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The essentials, in plain English

Crypto makes more sense when you know the mechanics.

Phillips Orbit Group explains the terms and systems behind our coverage. Start with custody, then follow a transaction from wallet to network settlement.

  1. Custody and Wallet Basics

    A wallet manages the keys that authorize activity on a blockchain. Decide who holds those keys before moving assets.

    Exchange custody

    An exchange holds the keys while you use its account system. That can be convenient, but access depends on the provider and your account security.

    Self-custody

    You control the signing keys. Keep a seed phrase offline, protect hardware devices from tampering, and make a recovery plan before funds are at stake.

    Check every approval

    Phishing sites can request token approvals, while address-swapping malware can alter a copied destination. Verify the site, permissions, and full address.

    Keep control deliberate. A lost recovery phrase may leave no practical way to restore a self-custody wallet.

  2. How Networks Settle Transactions

    A transaction is broadcast, checked by a network, and included in a block. Validators or miners help order and confirm activity; congestion can raise fees and extend wait times.

    Network How activity is handled What affects fees and timing
    Bitcoin Transactions are recorded in blocks secured by proof-of-work mining. Fee bids rise when block space is in greater demand; confirmation time varies with block production.
    Ethereum Validators propose and attest to blocks on the proof-of-stake network. Gas prices move with demand. Busy periods can make a transaction cost more.
    Arbitrum A layer-2 network batches activity and posts data back to Ethereum. Transaction costs reflect layer-2 activity and the cost of posting data to its base network.
    Solana Validators process transactions on a high-throughput proof-of-stake network. Network demand and transaction priority can affect processing and fees.

    Fees and confirmation times change with network conditions. Check current network details before sending.

  3. Plain-English Glossary

    These terms show up often in market coverage. Examples describe how each one is used.

    Staking
    Committing eligible tokens to help a proof-of-stake network operate; a report may compare the stated yield with lock-up and protocol risks.
    Slippage
    The difference between an expected trade price and its execution price; a large order in a thin market may move the final price.
    Market depth
    The amount of buy and sell interest near current prices; thin depth can make a trade shift the price more sharply.
    Halving
    A scheduled reduction in Bitcoin's block subsidy; coverage may track how issuance changes without assuming a particular price outcome.
    Max supply
    The upper limit built into an asset's issuance rules; a supply note may compare that limit with tokens already in circulation.
    Total value locked (TVL)
    The value of assets deposited in a protocol; an analysis may compare TVL changes with user activity and token prices.

    See how we use these terms in crypto news and market analysis.

  4. A Six-Step Learning Path

    Use this order to build context before weighing a market claim. Start with the basics.

    1. 1Learn wallet custodyKnow who controls the keys and how recovery works.
    2. 2Follow a transactionCheck the destination, network, fee, and confirmation status.
    3. 3Read the glossaryUse the definitions above when unfamiliar terms appear.
    4. 4Compare network activitySeparate fees, throughput, and settlement design.
    5. 5Read a market reportLook for its timeframe, data source, and stated uncertainty.
    6. 6Review investment guidanceConsider risk, time horizon, and position size before acting.

    Move next to the news desk for reported context, then compare it with market analysis.

  5. Read On-Chain Data Carefully

    A dashboard shows network activity, not the whole story. Check what the metric counts and how its time window is defined.

    Check the definition

    Daily active addresses may count addresses rather than distinct people. Treat the metric as a signal with limits.

    Match the time period

    Compare like-for-like windows and note whether a chart shows a daily total, a rolling average, or a longer trend.

    Find a second source

    Read the data provider's methodology and compare its measure with reported news and market context.

    Good analysis states its limits. See our market analysis for context around the data.

  6. Size Positions for Uncertainty

    A clear thesis still carries risk. Decide what loss you can tolerate before choosing a position size.

    Size for uncertainty. Set a time horizon, review how much of your portfolio is exposed, and check the assumptions behind your decision.

    Read investment guidance

    Educational information is not individualized financial advice. Cryptocurrency investments can lose value.

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