Are you curious about cryptocurrency but feel overwhelmed by the technical jargon and market hype? You’re not alone. With thousands of digital assets, a volatile market, and constant headlines, it’s easy to feel lost. This comprehensive beginner’s guide is designed to cut through the noise. We’ll explain how cryptocurrency works in plain English, walk you through safe investment strategies, and help you build the foundational knowledge you need to participate confidently. Whether you’re looking to understand the technology or make your first crypto investment, this guide is your starting point for navigating the exciting world of digital assets .
The crypto landscape has transformed dramatically. The approval of major financial instruments like Bitcoin ETFs has brought institutional interest and new regulations, making 2025 an unprecedented time to learn . But with opportunity comes risk. Scams are prevalent, and the market’s volatility demands respect . This guide prioritizes your security and education, ensuring you don’t just follow trends but understand the fundamentals of blockchain technology and smart portfolio management .
You’ve heard the buzz. Bitcoin is hitting new highs, your friend made a profit on an obscure altcoin, and headlines scream about the future of finance. But when you try to understand it, you’re met with a wall of confusing jargon—blockchain, wallets, DeFi, NFTs. It feels like learning a new language overnight.
If that sounds familiar, take a deep breath. You’re not alone. Every expert was once a crypto beginner wondering where to start. This Crypto 101 guide is designed to be that starting point for you. We’ll cut through the complexity and translate the crypto basics into plain, actionable English.
Think of this as your friendly map to the digital frontier. By the end, you won’t just know the terms—you’ll understand the core ideas, feel confident assessing opportunities, and know how to take your first steps safely. Let’s begin your journey.
What is Cryptocurrency? A Simple Explanation
At its heart, a cryptocurrency is a digital form of money. But unlike the dollars in your bank account, it’s not issued or controlled by any government, bank, or central authority. Instead, it operates on a peer-to-peer network of computers using groundbreaking technology.
The “crypto” part comes from cryptography, a method of securing information that makes these digital currencies extremely difficult to counterfeit or double-spend. This solves a fundamental problem of digital assets: how do you prove you own something and haven’t copied it?
So, what makes crypto so revolutionary?
Traditional online payments, like a credit card transaction, require a middleman (a bank) to verify and approve the transfer. Cryptocurrency cuts out the middleman. Transactions occur directly between users and are recorded on a public, transparent ledger called a blockchain. This brings unprecedented transparency, security, and potential for financial inclusion.
Did you know? The first real-world bitcoin transaction was for pizza! In 2010, a programmer paid 10,000 BTC for two pizzas. At today’s prices, that’s a multi-million dollar meal.
What crypto is (in plain English)
Cryptocurrency is digital money that doesn’t require a central bank to verify transactions; instead, it uses blockchain technology to record and secure transfers on a shared ledger.
Most people enter crypto either to invest long-term, trade short-term, or use blockchain apps—each path requires different risk management and tools.
So here’s a question: are you here for “learn the basics,” or are you here because you’re ready to buy your first coin and want to avoid rookie mistakes?
Crypto 101 fundamentals: blockchain, coins, and tokens
Blockchain is the technology that records transactions in a way that’s traceable and hard to alter, which is why it’s used to secure crypto transfers.
A common beginner confusion is “coins vs tokens”: tokens usually live on an existing blockchain, while coins generally have their own native network.
Why this matters for beginners
If you don’t know what network you’re using, you can lose funds by sending assets to the wrong chain or using the wrong route.
That’s why Crypto 101 isn’t just definitions—it’s operational knowledge that improves your “human ROI”: fewer mistakes, less stress, better decision velocity.
Wallets: the most important concept in crypto
A crypto wallet provides the keys (public and private) that let you interact with assets on a blockchain network.
Your public key (or wallet address) is what you share to receive funds, while your private key is what gives access/control to move funds—so it must stay secret.
Here’s the key question: do you want convenience (custodial) or ownership/control (self-custody)?
Hot vs cold wallets (quick decision rule)
Coursera explains that hot wallets are connected to the internet and easier to use, but they have more exposure to online threats, while cold wallets stay offline and reduce that risk.
A practical beginner approach is to keep small “spending” amounts in hot wallets and keep larger holdings in cold storage for long-term safety.
Exchanges: where beginners usually buy crypto
To get started, many people use a broker or a crypto exchange to purchase assets after account setup and identity verification (often required).
Coursera also notes you’ll typically fund the account (bank transfer/card), then place your first buy order once the account is ready.
CEX vs DEX (beginner-safe framing)
Centralized exchanges (CEX) act as intermediaries for buyers and sellers and can feel “bank-like,” while decentralized exchanges (DEX) allow trading without a central middleman—but require more self-custody competence.
If your #1 KPI is reducing beginner error, start with the simplest route first, then graduate into DeFi once you can manage wallet security confidently.
A practical “first purchase” plan (minimizing risk)
Crypto is volatile, so starting small and building comfort with the tools is repeatedly recommended as a risk-reduction habit.
Use this beginner flow:
Pick a reputable exchange (optimize for security + ease-of-use).
Secure the account (strong password + 2FA).
Buy a small amount first to learn the process.
Decide storage: leave small amounts on exchange for convenience, move larger amounts to a wallet you control.
Do a tiny test transfer before moving larger funds (prevents costly mistakes).
Question for you: are you optimizing for speed (buy now) or for safety (learn + test first)?
Security: private keys, backups, and “don’t get rekt” rules
A private key is the critical secret that authorizes transactions and proves control over the wallet; if someone gets it, they can move your funds.
Because blockchain transactions are typically irreversible, losing keys or leaking them can mean permanent loss—so backups and secure storage are non-negotiable.
Beginner security checklist (high impact)
Turn on 2FA where possible to reduce account takeover risk.
Back up your recovery phrase/private key safely (offline and redundant).
Start with small test transactions to confirm addresses/networks.
How Does Cryptocurrency Work? The Basics of Blockchain
To truly grasp crypto, you must understand its engine: the blockchain. Imagine a digital ledger, like a spreadsheet, that records every single transaction. Now, imagine that this ledger isn’t stored in one place but is copied across thousands of computers worldwide. That’s a blockchain in a nutshell.
Here’s a simple breakdown of the process:
Transaction Initiation: You decide to send crypto to a friend.
Broadcast & Verification: Your transaction is broadcast to a network of computers (nodes). These nodes use complex algorithms to verify its validity—confirming you have the funds and the right to send them.
Adding to a Block: Once verified, your transaction is grouped with others into a “block.”
Chaining the Blocks: This new block is then added to the existing chain of historical blocks, hence the name blockchain. It’s linked using cryptographic hashes, making the record virtually immutable.
Completion: The ledger is updated across the entire network, and your friend receives the crypto.
This decentralized, transparent system is what gives cryptocurrency its core strengths: security, trustlessness (you don’t need to trust a single entity), and resilience.
The Crypto Family Tree: Understanding Different Types
Not all digital assets are the same. The cryptocurrency ecosystem is diverse, with each type serving different purposes. Let’s categorize them.
Bitcoin (BTC): The Digital Pioneer
Bitcoin is the original. Created in 2009 by the mysterious Satoshi Nakamoto, it was designed as a “peer-to-peer electronic cash system”. Today, it’s often seen as “digital gold”—a scarce, durable store of value. Its supply is capped at 21 million coins, creating inherent scarcity.
Altcoins: The Alternatives
Altcoin is a term for any cryptocurrency alternative to Bitcoin. They often build upon Bitcoin’s ideas or pursue entirely different goals.
Ethereum (ETH): More than a currency, Ethereum is a programmable platform. Its key innovation is the smart contract—self-executing code that powers decentralized applications (dApps), DeFi, and NFTs.
Litecoin (LTC): Created as the “silver to Bitcoin’s gold,” it offers faster transaction times.
Ripple (XRP): Focuses on fast, low-cost international payments for financial institutions.
Tokens: Digital Assets with Purpose
Tokens are built on top of existing blockchains like Ethereum. They represent assets or utilities.
Utility Tokens: Provide access to a service (e.g., file storage).
Governance Tokens: Give holders voting rights in a decentralized project.
Security Tokens: Represent real-world assets like stocks, subject to regulations.
Confused about coins vs. tokens? Remember: Coins (like Bitcoin, Ethereum) have their own native blockchain. Tokens live on top of another coin’s blockchain.
Your First Crypto Purchase: A Step-by-Step Guide
Ready to dip your toes in? Here’s how to buy your first cryptocurrency safely.
Step 1: Choose a Reputable Crypto Exchange
A crypto exchange is a platform where you can buy, sell, and trade digital assets. For beginners, user-friendly, regulated exchanges are best. Look for strong security features, good customer support, and a clean interface.
Step 2: Secure Your Account
Create an account and enable Two-Factor Authentication (2FA) immediately. This adds a critical extra layer of security beyond your password.
Step 3: Fund Your Account & Make a Purchase
Most exchanges allow you to deposit fiat currency (like USD) via bank transfer or card. Once funded, you can place an order. For your first buy, a simple “market order” to purchase a small amount of Bitcoin or Ethereum is a great start.
Pro Tip: Start small. Use an amount you’re comfortable losing to learn the process without pressure. This is a core principle of crypto investing for beginners.
How to Store Crypto Safely: Wallets 101
After buying crypto on an exchange, it’s crucial to understand storage. Leaving assets on an exchange exposes you to risk (hacks, platform failure). The solution is a crypto wallet.
Hot Wallets vs. Cold Wallets
Hot Wallets: Connected to the internet (e.g., mobile apps, browser extensions). Convenient for frequent trading but more vulnerable online.
Cold Wallets: Offline devices (e.g., hardware wallets like Ledger or Trezor). They store your private keys offline, offering the highest security for long-term holding.
The Golden Rule: Your Keys, Your Crypto
Your private key is a secret code that proves ownership of your crypto. If you lose it, your funds are gone forever. If someone else gets it, they can steal everything. Never share your private key or recovery phrase. A true wallet gives you control of these keys.
Chapter 1: Cryptocurrency Demystified – What Is It and How Does It Work?
1.1 The Core Idea: Digital Money Without a Central Bank
At its simplest, a cryptocurrency is a form of digital or virtual currency. Unlike traditional money issued by governments (fiat currency like the dollar or euro), crypto operates on a decentralized system. This means no single entity like a central bank or government controls it .
Transactions are verified and recorded by a network of computers using blockchain technology, creating a secure and transparent public ledger. The “crypto” in cryptocurrency refers to the cryptography—advanced encryption techniques—used to secure these transactions and control the creation of new units .
Think of it this way: Instead of a bank keeping a private ledger of your account, thousands of computers worldwide hold an identical, public copy of a ledger that records every transaction. This makes the system incredibly resistant to fraud and tampering.
1.2 The Engine Room: Understanding Blockchain Technology
Blockchain is the foundational technology for most cryptocurrencies. Imagine it as a digital chain of “blocks,” where each block contains a list of recent transactions. Once a block is filled with data, it is cryptographically sealed and linked to the previous block, forming a chain .
This structure is key to its security and trustworthiness:
Decentralization: The ledger is distributed across a vast network of computers (nodes). There’s no single point of failure.
Transparency: Anyone can view the transaction history, promoting accountability.
Immutability: Once recorded, data in a block cannot be altered retroactively without altering all subsequent blocks, which requires the consensus of the network majority. This makes it practically tamper-proof .
1.3 Key Differences: Crypto vs. Traditional Finance
Understanding how crypto diverges from the traditional financial system is crucial for any beginner.
| Feature | Traditional Currency (e.g., USD, EUR) | Cryptocurrency (e.g., Bitcoin, Ethereum) |
|---|---|---|
| Control | Centralized (Government & Central Banks) | Decentralized (Network of Users) |
| Form | Physical (cash) and digital | Purely digital |
| Transaction Verification | By banks and financial intermediaries | By a decentralized network (miners or validators) |
| Transaction Speed & Cost | Can be slow (days for wire transfers) with higher fees | Can be faster (minutes) with typically lower fees |
| Government Backing & Insurance | Backed by government trust; bank deposits are often insured (e.g., FDIC) | Not backed by any government; no deposit insurance |
| Value Stability | Generally stable, though subject to inflation | Highly volatile; values can change dramatically hourly |
Chapter 2: A Practical Beginner’s Guide to Your First Crypto Investment
2.1 Step-by-Step: How to Buy Cryptocurrency Safely
For a beginner investor, the process can be broken down into clear steps:
Choose a Reputable Platform: You’ll need to use a cryptocurrency exchange or a broker. Centralized exchanges (CEX) like Coinbase, Binance, or Gemini act as intermediaries and are often the most user-friendly for beginners. They allow you to buy crypto using traditional money (fiat) .
Fund Your Account: Link your bank account, debit card, or use a wire transfer to deposit funds into your exchange account.
Select Your Cryptocurrency: Start with established, well-known assets. Bitcoin (BTC) and Ethereum (ETH) are typically recommended as the first cryptocurrencies to invest in due to their longevity and large market presence .
Place an Order: You can place a “market order” to buy at the current price or a “limit order” to set a price at which you want to buy.
Secure Your Investment: This is the most critical step. Do not leave large amounts of crypto on the exchange. Transfer it to a personal crypto wallet for which you control the private keys .
2.2 Storing Your Crypto: Wallets 101
A crypto wallet doesn’t store currency like a physical wallet; it stores the cryptographic private keys that prove your ownership of digital assets on the blockchain .
Hot Wallets: Connected to the internet (software wallets on your phone/computer or web wallets on an exchange). Convenient for small, frequent transactions but more vulnerable to online attacks.
Cold Wallets (Cold Storage): Not connected to the internet (hardware devices or paper wallets). These are considered the safest way to store crypto long-term, especially for significant holdings, as they are immune to online hacking attempts .
2.3 Starting Smart: Investment Strategies for 2025
Jumping in without a plan is a common pitfall. Here are foundational strategies endorsed for beginners in 2025 :
Diversification: Don’t put all your funds into one asset. Spread your investment across different types of cryptocurrencies (e.g., Bitcoin, Ethereum, and maybe a few select altcoins) to manage risk .
Long-Term Holding (HODLing): This involves buying and holding assets for years, ignoring short-term price swings. Historically, this passive strategy has rewarded patient investors in crypto, as seen with Bitcoin’s growth over the past decade .
Dollar-Cost Averaging (DCA): This is one of the most effective crypto investment strategies for beginners. Instead of investing a lump sum, you invest a fixed, affordable amount at regular intervals (e.g., $50 every week). This smooths out the average purchase price over time, removing the stress of trying to “time the market” .
Chapter 3: Navigating the Crypto Ecosystem – Key Concepts and Assets
3.1 Beyond Bitcoin: Types of Cryptocurrencies
The term “crypto” encompasses a wide variety of digital assets with different purposes .
Bitcoin (BTC): The first and most famous cryptocurrency, designed primarily as a decentralized digital “store of value” and peer-to-peer payment system.
Ethereum (ETH): More than a currency, Ethereum is a programmable blockchain. It enables smart contracts (self-executing contracts) and is the foundation for most decentralized applications (DApps), NFTs, and the DeFi (Decentralized Finance) ecosystem .
Altcoins: Any cryptocurrency other than Bitcoin (e.g., Cardano/ADA, Solana/SOL, XRP). Some aim to improve upon Bitcoin’s technology, while others serve specific niches like smart contracts, privacy, or supply chain management .
Stablecoins: Cryptocurrencies pegged to a stable asset like the US dollar. They aim to combine the benefits of crypto (fast, global transactions) with the price stability of fiat, making them useful for trading and payments .
Tokens vs. Coins: A key distinction. Coins (like BTC or ETH) operate on their own native blockchain. Tokens are built on top of an existing blockchain (like many tokens built on Ethereum) and can represent assets, utility, or governance rights .
3.2 The Rise of Decentralized Finance (DeFi) and NFTs
DeFi: An umbrella term for financial services (lending, borrowing, trading, earning interest) built on public blockchains, primarily Ethereum. It removes intermediaries like banks, allowing users to interact directly with protocols via smart contracts .
NFTs (Non-Fungible Tokens): Unique digital assets that represent ownership of a specific item, like digital art, collectibles, or in-game items. Unlike cryptocurrencies, which are fungible (one Bitcoin equals another), each NFT has a unique value and properties .
Chapter 4: Risk Management and Security – Your Responsibility
4.1 Understanding the Inherent Risks
Is cryptocurrency a good investment? It can be, but it is highly speculative and risky. You must acknowledge these risks :
Extreme Volatility: Prices can swing wildly in short periods. An asset worth thousands today could be worth hundreds tomorrow .
Regulatory Uncertainty: Governments worldwide are still defining how to regulate crypto, which can impact the market positively or negatively.
Technological Risk: This includes potential vulnerabilities in blockchain code, smart contract bugs, or the theoretical future threat of quantum computing.
No Safety Net: Crypto investments are not insured by government agencies like the FDIC. If you lose your private keys or fall victim to a scam, your funds are likely gone forever .
4.2 How to Spot and Avoid Scams
Scammers are prolific in the crypto space. The FTC and other agencies warn of common tactics :
Guaranteed Returns: Anyone who promises you will definitely make money is lying. There are no guarantees.
Romance Scams: A new online romantic interest who suddenly starts talking about a “can’t-miss” crypto investment opportunity is almost certainly a scammer.
Fake Celebrity Endorsements: Scammers create fake videos or social media posts pretending to be celebrities promoting a crypto giveaway. If you send them crypto to “participate,” you will lose it.
Phishing Attacks: Fake emails or websites designed to steal your exchange login credentials or private keys.
“Pig Butchering” Scams: A long-con where a scammer builds trust over weeks or months, eventually convincing you to invest large sums into a fake trading platform.
Golden Rule: Only invest money you can afford to lose, and be deeply skeptical of anything that sounds too good to be true.
Chapter 5: Building Your Knowledge – Continual Learning
The crypto market evolves daily. Continuous learning is a crypto holder’s number-one tool . To stay informed:
Follow Reputable News Sources: Sites like Coindesk and Cointelegraph offer news and analysis .
Use Educational Platforms: Coinbase Learn and Binance Academy provide excellent free courses and glossaries for all skill levels .
Explore Formal Courses: Platforms like Coursera offer university-level courses on blockchain and cryptocurrency for deeper dives .
Understand Regulations: Keep an eye on regulatory developments like the EU’s MiCA framework, as they shape the market’s future .
How to Invest in Crypto: Smart Strategies for Beginners
Crypto investing is exciting but volatile. A smart strategy is essential.
1. Do Your Own Research (DYOR)
Never invest based on hype or a friend’s tip. Research the project’s purpose, team, technology, and community.
2. Embrace Dollar-Cost Averaging (DCA)
Instead of trying to time the market, invest a fixed amount at regular intervals (e.g., $50 every week). This smooths out price volatility over time.
3. Understand HODLing
HODL (Hold On for Dear Life) is a popular strategy where you buy and hold assets for the long term, believing in their future value despite short-term market swings.
4. Diversify Your Portfolio
Don’t put all your eggs in one basket. A balanced portfolio might include Bitcoin, major altcoins like Ethereum, and perhaps a small allocation to promising smaller projects.
Crypto Lingo: Essential Jargon Decoded
Speaking the language helps you navigate the space confidently.
Blockchain: A decentralized digital ledger recording all transactions.
DeFi (Decentralized Finance): Financial services (lending, borrowing) built on blockchain without traditional intermediaries.
NFT (Non-Fungible Token): A unique digital certificate of ownership for an asset, like art or collectibles.
Gas Fees: Transaction fees paid to network validators, common on Ethereum.
FUD/FOMO: FUD (Fear, Uncertainty, Doubt) is spreading negativity. FOMO (Fear Of Missing Out) is impulsive buying driven by hype.
Whale: An individual or entity holding enough crypto to influence market prices.
Navigating the Risks: A Realistic Look at Challenges
Crypto is a frontier, and with great opportunity comes real risk.
Volatility: Prices can swing dramatically in short periods.
Security Threats: Scams, phishing attacks, and exchange hacks are real. Vigilance is non-negotiable.
Regulatory Uncertainty: Governments are still figuring out how to regulate crypto, which can create uncertainty.
Rug Pulls: Scams where developers abandon a project and run off with investors’ funds.
The best defense is education, using secure practices (hardware wallets, 2FA), and investing only what you can afford to lose.
The Future of Cryptocurrency: What’s Next?
The crypto narrative is evolving from speculative asset to foundational technology. We’re seeing institutional adoption through Bitcoin ETFs, the growth of DeFi in reimagining finance, and NFTs creating new digital economies. The integration of blockchain into supply chains, voting systems, and digital identity points to a future where this technology becomes part of our everyday digital infrastructure.
Conclusion
You’ve just completed your Crypto 101 crash course. You now understand what cryptocurrency is, how blockchain works, the different types of assets, and how to safely buy and store them. Remember, the key to success in this space is continuous learning and prudent risk management.
Your journey into cryptocurrency starts with education, and by reading this guide, you’ve already taken the most important step. Remember, success in this space is less about getting rich quick and more about understanding revolutionary technology, practicing disciplined portfolio management, and prioritizing security above all else.
Start small. Use a reputable exchange, practice transferring small amounts to your own cold wallet, and employ a simple DCA strategy with an asset like Bitcoin or Ethereum. As your confidence and knowledge grow, you can carefully explore other areas of the ecosystem.
Your next step? Put theory into practice. Open an account on a reputable exchange, make a small, educated first purchase, and transfer it to your own secure wallet. Experience is the best teacher.
Got questions? Share your thoughts or which crypto concept you’re most curious about in the comments below! And if you found this guide helpful, share it with another crypto beginner in your life.
Frequently Asked Questions (FAQ)
What is Crypto 101?
Crypto 101 is a beginner-level framework for understanding how cryptocurrency works, how to buy it, and how to store it safely using wallets and exchanges.
Do I need a wallet to buy crypto?
Many beginners buy through an exchange first, but crypto is commonly stored in a crypto wallet, especially if you want more control over your assets.
What’s the difference between a public key and a private key?
A public key (wallet address) can be shared to receive funds, while the private key is what authorizes spending and must remain secret.
What is a hot wallet vs a cold wallet?
Hot wallets are online and more convenient but can be more exposed to cyber risk; cold wallets are offline and generally safer for long-term storage.
What’s the safest way to start in crypto?
Start small, secure your accounts with 2FA, and do test transactions before moving larger amounts to reduce error and loss risk.
What is the best cryptocurrency for a beginner to buy?
For absolute beginners, Bitcoin (BTC) or Ethereum (ETH) are often the best starting points. They are the most established, have the largest communities and resources, and are available on every major exchange. They provide exposure to the core ideas of the space with relatively (though not absent) lower risk compared to newer, smaller projects.
How much money do I need to start investing in crypto?
You can start with a very small amount. Many exchanges allow you to buy fractions of a coin (e.g., $10 worth of Bitcoin). This makes crypto investing highly accessible. The important rule is to only invest money you are prepared to lose, especially when you’re still learning.
Is cryptocurrency safe?
Cryptocurrency itself, based on blockchain technology, is very secure. The primary risks come from user error and third-party services. Using strong passwords, enabling 2FA, storing large amounts in a cold wallet, and being wary of scams are essential practices to keep your investment safe. The mantra “not your keys, not your crypto” underscores this.
What is the difference between a coin and a token?
A coin (like Bitcoin, Litecoin) operates on its own independent blockchain. A token is built on top of an existing blockchain (like Ethereum) and relies on its network. Tokens often represent assets or utilities within a specific project’s ecosystem.
Can I lose all my money in crypto?
Yes, it is possible. The market is highly volatile, and poor investments can go to zero. This is why the principle of DYOR (Do Your Own Research), diversification, and never investing more than you can afford to lose is so critical for anyone involved in crypto investing.
What is the easiest crypto strategy for a complete beginner?
Dollar-Cost Averaging (DCA) into Bitcoin or a mix of Bitcoin and Ethereum is widely considered the simplest and most stress-free strategy. It removes the emotion and difficulty of trying to time the market .
How much money do I need to start investing in cryptocurrency?
You can start with a very small amount. Many exchanges allow you to buy fractional shares of cryptocurrencies, meaning you can invest $10, $25, or $50 to begin with. The key is to only invest what you can afford to lose .
Are cryptocurrencies safe?
The underlying blockchain technology of major cryptocurrencies like Bitcoin is considered very secure. However, the ecosystem around it (exchanges, your own storage practices) carries risks. Using a cold wallet for storage and enabling strong security practices (2FA, etc.) on exchanges greatly enhances safety .
Do I have to pay taxes on cryptocurrency?
In most countries, including the U.S., yes. Cryptocurrency is typically treated as property for tax purposes. This means you may owe capital gains tax when you sell, trade, or spend it, and you must report any profits or losses to tax authorities like the IRS .
What is the difference between a coin and a token?
A coin (like Bitcoin or Ethereum) operates on its own independent blockchain. A token is a digital asset built on top of an existing blockchain (like an ERC-20 token on Ethereum). Tokens can represent assets, utility, or voting rights within a specific project’s ecosystem .
