The new DEFI platform enters the market! Earn passively - token sale 0.25 $ I'm going in!

What is the difference between NFTs, Cryptocurrency and Digital currency?

3 min reading

AS TECHNOLOGY DEVELPOS MORE AND MORE SO DOES THE WORLD WITH IT

As technology grows more and more so does the world with it. They are jumping from traditional to digital wallets which has both fiat currency as well as crypto. One should always be aware of the options available as there are too many available at the market today. Digital currency is nothing but the electronic form of fiat money which is issued by governments. Crypto is a non-physical currency which is issued by a private system it is decentralised and not regulated by any government and it runs on blockchain technology. NFTs or Non-fungible tokens are digital assets that depict real world things like music, art, memes, fashion etc. 

DIGITAL CURRENCY

Digital currency is simply an electronic form of real-world money. A person can purchase products conduct transaction using digital currency in any part of the world even if in reality digital currency doesn’t have any real-world physical attribute. Even though digital currency doesn’t need any encryption users will require different type of secure passwords to protect their digital wallets from theft or hacking.  

CRYPTOCURRENCY

Crypto runs on blockchain technology that records and stores data on every transaction created in a public ledger which can be attained by anyone. It is a decentralised system which isn’t controlled by any centralised regulation. Every transaction is recorded in a decentralised ledger which is available for everyone to witness cancelling the requirements for a central authority. Unlike digital currency, it is protected by tough encryption. 

NFTs or Non-fungible tokens

NFTs or Non-Fungible token is a unique digital asset which depicts real-world material. NFTs is not usually interchangeable and are quite different from cryptocurrencies which are fungible tokens. So generally, NFTs are handled by a digital ledger and every transaction is done online. 

The main difference between all of them is that unlike crypto and digital currency NFTs cannot be exchanged for each other as they are a one-of-a-kind real-world asset. Whereas, crypto and digital currency can be exchanged as there will be no loss to their value. Digital currencies are centralised are handled by authorities like banks and governments that keep a track of the transactions that take place. Cryptocurrency and NFTs are decentralised that run them. NFTs are available through a digital public ledger unlike crypto. 

Currency Exchange rate Buy cryptocurrency

The new DEFI platform enters the market! Earn passively - token sale 0.25 $

Dear customer,

We use cookies to provide our services correctly and safely. Cookies are small text-based data sets that shall be saved on the device you are using in connection with the use of this instnat website. Cookies are created in order to ensure proper functioning of thes instant website. By clicking the button "I accept and go to the website", you implicitly agree to creation of the cookies on your computer and to deploy automatic tracking and data collection and processing on behalf of the Lushup Holdings FZ LEE. Click the above-captioned button is also tantamount to accepting website's privacy policy. Closing the notification by means of "X" is unequivocally connected with your consent. If you do not agree to any of the above, please discontinue using our Website.

“Cookies” shall make an identification of the software used by you and to customization of this instant website to your needs. Cookies contain the name of the domain from which they origin, duration of period of their storage on your computer and an assigned value.

Third party cookies:
We also use third-party cookies for the following purposes:

  • creating statistics - helping to understand the way Users use the Website, which allows to improve its structure and content with use of the analytical tools
  • defining a user profile - in order to display custom-tailored content in advertising networks.

External entities that might be source of any third-party cookies on this instant Website are as follows:

Using a settings of your web browser or by using pre-set configuration tools available in our service you can independently and at any time change the settings concerning your use of the “cookies”, specifying the conditionsof their storage and how your device is creating and downloading them. These settings can be changed to block the automatic handling of cookies in the settings of your web browser or inform about their placement on your device each time.

Detailed information about the options related to use of “cookies” is available in the settings of your software (web browser).

Service privacy policy

This instant document lays out the principles of the Privacy Policy on the tokeneo.com/news/pl website (hereinafter referred to as the "Website" or "Service"). The administrator of the Website is Lushup Holdings FZ LEE, Fujairah - Creative Tower, P.O.Box 4422 Fujairah, United Arabs Emirates.

The full document to read the Tokeneo privacy policy is available in this document.

Advanced settings can be changed in your browser.