GLOSSARY
REMITTANCES

Remittances

Remittances are simply the act of sending money from one party to another. An example of a remittance is sending money to family members. Other examples are making a payment or settling an invoice.

Key Takeaway

A remittance is any form of payment transferred to another party — from sending money to family members, making a payment, or settling an invoice.

Related Words

Unspent Transaction Output (UTXO)

Unspent transaction output (UTXO) represents the remaining balance of digital currency following a cryptocurrency transaction.

Non-Fungible Token (NFT)

A non-fungible token (NFT) is a unique, irreplaceable asset that lives on a blockchain.

Impossible Trinity

The Impossible Trinity states that blockchains can only simultaneously achieve two out of either decentralisation, scalability, or security — but never all three.

Exchange

A cryptocurrency exchange, also known as a digital currency exchange, is a platform that facilitates the trading of cryptocurrencies.

Wallet

A cryptocurrency wallet is a software programme or device that stores a user’s public and private keys.

RSA

RSA (short for Rivest–Shamir–Adleman) is one of the widely used public-key encryption algorithms for secure data transmission and is used to securely transmit messages over the internet.

Advanced Encryption Standard (AES)

Advanced Encryption Standard (AES) is a widely used encryption algorithm established by the US National Institute of Standards and Technology (NIST) in 2001 and designed to secure sensitive data.

Relative Strength Index (RSI)

The Relative Strength Index (RSI) is a popular momentum indicator used in technical analysis to measure the speed and change of recent price movements in a cryptocurrency.

Hal Finney

Hal Finney was a pioneering figure in the world of cryptocurrency and is considered one of the most important early contributors to Bitcoin. His work has had a lasting impact on the development and adoption of cryptocurrencies.

Stochastic Oscillator

The stochastic oscillator is a momentum indicator used in technical analysis of securities trading.