knowledge What is the difference between a token and a coin?

[CryptoLegendry 505]

What is the difference between a token and a coin?

What is a token?

A digital asset that can be used within the ecosystem of a specific project.
The main difference between token and currencies is that the former requires another blockchain platform to operate. Ethereum is the most popular platform for creating tokens, mostly due to the smart contracts feature.

The token created on the Ethereum blockchain is usually known as ERC-20 tokens - like most of the industry's popular stablecoin rope (USDT), for example. There are, of course, other token platforms, such as NEO or Waves.

The purpose of a token also differs from coins, although it can also be used as a form of payment.

Several tokens are created for use in DApps and their networks. Its main goal is to give the owner access to project functionality - as is the case with the Basic Attention Token (BAT).
Examples for tokens: TALK , UNI , Aave 

 

What is a Crypto coin ?
 

Bitcoin (BTC), Monero (XMR), and Ether (ETH) are examples of cryptocurrencies. And all of them are in their standalone ledgers. Where BTC operates on the original Bitcoin blockchain, ETH is used inside the Ethereum blockchain, XMR is on the Monero blockchain, etc. They can also be sent, received, or mined all of them.

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According to its name, the cryptocurrency has the same features as money, it is exchangeable, divisible, transferable, and has limited supply. Hence, cryptocurrencies are usually meant to be used just like physical cash. That is, payable for things (although adoption of hash has been slow). While Ether has all the attributes of a coin, it operates outside of its "money" role, as it is used inside the Ethereum blockchain to facilitate transactions.

[CryptoLegendry 505]

14 hours ago, derxut said:

It is a good way of looking at it. Come like this, information should be given to new ones who understand from the beginning these essential concepts in the field well done friend +2 for you. good luck. Do not forget to react to this comment if it helps you.

Many friends here do not even know the difference between digital currency and cryptocurrency! So we must help them by spreading knowledge here! The problem is that people consider that such information is unnecessary and will not help them in making money! It may be true, but since we are working on the cryptocurrency project, I think that we must know the basics of the project as a minimum!

[Zrnabaly 179]

Thanks dear for such information. Your this post is very useful for others members who are newbie on this forum.

People get benefit information from this post.

Thanks.

[Manir 1181]

Very nice discribtions my friend,  now begginers will be able to differenciate between this two things.  It's our duty to be helping the begginers in this forum.  Thanks buddy. 

[scorpiali 5626]

Thanks for the information it's really helpful and all users should know that specially the new users in crypto currency because there is a big difference between them token is under another coins blockchain and the coins have his own blockchain independently 

[CryptoLegendry 505]

3 hours ago, Mijan9999 said:

Crypto currency is a very valuable currency in the present world. I make income by investing in different sites. 2020 start with the price of BTC, LTC, ETH etc. I think more will happen in the future. Many people around the world operate on crypto

Yes, with regard to investment, as all investment confirmation within the cryptocurrency coin projects is much better than investing in tokens! Because the coins for the cryptocurrency project are definitely safer!
But there are also good tokens for investing, such as the currencies of the UNISWAP platform. I think they are very good for making a good profit from investing these tokens.

[Tallest 376]

13 hours ago, CryptoLegendry said:

But there are also good tokens for investing, such as the currencies of the UNISWAP platform. I think they are very good for making a good profit from investing these tokens

Yes of course but the only thing here is that one has to be patient enough before they can be able to gain some profit from those tokens which is why many people prefer investing on top coins mostly because they have good potential in cryptocurrency market.

[Linaa2999 1645]

We must educate about the field in which we work because this gives us an advantage over the rest of the members and it is important to work on building a knowledge base in the field of cryptocurrencies and from this publication I have benefited a lot. I invite everyone to read it.

[CryptoLegendry 505]

11 hours ago, Tallest said:

Yes of course but the only thing here is that one has to be patient enough before they can be able to gain some profit from those tokens which is why many people prefer investing on top coins mostly because they have good potential in cryptocurrency market.

The patient man is the one who will win in the end! And the prize for the patient will be big! I remember when the forum token was launched, everyone was happy! Because they were patient and got what they deserve! They all believed that this opportunity would not be repeated! So they worked hard and made very good profits!

[Tallest 376]

On 3/24/2021 at 8:59 PM, CryptoLegendry said:

The patient man is the one who will win in the end! And the prize for the patient will be big! I remember when the forum token was launched, everyone was happy! Because they were patient and got what they deserve! They all believed that this opportunity would not be repeated! So they worked hard and made very good profits!

Well investment itself is all about risk taking and I also believe investing in this talkcoin will be good because the forum is still running normal which means there is tendency for the price to make use anytime especially when bitcoin price decreases.

[Erika2003 517]

Friend, thank you for giving us this information about the difference between a token and a coin, now thanks to you I already have the information on the difference between one and the other and it is all thanks to you and the subject you have done.

[Alex Babu 343]

Thanks for sharing information on talk tokens and cryptocurrency coins with other members of this forum. I and other members must have grown up.

[Luciferlucky 0]

In fact, my friend, I thank you for your time that you have provided in writing this post .. It is good to know the difference between digital currency and cryptocurrency .. In fact, the knowledge that I acquired in this forum is very wonderful and I am still gaining knowledge on every topic I read .. I wish you and everyone Success

[Ramossss 963]

What a good post full of useful information, especially for new members of the forum who do not know the difference between cryptocurrencies and tokens and since they use cryptocurrencies for investment and also to transfer money from one place to another. As for the token, it is linked to the platform or website and has the right to access the functions of its own project

[Mohsinrafiq169 210]

There is a big difference between the two Tokens are what you post and you get paid for them When are the ones you buy yourself and start trading.

[Amelia1971 1338]

Your publication is very good since many beginners we confuse coins with tokens but with contributions like yours and our own investigations later we left the doubts since there is a lot of information that must be collected when one is new and it takes us a little time to be able to do it but There are always people or rather members who have experience and make the way easier for us, thank you very much.

[Jasmin123 698]

On 3/21/2021 at 2:55 PM, CryptoLegendry said:

What is the difference between a token and a coin?

What is a token?

A digital asset that can be used within the ecosystem of a specific project.
The main difference between token and currencies is that the former requires another blockchain platform to operate. Ethereum is the most popular platform for creating tokens, mostly due to the smart contracts feature.

The token created on the Ethereum blockchain is usually known as ERC-20 tokens - like most of the industry's popular stablecoin rope (USDT), for example. There are, of course, other token platforms, such as NEO or Waves.

The purpose of a token also differs from coins, although it can also be used as a form of payment.

Several tokens are created for use in DApps and their networks. Its main goal is to give the owner access to project functionality - as is the case with the Basic Attention Token (BAT).
Examples for tokens: TALK , UNI , Aave 

 

What is a Crypto coin ?
 

Bitcoin (BTC), Monero (XMR), and Ether (ETH) are examples of cryptocurrencies. And all of them are in their standalone ledgers. Where BTC operates on the original Bitcoin blockchain, ETH is used inside the Ethereum blockchain, XMR is on the Monero blockchain, etc. They can also be sent, received, or mined all of them.

Scalpex is the fastest future trading platform
According to its name, the cryptocurrency has the same features as money, it is exchangeable, divisible, transferable, and has limited supply. Hence, cryptocurrencies are usually meant to be used just like physical cash. That is, payable for things (although adoption of hash has been slow). While Ether has all the attributes of a coin, it operates outside of its "money" role, as it is used inside the Ethereum blockchain to facilitate transactions.

Thank you dear friend for giving this useful information and actually before reading your post I have this confuaion  and I think that both are cryptocurrencies and are same but after reading your post I have come to know the main difference between the token and  coins and that's why I am again thankful to you.

[Jasmin123 698]

Dear friend their are lot of people that are telling about what is the difference between tokens and coins and I actually very confused because I think both are cryptocurrencies and both are digital currencies and coins are valuable then tokens give me information about it.

[isbella 267]

oh thanks dear for sharing this information with us and thank you for this description because i do not know what the actual difference between coin and toke but after reading your description i am able to know about that the token requires another blockchain platform to operate is the main difference between coin and token so thanks dear for your post

[Nnnbht 502]

A cryptocurrency has its own blockchain such as Bitcoin, Ethereum, and Neo while a token is a currency based on a special blockchain for another currency such as talk and obee.

[Simon London 1749]

Hello everyone, friend thanks for sharing this kind of knowledge, I'm sure it will be useful to many forum members, these are concepts that we must know and be clear, when entering to work with the subject of cryptos.