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[Gen Evie]

Crypto is becoming more popular due to the rising digital economy and innovative technologies. Popular terminology in the cryptocurrency realm includes crypto coins and crypto tokens. However, some people are unsure if they are creating crypto coins or crypto tokens.

Are they the same? .. No, these two are not the same and have distinct characteristics. Let's go over some specifics regarding them.

Crypto Coins

1. Has its own blockchain
2. Costs a lot to make coin
3. Can create their own protocol
4. Need broad community adoption and support
5. Need significant resources and skills to create
6. Eg. Ethereum

Crypto Tokens

• Developed with the existing blockchain token standard
• Anyone can develop a crypto token
• Comparatively easy to create
• Tokens may be issued during the crowdfunding process or used it treading purposes
• Cost and time efficient
• Eg. security token, utility token

I Hope now you understand the difference between crypto coins and crypto tokens.

 

[btaliat]

Most times, token can be used for different purposes that a coin can be used for. And since there is almost the same price with the coin, it is always better to focus on the ones with lesser money but can serve the same purposes.

 

[IB DD]

Most startups run on existing blokchains and cannot stay on these networks to create their own coin. And also creating tokens help these startup crypto projects to raise capital to pursue the development of their projects.

 

[btaliat]

Most startups run on existing blokchains and cannot stay on these networks to create their own coin. And also creating tokens help these startup crypto projects to raise capital to pursue the development of their projects.

That is true. Most of the new startup could not afford staying on their Blockchain network alone. BCH was using bitcoin Network when it was newly developed before it developed its own new network.

 

[IB DD]

That is true. Most of the new startup could not afford staying on their Blockchain network alone. BCH was using bitcoin Network when it was newly developed before it developed its own new network.

And it wouldn't be permissible to stay on the network of a crypto coin and float your own new coin. They would need to start as tokens first till they can build their own network and stay independently. I believe the BCH Blockchain didn't float BCH as a stand alone crypto coin at the time it was using the Bitcoin network.

 

[btaliat]

Most start-up always want to rely on the network of the popular coins. This will akwiw them to gain some momentum. There are different meme coins that were created them and they are all on big coins to get their names known.

 

[IB DD]

It could also be because the new crypto project wants to have some guarantee by building on a secure existing network than rush to launch it's own network which could be risky in terms of security. So they rather start on a secure network like Ethereum and release Tokens while they build theirs.

 

[Margery]

Using tokens instead of coins provides startups with greater flexibility, integrability, and functionality when developing and promoting their blockchain projects.
Tokens can be easily created using existing token issuance platforms such as Ethereum, Binance Smart Chain and others.
These platforms provide tools and smart contracts for creating tokens without the need to create your own blockchain network.

 

[lamia5765]

Using tokens instead of coins provides startups with greater flexibility, integrability, and functionality when developing and promoting their blockchain projects.
Tokens can be easily created using existing token issuance platforms such as Ethereum, Binance Smart Chain and others.
These platforms provide tools and smart contracts for creating tokens without the need to create your own blockchain network.

Sometimes it is not your choice but the payment platform offers withdraw of tokens instead of coins means you need to receive on an exchange then trade tokens to coins in most of the cases and doesn't offer withdraw directly on coins.

 

[Gamer01]

Exactly tokens are the preferred choice though from the pre ico era most people have become skeptical of crypto hardly you would find any project that is giving anything to people most projects are looking to make money of the people that is why most people stay away from crypto niche now

 

[Crystal247]

It is because token is easier to create and as well does cost a little lesse than that of coin. However, it does take time for token to be known. Many people do not want to trsut token due to the fact that it does record failure.

Sure, crypto token can run in another project chain or under someone project, meanwhile a coin stand by itself as a project, it's easy to generate more token than to build a particular project as a coin.

 

[Gamer01]

yes creating tokens is a much easier and better choice and a lot of people actually love to do this idea coin has higher listing fees , difficult scrutiny process management team with expertise is needed so that makes it probably one of the more difficult things actually so we should care for tokens more than creating coins indeed actually.

 

[Deyiang]

you are absolutely correct tokens can be easily created that is why a lot of starters create tokens though these tokens in a long run can become coins though this depends on the level of acceptance by the general public.

 

[lamia5765]

you are absolutely correct tokens can be easily created that is why a lot of starters create tokens though these tokens in a long run can become coins though this depends on the level of acceptance by the general public.

Is there a possibility that a token is becoming a coin in the future or such thing doesn't happen in real world and then needs to be listed on exchange and be converted to coins instead of all this? Most of exchanges list both tokens and coins.

 

[Wisdom01]

you are absolutely correct tokens can be easily created that is why a lot of starters create tokens though these tokens in a long run can become coins though this depends on the level of acceptance by the general public.

Although the level of acceptance would prolly determine the token development proceeding , if the level of acceptance is actually high or much to me is actually a positive something or notation based on my observation

 

[Gamer01]

tokens are created easily coins are difficult both are having difference in source codes creation methods so we can never actually rely on the same methods to create both pf them we have to put in our best to make things happen i would always go for tokens because of low listing fees of them on exchanges

 

[Wisdom01]

Although probably it's because of the concept attached and how easier it would be to create a crypto token , although I believe both actually needs fees for their transaction to get processed easily thereabout

 

[Gamer01]

yes both of them need fees but depending upon the network blockchain of the token coin is a better option in terms of fees via if networks like tron trc20 are selected then we can easily see how things can work our pretty cheap and trx transactions dont take much money expense and time as well either .