New to Crypto? Here’s a general explanation on common terms

A cryptocurrency that powers the Ethereum blockchain. The Ethereum blockchain allows developers to deploy programs/apps on it for anyone to use. It is by far the most popular blockchain. Most NFTs are issued on Ethereum.

Financial programs that are on the blockchains. Users use them. You can think about them like they are “apps”. Examples include protocols like “Uniswap”.

In crypto, users can “stake” or lock up tokens in a smart contract. They often earn yield or rewards in exchange for locking up their tokens. This is common with blockchains like Ethereum and Solana where you stake tokens.

Ethereum Virtual Machine. This is any blockchain that runs on the specific tech that also powers Ethereum. There are a lot of blockchains that use similar technology like Arbitrum, Optimism, Polygon, etc… all of these blockchains are in the “EVM family”.

A token on a blockchain that is unique. The main use case is digital art.

These are popular marketplaces to trade NFTs. So if you want to buy or sell an NFT, you’d go to one of these marketplaces.

A token is based on a meme or something that doesn’t really have any value, but people make it have value. Like Dogecoin or Shiba inu coin.

On blockchains, you can lock up tokens, like an NFT, and get a loan off of it. For example, you lock up some ETH and get a loan of 10,000 USDC (a token pegged to the US dollar). Or you lock up one of your jpegs and get a loan for 10,000 USDC. You have to pay back this loan to get your assets back.

These are popular wallets that most people use. A wallet holds your cryptocurrency (similar to an actual wallet that holds cash). People use wallets to store their cryptocurrency, and also to send it places or to use it (maybe to trade it for something else).