What is Cryptoasset?

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A cryptoasset or crypto asset refers to any form of digital asset that does not require a middleman (such as a central bank) to be created or exchanged, instead using blockchain technology. A blockchain is a cryptographic public ledger for recording transactions.

Types of cryptoassets include security tokens, utility tokens, and stable coins. Other budding types in recent times include privacy tokens, non-fungible tokens(NFTs), and decentralized finance (DeFi) tokens.

Utility tokens perform a function on a blockchain network, like Ethereum’s ETH token which is used to perform functions on Ethereum.

A security token represents an investment in a venture — many tokens purchased during ICO fundraisers for new crypto projects are security tokens.

Stable coins are designed to mimic the price of fiat currencies like EUR and USD. They are usually backed by the exact amount of maximum supply in physical cash.

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