⁉️ Quiz 1 Title: What's the Difference Between a Coin and a Token?
1. What are coins in the crypto world primarily used for?
🟢 Digital currency and long-term value storage.
2. What is the main difference between a coin and a token?
🟢 Coins have their own blockchain; tokens live on someone else’s blockchain.
3. What type of projects or assets can tokens represent?
🟢 They can represent assets, give voting rights, or even represent NFTs.
4. What blockchain is most commonly used by tokens?
🟢 Ethereum.
5. What is the best way to think about coins in the crypto world?
🟢 Like solid real estate.
6. What does the script compare tokens to in the real world?
🟢 Flashy startups.
7. How can understanding the difference between a coin and a token help you?
🟢 It helps you navigate the crypto space more effectively.
8. What is the benefit of understanding whether you’re dealing with a coin or a token?
🟢 It helps you make smarter investment choices
9. What is one risk of investing in tokens mentioned in the script?
🟢 Their value can fluctuate based on the platform they are built on.
10. What is a key feature of tokens?
🟢 They can serve specific functions within platforms or networks
11. Why can tokens be riskier than coins?
🟢 Their value can be tied to the success of the platform they're built on.
12. Which of the following is an example of a coin?
🟢 Bitcoin
