Coin vs Token
Coins and tokens are both digital assets that you can store in BitGo wallets. They both hold value and are therefore used as exchange mediums for payments. However, they generally different in that:
- Coins are mined, while tokens are minted.
- 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 Concept: NFTs.
With the exception of trading wallets, 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.