Bitcoin payment glossary: every term on your payment page
Plain-English definitions of the Bitcoin words you will see when paying: address, satoshi, confirmation, mempool, network fee, quote window and more.
By the Living Water Labs team · Updated 3 October 2026
Terms
- Address — where Bitcoin is sent. Ours start with bc1 and are new for every order.
- BTC / satoshi (sat) — 1 BTC = 100,000,000 sats. Payment pages show both.
- On-chain — a payment recorded directly in Bitcoin blocks. This is what our checkout accepts.
- Lightning — a fast payment layer on top of Bitcoin. Not accepted at checkout yet.
- Mempool — the waiting room for broadcast payments. When your payment reaches it, the page shows "Payment seen".
- Confirmation — your payment included in a block. One confirmation completes your order.
- Network fee — what the sender pays for inclusion in a block; set by your wallet or exchange.
- Quote window — the minutes your Bitcoin amount is held at the quoted price.
- BIP21 / QR code — the standard that packs the address and exact amount into one scannable code.
- Recovery words (seed phrase) — the 12 or 24 words that control a wallet. Never share them.
- Dust — amounts too small to be worth moving; ignored below 1,000 sats.
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