What is the difference between crypto coin and token?

The terms "coin" and "token" are often used interchangeably, but they refer to different concepts in the cryptocurrency space.

#Cryptocurrency #Coin:

A coin operates on its own independent blockchain.

Examples include #Bitcoin (BTC) and #Litecoin (LTC).

Coins typically serve as a medium of exchange or store of value.

#Cryptocurrency #Token:

A token, on the other hand, is built on an existing blockchain platform (like Ethereum or Binance Smart Chain) and follows a set of standards, most commonly ERC-20 or ERC-721.

Tokens can represent various assets, including assets, utility, or even ownership in a particular project.

Examples of tokens include Tether (USDT), which represents the US dollar, and decentralized finance (DeFi) tokens like Uniswap (UNI).

In summary, coins have their own native blockchain, while tokens are built on existing blockchain platforms, often serving specific purposes within decentralized applications (DApps) or projects.