What is a crypto wallet?

A crypto wallet stores your private keys and allows you to send and receive cryptocurrencies. Software wallets (Exodus, Trust Wallet) are for daily use; hardware wallets (Ledger) offer maximum security.

What is a seed phrase?

A seed phrase (12-24 words) is your wallet's master key. Never share it, never store it digitally — write it down on paper and keep it safe. Anyone with your seed phrase can steal your funds.

What are gas fees in crypto?

Gas fees are transaction fees paid to miners on networks like Ethereum. Fees vary based on network congestion. Ethereum gas fees range $2-15; Litecoin fees are $0.01-0.10.

📖 50+ TERMS · COMPLETE DICTIONARY

Crypto Gambling Glossary

Your complete dictionary of crypto gambling terms. From wallets and seed phrases to gas fees and cold storage — understand every term you'll encounter when gambling with Bitcoin and Ethereum.

50+ Terms Defined

100% Expert Explained

5 min Quick Reference

📖 VIEW ALL TERMS 📚 GENERAL GLOSSARY

Last updated: March 24, 2026 by Kevin Lee (Crypto Specialist) and Michael Johnson (Lead Reviewer)

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AAltcoin BBitcoin CCold Storage EEthereum GGas Fee HHardware Wallet KKYC LLitecoin PPrivate Key SSeed Phrase UUSDT WWallet

📖 Complete Crypto Gambling Glossary

Altcoin

Any cryptocurrency other than Bitcoin. Includes Ethereum, Litecoin, Dogecoin, Solana, Ripple, and Cardano. Altcoins often offer faster transactions and lower fees than Bitcoin. Altcoin casinos guide →

Bitcoin (BTC)

The first and most widely accepted cryptocurrency for gambling. Bitcoin transactions take 10-60 minutes with fees $1-5. Most casinos offer BTC deposits and bonuses. Bitcoin buying guide →

Blockchain

A decentralized digital ledger that records all cryptocurrency transactions. Every transaction is verified by network participants and cannot be altered once confirmed.

Block Time

Time between new blocks added to the blockchain. Bitcoin: 10 minutes, Litecoin: 2.5 minutes, Ethereum: 12-15 seconds. Faster block times = quicker transactions.

Cold Storage

Keeping cryptocurrency offline in hardware wallets (Ledger, Trezor). Private keys never touch the internet, providing maximum security. Best for storing large gambling winnings. Crypto security guide →

Confirmation

Number of blocks added after your transaction. Each confirmation makes reversal harder. Casinos require 1-6 confirmations before crediting deposits. Bitcoin: 10 min per confirmation, Litecoin: 2.5 min.

Crypto Wallet

Software or hardware that stores your private keys and allows you to send and receive cryptocurrency. Types: hot wallets (Exodus, Trust Wallet) for daily use, cold wallets (Ledger) for security. Best wallets guide →

Decentralized

No central authority controls the network. Transactions are verified by a distributed network of computers (nodes) rather than a bank or government.

Dogecoin (DOGE)

Fun, fast altcoin with 1-minute block times and extremely low fees ($0.01-0.05). Popular for small deposits and fast withdrawals. Accepted at many crypto casinos.

Ethereum (ETH)

Second-largest cryptocurrency with smart contract capabilities. ETH transactions take 5-30 minutes with gas fees $2-15. Widely accepted at crypto casinos. Ethereum buying guide →

Gas Fee

Transaction fee paid to miners on Ethereum network. Fees vary by network congestion. High gas = faster confirmation. Range: $2-15 during normal congestion. Withdrawal speed guide →

Hash Rate

Computing power used to mine and secure a blockchain. Higher hash rate = more secure network. Bitcoin has the highest hash rate of any cryptocurrency.

Hardware Wallet

Physical device (Ledger, Trezor) that stores private keys offline. Most secure option for storing large amounts of crypto. Costs $59-$149. Hardware wallet guide →

Hot Wallet

Crypto wallet connected to the internet. Convenient for daily gambling but less secure than cold storage. Examples: Exodus, Trust Wallet, MetaMask.

KYC (Know Your Customer)

Identity verification process required by licensed casinos. Submit ID and proof of address before withdrawals. Bitstarz offers fast automated KYC in 5-30 minutes. KYC verification guide →

Litecoin (LTC)

Fast, low-fee altcoin with 2.5-minute block times. Transaction fees $0.01-0.10. Widely accepted at crypto casinos. Best for fast withdrawals. Litecoin buying guide →

Mempool

Waiting area for unconfirmed transactions. When network is congested, mempool fills up and fees increase. Check mempool.space for current Bitcoin fees.

Mining

Process of verifying transactions and adding them to the blockchain. Miners receive block rewards and transaction fees. Bitcoin uses Proof of Work mining.

Node

Computer that maintains a copy of the blockchain and validates transactions. Full nodes enforce network rules.

Private Key

Secret number that allows you to spend cryptocurrency from your wallet. Never share your private key. If someone has it, they can steal your funds. Your seed phrase generates your private keys.

Proof of Stake (PoS)

Consensus mechanism used by Ethereum (after The Merge) and other blockchains. Validators stake coins to secure network, replacing energy-intensive mining.

Proof of Work (PoW)

Consensus mechanism used by Bitcoin. Miners compete to solve complex math problems. Requires significant energy but offers proven security.

Public Key

Your wallet address that you share to receive cryptocurrency. Derived from your private key but cannot be used to access funds. Safe to share publicly.

Ripple (XRP)

Fast payment-focused cryptocurrency with 3-5 second transactions and fees under $0.01. Limited casino acceptance but growing. Altcoin casinos guide →

Seed Phrase

12-24 words that act as master key to your wallet. Never share it, never store it digitally. Write it on paper and keep it safe. Anyone with your seed phrase can steal all your funds. Security guide →

Smart Contract

Self-executing code on Ethereum and other blockchains. Enables provably fair games, decentralized casinos, and automated payouts without intermediaries.

Solana (SOL)

Ultra-fast blockchain with 400ms block times and near-zero fees. Growing acceptance at newer crypto casinos. Best for speed. Altcoin casinos guide →

Stablecoin

Cryptocurrency pegged to stable asset like US dollar. USDT, USDC, DAI maintain $1 value. Zero volatility while keeping crypto speed. Stablecoin guide →

Tether (USDT)

Most widely accepted stablecoin. Available on multiple networks (ERC-20, TRC-20, SOL). TRC-20 offers fastest transfers (1-5 min) with ~$0.50 fees. Stablecoin guide →

Transaction ID (TXID)

Unique identifier for every crypto transaction. Use TXID to track transfer status on blockchain explorer. Share with casino support if deposit doesn't appear.

USDC (USD Coin)

Fully regulated stablecoin backed by Circle. Transparent reserves with monthly audits. Growing casino acceptance. Available on Ethereum and Solana networks. Stablecoin guide →

Wallet Address

Unique string of letters and numbers where you receive cryptocurrency. Like a bank account number. Always verify address before sending — crypto transactions are irreversible.

🧠 Created by Crypto Experts

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This glossary was created by our team of crypto specialists with over 15 years combined experience in blockchain technology and cryptocurrency gambling.