What is a Cryptoasset?
Cryptoasset is a digital asset based on cryptographic techniques for creating a cryptographical representation of value. As a result of its characteristic, crypto assets are not subject to centralized governance. The digital asset can be used as a medium of exchange or in financial transactions, and it cannot be found in physical form as it exists only in its digital form on the blockchain.
Digital assets are also popular as investment assets among investors and traders. Examples of popular crypto-assets, also referred to as a cryptocurrency, are well-known Bitcoin, Ripple, Ethereum, Litecoin, etc.