What is the difference between a "coin" and "token"?

[kryptokingD]

Coins basically are currencies which can be traded or used for buying and selling of things if those buyers and sellers choose to accept the coin. And a coin has its own blockchain or equivalent, and is not built on another like Etherium.

But a token is something that can be built on another platform, like Etherium, and a token actually plays role within the business operations and transactions of the company that issues it

[dianaking]

I think token is any coin on the ethereum network or platform, and coin is is just a coin. I don't really know, myself I am confuse. I guess I can also learn from expert opinions here

[deiyor]

More...

https://blog.chronobank.io/token-vs-coin-whats-the-difference-5ef7580d1199

Function vs form

Very broadly, a crypto coin is just that: a coin, or means of payment, whilst a token has wider functionality.

The express purpose of a coin is to act like money: as a unit of account, store of value and medium of transfer. Coins tend to take the form of native blockchain tokens like bitcoin (BTC), Litecoin (LTC), Monero (XMR), and so on, though they do not have to. ChronoBank’s Labour Hour (LH) tokens, which are hosted on Ethereum, can be considered as coins. Their purpose is solely to act as a form of money, storing value over time and enabling businesses to account and pay for services. They are created as ERC20 tokens for reasons of convenience.

Blockchain tokens do have value, but they cannot be considered money in quite the same way that a straightforward coin can. Tokens are generally hosted on another blockchain, like Ethereum or Waves: 2.0 protocols that allow users to create them using the core coin (e.g. ETH or WAVES — though there’s some debate about whether ETH and WAVES, both of which act like ‘fuel’ for their systems, are coins in the same way that BTC acts as a simple currency).

Tokens offer functionality over and above that of digital cash. They may deliver value to investors, beyond speculative returns; this is one of the purposes of ChronoBank’s TIME token. That can occur in a variety of ways, though typically through buybacks (since dividend payments entail regulatory problems). They may be used to hold votes by the community on key business decisions, or even technical changes to the platform.

I agree with this

[StockBet.com]

Poink has a good explanation.

Both coins and tokens are cryptocurrencies.  Tokens are usually created on top of another blockchain such as Ethereum.

[desi92]

The simple different between token and coin is token was built from coin system. It means token is part of coin. Thats all i know.

[bitforward.co]

All explanations are from personal idea, collective knowledge or Google?
Is there any standard and academic explanation?
If you can't explain clearly, simply and understandably to newbies, then it proves that you do not understand  it thoroughly
This is for newbies
Coin is money in crypto world (like USD, EUR in the fiat world)
Token is a code/symbol/ticker of a company in crypto world (like AAPL, GOOG in stock world)
You pay the money (coin) to buy a token (like that you pay usd to buy APPL shares)
And then to make it simple and easy to control. The company creates their own coin and name the coin same as token like bitconnect coin(token is BCC), hextracoin(token is: HXT), but still accept common coin like bitcoin and ethereum
Just imagine like this: bitcoin and ethereum like usd and euro the common currency in the world
Vietnam only uses VND in their country, but still accept USD and EUR

[DaftAjax]

All explanations are from personal idea, collective knowledge or Google?
Is there any standard and academic explanation?
If you can't explain clearly, simply and understandably to newbies, then it proves that you do not understand  it thoroughly
This is for newbies
Coin is money in crypto world (like USD, EUR in the fiat world)
Token is a code/symbol/ticker of a company in crypto world (like AAPL, GOOG in stock world)
You pay the money (coin) to buy a token (like that you pay usd to buy APPL shares)
And then to make it simple and easy to control. The company creates their own coin and name the coin same as token like bitconnect coin(token is BCC), hextracoin(token is: HXT), but still accept common coin like bitcoin and ethereum
Just imagine like this: bitcoin and ethereum like usd and euro the common currency in the world
Vietnam only uses VND in their country, but still accept USD and EUR

According to your statement, I see that it is quite an explanation, I commend you about that. But as you continue on explaining the concept of it, you seem to forget that this is for newbies, and because of this, you're just saying things that are even more complicated. You're just summing up all the misunderstandings behind its concepts. For the newbies, those words are all random and new, that they don't have the current knowledge for them to get what you have just said and they will probably wouldn't understand it more thoroughly.

[kaeluxdeuz]

1. Coins or Cryptocurrencies
These are digital currencies like Bitcoin in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds. They are operating independently of a central bank.


2. Utility tokens
The utility tokens are services or units of services that can be purchased.  These tokens can be compared to API keys, used to access the service.


The keyword is utility...tokens do something.  Coins are just "coins" that sometimes used as a foundation in creating new tokens.

This is the correct answer for the question stated above.
You also have a security token which is an electronic software access and identity verification device used in lieu of or with an authentication password.

[ogini]

The difference between Tokens and Coins is thst Tokens are a representation of a particular asset or utility, that usually resides on top of another blockchain.while coin are alternative cryptocurrency coins which are also called altcoins or simply coins.

[AyaYotoko]

the simpliest explanation without technicalities is, you can say coins are similar to tokens. It's just that Tokens are from Eth platform while coins have its own wallet.

[ICOtoINVEST]

According to https://blockgeeks.com/questions/what-is-the-difference-between-coins-and-tokens/

Coin is strictly a currency that can be traded, and accepted by people buying and selling things if those buyers and sellers choose to accept the coin. And a coin has its own blockchain or equivalent, and is not built on another like Etherium.

But a token is something that can be built on another platform, like Etherium, and a token actually plays role within the business operations and transactions of the company that issues it.

[crimsongoth]

The difference between coin and token is that they have their own independent systems, software and independence from the central authority. Bitcoin is a coin. For example, Ethereum, Next and Wave are also a coin. The difference is that these systems have a software that allow them to issue tokens on themselves. Thus, tokens are a unit type bounded by central authority (Like Ethereum) and having limitations. I think it is possible to say that the decentralization idea is incompatible. Coins include tokens

[madgtr]

1. Coins or Cryptocurrencies
These are digital currencies like Bitcoin in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds. They are operating independently of a central bank.
Soon every fiat currency may become a cryptocurrency, in that case operating with central banks. This is what Singapore has started with their Ubin project.
2. Utility tokens
The utility tokens are services or units of services that can be purchased. As describes in Balaji S. Srinivasan post, these tokens can be compared to API keys, used to access the service.
They are a way to fund projects of shared infrastructure that couldn’t be funded before. To enable such ecosystems to be built some tokens can be “pre-mined” in addition to be sold in “crowd-sales” during tokens launches.

[kabzeon]

In practice, the line between coins and tokens is not clear and sharp. Both are used to transfer value, as a means of payment, in a similar way to that both USD and shares are used to reward people for work (though predominantly the former). As I understand it a coin is strictly a currency that can be traded, and accepted by people buying and selling things unilaterally in the same cryptocurrency. A token can also be regarded as currency but mainly within the business operations and transactions of the company that issues it andn the economic system it creates.

 

[max6575]

the token might works as similar function to gives with reference of tasks with the financial operation of the funds transfer as leaves of chance as might with the occupation to follows of the design template of the coins blockchain as referring unit of finest with the nominal value of price per unit with the decision of exchange.

[Lumberjack1935]

More...

https://blog.chronobank.io/token-vs-coin-whats-the-difference-5ef7580d1199

Function vs form

Very broadly, a crypto coin is just that: a coin, or means of payment, whilst a token has wider functionality.

The express purpose of a coin is to act like money: as a unit of account, store of value and medium of transfer. Coins tend to take the form of native blockchain tokens like bitcoin (BTC), Litecoin (LTC), Monero (XMR), and so on, though they do not have to. ChronoBank’s Labour Hour (LH) tokens, which are hosted on Ethereum, can be considered as coins. Their purpose is solely to act as a form of money, storing value over time and enabling businesses to account and pay for services. They are created as ERC20 tokens for reasons of convenience.

Blockchain tokens do have value, but they cannot be considered money in quite the same way that a straightforward coin can. Tokens are generally hosted on another blockchain, like Ethereum or Waves: 2.0 protocols that allow users to create them using the core coin (e.g. ETH or WAVES — though there’s some debate about whether ETH and WAVES, both of which act like ‘fuel’ for their systems, are coins in the same way that BTC acts as a simple currency).

Tokens offer functionality over and above that of digital cash. They may deliver value to investors, beyond speculative returns; this is one of the purposes of ChronoBank’s TIME token. That can occur in a variety of ways, though typically through buybacks (since dividend payments entail regulatory problems). They may be used to hold votes by the community on key business decisions, or even technical changes to the platform.

This helped me a lot, thanks for the knowledge provided

[mercer007]

Coin's have there own blockchain and tokens are app made on those coin's blockchain.
Example Ethereum is a coin having it's own blockchain while Monetha is a app developed on Ethereum's blockchain.

[kaizer28]

the terms are created and evolve as they are needed, and there is not always clear agreement about what they mean.
Two terms used to describe units of blockchain value are COIN and TOKEN. Their meaning and usage overlaps considerably and they are often used interchangeably, but — strictly speaking, at least — there are some differences.

[popolite11]

All coins refer to cryptocurrency (like ETH, Bitcoin, DASH etc), while tokens are analogous to shares. This is like another way of financing projects of a common infrastructure that could not be financed previously.

[cryptogirls85]

So... if Ethereum price drops consequently all the Tokens created on that platform will drop too?