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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 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?
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?
What is a common feature on DEXs?
- Market makers (correct)
- Token holders
- Coin holders
- Token traders
What is the difference between tokens and coins?
What is the difference between tokens and coins?
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How long has the concept of tokens been around?
How long has the concept of tokens been around?
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What is the primary purpose of tokens?
What is the primary purpose of tokens?
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What is a market maker?
What is a market maker?
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Are tokens easier to create than coins?
Are tokens easier to create than coins?
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How do tokens and coins differ?
How do tokens and coins differ?
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What do tokens represent?
What do tokens represent?
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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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Description
Test your knowledge on cryptocurrency tokens with this quiz. Learn about the differences between tokens and coins, their value, and their creation process.
