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What is Fungibility?

Crypto Terms Glossary: What is Fungibility?

Fungibility is the attribute of being mutually interchangeable. Fungibility occurs when a good, asset, or units of an asset are indistinguishable from each other, and so can be interchanged with each other. For instance, one U.S. dollar is equivalent to any other U.S. dollar, and is therefore fungible. Fungibility makes an asset useful as a currency or payment method.

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