Crypto Coin Versus Token: 5 Key Differences
Cryptocurrency is still new and everyone is rushing to leverage its promising benefits, people often mix up terms used to define the different digital assets.
An example of this is how the terms crypto coin and tokens are used interchangeably.
Key Differences Between Crypto Coins And Tokens
Crypto Tokens Don’t Have A Blockchain Network
Every crypto coin has its blockchain network while tokens don’t have their blockchain network.
2. Coins Represent A Medium Of Trade While Tokens Represent
A crypto coin is used as a medium of exchange. Tokens are used to show the value of what you as an owner hold.
When a token is used, the change of ownership happens physically. However, there isn’t any movement when it comes to crypto coins.
Crypto coins are used primarily as a payment mode for goods and services. Tokens, meanwhile, have a handful of uses.
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