WHAT IS THE DIFFERENCE BETWEEN CRYPTOCURRENCY TOKENS AND COINS??

HELLO UPTRENNDIANS


we always hear the term tokens and coins in digital currency. many people think that there is no difference in between but coins and  tokens refers to the different category of​​​ digital  currency. they both are the units of blockchain.


COINS


cryptocurrency coins refers to an asset that has its own blockchain like bitcoin, ethereum, litecoin,bitcoin cash, ripple, Dash, monero, NEO and cardano etc. people pay these coins for goods and services. for trading and store as investment.


ethereum coin use fuel for transactions on ethereum network. but when you send ERC20 token you must need of ethereum for gas fee.


TOKENS


Tokens created on blockchain and the most common platform is the ethereum. those tokens which created on ethereum platform known as ERC-20 TOKENS. same as tokens build on NEW known as NEP-5. tokens are more easy to create than coins because coins require their own blockchain. crypt currency tokens store in wallets and can  be exchange using private or public keys.


THANKS FOR READING 

COMMENT

19

Athar Saleem
18 Oct

An insightful post again......well done.✔   Simply;ÇOIN.......is developed on a separate/anonymous blockchain While TOKEN.......is developed from some coin's native blockchain e.g.,ERC-20 tokens on Ethereum etc.

11 REPLY

24

Becky Ruvare
27 Oct

Simplified, thanks boss.

3 REPLY

11

Azizul Hakim Sowrov
18 Oct

Thanks for this very informative post. I thought they both were same.

8 REPLY

23

preview not available Hafsa M
18 Oct

Good to see its informative for peoples

3 REPLY

7

Jahirul Islam
19 Oct

Hafsa mansor is a very good writer.i get good information on each of his content.

8 REPLY

15

MD ABDUL BASED
19 Oct

Yes, I also agree. She is a hard worker. I appreciate all her performace being an Non-English speaking people

6 REPLY

20

preview not available Betty Ozemoje
18 Oct

Thank you for clarifying the meaning of coin and token.

7 REPLY

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A cryptocurrency is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets.

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