What are assets?
According to Rober Greer’s 《What is an Asset Class, Anyway》, there are three types of assets:
- Capital assets
- Consumable/transformable assets
- Store of value assets
How about cryptoassets?
Cryptoassets from its name we know its digital assets with cryptographic technology, such as bitcoin, Ethereum, and so or. It has shown enormous potential of the future. So what are the exact features of cryptoassets from traditional assets?
Just one most important difference between physic assets and crypto assets that you are free to take your assets everywhere with your private key, and you are free to use it any time. While you keep assets in banks, you need many days to withdraw them, according to different regulations and rules. Or maybe even you can not withdraw them.
It’s all about the freedom of ownership, that let your assets owned by you, no one else.
No need to switch to different currencies for usage in different countries
A typical example, when you work in China but need to transfer money to your America account, the fee will be at least 1% of the total, and there is a foreign exchange ceiling, then it takes days to arrive in your terminal account. It forces people searching for a better way to transfer money, for example, “buying” things from your friend’s store on eBay, which still is charged by eBay because of its service.
While cryptocurrency is not needed to switch from each other since vendors receive them. These cryptocurrencies with payment value assets are kind of gold that can be accepted widely. They can be valued in many currencies in different countries as a nice medium of exchange, which will finally address as low transaction fees.
Anonymous that protects our privacy
Private is much more important than we have cared for. Especially in the digital world. We start to protect our information in case it is used for anything we didn’t expect to, that means our information should totally belong to ourselves but not some platform managed by other organizations. There are already many horrible examples that how other companies reveal or sell our data which we provided to them for free.
Just imagine when you walk into a pay toilet by your credit card, then your bank will soon know when, where and what had happened to you. We are monitored by people! We expect our account for keeping our assets safe but not for recording our daily life, right? Crypto payment is the only option.
The lightest and most reliable belongings
You just take your digital wallet wherever you want to, no problem with crossing borders. In contrast, imaging yourself bring a suitcase of gold or fiat, what do you need to do next?
To be continue
Buy your first crypto, and enjoy the journey. And to be clear and remind yourself again, your private key is everything of your assets. Protect it from everything.