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Kathryn Mitchell
Kathryn Mitchell

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NFT’s vs Cryptocurrencies

Everyone has heard about the notion of cryptocurrencies and non-fungible tokens in recent years. There isn’t a single individual who has not heard about this technological innovation. The popularity of this digital segment is soaring off the charts. Each and every individual who has access to the internet is fascinated by cryptocurrencies and non-fungible tokens. But, what exactly are these incredible digital innovations, and how are they related to each other? We shall dive into the extreme depth of these concepts and get a comprehensive idea of them.

What Is Cryptocurrency?

Cryptocurrencies are digital currencies that are used for the transaction of goods and services online. These virtual currencies are developed on the power of blockchain. Cryptocurrencies are fungible digital assets, meaning, they can be interchanged with any virtual currency that holds an equivalent value and they are available at an unlimited supply at disposal as well.

Bitcoin, Ethereum, Ripple, Litecoin, Stellar, Bitcoin Cash, Cardano, etc, are the most popular cryptocurrencies in the digital market. At the present time, cryptocurrencies are termed “ The Cash Of Internet”. It has evolved to a point where it is now a seamless investment opportunity for individuals and businesses that are looking to expand their market value and experience high revenue and profits.

Features Of Cryptocurrency


Cryptocurrencies are available only in the digital form, thus, they can be accessed from any digital platform that is connected to the internet. The most common types of digital platforms are web and mobile.

Decentralized Ecosystem

The cryptocurrencies operate in the decentralized ecosystem, thus, the involvement of government authorities and other middlemen are removed. Hence, the transactions are secured and it acts as a direct link between the two involved parties.

Power Of Blockchain

The transactions that are done with cryptocurrencies are permanently stored on a seamless digital ledger called the blockchain. This blockchain technology prevents cyberattacks and replication or manipulation of data.


The identity of the users who execute transactions is not revealed and it is concealed securely in the blockchain. Thus, it provides anonymity to users.

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Non-Fungible Tokens- A Quick Walkthrough

Non-fungible tokens are a type of digital segment that is new to the blockchain world. It has been around the blockchain media for quite some time and just recently, they gained immense popularity, where all the credits go to celebrities, tech giants, and social media influencers for promoting NFTs. Non-fungible tokens are digital assets that cannot be replicated or destroyed. This digital platform is non-fungible, it cannot be interchanged with digital assets that possess the same value, each and every NFT is unique and scarce. The most common types of non-fungible tokens are image files, video clips, digital artwork, trading cards, domain names, etc.

Features Of Non-Fungible Tokens


Non-fungible tokens operate in a decentralized ecosystem, thus, it eliminates the intervention of central authorities and other middlemen.


The NFT developers program the tokens in a way to generate only a specific volume of NFTs to the market. By using this method, the market value of the non-fungible tokens is increased.

Authentication Of Ownership

NFTs are built on blockchain technology, which provides authentication of ownership to the buyers of the digital assets.

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Crypto and NFTs have been a fiery debate for quite some time. The main differences that highlight these platforms are their impressive unique features and beneficial values that they have in store for the future of digital domains.

Cryptocurrencies are fungible, they can be exchanged with any type of currency format, they can be in digital and fiat. The exchange ranges widely, from USD to crypto and crypto to crypto, it all depends on the value of these digital compounds. On the other hand, NFTs are completely opposite to cryptocurrencies in some aspects, like the nature of the asset, NFTs are unique and cannot be exchanged with the same NFT irrespective of the value they possess.

These are the primary differences between them, other than these differences, it functions the same. Both are developed in blockchain technology and operate in a decentralized manner. The cryptocurrency primarily functions as a mode of payment for online transactions and NFTs are more of a digital collectible type of trading, since everything is unique and rare in the NFT domain.


Keeping aside the difference between these two impressive digital platforms, the end result is to generate high-level revenue and profits for the users. These two platforms have changed the entire outlook of the businesses that are focusing on digital segments. But without the meteoric growth and expansion of cryptocurrencies, there would not have been non-fungible tokens. One cannot strive without the other as both are equally important due to their impressive features and functionalities. In the near future, it is expected that NFTs and cryptocurrencies will take over the digital world and furnish businesses with great revenue opportunities.

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