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Questions and Answers
What is a token?
What is a token?
- A digital representation of an asset or deed (correct)
- A type of coin
- A form of currency
- A form of payment
What are tokens used for?
What are tokens used for?
- Buying and selling on exchanges (correct)
- Storing money
- Making payments
- Trading stocks
What is the main difference between coins and tokens?
What is the main difference between coins and tokens?
- Tokens are more valuable than coins
- Coins are easier to create
- Tokens do not move around (correct)
- Tokens are used for trading stocks
When did tokens first appear?
When did tokens first appear?
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What is a market maker?
What is a market maker?
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What does a token represent?
What does a token represent?
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What is a DEX?
What is a DEX?
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What is the purpose of tokens?
What is the purpose of tokens?
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What is the main advantage of tokens?
What is the main advantage of tokens?
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What is the main difference between tokens and coins?
What is the main difference between tokens and coins?
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Study Notes
- A token is a digital representation of an asset or deed.
- Tokens can be bought and sold on exchanges, and some tokens have more value than coins.
- Tokens are easy to create, and market makers are common on DEXs.
- Crypto coins and tokens differ in a few ways, the most notable of which is that tokens do not move around, while coins do.
- Tokens represent something else other than just money, and they date back to before crypto was even a thing.
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