Cryptocurrency Q&A
Is NFT a currency?
Is NFT a currency?
EmilyJohnson
Sun Nov 24 2024
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5 answers
1306
I'm exploring the concept of NFT and its relation to currency. I'm wondering if NFT can be considered a form of currency, given its digital and transferable nature. Can someone clarify this for me?
5 answers
KimonoElegance
Mon Nov 25 2024
For instance, one dollar bill can be exchanged for another dollar bill, and one Bitcoin can be traded for another Bitcoin of the same value.
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Maria
Mon Nov 25 2024
NFT is an acronym that stands for 'non-fungible token'.
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Caterina
Mon Nov 25 2024
The term 'non-fungible' implies that the item in question is unique and possesses characteristics that cannot be replicated.
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DiamondStorm
Mon Nov 25 2024
This is in stark contrast to physical money and cryptocurrencies, which are considered to be fungible.
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Stefano
Mon Nov 25 2024
Fungibility refers to the ability of an asset to be traded or exchanged for another asset of the same type and value.
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