Terms

Crypto Terms — explained simply.

Plain-English explanations for the most important crypto concepts. No hype, no jargon — just clarity.

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Terms starting with “L”

Quick, friendly definitions you can actually use.

Launchpool

An exchange feature where users stake coins (like BNB, USDT) to farm newly launched tokens.

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Layer 1

Base blockchains like Bitcoin, Ethereum, Solana. The foundation layer.

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Layer 2

Scaling solutions built on top of Layer 1 (like Polygon) to make transactions faster and cheaper.

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Leverage

Borrowing money to trade bigger. Increases both risk and reward.

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Limit Order

An order to buy or sell crypto at a specific price you choose.

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Liquidation

When your leveraged position is closed automatically because losses got too big.

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Liquidity Pool

A pool of tokens locked in a smart contract to enable trading on decentralized exchanges.

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Lanzo’s Crypto 4-Step Starter Pack

A beginner-friendly crypto starter pack: buy a little, self-custody, protect your backup, and learn the basics.

Step 1

Buy a small amount of crypto

Open an account and buy a tiny amount (50 €) to learn the flow.

Bybit (Global)Bybit EU

Guide: Create Bybit account

Stick to major coins (BTC/ETH/XRP) at first.
Enable 2FA on your account.

Step 2

Move to a wallet

Own your keys from day one. Use a Ledger for self-custody.

Get Ledger

Guide: Set up Ledger

Write the 24-word recovery phrase on paper during setup.
Never store the phrase in the cloud or as a photo.

Step 3

Protect your recovery phrase & device

Upgrade from paper to a fire/water-resistant metal backup and store the device safely.

Metal seed backup

Guide: Protect your phrase

Keep the metal backup separately from the device.
Consider a simple fireproof envelope or safe.

Step 4

Learn & practice safely

Read Lanzo’s guides and Crypto Terms to avoid common mistakes. Practice with tiny amounts.

Crypto Terms Read the blog

Guide: First transfer

Always test a small withdrawal first.
Double-check addresses and memos/tags.

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