Common Cryptocurrency Terms Used on TCEX Exchange (Crypto Glossary)
Vietnam crypto exchange TCEX Commonly used terms in cryptocurrency trading.
1. Custody:
Custody is the process of receiving, storing, and transferring crypto assets to clients, helping clients exercise their rights related to the deposited crypto assets.
According to Resolution 05/2025/NQ-CP, domestic investors holding open securities and foreign investors are allowed to open accounts at licensed service providers to deposit, buy, and sell open securities in Vietnam.
Six months after the first service provider is licensed, domestic investors who conduct TSMH transactions without going through a licensed service provider will be subject to administrative penalties or criminal prosecution depending on the nature and severity of the violation, as prescribed by law.
2. Wallet (Wallet)
A wallet is a tool for storing TSMH (Treasury Assets) using a private key and public key management mechanism, allowing users to manage, send, receive, and transact TSMH on the blockchain.
There are two types of encrypted wallets:Hot walletandCold wallet
What is a hot wallet?
A hot wallet is a type of wallet that connects directly to the internet, used to store private keys and cryptocurrency assets online. Hot wallets are designed to facilitate daily transactions and quick, convenient money transfers.
What is a cold wallet?
A cold wallet is a type of wallet that is not connected to the internet, storing private keys offline. It is usually a hardware or paper wallet. Cold wallets are very secure and suitable for long-term storage of large amounts of cryptocurrency, minimizing the risk of loss due to cyberattacks.
At TCEX , we provide customers with unique, identifiable wallet addresses for depositing cryptocurrency assets. When customers deposit funds into these wallet addresses, TCEX manages those assets using a master wallet model, strictly controlled by a secure private key management mechanism according to institutional standards. This master wallet contains the total cryptocurrency assets of all investors. Master wallets are divided into two types:
· Hot wallet: stores a portion of an investor’s assets for daily transactions, making trading quick and convenient.
· Cold wallet: stores the majority of remaining assets, keeping them offline to ensure maximum security against cyberattack risks.
Importantly, the assets in investors’ hot wallets are managed separately from the hot wallets containing the exchange’s proprietary trading assets, strictly adhering to legal regulations to protect customer rights.
3. Public Key
· A public key is a long piece of code generated from a private key using an encryption algorithm.
· Used to authenticate transactions when you sign with your Private Key.
· Public keys are often not shared for receiving funds due to their length. Using the public key, the system will generate a wallet address – a shortened code used for more convenient fund transfers.
4. Private Key
· A private key is the unique “password” that gives you control over your digital assets.
· It must be kept absolutely secret; don’t share it with anyone.
· The owner of the Private Key can withdraw or transfer funds from your wallet.
5. Public-Private Relationshipand
Private key → Public key → Wallet address
The system uses a private key to generate a public key, which in turn creates a wallet address. When making a transaction, you use your private key to sign the transaction (and verify it with your public key). To receive funds, you need to share your wallet address with the sender.
Note: Always keep your private key secure to minimize the risk of losing your assets.
6. Know Your Customer (KYC)
KYC is a customer identification process in which customers provide personal information such as their full name, citizen identification number, etc., to be allowed to open an account and legally trade on the TCEX exchange.
7. KYT (Know Your Transaction)
KYT is a transaction verification process in which the TCEX exchange monitors and analyzes transaction history on the blockchain to check the “cleanliness” of crypto assets and funds before those assets enter or leave the wallet/exchange, helping to prevent fraud and money laundering.