2FA (Two-Factor Authentication)
An extra layer of security used to ensure that people trying to gain access to an online account are who they say they are, typically requiring a second form of identification.
AML/CTF (Anti-Money Laundering/Counter-Terrorism Financing)
Regulations designed to prevent illegal activities such as money laundering and terrorism financing in financial systems, including digital asset exchanges.
API (Application Programming Interface)
A set of protocols and tools that allows different software applications to communicate with each other, often used for integrating trading features on exchanges.
ATO (Australian Taxation Office)
The Australian government agency responsible for the administration of taxation laws and regulations, including those related to bitcoin transactions.
AUD (Australian Dollar)
The fiat currency and legal tender of Australia, commonly used for trading and purchasing bitcoin in the Australian market.
AUSTRAC
The Australian Transaction Reports and Analysis Centre, the government agency responsible for monitoring financial transactions and enforcing anti-money laundering laws.
Bitcoin (uppercase B)
The decentralised peer-to-peer network and protocol that enables the transfer of value without intermediaries, such as banks or governments. Bitcoin operates on a public ledger known as the blockchain.
bitcoin (lowercase b)
The unit of currency within the Bitcoin network, often referred to as BTC. It is used as a medium of exchange, store of value, and unit of account.
Blockchain
A decentralised, distributed ledger technology that records all bitcoin transactions across a network of computers, ensuring transparency and security.
BTC
The ticker symbol for bitcoin, used in trading and financial markets to represent the asset.
Cold Wallet/Cold Storage
A method of storing bitcoin offline to protect it from online threats. Cold wallets are usually hardware devices.
Company Extract
A document that provides information about a company's registration details, often required for verification purposes.
DCA (Dollar-Cost Averaging)
An investment strategy where a fixed dollar amount of bitcoin is purchased at regular intervals, regardless of its price, to reduce the impact of volatility.
Deposit (AUD)
The process of transferring Australian dollars into an exchange from a bank account.
Deposit (BTC)
The process of transferring bitcoin into an exchange or wallet from another wallet or address.
Digital Assets
Assets that exist in a digital form, such as bitcoin.
Digital Wallet
A software application or online service that allows users to store, send, and receive bitcoin and other digital assets.
Fiat Currency
Government-issued currency, such as the Australian Dollar (AUD), that is not backed by a physical commodity.
FOMO (Fear of Missing Out)
A psychological phenomenon that drives individuals to buy bitcoin due to the fear of missing potential gains.
FUD (Fear, Uncertainty, Doubt)
Negative information or rumours spread about Bitcoin to create fear among investors.
GST (Goods and Services Tax)
A tax imposed on the supply of goods and services in Australia, including the sale of bitcoin under certain circumstances.
HODL
A deliberate misspelling of "hold" humorously interpreted as an acronym for “Hold On for Dear Life”, which refers to the strategy of holding onto bitcoin for the long term rather than selling it.
KYC (Know Your Customer)
A regulatory process used by exchanges to verify the identity of their users, often requiring the submission of personal information and documents.
Limit Order
An order to buy or sell bitcoin at a specified price or better. This allows traders to set their desired entry or exit points.
Lightning
Referring to the Lightning Network, a second-layer protocol that enables faster and cheaper transactions on the Bitcoin blockchain.
Market
Refers to the trading environment where bitcoin is bought and sold, encompassing various exchanges and platforms.
Market Capitalisation
The total value of bitcoin, calculated by multiplying the current price by the total supply in circulation.
Market Maker
A trader or entity that provides liquidity to the market by placing buy and sell orders for bitcoin, profiting from the spread between the two.
Market Order
An order to buy or sell bitcoin immediately at the current market price.
Market Price
The current price at which bitcoin is being bought and sold in the market.
Market Taker
A trader who places an order that matches an existing order in the market, effectively taking liquidity from the market.
Maker Fee
A fee charged to market makers for providing liquidity to the exchange.
Multi-Sig (Multi-Signature)
A security feature that requires multiple signatures (private keys) to authorise a transaction. This adds an extra layer of protection, as more than one party must approve a transaction before it can be executed. Multi-Sig wallets are often used for joint accounts or organisational funds, enhancing security against unauthorised access.
Order
An instruction to buy or sell bitcoin at a specific price or within a certain time frame.
Order Book
A record of all open buy and sell orders for bitcoin on an exchange, showing the price and volume of each order.
Private Key
A secure digital code that allows the owner to access and manage their bitcoin. It must be kept confidential to prevent unauthorised access.
Public Key (PubKey)
A cryptographic code that allows users to receive bitcoin. It can be shared with others to facilitate transactions.
Sat
The smallest unit of bitcoin, named after its creator, Satoshi Nakamoto. One bitcoin equals 100 million sats, also known as satoshis.
Single-Sig (Single Signature)
A standard method of transaction authorisation in which a single private key is required to sign and approve a transaction. Single-Sig wallets are simpler and easier to use but offer less security than Multi-Sig setups, as the loss or compromise of the private key grants full access to the wallet.
SMSF (Self-Managed Superannuation Fund)
A Self-Managed Superannuation Fund (SMSF) is a private superannuation fund that is managed by its members. SMSFs allow individuals to take control of their retirement savings by investing in a range of assets, including property, shares, and managed funds. Members of an SMSF are responsible for the fund's compliance with superannuation and taxation laws, making it essential for them to be knowledgeable about these regulations.
Spread
The difference between the buy (ask) price and the sell (bid) price of bitcoin in a trading market.
Taker Fee
A fee charged to market takers for executing trades on an exchange.
Time in Force
Instructions specifying how long an order will remain active before it is executed or expires.
Trust Deed
A legal document that outlines the terms of a trust, which may be relevant for certain investment structures involving bitcoin.
TXID (Transaction ID)
A unique identifier assigned to each bitcoin transaction, allowing users to track and verify transactions on the blockchain.
Withdrawal (AUD)
The process of transferring Australian dollars from an exchange to your bank account.
Withdrawal (BTC)
The process of transferring bitcoin from an exchange or wallet to another wallet or address.