The difference between a coin and a token.

[Mandoy01 1196]

Hi guys, this topic is made for the newbie. I remembered before I was also confused about token and coin. So I will explain it in the most simplest form I can think of. Though there are many things that can be used to differentiate but I will use the most crucial difference between them.

 

First what is a coin?

A coin in the cryptocurrency sphere refers to the digital coins or cryptocurrency that has its own blockchain for example we have bitcoin, litecoin, doge coin, ripple and many more.

 

What is a token?

A token is a form of cryptocurrency which does not have its own blockchain. It uses existing blockchain as its platform for example we have ERC-20 tokens that uses Ethereum Platform such as EXMR, BTCRED and many more. Aside from Ethereum Platform other tokens uses Waves Dex, and NEO whose tokens are called NEP-5 tokens.

 

So in short there are two kinds of cryptocurrency the coin and token. Coin are digital coins with its own blockchain while tokens uses existing blockchain platform to function.

[Upright 2688]

Tokens tends to refer on " coins" but which are created under a main structured, developed coins. More like a side chained coin

Coins are like independent coin on their own based foundation, by themselves

[Benjamin 84]

Well, now i know what is the difference of this two because im literally know that this two are the same because the tokens are the new released coin that has no value yet in the market but once this coin having some value, it will be a coin soonest, thanks for this to be enlighten me that this two are different to each other.

[Satishmolankar 1703]

Yes this is right but there are two types of crypto currency the token also taken place in the crypto currency but it take time to come from token to coins so there is only one type of crypto currency 

[Ahmedabdallah12 169]

You are right bro , every coin was a token one day , but not every token will be a coin 

[Sourav43 106]

30 minutes ago, Mandoy01 said:

Hi guys, this topic is made for the newbie. I remembered before I was also confused about token and coin. So I will explain it in the most simplest form I can think of. Though there are many things that can be used to differentiate but I will use the most crucial difference between them.

 

First what is a coin?

A coin in the cryptocurrency sphere refers to the digital coins or cryptocurrency that has its own blockchain for example we have bitcoin, litecoin, doge coin, ripple and many more.

 

What is a token?

A token is a form of cryptocurrency which does not have its own blockchain. It uses existing blockchain as its platform for example we have ERC-20 tokens that uses Ethereum Platform such as EXMR, BTCRED and many more. Aside from Ethereum Platform other tokens uses Waves Dex, and NEO whose tokens are called NEP-5 tokens.

 

So in short there are two kinds of cryptocurrency the coin and token. Coin are digital coins with its own blockchain while tokens uses existing blockchain platform to function.

Your information is very useful and useful. I will use your information. Thank you so much for sharing this information with us.

[bean 515]

The difference between coin and token is, coins are cryptocurrency that have is own blockchain called main net and token are cryptocurrency that exist on blockchain that are not their own they don't have a main net, Ethereum network and others serve as a host of tokens.

[pakjobhelp 1585]

Yes i agree with you and thanks for posting more fruitful knowledge post. More crypto trader did not have idea that what is the major difference crypto coins and crypto token. But solve this difference easily i like your post:

I remembers that crypto coins has own block-chain, and crypto token work other blockchains.

[Upright 2688]

4 minutes ago, Mehedi55 said:

I'm new here I have no idea about me If I have the right idea then I must let you know. The differen Between coin &  token i Don't kno.   

Mate, it's not about being new, its just about your own feedback on what you see on difference on both coins and tokens.

Example of a coin, is bitcoin

And a token is, Cnns

[Sapdrx 469]

8 minutes ago, Refayet ullah said:

Coins are just method of payment while tokens may present a company's share, give access to product or service and perform many other functions. Coins are currencies that can be used for buying and selling things. You can buy a token with a coin, but not vice versa.

Coins are not neccesarily currencies. Cuurencies are usually issued and controlled by governments. And crypto are not currencies according to the US government.

[Dmasked 1840]

The only prominent difference between a token and a coin is that a coin like ethereum has its own blockchain but the tokens like erc20 donot have their own blockchain and operate on ethereum platform.

[Nakamoto 279]

1 hour ago, Alejandro01x said:

I need to note that the tokens depend on the ETH, to be able to make transactions (to use it as a fee), and a series of recommendations, such as the safest wallets for example, greetings.

Not all tokens are built on the Ethereum platform. There are still other platforms like NEO or NEM. All tokens require gas using the initial coin.

 

[khaler 1549]

I don’t know the comparison between them, but what I know is that coin is the cryptocurrency or the cryptocurrency that we use on the platforms, but the token I think is what the drops offer after several things that are required

[Ummita 303]

That's really thoughtful of you to share such the difference between coins and token. We use coins in buying and selling of various things where we can't use token in the same sense.

[Ali abbas 15]

a crypto coin is just that a coin or means of payment whilst a token has wider functionality.

 

[Sohel Rana 406]

2 hours ago, Mandoy01 said:

Hi guys, this topic is made for the newbie. I remembered before I was also confused about token and coin. So I will explain it in the most simplest form I can think of. Though there are many things that can be used to differentiate but I will use the most crucial difference between them.

 

First what is a coin?

A coin in the cryptocurrency sphere refers to the digital coins or cryptocurrency that has its own blockchain for example we have bitcoin, litecoin, doge coin, ripple and many more.

 

What is a token?

A token is a form of cryptocurrency which does not have its own blockchain. It uses existing blockchain as its platform for example we have ERC-20 tokens that uses Ethereum Platform such as EXMR, BTCRED and many more. Aside from Ethereum Platform other tokens uses Waves Dex, and NEO whose tokens are called NEP-5 tokens.

 

So in short there are two kinds of cryptocurrency the coin and token. Coin are digital coins with its own blockchain while tokens uses existing blockchain platform to function.

About 4 years i am in crypto market  but honestly before read your post I don’t know about token and coins different. Now I understand about coin and tokens different. Now many people’s know about token and coin thanks for share this.         

[Ridam 7455]

2 hours ago, Mandoy01 said:

Hi guys, this topic is made for the newbie. I remembered before I was also confused about token and coin. So I will explain it in the most simplest form I can think of. Though there are many things that can be used to differentiate but I will use the most crucial difference between them.

 

First what is a coin?

A coin in the cryptocurrency sphere refers to the digital coins or cryptocurrency that has its own blockchain for example we have bitcoin, litecoin, doge coin, ripple and many more.

 

What is a token?

A token is a form of cryptocurrency which does not have its own blockchain. It uses existing blockchain as its platform for example we have ERC-20 tokens that uses Ethereum Platform such as EXMR, BTCRED and many more. Aside from Ethereum Platform other tokens uses Waves Dex, and NEO whose tokens are called NEP-5 tokens.

 

So in short there are two kinds of cryptocurrency the coin and token. Coin are digital coins with its own blockchain while tokens uses existing blockchain platform to function.

Thank you bro  you really explained it in easy way like you i also used to be confused some years before when i was completely noob in Crypto world. If i had people like you i would be glad at that time

[Ali abbas 15]

1 minute ago, Ali abbas said:

a crypto coin is just that a coin or means of payment whilst a token has wider functionality.

 

Coins are standalone cryptocurrencies based on their own blockchain Tokens are built and hosted on existing blockchains

[Akasshh 234]

Coins are currencies that can be used for buying and selling things.You can buy token with a coin but not vice versa.Coins are just method of payments while token may present a companys share,give access to products or services  and perform many other functions.Crypto tokens are special kind of virtual currency tokens that reside on their own blockchain and represent an asset or utility.

[Ali abbas 15]

Coin is something that is necesary for buy something and token is a permission slip to do something.

 

You can buy something even token with coin that is currency and token is something that give u permission to do something

Alternative cryptocurrencies or digital coins are also called as altcoins or simply “coins” They’re often used interchangeably. Altcoins simply refers to coins that are an alternative to Bitcoin or Ethereum like digital currencies.    Tokens are a representation of a particular asset or utility, that usually resides on top of another blockchain Tokens can represent basically any assets that are fungible and tradeable from commodities to loyalty points to even other cryptocurrencies

[Nurul Huda 944]

2 hours ago, Panju19 said:

I am new here and I don't have much knowledge about this forum and I am getting knowledge about this forum by reading topics on internet.

Take it easy, friend, soon you will get knowledge and experience from this forum because by reading the topic you can think to be the best in this forum, so to get an advantage it's easier to do it.

[Ali abbas 15]

3 minutes ago, Ali abbas said:

Coin is something that is necesary for buy something and token is a permission slip to do something.

 

You can buy something even token with coin that is currency and token is something that give u permission to do something

Alternative cryptocurrencies or digital coins are also called as altcoins or simply “coins” They’re often used interchangeably. Altcoins simply refers to coins that are an alternative to Bitcoin or Ethereum like digital currencies.    Tokens are a representation of a particular asset or utility, that usually resides on top of another blockchain Tokens can represent basically any assets that are fungible and tradeable from commodities to loyalty points to even other cryptocurrencies

 

[MohammadMohsin 569]

Thanks for sharing these useful informations with us. And now I understood the main difference between coin and tokens. 

[ETheHedgehog 3104]

I didn't realize that there was a difference between a token and a crypto coin, i just thought that it was different naming

[pkrs 603]

Tokens are intitial coins offering  (ICO)  it is a asset given to the public during the launch by companies as a part of giveaway. But coins are Cryptocurrencies which are used for buying and selling things.