A
Address
B
Bitcoin / bitcoin (BTC)
Banexcoin Account
C
Confirmation
Cold Storage
Cryptocurrency
Cryptography
E
Exchange
F
Fork
Fiat Currency
H
Hot Wallet
O
Order
(Market, Limit, StopMarket, StopLimit, TrailingStopMarket, TrailingStopMarket, TrailingStopLimit, Block Trade)
OTC
P
Platform
Principal
Price per Currency
Public Key and Private Key
T
Transaction
Transaction Price
W
Wallet
Bitcoin / Bitcoin (BTC):
Bitcoin is generally used to refer to the network or protocol, and bitcoin (lowercase) to refer to monetary units. Bitcoin is characterized by being decentralized, it is not backed by any government or central bank, it is based on blockchain technology and its open source community.
Public key and Private key
In a simple way we can exemplify the public key as if it were the number of a bank account and in the private key as if it were the secret PIN. The public key is used to receive cryptocurrencies, and the private key is used to sign transactions or to spend those cryptocurrencies. A private key and a public key are mathematically related, in fact, the public key derives from the private key.
Client
Any person or entity with an account registered with Banexcoin. They are the persons or entities that have completed the registration and identification procedure in accordance with the requirements established for the verification levels of the Platform, as appropriate in accordance with their profile and make use of the services provided by it. Clients (natural persons) must have an identification document, be at least 18 years of age and be civilly capable to carry out exchange operations, deposits, withdrawals, etc. within the Platform.
Cold storage
You can keep cryptocurrencies in a hot wallet, there is also the possibility of keeping the cryptocurrency's private key in paper support or with specific hardware (such as Trezor or Ledger Nano), which will allow you to be more secure at the time of protect them.
Confirmation
It occurs when a blockchain transaction has already been processed by the network. Blockchain transactions receive confirmations once they have been included in a block, which in turn has already been connected to the next block in the chain. Thus ensuring the immutability of the transaction.
Cryptography
Encryption or coding techniques aimed at altering the linguistic representations of certain messages in order to make them unintelligible to unauthorized recipients. One of recurring cryptographic algorithms when studying the Bitcoin protocol is SHA-256.
Cryptocurrency
A cryptocurrency (also called Cryptoactive or Digital Asset) is a digital medium of exchange that uses cryptography to secure financial transactions, control the creation of additional units and verify the transfer of assets, have no legal course, are not issued, nor are found Guaranteed by any country or jurisdiction. To date, the BTC, as well as the other cryptocurrencies have not been recognized as currencies by various central banks / governments; they represent a high volatility asset whose fluctuations exceed those usual in traditional financial assets. Some examples of Cryptocurrencies are: Bitcoin (BTC), litecoin (LTC), ether (ETH).
Banexcoin account
The Banexcoin Account enables its holder to enter the Platform and through his virtual wallet (s) associated (s), which (s) will be enabled later, You can make transactions in it, keep balances in cryptocurrencies and other currencies, as well as make deposits and / or withdrawals in the aforementioned purse.
Address
In the world of cryptocurrencies it refers to the chain of numbers and letters that are normally produced from public and private keys and that we could define as the fingerprint of those keys. The address is a smaller version of the public key. The private key is the one that gives access to the cryptocurrency registered in the public and must, therefore, be kept secret. The public address is the “account” that we can share with the rest of the network to be sent to us by cryptocurrencies and it is the public address of another User that we use to indicate in a transaction the recipient of the funds we send.
Exchange
It is a site that allows operating between different crypto assets and real currency (fiat). Exchanges are financial markets that allow under the principles of the free supply and demand of their customers to give economic value to crypto assets that are managed or authorized within these sites. They can be simple intermediaries between common or institutional clients, as well as provide more complex trading features.
Fork
Situation in which a block chain is divided into two chains separated temporarily or permanently. It occurs when the source code of a project is taken and a new project is created from it with a new address. A hard fork occurs when a blockchain is divided into two incompatible separate chains, this is a consequence of the use of two sets of incompatible rules that attempt to govern the system. A soft fork is a change of rules that creates blocks recognized as valid by the previous software, that is, it is compatible with previous versions.
Hot wallet
Portfolio that is always connected to the blockchain. Stored currencies can be quickly exchanged with other members of the network or used for trading.
Principal
The Client who requests the purchase or sale of any currency or cryptocurrency to the Platform, by means of a mandate document and agrees with these Terms.
Fiat Currency
Legal money. Only central banks have the power to issue fiat money, but commercial banks can create it through loans. The Dollar, Euro and the Peruvian Sun are fiat currencies.
Wallet
Software that stores the private keys that are needed to access the cryptocurrencies registered at an address or public key. There are several types of purses depending on the way the private key is stored. Some use the Exchanges as online purses and others use physical purses (Trezor, Ledger Nano, paper), the latter being the safest. In any of its forms, if the private key is lost, the money is lost.
Order
It refers to the form or type of instruction in which the exchange operation in Banexcoin will be executed, the following types of orders are handled:
Market: Applies only to market, purchase or sale orders at the best available price.
Limit: applies to limit orders, buy or sell a set amount at a specific price or better (there is often a time limit).
StopMarket: Applies to purchase or sale orders only when an instrument reaches a set price. At the established price, the order becomes a market order.
StopLimit: applies to purchase or sale orders only when an instrument reaches a set price. At the established price, the order becomes a limited order to buy or sell at the limit price or better.
TrailingStopMarket: Applies to orders that establish the stop price of an instrument at a price with a fixed compensation in relation to the market price. If the market moves and the stop price is reached, the order becomes a market order.
TrailingStopLimit: Applies to orders that recalculate the detention price of an instrument in a fixed displacement in relation to the market price. The limit price is recalculated based on a different fixed compensation. If the market reaches the stop price, the order becomes a limit order.
Block Trade: an operation executed in private at a negotiated price.
OTC
By its acronym in Over-The-Counter, it refers to an operation that is not performed in a formal bag. Instead, most OTC operations are carried out between two parties, and are often carried out through a formal market. OTC trading is less regulated than stock trades, which creates a series of opportunities, as well as some risks that its participants must be aware of.
Platform
It refers to the technical, functional and organizational structure managed by Banexcoin S.A. which allows Clients to make purchases and sales of cryptocurrencies and fiat currencies managed in the Exchange through a mandate granted to Banexcoin, as well as transfers to third parties and the making of collections and payments.
oTransaction Price
The total price to be paid or received by the Client for each transaction made on the Platform.
Price Currency
It is the 'Price Per Currency' displayed at all times by the Platform for 1 (one) BTC or those cryptocurrencies authorized by the Platform and that reflects the amount for which a unit of them can be acquired or sold at the time of making any transaction. The Price Per Currency is expressed in the currencies supported by the Platform.
Token
Unit of value Digital asset housed in a blockchain that allows its owner to attribute it to a third party through the blockchain. It allows in its configuration several layers of value, which makes it a kind of digital trunk in which, according to its programming, one or several rights can be included.
Transaction
It is the operation of buying or selling BTCs or any other cryptocurrency authorized by Banexcoin and carried out through the Platform in compliance with the mandate granted by a Client, in the currencies supported on the Platform and at the price indicated at the time it is agreed the Transaction ("Transaction Price"). Also included is the transfer of cryptocurrencies from the Client's account for the acquisition of goods or services.