The difference between a Coin and a Token

[hani20980]

Most of peoples think that coins and tokens are the same but there is a big defference between a coin and a token
Anyone can developp a Token by using the BTC or ETH code source it will cost you less then 1$ to create your
own Token but to create a Coin you need to developp your own Blockchain and and it will cost you a lot of money
also you will need to create a wallet for your coin that's why most of peoples prefer to create a Token

 

[Peterlight]

Sure that's a good way to differentiate between token and coin...I also thought they were the same but thanks for the update

 

[Niftyyem]

Thank you for the enlightenment. I understand the difference between the two better now.

 

[Josemendez]

Yeah. That's just the difference , however you still need strategy to make you token soar high less it will be useless

 

[Nida Adnan]

token is that a coin has its own blockchain, while a token doesn't. Another thing to note is that coins usually are used for 1 thing (payments), while tokens have various use cases, which can include payments but also other things.

 

[zagzagi]

Coin is a virtual currency that has its own block chain, ie Blockchain. Token, on the other hand, is a virtual asset that does not have its own blockchain and is transacted without the need for a blockchain. Blockchain is a distributed database system that provides encrypted transaction tracking. Blockchain technology is an extremely secure system. This system is the most important technology behind cryptocurrencies.

 

[Lagazine]

Really? My belief is that coin and token ars the same. I even believe that token develop to coin, which means a certain amount of token will become a coin. I've now seen the difference between both. Thanks for the enlightenment.

 

[Kinglegend01]

Wow thanks for the enlighten, I didn't know there was a difference between a coin and a token,I solway thought they meant the same thing. And you said anybody can own a token and how cheap it would cost you to.

 

[Adegbindin Abdullahi]

A coin has its own blockchain, while a token doesn’t. Another thing to note is that coins usually are used for 1 thing (payments), while token have various use, which can include payments but other things

 

[giddy]

token is that a coin has its own blockchain, while a token doesn't. Another thing to note is that coinsusually are used for 1 thing (payments), while tokens have various use cases, which can include payments but also other things

 

[Sehrish]

Coins refer to any cryptocurrencyThese cryptocurrencies are bootstrapped from scratch, and the broader network is designed explicitly to achieve a certain goal.
Tokens are a unique outlay of broader smart contracts platforms like Ethereum that enable users to create, issue, and manage tokens that are

 

[GoldenLady]

Most of peoples think that coins and tokens are the same but there is a big defference between a coin and a token
Anyone can developp a Token by using the BTC or ETH code source it will cost you less then 1$ to create your
own Token but to create a Coin you need to developp your own Blockchain and and it will cost you a lot of money
also you will need to create a wallet for your coin that's why most of peoples prefer to create a Token

I always thought a token was the same as coins. This means that new coins are more valuable than tokens.

Is the source code for Bitcoin free? And what is the profit one can expect from both a coin and a token?

 

[Ltherman]

Explicit differentiation i have actually confirmed what i thought i known for a while now. Thanks to the author of this thread it has stuck in my memory.

 

[Nicklas22]

token is that a coin has its own blockchain, while a token doesn't. Another thing to note is that coins usually are used for 1 thing (payments), while tokens have various use cases, which can include payments but also other things

 

[haider00]

Most of peoples think that coins and tokens are the same but there is a big defference between a coin and a token
Anyone can developp a Token by using the BTC or ETH code source it will cost you less then 1$ to create your
own Token but to create a Coin you need to developp your own Blockchain and and it will cost you a lot of money
also you will need to create a wallet for your coin that's why most of peoples prefer to create a Token

Sometimes people use the term coin to refer to what other people call “tokens”, and token to refer to what others call 'coins'. Some people will use these name to refer to all the digital assets which are currently available.

 

[Chumzy]

Tokens are like coins but they don't have their own block chains.
A coin has a blockchain or can run on another blockchain.
Most coins sell out tokens first, before they go life, those tokens can eventually be converted to coins.

 

[Seun4luv]

A coin has its own blockchain, while a token doesn't. Another thing to note is that coin usually are used for 1 thing (payments), while tokens have various use cases, which can include payments but also other things.

 

[Ralphjoe]

This is an educative piece, I am among those people that thought that coins and tokens are the same. Infact I can argue it with anyone but with the way you said it, I think you are very right. Thanks for sharing.

 

[BrolySSJ]

Most of peoples think that coins and tokens are the same but there is a big defference between a coin and a token
Anyone can developp a Token by using the BTC or ETH code source it will cost you less then 1$ to create your
own Token but to create a Coin you need to developp your own Blockchain and and it will cost you a lot of money
also you will need to create a wallet for your coin that's why most of peoples prefer to create a Token

I was unaware of this difference and i think that it is a small detail that we often overlook when it comes to learning about these coins and how they are different from tokens and also how they are different from digital currencies as a whole.

 

[Nurudeen]

I really don't know much about a token. Even right before seeing this post I thought crypto currency and token are the same thing but I will make more research about it