So many times I come across terms that are misused. In The field of cryptocurrency and blockchain we find a lot of mix up in terminologies. I am usually not worried about these mix ups, as long as I get the sense. However, I am obliged to highlight some issues and concepts whenever I have time. By doing that I also learn a lot. One term that is often misused is crypto asset and cryptocurrency. In some cases, these two are used interchangeably. Today, I want to highlight the differences by looking at the range of crypto assets or digital assets. I will start by looking at what an asset is.
An asset is popularly defined as a resource that has value to an individual or an organisation. There are various types of assets. Some of the assets are tangible yet some are intangible. Some examples of intangible assets are goodwill and patents. Our focus today is on crypto assets. These are defined as types of templates that are used in various situations, within some criteria. These digital assets are classified in many ways such as cryptocurrency, utility tokens and cryptocollectibles among others. We will explain these in simple terms so that many people understand them.
Types of Digital Assets
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