The difference between a coin and a token.

[Ryken8 545]

 

On 1/26/2020 at 9:42 PM, 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 for the reminder, though I knew this difference I still interchange the term coin and token every now and then. So hopefully I will not mix up the 2 from now on.

Edited October 27, 2020 by Ryken8

[Arpit Gupta 581]

Thanks mate. I understood the difference between coin and token that coin has its own blockchain but token does not have its own blockchain. Tokens are new coins that are not much popular but coins are somewhat popular. I have got it well.

[Emma William 2399]

• Digital and cryptocurrency (coin)

The digital currency or (coin) is a digital currency that has its own blockchain and works without the need to enter any platform to control it, and among the most famous currencies that fall and use this method are Bitcoin, Bitcoin Cash and Ethereum.

• Token

They are digital currencies that do not have a blockchain of their own and are usually built on an existing blockchain such as the Ethereum blockchain and tokens are issued that are compatible with ERC20, for example. It has to be managed by a connected platform with PundiX and SelfKey.

[VijithaVarghese 1994]

Thank you so much for this. It really helped me know the difference between coin and token. By reading this a lot of people can decide which one to be used on at what situation. Sometimes we don't know how the market conditions are varying. Great information my friend.

[Enola Holms 0]

I never knew that there are too many blockchains that offer the token transfer, now bnb has also started giving the services too to make and share the coins like that.

[twinkle 0]

as per my knowledge and experience i can say that, the tokens are those things which is created but not trading able and there is no value in market. coin is that thing which has value in market and can be trade with it.. when token arive and after doing its all process, it reform in coin..

[Sayyam khan 608]

Thanks for this information i was unaware from this now have awareness about this because i am new in cryptotalk so this post is very useful for me..

[Russel 017 506]

Coins are cryptocurrency which have own blockchain called main net.Token is also cryptocurrency but it has no main net.This is the difference between two items

[Mir Hamza 2888]

Many new members are very much confusion about the difference between coins and tockens. Actually both coin and tokens are the kind cryptocurrency. If we talk about coin it is a kind of a cryptocurrency which have their own blockchain and their function.

On the other hand if talk about token it is a kind of a cryptocurrency which do not have their own blockchain. There are many coins like bitcoin, altcoin etc. There are many tokens also. That is the basic difference between the coin and token. 

[Reyba 175]

This post was really usefull for me, I was curious about what a token is and if by getting them with the new cryptotalk campaign that started Yobit I would get something reflected on any currency, and now I understand what is the difference and how can I work that campaign, thank you very much for making it clear for everyone. 

[Michaelx018 0]

Such an informative post that well explains the differences between coins and tokens. From this post I have learnt that coins are backed by new blockchains whereas tokens are backed by existing blockchains that helps them to perform and function. Thank you for sharing such informative topics. Looking forward to more such topics.

[Edwin john 649]

Thank you for this information. You defined the difference between coin and token in simple words.i had this doubt when i started in this forum, i think it could be great use to newcomers. 

[Artugul78 91]

Very good and essential topic..  Coin and token both also crypto money..both are use all people.. There are many coin like bitcoin, altcoin etc..... I think both are very good currency for us..   

[Gorge 510]

On 1/26/2020 at 6:42 PM, 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.

Dear friend! You ask very good question and i am agree with your response . We all know that coin is the digital cryptocurrency and it has its own blockchain for transaction or exchanges. But token haven't its own blockchain for the data sharing or transaction.

[ramonn22 731]

Thank you very much dear colleagues of this great forum thanks to the response provided by many of you it is clear to me what differences there are between coin and token
Good luck and big profits for the whole community
A big greeting

[Abdalrazig 1865]

Coins are any cryptocurrency that has a standalone independant blockchain (Bitcoin, Ethereum, XRP, …)
Tokens are cryptocurrencies that do not have their own blockchain but live on another blockchain. As they live on another blockchain, they benefit from its technology. (ERC-20 tokens…)

[Irungu 4299]

The truth is we need to work and put up the greatest work we need to really be sure that we are able to balance everything in the right perspective we need to follow and be good in what we are doing, so we need to really be good in identifying the two, the truth is we need to work as hard nad coins works we anc created, and the truth is when you  look at tokens they use the etherium network and this is one of the greatest thing we have together

[Bond07 166]

Yes we need to have a clear concept about tokens and coins. Coins has their own blockchain and token runs under them. So i will say coins the mother of tokens haha

[velasco19 1753]

It is a great clarification for many users, as you say a coin has its own Blockchain network, instead a token must use a network to function and are created for a specific use in an ecosystem.

[jackycrypto485 1055]

Thank you for this good explanation, it is true that the main difference between coins and tokens is that a coin has its own blockchain, and a token is based on one blockchain of coins such as Ethereum, BNB, or Tron TRX.

[komtak 584]

easily is a token is a coin that uses different platform infrastructure such as erc20 ethereum or waves, then if a coin is the use of its own platform for instance bitcoin.

[Sarahden111 1231]

Bitcoin is considered a currency and Ethereum as well, as they both have their own blockchain network and the transfer is done through it and can host other currencies called tokens and this token may not have a transfer blockchain, so it may be allocated for trading on the platform only.

[Paul Zero 120]

Tokens are a currency derivative, meaning that they are based on a currency, for example, ethereum is a currency that includes erc20 tokens in its blockchain.

[Johermi 1170]

Thanks for sharing this post it is very useful for people who are starting in the world of Cryptocurrencies for me it was very useful I did not know how to differentiate between a coin and a token now, thanks to your post

[Noghran 0]

thank you my friend.
Unfortunately, I did not fully understand.
Does this mean that coins are better than token?
Because the token does not have its own blockchain
And how can this make a difference in terms of exchange?
please explain!