skip to Main Content
CipherTrace is hiring! See our current job openings.

Know Your Customer (KYC)

The know your customer or know your client (KYC) guidelines in financial services requires that professionals make an effort to verify the identity, suitability, and risks involved with maintaining a business relationship. The term can also refer to the bank…

Read more

Know Your Transaction (KYT)

Know Your Transaction or KYT is a commonly used financial industry term that refers to the process of examining financial transactions for fraudulent or suspicious activities including money laundering.
Read more

Layer One Crypto List

A layer 1 blockchain is a base network, that s can validate and finalize transactions without the need for another network. Bitcoin, Ethereum, BNB Chain (Binance), are some examples of layer 1 blockchains.

Read more

Mainnet

The term is used to identify a realnet/mainet blockchain from a testnet network, which only exists for experimenting, testing and educational purposes.  In the Bitcoin network, both the mainet and testnet are identical, however, the two networks are not compatible with…

Read more

Mixers, Tumblers, Foggers

Mixing Service: Mixer, Tumbler, Fogger: A cryptocurrency tumbler or cryptocurrency mixing service is a service offered to mix potentially identifiable or ‘tainted’ cryptocurrency funds with others, with the intention of confusing the trail back to the fund’s original source. Tumblers…

Read more

Money Service Business (MSB)

In 2011, FinCEN issued a final rule that defined a money services business (MSB) as the following: a person doing business, whether or not on a regular basis or as an organized or licensed business; the business is wholly or…

Read more

Multi-Input

Multi-input is a way of associating multiple addresses with a single individual or entity. This can help to group addresses into what is often called a “wallet address”. The way this works is that if many bitcoin addresses are used…

Read more

NFT

NFT stands for Non-Fungible Token. Contrary to a BTC which is fungible (one BTC is the same with another BTC), Non-Fungible Tokens have unique properties and cannot be duplicated.  NFTs can easily be transferred from one digital wallet to another. 

Read more

Node

A node, in the world of digital currency, is a computer that connects to a cryptocurrency network. The node or computer supports the network. It supports it through validation and relaying transactions. At the same time, it also gets a…

Read more

Non-custodial Wallets

In a non-custodial wallets the private key is held by the owner of the wallet.  Whoever holds the private key, also has control of the funds in the wallet, but is also responsible for not losing it, since this will usually…

Read more
Back To Top