The difference between a coin and a token.

[The Mighty Frog 86]

On 1/26/2020 at 6:58 PM, Upright said:

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

coins are always their own founder and creator as they are very much independent and not like other tokens. Meanwhile the tokens are those coins which were created by some specific structure developed by coins.

[Malik7275620 12]

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.

Thanks for sharing this useful information with us and we are learning here on this forum and we are learning here on this forum. 

[liethAlsamoorix4 284]

Thank you I have always been wondering about these differences, but you explained it to us easily. I hope there will be more of these things

[Emmaxogi 33]

Tokens tends to pass on on " coins" but which are fashioned under a main structured, industrial coins. other like a fringe chained coin

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

 

[Sabnir 31]

Good, currently i've met come again? is that discrepancy in this a put together of for the reason that i'm certainly be acquainted with that that a number of are the constant considering that tokens may well be the clean available coin containing enormously inadequately repayment even if presented nonetheless the jiffy it gold coin mounting more than a few price, it's a number of coin soonest, recognition of this to be clear up people that it a join up of are not the unchanged together.
 

[jacker 1095]

Thanks for the post, actually tokens and coins are not the same. If you are a former person in the cryptocurrency market you will have no confusion. I see the token is less valuable than a coin, so I don't care about it much.

[kadayakito 765]

I used to be very confused because I didn't know where the token was or the coin. Thank you very much, a very brief but also very complete review. I find that the token is smaller and less valuable than coins.

[BTC Future 3946]

This is a good explanation of the fundamental differences behind coins and tokens.

 

I have to add that coins usually worth more, as they have something substancial behind them, their own blockchain that is supported by mining.

ERC20 and other forms of tokens, are just using the Ethereum blockchain, (or Tron,EOS, etc) and their whole value is most of the times a few lines of code, along with the time spent to create a website in the almost free .io domain and the whitepaper. Most of the times the cost to produce a token is no more than $200. So unless they offer something substancial (i.e. a whole gaming/social platform such as Decentraland) then they worth exactly this in total.

Coins are different as their value can depend on mining power involved. This power (hashrate) secures the network from malicious activities, although only a few blockchains can be considered extremely hard to be attacked.

Edited March 15, 2020 by BTC Future

[Zaino34 0]

Thank you my friend for this clarification I did not know the difference between these two types and I thought they refer to one term and I thought only that the symbol is created to exchange other currencies and its price is lower than the currency this is what I only knew

[Virgil dijk 1431]

Thanks for the information many will get to learn from it because even me when I was new to this forum I was really confused of the difference between coin and tokens but reading post about coins and tokens I got to know the difference.

[George10 9932]

Thanks for sharing this helpful infor I actually had no idea about it but after passing through your topic i have gained something on the different between a coin and token.

[Raven 7817]

As far as i know, coins are those currency that we are using which is bitcoin, litecoin, dogecoin, and etc. while token is dependable to the other blockchain technology which mean there is now such big different between in coins and tokens because coins can be also a token. Did you get my point?  Sorry i'm not good in english. 

[Rares002 262]

coin in the cryptocurrency sphere refers to the digital coins or cryptocurrency that has its acknowledge blockchain for case we have bitcoin, litecoin, doge coin, undulate and numerous more.

[Rahul11 292]

On 1/26/2020 at 8:52 PM, Mujeeb123 said:

The terms ‘coin’ and ‘token’ are often used alike. In practice, there are some differences… sort of.

One of the problems of such a new and cutting-edge sector, particularly one that arises from the grassroots, is that regulation tends to lag behind the technology. The same is true of language. Terms are created and evolve as they are needed, and there is not always clear agreement about what they mean.

Two terms used to describe units of blockchain value are COIN and TOKEN. Their meaning and usage overlaps considerably and they are often used interchangeably, but — strictly speaking, at least — there are some differences.

Function vs form

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

The express purpose of a coin is to act like money: as a unit of account, store of value and medium of transfer. Coins tend to take the form of native blockchain tokens like bitcoin (BTC), Litecoin (LTC), Monero (XMR), and so on, though they do not have to. ChronoBank’s Labour Hour (LH) tokens, which are hosted on Ethereum, can be considered as coins. Their purpose is solely to act as a form of money, storing value over time and enabling businesses to account and pay for services. They are created as ERC20 tokens for reasons of convenience.

I was aware of your post and found out about many rules. I learned a lot. Now it seems I will not be wrong to post. Thank you for your post.

[Amir Vao 341]

On 1/26/2020 at 7:42 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.

As I got experience about this I think coin has it's own Blockchain and wallets. And tokens are create under other Blockchain network and token use other wallets.

[Cammer 4609]

On 1/26/2020 at 3:42 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.

Thanks for sharing. So, the main difference is that a coin has its own Blockchain unlike a token. Thanks, I've never thought of that!

[Mohssine 1725]

For many time i ask this question but i never find the answer, but when i read your topic i know now the different between Token and coin, is a useful post thank you for this good information.

[bentayebsalah 2280]

Yes, in short, the currency has its own blockchain system and the token are currencies that do not have their own blockchain and belong to another blockchain like the ERC20 of the Ethereum blockchain

[MCSGlegend 2210]

Coins are usually made by developers on their own blockchain, and tokens are usually made on someone else's blockchain (ERC-20, TRC-20)

[Thekingcallme 1975]

coin It has its own system like the blockchain
A token is a currency of a system such as the Ethereum platform and is called the erc20

[Ch Ayyan 9781]

Coins and tokens both we can be called  crypto currencies.  But the main difference  between tokens and coins is coins has their own blockchain  but tokens use other blockchain. 

[Beast921 952]

Yep,there is lot of difference between the coins and the tokens.Both have their own significance.Coins have their own values like btc,ltc etc.In same way tokens are first listted in crime exchanges and then their values and prices are obtained.

[Wilmer Garcia 0]

Friend above I congratulate you for creating this topic and helping us the newcomers thank you very much for helping us solve this question 

[Dmasked 1840]

A coin and a token in crypto sense are similar but different to the fact that a crypto coin has its own blockchain like bitcoin, ethereum and tron. But a token doesnot have its own blockchain but rather is built on an existing blockchain of a coin that allows it. Ethereum and tron coins currently allow tokens to be built on its blockchain.

[BitcryptoHan 2557]

25 minutes ago, Sirlabo999 said:

I do not agree that all the token using other blockchain are referred to as a token simply because most of the fork coins are sharing another blockchain then we still refer them as coin and not token, example is bitcoin cash                                                                                                                                           

That is just it, they are called token, the real cryptocurrencies are the coins while those that forked from the original are called tokens. Tokens are forks.