![]() ![]() These crypto coins are primarily designed to store value and work as a medium of exchange, similar to traditional currencies. What is a Crypto Coin?Ĭrypto coins are native to their own blockchain. The TLDR is: Crypto coins are a form of digital currency that are often native to a blockchain, with the main purpose of storing value and working as a medium of exchange.Ĭrypto tokens are digital assets that are built on top of an existing blockchain (using smart contracts) and can serve a wide variety of functions, from representing a physical object to granting access to platform-specific services and features. Though coins and tokens use distributed ledger technology (also known as blockchain technology), there are some significant differences between a coin and a token. While many people use the phrases ‘crypto coin’, ‘crypto token’, and ‘cryptocurrency’ interchangeably, they’re not the same thing. Examples include Cronos (CRO), Very, Very Simple Finance (VVS), and Uniswap (UNI).Tokens offer functions, including utility, security, and governance.A token represents an asset or offers holders certain platform-specific features.A crypto token is built for a decentralised project on an existing blockchain (usually Ethereum, the most popular blockchain for decentralised projects to build upon).Examples include Bitcoin (BTC), Ether (ETH), and Cardano (ADA).Coins can be mined through proof of work (PoW) or earned through proof of stake (PoS).A crypto coin is a form of digital currency that’s often native to its blockchain it stores value and acts as a medium of exchange. ![]()
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