The Different Types of Digital Assets: Managing Your Digital Wealth

As of today, over 20 million American adults own digital assets. Without a doubt, more people are including cryptocurrencies and other types of digital assets in their portfolios. Experts believe that this trend will continue to gain momentum for the following years since it’s accessible to most people.

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

Cryptocurrencies

The first digital asset we’ll discuss today is cryptocurrency. Nowadays, there are hundreds of different cryptocurrencies in 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 can you manage these cryptocurrencies? Fortunately, managing these digital assets is quite 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’ll be able to see all of your digital assets and decide if 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 sell rates. For more information about these ATMs and other crypto-related help, visit Byte Federal.

Utility Tokens

People purchase utility tokens to help finance start-ups, companies, or projects. You can compare these digital assets to digital coupons since once the start-up or project goes live, you’ll receive exclusive access to their services. Here are some examples of utility tokens:

  • BAT (Basic Attention Token)
  • GNT (Golem)
  • FUN (Funfair

Usually, you can manage your utility tokens using the company’s website. Although, some cryptocurrency exchange services offer some utility tokens, which makes managing them a lot easier. Keep in mind that utility tokens can be risky since there is always the chance that the project gets shut down.

Digitized Payments

Companies 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, non-banking institutions. Here are some popular digitized currencies:

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

As of now, there are only a few ways to manage these digitized assets, which is by using apps like Celcius and Kraken. Fortunately, creating accounts on these platforms is quite easy and quick.

Which Types of Digital Assets Do You Have?

By now, you are now capable of managing all of the types of digital assets. But, of course, don’t over-extend yourself, as having too many digital assets can be quite overwhelming. And, don’t forget to keep this post bookmarked in case you need to refer to it in the future!

If you found this post helpful for managing your assets, take a look at more of our financial articles! You’ll find all kinds of interesting and helpful advice!

 

Leave a Reply

Your email address will not be published. Required fields are marked *