Fungible token

If not counting bitcoin, the first fungible (i.e. interchangeable) tokens were created on the Ethereum blockchain. They are identified as ERC-20, which represents the standard for decentralized application developers (dApps) building on Ethereum. They are simply tokens on the mainnet (the main layer of a given blockchain) that are interchangeable. Thus, they are not as unique as an irreplaceable non-fungible token (NFT). In the case of a fungible token, you are not the owner of a unique token.

Fungible vs. Non-Fungible Tokens

Even the most widely used cryptocurrencies such as BTC, ETH, ATOM, NEAR, etc., are all "fungible tokens". A fungible token means that a cryptocurrency of the same type has the same value at a given time. When you, for example, exchange USDT for BTC, whether you sell or buy, you always get the same amount of the other currency for a certain number of coins, depending on the current price on the market. A non-fungible token (NFT) is the complete opposite; each token is unique, may vary in value and there is no interchangeable copy of it on the mainnet.

PROs

• There are plenty of fungible tokens, you can choose from many coins and tokens on the market
• Fungible tokens can be held (long or short term), exchanged, or used for staking, lending, etc. in order to increase the amount of your tokens
• Divisibility - you don't have to own one whole coin

CONs

• Just as their price can rise, so it can fall
• You need to have a strategy, find out information about the token, diversify your portfolio, and carefully work to not fall victim to FOMO and FUD.
• They cannot be sold as something unique and their price is usually determined by the market.

We recommend selling or buying fungible tokens according to current market conditions.
If you want to use a decentralized exchange (DEX), you must first get some crypto (e.g. $BNB will be needed for transaction fees on the BSC network) from a centralized exchange (CEX) and send it in your crypto wallet, e.g. MetaMask.
On DEX I mostly swap fungible tokens for quick exchanges and their eventual sending / transfer to other chains from MetaMask wallet. Some fungible tokens can not be bought on CEX.

Conclusion

Fungible token refers to any tradable cryptocurrency. Two tokens of the same coin have the same market price at a given time, are interchangeable and divisible into smaller amounts.