Bitcoin Forum

I had an encounter with a group of people who claimed that the term "crypto" and "cryptocurrency" have no difference and that they're the same thing.

At first, I thought maybe crypto is the general term while cryptocurrencies are those types of crypto that can be used directly to pay for a service like for example BNB, ETH, usdt, etc.

Is there a difference between both terms?

According to investopedia.com (https://www.investopedia.com/terms/c/cryptocurrency.asp) Cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or spend twice. Many cryptocurrencies are decentralized networks based on blockchain technology — distributed ledgers enforced by a network of disparate computers.

While Crypto is a general term for a broader scope and includes all Cryptocurrency models that have been born. In general, it is almost the same, but this is just a nickname and basically when people mention crypto, they will definitely remember Cryptocurrency. And I don't think it's a problem as long as you can understand it very well, even if you don't sort it out in an understanding way.

Let me show you a translation from Russian that explains the meaning of "crypto". I think the word would have the same meaning in English.


That is, based on this explanation, the word "crypto" cannot be used to mean "cryptocurrency," as it has a much larger meaning and can be applied with many words. No, of course it can be used by some people, but it would be a misuse of that part of the word.

Actually there is no difference between both terms. Crypto is the short form of Cryptocurrency and they both are digital virtual currency and they indicate both Bitcoin and altcoins. Hope now you are clear about it and if you have more doubts hope senior members will clear it our soon.

The terms "crypto" and "cryptocurrency" are often used interchangeably, but I think they have slightly different meanings.

Specifically, "crypto" refers to the use of cryptography in technology, while "cryptocurrency" specifically refers to digital currencies that use cryptography for security and operate independently of a central authority.

For example, here are some additional examples of terms that use the prefix "crypto", as found in the dictionary, in addition to cryptocurrency:
Cryptography
Cryptogram
Cryptology
Cryptovirology
Cryptosphere

Cryptocurrency, sometimes called crypto-currency or crypto, is any form of currency that exists digitally or virtually and uses cryptography to secure transactions. Cryptocurrencies don't have a central issuing or regulating authority, instead using a decentralized system to record transactions and issue new units.
This is according to: https://www.kaspersky.com/resource-center/definitions/what-is-cryptocurrency Read through this article about crypto and your will understand better, then you can clear the air with your friends.

Whenever someone says the term 'crypto', it's common that person is talking about cryptocurrency. That's the first thing that one can think of but if it's specific about in technical terms and they're not in crypto then cryptography is the second thing to think about.

It's not a problem whether they think crypto and cryptocurrencies are two different things.

No need to be stressful about it and let them believe and justify what they want to believe as long as you know what you're thinking of and believing for.

Didn't knew there was a difference between crypto and cryptocurrency. My stress is on why are some cryptocurrency called token and others coin?

They're the same thing. Crypto is just the short way of saying cryptocurrency. Just like you have forex is short for foreign exchange.

Alright let me try to explain this the way I can, a coin has its own blockchain for example you have ethereum, Ethereum is a coin because it was built on it's own blockchain but when a project decides to build its own using another blockchain you can think of it like a borrowed blockchain, what that project produces is what we refer to as a token.

Another thing you should note is that a coin uses from its own balance as gas fee but token uses from whatever chain it was built on. For example if you're transacting with ethereum your gas fee will be take from the Ethereum in your wallet, but let's say you want to send usdt that was built on Ethereum block chain your gas fee won't be usdt(a token) but Ethereum(a coin) since that's the chain the usdt was built on.

There is a difference between both terms but the people who concern themselves with this difference are more interested in English Language and communication than Cryptocurrency. But effective communication is signified by understanding, and if you say "crypto" to someone and they understand you, you have effectively communicated even without saying the full and specific word. You mostly use the full word in formal conversations and to newbies who do not understand when you say "crypto".

Also, every sector has it's own terminologies that is approved for use within it's space, and "crypto" has grown to become accepted as one of the terminologies in cryptocurrency.

Crypto is used widely as a short form of cryptocurrency. Sometimes people used to write crypto instead of cryptocurrency, but people with zero knowledge about cryptocurrency will have hard time understanding the meaning of "Crypto" but if you use "cryptocurrency" they will understand that it is a currency.

I have thought about this and I didn't know it will give some people concerns and confusion.
In more clearer terms, "crypto" is a prefix that is used for words that has to do with cryptography or words which have their foundations on cryptography.
Just like crypto-currency etc.

 But for the fact that cryptocurrency is the most popular among these crypto family, the word crypto is now being generalised as the short form of cryptocurrency.

Well in that context, there's obviously no difference between those words.
But if we will be more technical and look for the ACTUAL meaning of these 2 words, we will find out that they are different but they're related.
Crypto is a shorter term for "Cryptography" which pertains to a way of using codes to encrypt information. On the other hand, cryptocurrency is a currency that was made entirely of codes. To put it together, cryptocurrency is one product of crypto/cryptography.

Lol. It was not an in-depth explanation but I hope it makes sense & I hope that I am not giving wrong information.

It can be not correct usage but many people thought and use crypto as abbreviation of cryptocurrency but as said I don't consider it is a right word use.

To differentiate them, first let's check Definition of tokens (https://bitcointalk.org/index.php?topic=2251834.0)

My explanations

• A coin is when it has its own blockchain. Like Ethereum $ETH is a coin because it has its own chain namely ERC-20 chain. All Ethereum transactions are on Ethereum ERC-20 blockchain. Transaction fee will be paid on that coin too.
• A token does not have its own blockchain. It is like a parasite on an available blockchain. Example: A token runs by smart contract on Ethereum ERC-20 chain. Therefore, if you want to make a transaction with that token, you can not pay transaction fee with that token and you must have a native currency on that chain for transaction fee, this case it is $ETH.

I also consider the two as one, and I also prefer to use crypto instead of cryptocurrency simply because I like to shorten my speeches and articles. I've also seen people argue about this a few times, and they give different proofs, but I still think both are the same. Even some bitcoin maximalists just consider bitcoin as crypto, the rest are not crypto, and they consider all altcoins as trash. Everyone has an opinion, no one is the same and we should respect each other.

There is actually no difference between the two “crypto” this is short for “cryptocurrency” which refers to assets (digital money) that use cryptographic technology to process transactions and secure networks. While the term "crypto" may be easier and quicker to use, some people may need additional explanation to understand what is meant by the term.

In proper discussion, the term "crypto" is used as a word unto itself, especially when the conversation focuses on the cryptocurrency industry in general. However, if we are talking to someone who is not familiar with cryptocurrencies, it is better to use the term “cryptocurrency” to make sure they understand the topic being discussed.

Therefore using the term "crypto" in the right place is important. I always use this title in cryptocurrency forums, and surely other users will understand that. It's impossible for me to use this term in other places that are new to cryptocurrencies, because they will definitely misinterpret the term "crypto" with others.

The word Crypto is mostly used Data security and Encryption field, in which we use different data security techniques to secure our data whether it's video, audio, image or whatsoever. So i think crypto and cryptocurrency do have different meanings. How? Crypto is used to secure every data but "Cryptocurrency is used to secure transactional data related to money or to validate the transactions of digital money. That's why we use the word Cryptocurrency and sometimes we use Crypto as the abbreviation of Cryptocurrency.

Sir, decodx, has mentioned many synonyms of Crypto but each of those words has a different meaning according to the field in which they are being used.
Cryptography (https://en.wikipedia.org/wiki/Cryptography#:~:text=More%20generally%2C%20cryptography%20is%20about%20constructing%20and%20analyzing%20protocols%20that%20prevent%20third%20parties%20or%20the%20public%20from%20reading%20private%20messages) --> is used to make secure communication between two or multiple parties by establishing an encrypted channel.
Cryptogram (https://en.wikipedia.org/wiki/Cryptogram#:~:text=A%20cryptogram%20is%20a%20type%20of%20puzzle%20that%20consists%20of%20a%20short%20piece%20of%20encrypted%20text.%5B1%5D%20Generally%20the%20cipher%20used%20to%20encrypt%20the%20text%20is%20simple%20enough%20that%20the%20cryptogram%20can%20be%20solved%20by%20hand.)-->It's the word used to encrypt messages using puzzle of codes and cipher text to encrypt it, so that when someone (third person) get access to it then he/she could not decrypt it as it will be protected with codes.
Cryptology (https://en.wikipedia.org/wiki/Cryptography#:~:text=Cryptography%2C%20or%20cryptology)--> this has the same function as Cryptogram but it goes a little deep into the design and origin of rules and principles for deep encryption of data. overall the purpose is the same: to encrypt Data. It is similar to Cryptography.
Cryptovirology (https://en.wikipedia.org/wiki/Cryptovirology#:~:text=Cryptovirology%20refers%20to%20the%20use%20of%20cryptography%20to%20devise%20particularly%20powerful%20malware%2C%20such%20as%20ransomware%20and%20asymmetric%20backdoors.)-->It's used to make malware and malicious software using encryption methods so that they can easily be put into the victim's computer or any digital device to get control of it. Overall, data encryption and security techniques are used in this field too.
Cryptosphere (https://www.google.com/search?q=what+is+Cryptosphere&rlz=1C1CHBF_enPK1036PK1036&oq=what+is+Cryptosphere&aqs=chrome..69i57j35i39l2j0i131i433i512l5j0i512j0i131i433i512.6764j0j4&sourceid=chrome&ie=UTF-8#:~:text=Description.%20As%20described%20on%20the%20front%20cover%2C%20Cryptosphere%20is%20a%20collection%20of%20online%20resources%20that%20anyone%20can%20use.%20The%20idea%20being%20towards%20gaining%20knowledge%20of%20the%20crypto%20space.%20This%20book%20includes%20links%20to%20books%2C%20YouTube%20Channels%2C%20Twitter%20pages%2C%20Decentralized%20Exchanges%20and%20more.)--> is the study in which data encryption and techniques are used to encrypt transactional data of money (digital). It's the same as Cryptology, cryptography, and cryptocurrency but to some extent. Like crypto sphere is the field of study like getting access to journals, research papers, and books.

Overall, if we see among these different words, one thing we will see as common is "encryption of important Data so that no one can tamper with it" same is happening in Cryptocurrency and crypto. So, Crypto is a word used to broadly cover all the fields of data encryption and security but Cryptocurrency is mainly used for encryption and security of Transactional data of Digital money.

If you probably ask me i will also tell you thesame thing here just as people have assumed the term crypto to be a short form of cryptocurrency, which is the context most people make use of it, but one needs to understand the meaning of cryptocurrency at first before going further in details on other terms that relate to it, but just from google search we could see more meaning and difference behind, we may not focused much on that because this is bitcoin discussion forum.

As we who frequently uses cryptocurrency, I often refer to it as "crypto" for the sake of brevity. Essentially, "crypto" is just a shortened form of either "cryptocurrency" or "cryptography." Therefore, I believe that there is no significant difference between the two terms, so other ends peoples weren't wrong at all. It simply boils down to our personal preference in expressing ourselves succinctly. Let's not argue over such a trivial matter.