What is a Token?

What is a token

“Token” is another word for “cryptocurrency” or “crypto asset.” It has taken on a few more distinct meanings as time has passed.

  • The first meaning is to describe all cryptocurrencies besides Bitcoin and Ethereum (even though they are also technically tokens). 
  • The second meaning is to describe digital assets that run on top of other cryptocurrencies’ blockchains, as many decentralized finance (or DeFi) tokens do. 
  • Tokens have a wide range of potential functions, and they can be traded or held like any other cryptocurrency.



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