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A cryptocurrency is a digital asset that exists solely on the internet. This means it doesn't have a physical component and only exists as records in an online ledger that tracks ownership. This is in contrast to the United States dollar, which has both a physical (you can withdraw and hold a dollar bill) and a digital component (you can own a dollar as nothing more than an entry in your bank account recording that ownership). A cryptocurrencyrsquo;s individual unit is referred to as a token, much as a stock's individual unit is referred to as a share. Copyright © 2018 - 2022 Crypto.com. All rights reserved. Coinbase’s head start into the mainstream gave it a leg up on a lot of the competition. But several other exchanges are planning to go public soon too. We’ll be curious to see what kind of attention these other exchanges get after their debut on a major exchange. But either way, it’ll be tough to beat the splash Crypto.com got for buying the naming rights to the arena the Los Angeles Lakers play their home games at.