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Cryptocurrency Tokens Quiz

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Questions and Answers

What is a token?

A digital representation of an asset or deed (correct)

A digital representation of money

A physical representation of an asset or deed

A physical representation of money

What do tokens have that coins do not?

More value

Ability to move around

Representation of something other than money (correct)

Easy creation

What is a common feature on DEXs?

Market makers (correct)

Token holders

Coin holders

Token traders

What is the difference between tokens and coins?

Tokens do not move around while coins do Signup and view all the answers

How long has the concept of tokens been around?

Since the mid-1980s Signup and view all the answers

What is the primary purpose of tokens?

Representing an asset or deed Signup and view all the answers

What is a market maker?

A person who buys and sells tokens Signup and view all the answers

Are tokens easier to create than coins?

Yes Signup and view all the answers

How do tokens and coins differ?

Tokens do not move around while coins do Signup and view all the answers

What do tokens represent?

An asset or deed Signup and view all the answers

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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Description

Test your knowledge on cryptocurrency tokens with this quiz. Learn about the differences between tokens and coins, their value, and their creation process.