coins or tokens? everything you need to know about crypto-assets out there - pumapay.io

Coins or Tokens? Everything you need to know about crypto-assets out there

 

Starting in 2009, the “crypto-asset phenomenon” has taken the digital technology and financial world by storm. Yet, there is still much left to be desired in terms of its adoption by the masses.  Much of this can be attributed to the lack of education and resources available to aid the average user in effectively understanding and utilizing the opportunities that cryptocurrency offers.    
  
To help ease this confusion and get you started on your journey, let’s briefly go over what we’ve already discussed: what exactly are crypto-assets  

  

Crypto-assets: the basics  

 

Crypto-assets are essentially a new class of digital assets assigned value and used for exchange by and between their users.   

  

The main difference between digital assets and those that are tangible is exactly that- instead of in our pockets, crypto-assets are stored and managed on blockchain technology using cryptography. This software is run by a network of computers all over the world, and enables the exchange of value between peers.   

  

Crypto-assets can be broken down into at least 7 different categories. Broadly speaking, the two most common varieties include: cryptocurrency coins and tokens: 

  

  1.  Cryptocurrency coins, like Bitcoin and Dash, operate on their own blockchain   system and offer the same utility as traditional currency – a means by which value can be exchanged between users but without the need for a middleman.
  2. Tokens, like our PMA token or ERC-20, are digital assets found on existing blockchains that represent some kind of utility created by an initial coin offering. Tokens can represent a variety of assets, ranging from loyalty points to cryptocurrencies.  
 

Although different, it is important to note that the classification of an asset as a coin or token has little to no impact on its value or usability.    

  

Now that we’ve established the basic definitions, you may be wondering why large investors continue to participate in the market and why cryptocurrencies garner such attention in the media.   

  

To help illustrate their importance, we can start by looking back to 2016. During this time, the crypto-asset market was valued at approximately $9 billion. Fast forward to four years later, this value has exceeded $420 billion.   

  

And with that… let’s explore how the average user can enter and benefit from the crypto-asset market.   

  

How to enter the crypto-asset market  

  

For many, the process of entering the crypto-asset market can seem like a daunting feat. Luckily, however, new tools have been introduced that have opened the doors to the market by allowing users to purchase their first crypto-asset in just a few minutes!   

  

To begin your journey, you will first need to find a wallet that deals with the cryptocurrencies you wish to trade.   

  

At PumaPay, we offer a comprehensive Mobile Wallet  App that users can store, exchange, send and receive a variety of cryptocurrencies with, including; PMA,Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Dash (DASH), Stellar (XLM),Ripple (XRP)and all other ERC20 tokens.   

  

Once you download the app and create or import your crypto wallet, you can immediately start receiving and storing coins. Access to all our features, such as currency exchange and crypto payments can easily be unlocked to all who complete our new onboarding process and verify their KYC documents.   

  

Once you have followed these steps, you will become a participant in a market worth over $420 billion and thanks to our app, you will be able to buy, sell and exchange cryptos as well as have the option to subscribe to a number of PMA-supported businesses!    

  

  

Begin your journey into the crypto-asset market!   

Download your free crypto wallet today – available for iOS or Android. 

 

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