If you're wondering what cryptocurrencies or NFTs in various forms that are popular for trading today are, we can explain that they are digital assets (Digital Assets). These are assets in digital form that hold value and can be bought, sold, exchanged, or owned just like traditional assets. However, the key difference is that digital assets are recorded on a blockchain, ensuring security, transparency, and verifiability.
Examples of popular digital assets:
Cryptocurrencies such as Bitcoin, Ethereum, KUB Coin
Digital Token such as NFT (Non-Fungible Token)
Other digital assets created on blockchain platforms
How are blockchain and digital assets different?
Blockchain technology plays a crucial role in digital assets, acting as a "public ledger" that records all transaction data, ensuring transparency, security, and verifiability. However, digital assets come with both advantages and risks, including:
Advantages of Digital Assets
Potential for rapid value growth: Digital assets can increase in value quickly, offering opportunities for capital gains.
High liquidity: They can be easily bought, sold, or exchanged on digital asset trading platforms.
Enhanced security: Blockchain technology provides robust security, reducing the risk of counterfeiting.
Accessibility: Digital assets enable broader access to asset ownership.
Risks to Consider
Volatility: Digital asset prices are highly volatile, posing a risk of loss.
Security risks: While blockchain is known for its security, there is still a potential risk of hacking.
What types of digital assets are there?
Currently, digital assets come in various forms and can be broadly categorized into two main types under the Digital Asset Decree:
1. Cryptocurrency
Cryptocurrency refers to electronic data units created within an electronic system or network. It is designed to serve as a medium of exchange for goods, services, rights, or for exchanging between different digital assets.
Well-known examples include:
Bitcoin (BTC)
Ethereum (ETH)
Litecoin (LTC)
Ripple (XRP)
Additionally, there are Stablecoins, which are pegged to the value of other assets, such as the US Dollar. Examples include:
Tether (USDT)
USD Coin (USDC)
2. Digital Token
Digital tokens are electronic data units created on blockchain systems to represent rights in goods, services, or investment projects. They can be categorized into two main types:
Investment Token: Digital tokens for investment purposes, comparable to "securities" in the digital world. Token holders are entitled to profit sharing, dividends, or voting rights. Examples include tokenized bonds or debt instruments.
Utility Token: Digital tokens for practical use, granting holders the right to access services on a platform or use specific goods and services. Examples include tokens for gaming, trading in-game items, or accessing special services.
Other Interesting Types of Digital Assets
Non-Fungible Token (NFT): NFTs are unique digital tokens that cannot be replaced or exchanged on a one-to-one basis. They are often used to represent ownership of digital assets such as artwork, music, videos, or in-game items.
Central Bank Digital Currency (CBDC): CBDCs are digital currencies issued by central banks. Many countries, such as China, Sweden, and Singapore, are studying and developing them.
In Thailand, the Digital Baht (Retail CBDC) is being developed by the Bank of Thailand. It functions similarly to cash but has no physical form, offering convenience, safety, and government-backed security. Unlike cryptocurrencies, it is not subject to high volatility.
The Digital Baht aims to complement cash, deposits, e-money, and mobile banking, reducing cash management costs and fostering financial innovation.
CBDCs are a significant step in improving payment systems, supporting the digital economy, and enhancing public policy efficiency. For Thailand, the Digital Baht is expected to elevate the country’s financial infrastructure and prepare it for the future (as per the Bank of Thailand).
What Types of Digital Assets Are Available on Bitkub NEXT?
Bitkub NEXT is a digital asset wallet designed to support transactions and store digital assets on the Bitkub Chain.
Currently, users can use Bitkub NEXT to collect NFTs and store digital assets based on the KAP-20 and KAP-721 standards, such as tokens and NFTs within the Bitkub Chain ecosystem, including the KUB coin.
To provide a clearer picture, digital assets on Bitkub NEXT are categorized into two main types:
Digital TokensExamples include:
USDT Kub (KUSDT)
Bitcoin Kub (KBTC)
Ethereum Kub (KETH)
Non-Fungible Tokens (NFTs)Examples include:
NFTs from the game Morning Moon Village
NFTs in the Bitkub Metaverse
Other unique NFT collections
Bitkub NEXT is currently developing additional features to support broader usage, making the platform more versatile, secure, and transparent. It leverages blockchain technology and is designed for ease of use, making it suitable for all user types.
Get Started with Owning Digital Assets on Bitkub NEXT
Bitkub NEXT is Thailand's leading digital asset wallet, developed by Bitkub Blockchain Technology Co., Ltd. It is secure, easy to use, and offers a wide range of digital assets to own.
You can easily open a Bitkub NEXT account from anywhere with just a mobile number in a few simple steps:
Visit the website at app.bitkubnext.com and click the "Register with Mobile Number" button.
Enter your mobile number (only Thai numbers are supported, starting with +66).
Read the Terms and Conditions and click "Accept".
Review the Privacy Policy and click "Accept".
Click "Request Verification Code", enter the OTP received, and click "Confirm".
Set up your PIN with a 6-digit code for added privacy.
Congratulations! Your Bitkub NEXT account is now successfully registered.
Summary
Bitkub NEXT is a digital asset wallet that supports transactions and the storage of digital assets on the Bitkub Chain. Currently, Bitkub NEXT can be used to collect NFTs and store digital assets based on KAP-20 and KAP-721 standards, such as tokens, NFTs on the Bitkub Chain, and KUB coins.
Getting started with owning digital assets on Bitkub NEXT is simple. Just open an account via app.bitkubnext.com by registering with your mobile number. Read and accept the terms and policies, enter the OTP, and set a 6-digit PIN. You’re ready to use Bitkub NEXT immediately.
Risk Warning:
Digital assets involve risks. Please study and invest according to your risk tolerance.
Bitkub NEXT is a Non-Custodial Wallet provider and is not a business regulated by the Securities and Exchange Commission (SEC).
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