Cryptoasset is a broad term for any digital token which is recorded on a blockchain. This term is more open than the term cryptocurrency and more appropriate because all kinds of non currency based assets can also be recorded on most blockchains. The term cryptocurrency can be misleading because it automatically makes people think of money. Because of its flexibility, cryptoasset is the largest umbrella term to refer to well over 2000 new digital tokens that are currently bought and sold.