Coin Vs Token – What Is The Difference?
July 20, 2022 ⚊ 1 Min read ⚊ Views 103 ⚊ OTHER
Almost everyone has confused a token with a coin at some point in their cryptocurrency journey.
The fact is that coin and token are very much alike on a fundamental level. They both represent value and can process payments. You can also swap coins for tokens and vice versa.
Let’s go over some of the most significant difference between token and coin
What is Token
Tokens exist in a digital record on the blockchain. But tokens aren’t money, as money is typically understood. Instead, they represent things.
Often a digital token represents physical or intellectual property, such as a work of art, a piece of music or a book. The best-known example of this is the non-fungible token or NFT.
What is Coin
The definition of a digital coin is an asset that is native to its own blockchain. Think about Bitcoin, Litecoin, or Ether. Each of these coins exists on their own blockchain.
So, to make this a little clearer:
