What Is The Difference Between An NFT And Cryptocurrency?

Cryptocurrencies are a form of virtual or digital currency that is secured using cryptography. This means that they are incredibly secure and are near impossible to counterfeit or double-spend. 

NFTs, or Non-Fungible Tokens to give them their full name, are cryptographic assets held on a blockchain. Fungible, if you are not aware, is a word that originally derives from the Latin verb fungi meaning “to perform”. In modern parlance, though admittedly mainly in legal jargon, it tends to mean “interchangeable”. 

Each NFT comes with its own identification code and metadata that allows it to be uniquely identified from all other NFTs and, therefore, enables its ownership to be readily tracked and traced. 

NFTs and cryptocurrencies are as much alike as human beings and chimpanzees. While they share many similar characteristics, they are completely different species with common ancestry. In the case of NFTs and cryptocurrencies, that common ancestor is blockchain.