Glossary
Crypto giving, in plain English
New to cryptocurrency? Here are the terms you'll come across when donating — explained simply, without the jargon.
- Blockchain
- A public, shared ledger that permanently records transactions. Because anyone can read it, a donation made on a blockchain can be independently verified.
- Cryptocurrency
- Digital money that runs on a blockchain rather than through banks. Examples include Bitcoin, Ethereum, and stablecoins like USDC.
- Wallet
- An app or device that lets you hold, send, and receive cryptocurrency. It stores the keys that prove your coins are yours.
- Private key
- The secret code that controls a wallet and authorizes spending. Never share it — no legitimate charity will ever ask for it.
- Address
- A public string of characters that funds are sent to, like an account number for a wallet. You send a donation to the charity’s address.
- Transaction ID
- A unique code (also called a hash or txid) identifying a specific transaction on the blockchain. It is your verifiable receipt for a donation.
- Block explorer
- A free website that lets anyone look up a transaction on a blockchain. Paste a transaction ID to confirm a donation arrived.
- On-chain
- Something recorded directly on the blockchain. An on-chain donation is publicly verifiable, unlike a private bank transfer.
- Confirmation
- The network’s verification of a transaction. More confirmations mean a payment is more settled and irreversible.
- Network fee
- A small fee paid to the blockchain network to process a transaction. It is usually far less than the 2–5% that cards and banks take.
- Gas fee
- The name for the network fee on Ethereum and similar chains. It rises and falls with how busy the network is.
- Stablecoin
- A cryptocurrency pegged to a stable value, usually the US dollar. $50 of USDC stays $50, so there is no price volatility for your gift.
- Volatility
- How much a cryptocurrency’s price moves. Charities often convert volatile assets quickly, and stablecoins avoid volatility entirely.
- Custodial wallet
- A wallet where a company (like an exchange) holds your keys for you. The easiest way for beginners to start, since the provider manages security.
- Self-custody
- Holding your own keys in a wallet you control, rather than trusting a company. Gives you full control and full responsibility.
- NOWPayments
- The regulated crypto payment processor that powers TraceGood’s secure checkout, so the charity never handles your wallet keys.
Ready to give it a try?
Donating crypto is simpler than the vocabulary suggests — about two minutes.