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Crypto Terminology Guide for Financial Advisors

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Crypto Terminology Guide for Financial Advisors

Over the past decade, the popularity of cryptocurrencies has increased dramatically, leading to today’s market of over 20,000 types of cryptocurrencies and hundreds of exchanges to trade them on.

However, crypto is incredibly volatile, creating questions in wealth management about whether it should be included in client portfolios, especially for those tied to fiduciary responsibility. Bitcoin saw prices skyrocket only to crash, while other currencies cracked and disappeared. Still, crypto evangelists point to the many benefits of a decentralized currency, and Bitcoin’s resilience means financial advisors can’t ignore it.

Although many similarities exist with other forms of currency and assets, much like a baseball fan watching a cricket match, it becomes clear that there are significant differences in terminology. We have developed a guide to this terminology, which we will update as new ideas enter the space.

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