Difference between Cryptocurrency Coins and Cryptocurrency Tokens.

For many crypto users, terms surrounding cryptocurrencies may be challenging and confusing. The world of cryptocurrencies is filled with computer jargon and terminologies that may be difficult to wrap around for beginners and seasoned users as well. Often you will hear people use the words, “coin” and “token” interchangeably. But are they the same? This article aims at highlighting the fundamental differences between coins and tokens. Hence, next time you are explaining cryptocurrencies or planning to invest in one you are more informed as to what exactly they are.

What are cryptocurrencies?

Coins and Tokens are generally referred to as cryptocurrencies. You are probably wondering what are cryptocurrencies? So let’s begin by defining cryptocurrencies. The term itself is an amalgamation of two terms cryptography and currency. Cryptography refers to the use of encryption techniques(enciphering and deciphering) to decode messages, on the other hand, currency…