Definition
The practice of holding your own Bitcoin private keys rather than trusting a third party. Summarized by the phrase "not your keys, not your coins."
Related Terms
Seed Phrase
A set of 12 or 24 words that serves as a master backup for a Bitcoin wallet. Can be used to recover your wallet if your device is lost or damaged. Must be stored securely offline.
UTXO
Unspent Transaction Output. The way Bitcoin tracks ownership. Each UTXO represents a specific amount of Bitcoin that can be spent in a future transaction.
Satoshi Nakamoto
The pseudonymous creator of Bitcoin who published the Bitcoin whitepaper in 2008 and launched the network in 2009. Their true identity remains unknown.
Wallet
Software or hardware that stores your Bitcoin private keys and allows you to send and receive Bitcoin. Wallets don't store Bitcoin itself—they store the keys to access it.
Satoshi (sat)
The smallest unit of Bitcoin, equal to 0.00000001 BTC. Named after Bitcoin's creator, Satoshi Nakamoto. "Stacking sats" means accumulating small amounts of Bitcoin.