without the need for a central authority and can be used for a variety of financial transactions, such as buying goods and services, investing, and sending and receiving money across borders.An asset is a resource with economic value that can be owned or controlled. A digital asset, such as BTC, or another cryptocurrency, that can be purchased or traded on a platform built on a blockchain is referred to as an asset in the context of cryptocurrencies.
like equities, bonds or real estate, these digital assets are frequently viewed as a store of value. However, cryptocurrencies are a high-risk investment since they are frequently quite volatile and can undergo large price swings.Stop chasing money, status and liabilities.— Jay A liability is a financial obligation or debt that an individual or organization owes to another party.
For instance, if someone borrows cryptocurrency from a lender, they would be responsible for paying back the borrowed cryptocurrency plus interest to the lender. Similarly, until the customer receives their money back, all funds held by a cryptocurrency exchange would be seen as a liability.Net worth is the total value of an individual’s assets minus their liabilities.