Crypto Card Glossary: 50+ Crypto Payment Terms Explained

How to use this crypto card glossary

Terms are grouped alphabetically, with numbers first. Card terms (how payments work) and crypto terms (how money moves on a blockchain) are mixed together, because you need both to fund and use a crypto card. Where a term has its own guide, the definition links to it. Product-specific details refer to USDT Crypto Card and may differ at other providers.

0–9 and A

3D Secure (3DS)

An extra verification step some online checkouts trigger, where the cardholder confirms the payment with a one-time code. On USDT Crypto Card, 3D Secure codes are sent to your confirmed email.

Address

A string of characters that identifies where crypto can be sent on a given blockchain. Addresses are network-specific: an Ethereum address and a Tron address look different and aren't interchangeable.

AML (anti-money laundering)

Laws and controls designed to stop money from crime entering the financial system. They apply to how you use money regardless of how an account was opened.

API key

A secret token that lets software act on your account. USDT Crypto Card keys start with sk_live_ and should only ever live on a server. See the virtual card API guide.

Apple Pay and Google Pay

Mobile wallets that store a card on your phone so you can pay by tapping. See adding a crypto card to Apple Pay and Google Pay.

Arbitrum (ARB)

A layer-2 network built on Ethereum that usually has much lower fees than Ethereum itself. ARB is also the name of its token.

Authorization

The merchant's request asking the card issuer to approve a payment. An approved authorization reserves the funds; the final charge comes at settlement.

Authorization hold

Funds temporarily reserved on a card after an authorization, before the charge settles or is released. Hotels, car rentals and card checks commonly use them.

B–C

Backup codes

One-time codes you can use to log in if you lose access to your authenticator app. Store them offline, separately from your seed phrase.

BEP-20

The token standard on BNB Smart Chain. USDT Crypto Card accepts BNB on the BEP-20 network.

BIN (bank identification number)

The first six to eight digits of a card number, identifying the card program and issuer. Merchants use it in approval decisions. Read what a BIN number is.

Block explorer

A website that shows blockchain transactions and addresses publicly. Paste a transaction ID to see whether a transfer is confirmed.

Blockchain

A shared, append-only ledger maintained by a network of computers. Bitcoin, Ethereum, Solana and Tron are separate blockchains.

Card network

The payment system that connects merchants and card issuers, such as Visa or Mastercard. It sets the rules for how card payments are processed.

Cardholder name

The name associated with a card. On USDT Crypto Card the default cardholder name is "Anonymous".

Chargeback

A disputed card payment reversed through the card network. Chargebacks follow network rules and are not guaranteed; abusing them is fraud.

Confirmation

A block added on top of the one containing your transaction. Deposits are credited after a set number of confirmations, which takes longer on some chains than others.

CVV

The three-digit security code on a card, used to prove you have the card details in card-not-present payments. Never share it outside a checkout.

D–F

Decline

A payment the issuer or merchant refuses, for reasons such as low balance, limits or risk checks. On USDT Crypto Card, declined transactions are free.

Depeg

When a stablecoin trades meaningfully away from its target value, such as $1. Short depegs have happened during market stress.

Deposit address

The address a provider gives you to receive your crypto. On USDT Crypto Card each deposit request shows the address and network and expires after 1 hour.

Deposit fee

A fee charged when crypto is credited to your account. On USDT Crypto Card it's 2% on deposits under $300 and 0% from $300. See crypto card fees explained.

ERC-20

The standard for tokens on Ethereum. USDT Crypto Card accepts USDT only as an ERC-20 token, and holds every balance as USDT (ERC-20). Compare networks in USDT ERC-20 vs TRC-20.

Exchange

A platform where you buy, sell and hold crypto, then withdraw it to other addresses. See how to fund a crypto card from an exchange.

Expiry date

The month and year after which a card stops working. It's required, with the number and CVV, for most online payments.

Freeze

Temporarily blocking a card so new payments decline, while its balance stays put. On USDT Crypto Card you can freeze and unfreeze cards from the dashboard.

G–L

Gas

The fee paid to process a transaction on Ethereum and similar chains, paid in the chain's native coin. It rises when the network is busy.

Issuance fee

The fee to create a card. On USDT Crypto Card it's $1 per card, with no monthly fee.

Issuer

The financial institution or program behind a card, responsible for approving or declining its payments.

KYC (know your customer)

Identity checks such as uploading an ID, a selfie or proof of address. A no-KYC card is opened without those documents; see what a no-KYC virtual card is.

Layer 2

A network that processes transactions off a main chain and settles them back to it, cutting fees. Arbitrum is a layer 2 on Ethereum.

Limits

Caps on how much a card or plan can spend. USDT Crypto Card's Virtual plan allows $5,000 per transaction and $20,000 per month; Platinum has no spending limits.

M–P

MCC (merchant category code)

A four-digit code that classifies a merchant's business, such as software or advertising. Issuers and card rules can use MCCs to allow or block payments.

Merchant

The business you're paying. Each merchant sets its own rules on which cards it accepts.

Minimum load

The smallest amount you can put on a new card. On USDT Crypto Card it's $50; later top-ups have a $10 minimum.

Network fee

The fee a blockchain charges to process a transfer, paid to validators or miners, not to the card provider. Compare networks in the cheapest network to send USDT.

PAN (primary account number)

The full card number, usually 16 digits. It starts with the BIN.

Phishing

Tricking someone into revealing secrets or sending money through a fake site, email or message. Read how to spot crypto card scams.

Platinum

USDT Crypto Card's higher plan, unlocked by a single deposit of $300 or more. It removes spending limits and adds a physical card option and priority support.

Prepaid card

A card that spends money loaded onto it in advance, rather than borrowed credit. Crypto cards are typically prepaid.

Private key

The secret that controls a crypto wallet. Whoever holds it controls the funds.

R–S

Refund

Money a merchant sends back after a purchase, which returns to the card. Timing depends on the merchant and network.

Seed phrase

In crypto wallets, a list of words that can restore a wallet's private keys. On USDT Crypto Card, your seed is your account login in the format xxxx-xxxx-xxxx-xxxx; see seed phrase and 2FA security.

Self-custody wallet

A wallet where you hold the keys yourself, rather than an exchange holding them for you.

Settlement

The final step of a card payment, when the authorized amount is actually charged. It can differ slightly from the authorization, for example after currency conversion.

Spread

The difference between the buy and sell price of an asset. It's a hidden cost of converting one coin to another.

Stablecoin

A crypto token designed to hold a stable value, usually $1. USDT and USDC are the best known; see USDT vs USDC.

T–Z

Top-up

Adding money to an account or card. On USDT Crypto Card, topping up a card from your balance is free.

Transaction ID (TxID)

A unique identifier for a blockchain transaction, also called a hash. Use it to track a transfer and when contacting support.

TRC-20

The token standard on the Tron blockchain. USDT exists on TRC-20, but USDT Crypto Card accepts USDT only on ERC-20.

Two-factor authentication (2FA)

A second login step, usually a code from an authenticator app. It's optional on USDT Crypto Card and strongly recommended.

USDC

A dollar stablecoin issued by Circle. It isn't a supported deposit asset on USDT Crypto Card; convert it first.

USDT

A dollar stablecoin issued by Tether, also called Tether. Your USDT Crypto Card balance is held in USDT, 1:1 with the US dollar. See how to spend USDT.

Virtual card

A card that exists only as digital details, used online or in a mobile wallet. Compare it in virtual vs physical crypto card.

Webhook

An HTTP message a service sends to your server when an event happens. USDT Crypto Card signs webhooks with HMAC-SHA256.

For anything else, check the FAQ or create an account to see these terms in the dashboard.

Frequently asked questions

What does BIN mean on a crypto card?

BIN stands for bank identification number, the first digits of the card number. It identifies the card program, and merchants use it when deciding whether to approve a payment.

What is the difference between ERC-20 and TRC-20?

They're token standards on different blockchains: ERC-20 on Ethereum, TRC-20 on Tron. The same token, such as USDT, exists on both, but you must send on the network the recipient supports.

What is an authorization hold?

A temporary reservation of funds on your card after a merchant's authorization, before the final charge settles or the hold is released.

Is a seed phrase the same as a password?

It works like one, but it can't be reset. On USDT Crypto Card, the seed is your account login, so anyone with it can access your account. Store it offline.

What is 3D Secure on a crypto card?

An extra checkout verification step using a one-time code. On USDT Crypto Card the codes are sent to your confirmed email.