10 Questions
What is a token?
A digital representation of an asset or deed
What are tokens used for?
Buying and selling on exchanges
What is the main difference between coins and tokens?
Tokens do not move around
When did tokens first appear?
Before crypto was even a thing
What is a market maker?
A person who creates tokens
What does a token represent?
An asset or deed
What is a DEX?
A digital exchange
What is the purpose of tokens?
To buy and sell on exchanges
What is the main advantage of tokens?
They are easier to create
What is the main difference between tokens and coins?
Tokens do not move around
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.
Test your knowledge about cryptocurrency tokens with this quiz. Learn about the differences between tokens and coins, their trading on exchanges, and their representation of assets or deeds.
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