The different types of digital assets: managing your digital assets

To date, more than 20 million American adults own digital assets. Without a doubt, more and more people are including cryptocurrencies and other types of digital assets in their wallets. Experts believe this trend will continue to gain momentum in the following years, as it is accessible to most people.

Do you own digital assets? If so, you’ll want to stick around, as we’ll give you top-notch investment strategy advice that will help you manage your assets.

Crypto-currencies

The first digital asset we’ll be discussing today is cryptocurrency. Nowadays, there are hundreds of different cryptocurrencies on the market, each with its own unique value. Here are some of the most successful crypto coins:

  • BTC (Bitcoin)
  • ETH (Ethereum)
  • ADA (Cardano)
  • XLM (Stellar Lumens)

So how do you manage these cryptocurrencies? Fortunately, managing these digital assets is pretty easy if you have the right tools. The best tool to use is a crypto exchange or crypto banking services like Coinbase or Robinhood.

With these exchange services, you will be able to see all of your digital assets and decide whether you want to buy more or turn them into cash. If you choose to sell them, you can find a nearby Bitcoin ATM to get the best selling rates. For more information on these ATMs and other crypto-related aids, visit Byte Federal.

Utility tokens

People buy utility tokens to help fund start-ups, businesses, or projects. You can compare these digital assets to digital coupons, because once the start-up or project goes live, you will have exclusive access to their services. Here are some examples of utility tokens:

  • BAT (Basic Attention Token)
  • GNT (Golem)
  • FUN (Fun fair

Usually, you can manage your utility tokens using the company’s website. However, some cryptocurrency exchange services offer utility tokens, making them easier to manage. Keep in mind that utility tokens can be risky as there is always a risk that the project will be shut down.

Digitized payments

Businesses and even some countries are slowly moving from banks to other forms of storing your money. For example, China allows people to transfer their funds to WeChat or Alipay QR readers, of non-bank institutions. Here are some popular digital currencies:

  • LTC (Litecoin)
  • BCH (Bitcoin Cash)
  • USDT (tie)

For now, there are only a few ways to manage these digitized assets, i.e. by using apps like Celcius and Kraken. Fortunately, creating accounts on these platforms is pretty quick and easy.

What types of digital assets do you own?

You are now able to manage all types of digital assets. But, of course, don’t overextend yourself as having too many digital assets can be quite overwhelming. And don’t forget to keep this article in your favorites in case you need to refer to it in the future!

If you have found this article useful for managing your assets, take a look at our other financial articles! There you will find all kinds of interesting and useful tips!

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