually Need to Know

They’re not in alphabetical order—they go by how you’ll encounter them: basics first, then what you need for action. Let’s go!

1. Cryptocurrency

It’s digital money that doesn’t go through banks or government. It lives purely online and you send it straight to whoever you want, no permission needed. Easy, right? Next.

2. Bitcoin (BTC)

The first and the queen. Created in 2009 by some guy named Satoshi nobody knows. No company runs it, and people see it as digital gold for long-term value storage. No price bullshit. Pretty interesting.

3. Stablecoin (USDC / USDT)

The real deal is useful for us living in Mexico. Always worth a buck, doesn’t dance like Bitcoin. To shield your pesos from inflation without gambling. At B4bit we mainly use USDC, which is properly backed 1-to-1 with real dollars.

4. Blockchain

Think of it like the neighborhood IOU notebook, but digital: everyone sees it, nobody erases or changes it. That’s where everything that happens with crypto gets recorded, totally transparent. It’s the shared ledger nobody can erase or modify.

5. Wallet (digital wallet)

A drawer for cryptos, but digital. Whether it’s an app on your phone, a hardware gadget, or an account on a platform. At B4bit we have it ready—you just use it, no hassle setting it up. We handle that for you.

6. Private key

Your master key to crypto, like your bank PIN, but if you lose it, bye-bye. No bank to help you. Take care of it, dude. At B4bit we safeguard it with Fireblocks so you can chill. But others don’t do it that way…

7. Exchange

The digital shop to buy, sell, or swap crypto. Like a currency exchange but 24/7. B4bit is a good one to start with, everything clear from the get-go.

8. Fee

The little bill you pay for every crypto move. There’s always one—the cool thing is we tell you upfront, unlike others… At B4bit, the SPEI fee comes out at 1 USDC fixed + 0.35% spread, no surprises.

9. SPEI

The bridge between your pesos and the crypto world. You transfer from your bank like always and get crypto in minutes. It’s Mexico’s interbank payment system (Banxico), the one we use at B4bit to make it quick and hassle-free.

10. KYC (Identity verification)

Why do they ask for your ID and stuff? To comply with Mexico’s Fintech Law and protect you from money laundering. It’s like opening a bank account—legal and required by the CNBV.

Ready to Start?

With this you already know the basics so you won’t get lost. Open your account in 3 minutes and hit the gas. What are you waiting for, bro? At your own pace.