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Know the Difference Between Crypto Coins and Crypto Tokens

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Coins refer to any cryptocurrency that has a standalone, independent blockchain like Bitcoin.

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The primary difference is that tokens tend to be dApp-specific, whereas coins are mostly used as money.

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Crypto tokens are a unique outlay of broader smart contracts platforms like Ethereum that enable users to create, issue, and manage tokens

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While crypto coin transactions are handled by blockchain, crypto tokens rely on smart contracts.

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For crypto coins only account balances change but when a token is spent, it physically moves from one place to another, for example, NFTs (Non-Fungible Tokens)

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While crypto coins are essentially digital versions of money, tokens can stand for assets or deeds.

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A crypto token is simpler to create than a cryptocurrency coin.

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To form a new crypto token, a developer can simply follow a template approach on their chosen blockchain, i.e Ethereum or the burgeoning NEO platform

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While coins can be multifunctional, tokens take more forms than just granting users access to products and services offered by a dApp.

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Top 10 most-trusted cryptocurrency wallets to safeguard saving

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