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.