NFT vs Cryptocurrency: Key Differences & Which One to Choose

Are you confused about NFT vs Cryptocurrency? Since NFTs and Cryptocurrency are similar to each other. That’s why most people are confused about these two terms.


Read – How to Mint The Association NFT – Step-by-Step Guide


Key Differences: NFT Vs Cryptocurrency

This post will answer all your doubts and give you the best direction so you can smartly invest your money. 

Before learning about the significant Difference between NFTs and Cryptocurrency, let’s discover some fundamental differences. 


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What are NFTs?

NFTs are the evolution of cryptocurrencies.


Read – What is Lazy Minting? A Complete Guide to Gasless NFT Creation


Here are some famous NFT collections.

  1. CryptoPunks
  2. Bored Ape Yacht Club
  3. Mutant Ape Yacht Club
  4. Axie Infinity
  5. Cool Cats
  6. Decentraland
  7. Meebits
  8. Upland

Cryptocurrency 

Cryptocurrencies are digital currencies or virtual currencies that use the concept of blockchain technology.

The most popular example of Cryptocurrency in the market is “Bitcoin.” Here’s the list of cryptocurrencies with their total market value. 

Cryptos Total Market Value

Bitcoin $826 billion

Ethereum $ 390 billion

Binance Coin $ 79.5 billion

Cardano $ 66.3 billion

Dogecoin $ 63.4 billion

Tether $ 58.2 billion

XRP $ 51.8 billion

Polkadot $ 30.5 billion

Internet Computer $ 25.6 billion

Bitcoin Cash $ 20.1billion

Cryptocurrency Benefits

  1. Trustless: A decentralized and immutable record helps build trust between business partners and users.
  2. Universal Banking: Two billion people worldwide without access to the banking system.

Key Difference B/W NFT and Cryptocurrency

Features NFTs Cryptos

Token type Non-fungible Fungible

Security High High

Marketplace Digital artwork Currency

Infrastructure Decentralized Decentralized and Distributed

How are NFT different from cryptocurrency?

The technology and the same principles remain the same. Generally, you should have the needed Cryptocurrency to buy and sell NFT assets. 

However, the key Difference is the indication of the name itself.

Similar to other currencies, it has some intrinsic economic value. Consequently, NFTs are non-fungible, and their value goes far beyond economies. 

How are NFT Vs Cryptocurrency Similar?

NFTs and Cryptocurrency look similar, but they have different usages. NFTs use the Ethereum cryptocurrency for a secure marketplace across the world. Thus, it is considered the most secure way of trading your artwork. 

However, if you are an artist and want to sell your artwork on the blockchain platform, NFTs are an excellent choice for you. It allows the investors to mint your artwork in the NFT marketplace, where buyers worldwide can purchase it in Cryptos. Thus, it provides you with all the benefits of Cryptocurrency. Also, you can convert your earned cryptos into USD on the available crypto exchange platforms like WazirX and CoinDCX. 

Wrapping Up

In this post, we have covered all the similarities and the key differences between NFTs and Cryptocurrency.

NFTs use cryptocurrency technology to provide the best marketplace for artists to sell their art. 

Features NFTs Cryptos

Token type Non-fungible Fungible

Security High High

Marketplace Digital artwork Currency

Infrastructure Decentralized Decentralized and Distributed

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