in my opinion, the purpose of token is something to give as a reward. Like in an ICO every projects have its own token to give back every end of the bounty projects.
This is funny answer.
Hi guys, this just bother me long time ago, and just popped up recently..
What is the purpose of token?
I can not figure it out because I have one token before and I did not know how to use it and I can not even transfer it to bitcoin. I am just wondering why people keep inventing and creating so much token at all.
I hope I can get POSITIVE response and not some hates and negative one.
Thank you.
Token can define is so many ways such as token in crypto world, base on the basic definition of token it is:
something you give to someone or do for someone to express your feelings or intentions or a round piece of metal or plastic that is used instead of money in some machines, for example, to get food or drink out of a vending machine, use a car park, etc:
However if we talking about token in virtual world (crypto currency) it was the same as a tangible things that can offer or give to you. So if you asking what should you do in your tokens I think you know the right answer. It's maybe do trading or hold it for a long time of period to increase its own value in terms of cryptocurrency.
Everything depends from a project, in real world you give token to someone for something, in cryptoworld tokens can be used for all sort of things. You can get interest on your tokens, if its casino and you have their tokens, depending on how many tokens you have that much interest you will get. You can have a vote with your token, or simply token is like a share of some company.
Yes you can trade with your tokens, its like you are on a stock market. That`s the cryptoworld, you can be a broker if you want to be.
To make it shorter token can have so many purposes, read whitepaper about the project and you will see what their token do.
