what is the difference between TOKEN and COIN

[Applechild]

A coin has its own blockchain equivalent and not built on another while token is something that is built on another platform and only plays role or useful within the business operations of the platform or company that issued it. Coin is a currency that can be traded with and it is accepted by people for any transaction if the parties so agree.

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[tobatz23]

COINS are also called Altcoins. They’re often used interchangeably and simply refers to coins that are an alternative to Bitcoin like Litecoin and Dogecoin while TOKEN are created and distributed to the public through an Initial Coin Offering (ICO), which is a means of crowdfunding, through the release of a new cryptocurrency or token to fund project development.

[Raist]

Hi all,

Can you explain?

Thanks in advance.

Originally word "token" was used to describe crypto currency of any kind (BTC, LTC) without causing any legal consequences, because the legislative framework
of many countries contains definitions of words "currency", "minting", "coin". Today there is no rules for usage of each word, but intuitively I use "coin" when talking of PoW and "token" in other cases (PoS, DPoS, DAG).
I think that the easiest way to newcomers and public will be to ask the question: can this crypto only be mined? If yes  - it is a coin.

[chimcoin]

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:
a 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.
A token is a representation of any fungible tradible good such as currency, loyalty points, gold certificates, in game items and more.
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).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.
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.

[ankit05]

A coin has its own blockchain system on it, or coins are also called Altcoins like as Litecoin and dogecoin. so work standalone while token is smart contracts, they work in ETH and wave. so all token is work in their smart contract blockchain.