Blockchain Concepts

Coin vs Token

Coins and tokens are both digital assets that you can store in BitGo wallets. They both hold value and therefore serve as exchange mediums for payments. However, they generally different in that:

  • Miners mine coins, while the protocol mints tokens.
  • Coins are native assets on their own blockchain, while tokens operate on the blockchain of a coin.
  • Tokens can represent assets (such as deeds or ownership), but they can also be asset itself. For more details, see Transact with NFTs.

Wallet Storage

With the exception of a Go Account, your wallets are blockchain specific. For example, a wallet can't hold BTC and ETH, because they exist on different blockchains. However, multiple tokens can exist in the same wallet, so long as they're on the same blockchain. For example, an Ethereum wallet can hold ETH, MATIC, and 1INCH, because all these assets exist on the Ethereum blockchain.

See Also