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The card network's undo button. The issuer claws a payment back from the merchant on your behalf, sometimes months later. On-chain payments have no equivalent.
The same word and the same process. It is the main consumer protection cards have that raw blockchain transfers do not.
Assets locked to secure a loan. Crypto lending is usually overcollateralised, meaning you post more than you borrow, because the lender knows nothing about you.
The house behind a mortgage, or the securities behind a margin loan.
A transaction being included in a block and buried under further blocks. More confirmations, more certainty. Most stablecoin transfers are settled enough to act on within a minute.
Clearing versus settlement. The payment shows up, then later it becomes irrevocable.
How thousands of independent computers agree on one version of the truth without a referee. Proof of stake, the current standard, gives the vote to those with money at risk.
Interbank clearing, where the arbitration is algorithmic and takes seconds instead of institutional and taking days.
Paying by holding the card or phone near the terminal instead of inserting it. The chip signs the transaction the same way, just over a radio.
The risk that whoever is holding your money cannot give it back. It does not disappear in crypto, it just moves from a bank to an exchange, an issuer or a protocol.
Exactly the same phrase, and exactly the same idea. It is why deposit insurance was invented.
A wallet where a company holds the keys for you. You log in with an email and password, and the company can help you get back in. It can also freeze you out.
A normal bank account. The bank holds the money and the bank decides.
All 8 terms shown.