Some mistakes most people (especially Newbies) about coins and tokens.

[dezoel]

Not bad that you took out your time to point out the mistake that a lot of people have been making in this forum, at least it wouldn’t be bad for those who don’t know it to learn today and avoid making such a mistake, no knowledge is a waste. I do notice that a some of the people do make that error when they are making a post in the forum, they would be talking about an asset and they would say a ‘coin’ and on the same post they would also refer to that same asset as a ‘token’.

I believe that the mistake is because they don’t understand yet that the both of them are different. I do come across it and ignore, but it's good that you pointed it out for those of them to learn. Example of tokens are the ERC-20 tokens .

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[JeffBrad12]

Even if this doesn't mean so much for people but at least you do tell the newbies about the knowledge that you had known. You must believe as an educational thread that your thread was not totally useless at all and you give some newbies new knowledge about the differences between coin and token. The newbies keep calling coin token caused by they are very familiar with a token instead of coins. They even call ethereum a token but this may be some not for all.
Sometimes people are using the thing that makes them all feel confident with it. that's why token or coin didn't matter a lot.

[Mpamaegbu]

Actually, things like this may not mean much but it's not wrong to know things like this so that we don't mispronounce coins and tokens

Yes, it's good to know the difference as someone in the industry but it's not necessarily a big deal not bearing it in mind. To be honest with you, misplacing their meanings or not won't make anyone a better trader. It reminds me of a story I heard of a wealthy man who owned several cars but couldn't differentiate which was which. He didn't know what model or make of cars he drove. One day his driver said to him – You own all these cars and you don't even know their names? Shouldn't that bother you?" He proudly responded, –" Well, it doesn't matter provided I can buy them and you can drive them." Knowing how to trade those tokens or coins is more important than merely knowing which is which, and I guess that's why a lot of people necessarily don't pay much attention to the difference. 

[Ryu_Ar1]

You and me may know the difference because we have been here for a while and that is fine. However, there are some newbies that do not know the difference and because of that they may end up making wrong decisions. It does matter because in one of them you spend the coin whereas on the other it is the coin itself. Knowing the difference would mean that you could save some money when you are a newbie.

This happened to me some time ago because I am still quite new to crypto so it really confused me and there was one time when I sent my BNB from one wallet to another because I wanted to buy a token there which I should have sent BEP20 but I even sent BEP2 there which made me have to pay extra even though it wasn't too big because it was only a small nominal but for a beginner like me, this kind of thing of course makes a loss

Yes, I agree with you.
That's what it should be and every learning that everyone takes is a good thing to have. Whether it's a serious thing or not, still it's a gained knowledge that every newbie must have.
There goes the technicalities and there goes the basic ones that you have addressed. It's relatable when we're also there as newbies before.

As long as this is useful for continuity why not
At least with things like this I can add to my insight because I often read, especially in this forum, many people often say that beginners usually only follow and this is what makes them wrong, at least by learning from the beginning I will not be like those who participate in the wrong thing because I've studied before

[Anguwa]

COIN
There are several things that I found but so far I can conclude that the coins are actually built by the blockchain protocol because of that coins are still called native because they are genuine crypto assets in the blockchain network.
The functions of these coins are of several kinds, including as a medium for payment, besides that they are also used as investment/trade tools and as a guardian of the sustainability of the blockchain network that they stretcher.

TOKEN
They are assets that are built on the blockchain network belonging to other parties (I call them entrants because in the previous coins I referred to coins as native assets). Simply put, this token comes from a platform that was founded on a blockchain network that is more intended for ownership of an asset.

Actually, things like this may not mean much but it's not wrong to know things like this so that we don't mispronounce coins and tokens

Actually I don't really know the exact difference between coin and Token, but this explanation was not clear enough to make me understand, in fact I am totally confused and u really want to know more about this. Pls can shade more light?

[RealMalatesta]

It's true, still an additional knowledge for those that don't know it yet. But there's no issue whether you call it either way as long as you're pointing them out as an altcoin.

True, But on the other hand this knowledge must remain if they really want to be in crypto because of course learning must come from the bottom first before leading to more serious ones.

Yes, I agree with you.
That's what it should be and every learning that everyone takes is a good thing to have. Whether it's a serious thing or not, still it's a gained knowledge that every newbie must have.
There goes the technicalities and there goes the basic ones that you have addressed. It's relatable when we're also there as newbies before.

Learning is important and we shouldn’t skip the basics, they are as much important as the advanced or secondary part of whatever that we are learning.

I believe that lots of newbies wouldn’t know about this, and would need someone to clear them that coins and tokens are two different things in the market, and not the same as most of them would think. That way when they are making a post, they would know which to use, and same thing as when they are reading a post and they see any of the words being used, they would be able to know that both of the words have different meanings.

[D ltr]

Sometimes in some cases in the discussion of a project sometimes I am always confused by the mention of some people about coins and tokens, Actually it is not really a problem but indeed when things like this are not fixed from the start then things like this can cause misunderstandings and I I also initially started to misunderstand about these coins and tokens.

COIN
There are several things that I found but so far I can conclude that the coins are actually built by the blockchain protocol because of that coins are still called native because they are genuine crypto assets in the blockchain network.
The functions of these coins are of several kinds, including as a medium for payment, besides that they are also used as investment/trade tools and as a guardian of the sustainability of the blockchain network that they stretcher.

TOKEN
They are assets that are built on the blockchain network belonging to other parties (I call them entrants because in the previous coins I referred to coins as native assets). Simply put, this token comes from a platform that was founded on a blockchain network that is more intended for ownership of an asset.

Actually, things like this may not mean much but it's not wrong to know things like this so that we don't mispronounce coins and tokens

it's also good if you can provide detailed examples which are tokens and coins? so that the more clear and detailed the information you provide
it is true that there are coins / tokens beginners often call it the same but maybe with an explanation from you beginners can better understand and know the basic characteristics of crypto currency

[stepwilli]

it's good to know the difference as someone in the industry but it's not necessarily a big deal not bearing it in mind. To be honest with you, misplacing their meanings or not won't make anyone a better trader.

I agree with that...perhaps it wasn't necessary if we are not able to differentiate between coins and tokens coz what matters a lot is we are investing the right coins/tokens. The aim is to make a profit, not the way to name them correctly and I can't deny that I was on that mistake even now. But just like you said, it is not a big deal and we put this into consideration that most of us didn't know.
Well, just all about that, life in crypto will still continue and still more mistakes to come even we don't like it.

But, I believe to become more knowledgeable, it should start in small things like the one we are discussing now. If you know the differences between a token and a coin, you will be more familiar with the coins that you are going to pick and that can help you win your trades or investments.

It is okay for a newbie to make a mistake because they are still a newbie but it would be funny if we old people in crypto still did not know these simple things? A newbie can laugh at us once they figured this things out. It is okay to make a mistake but what is not okay is that if you let those mistake happen when you know that you can do something to correct it.

[LUCKMCFLY]

It's not that easy to trust a new crypto project this day so it's a must for newbies to do deep research, scam projects have different ways to achieve their goals that's why we need to be careful.

1. Make sure the project you are into is audited
2. Be extremely careful around projects with anonymous teams.
3. Also metaverse and meme coins are the most popular right now that's why you need to be careful with new meme and metaverse projects.

This is a good advice not to fall on any fake projects, no matter what it is a coin or a token if they fall for this three category you should be more careful and analyze properly before investing. Scammers will take advantage of the trend in this market, so consider the new project as risky one since they still have no reputation and they can be a scam, look out for bsc network because there are so many scam tokens there.

One of the things for which a new project or reliable tokens should be trusted is that it has a thread here in bitcointalk, if the project has a thread, it is easy to deduce if it can turn out to be a scam or not, also with the simple fact of putting a note in the reputation is enough to trust or not in a project.

Currently there are many projects, some pass the KYC requirements, which is something that can be the order of the day and can be achieved by tricking the system, other investigation options can also be clouded by the things they say or do, if the project does not has no type of regulation or that at least its token can be listed on an exchange like Binance, it is not trustworthy, at least for me.

[bitzizzix]

The distinction between coin and token is blurred and definitions are constantly evolving, the name token may be a misnomer as many often use the term 'coin', so careful evaluation of a token or coin is necessary before dealing with it or buying it.
for those who have been in this industry for a long time, everything starts from beginners and like beginners now can't tell the difference between coins and tokens, and over time we all realize the difference because any language in this forum we must know the intent and purpose so that we can bring beginners to be smart.

[Pelana vreo]

From here you can see the difference between the two. Coins run on networks and blockchains that have been created, for example Bitcoin and Ethereum, these are coins that have different networks, one cannot send Bitcoin to an ethereum wallet address.

Different with Tokens, tokens created on the Ethereum network, for example, with the ERC20 standard, users can send tokens according to the standard token in a wallet address that is compatible with the token standard.

[husdemba]

Actually, this is not very necessary information, but knowledge doesn't hurt. Everyone can be hesitant about this subject, and in this respect, it is a very good sharing. I don't care about these concepts, but others may pay close attention 

[Rahman11]

Simply put, a token represents what a person owns, while a coin denotes what they're capable to own. Additionally, everyone has used a token at least once in their life even if not in this form. For example, your car title is a token.
Tokens can eventually become coins when the project develops its own blockchain and migrate their tokens to the new blockchain as a coin. Successful migration cases include Binance Coin (BNB), Tron (TRX), Zilliqa (ZIL) which previously existed as tokens on the Ethereum blockchain.

[asriloni]

That's a good knowledge about the different between coin and token. I'm sure that not so many newbies in the crypto intend to learn about the different between both.
People may not understand the different between both but this mistake was not so big caused by even when people called a coin as a token and a coin will always be a coin. it doesn't matter whether they have called this as token and coin but this may give people the new knowledge about the different between token and coin. I'm sure that people will be aware about this after seeing your thread.
This must be also made in the beginner section as well.

[TastyChillySauce00]

this is kinda right, so many newbies seems misunderstand the difference of altcoins and token like you have already mentioned, but putting aside the fact that altcoin and token in itself differs, these misunderstanding coming from the fact that even
if the definition of coins and tokens isn’t the same, they are still being called altcoins regardless, in category of investment these two things stands in the equal standing and most of the newbies doesn’t really care regarding the technicality of their investment.
the only things that they did care is that the project brings good potential of great ROI in the long term and no more, and just my 2 cents, thinking coins and tokens as the same entity is quite fine if the only thing that they did is just investing.

[tippytoes]

Most people do not know the meaning of these two words. Especially those who have just started investing think that everything you buy is coins. I've even seen people calling it coins even for NFTs.
In fact, we have been talking about this difference for many years. In my view, a coin is always more valuable than a token. While this doesn't always show up in prices, creating a coin is a much more complicated thing

It still depends, coin or token, it depends on the value of the project itself. You can't say that a coin is always more valuable than a token. Because there are tokens that are valuable than a lot of coins. Just look at the top 10 in market cap, how can you consider BNB in this category? It is identified as token here. Whether, coin or token, their value depends on how the project is performing in the market and how they are influencing the crypto community via its scope and usage.

[YinShuiSiYuan]

Coin can also be a token, and a token can also be a coin, haha

Looks like I don't know something. It is possible that non-cryptocurrency tokens have some other definitions, but as far as I know, it is precisely cryptocurrencies that are made on smart contracts that are called tokens. If a cryptocurrency has its own blockchain, it is called a coin. As far as I know, there are no exceptions to this. However, if I am wrong, I would appreciate if you could give some examples.

[yazher]

beginners think that everything is the same between tokens and coins, there is no difference in red, think about only profits without wanting to know how the project was made maybe with your post this can help (beginners) to find out and want to learn and research the project you want to invest in .

In my case, I profited more on coins than tokens because creating tokens is easy than coins. There are lots of bounty projects that are offering tokens as rewards but they really worth nothing compared to bounty project that offers coins where about 90% of them are legit based on my experience. Now, I don't know the case and if you have those two choices, it's better to choose rewarded by coin than token.

[Lubcub62]

I was only able to distinguish tokens and coins recently. because before I thought it was the same thing.

although the difference is clear. but for beginners like me, things like the difference between tokens and coins are sometimes confusing when you first enter the crypto world. topics like this I think are more useful for beginners. because beginners need to learn something starting from basic knowledge.