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Warning

Differences between coins and tokens

A coin is a cryptocurrency that can operate independently. 

A token is a cryptocurrency that depends on another cryptocurrency as a platform to operate. Check out the crypto tokens listings to view a list of tokens and their respective platforms.

  1. Structure: Coins are digital financial assets; they are actual currencies and are capable of being exchanged and used for trading purposes. Tokens are also digital financial assets but rather than being  actual financial assets like the coins they act as a representation of the actual financial assets.
     
  2. Infrastructure: Each coin has its own independent blockchain, distinguishing it from any other coin. While the same cannot be said for tokens: tokens are built upon and entered into the same blockchain.
     
  3. Creation: Most of the coins use the basic framework of a bitcoin along with some additional coding and changes to the framework to introduce new and unique features so as to differentiate it from bitcoin or any other coin whose framework has been used. All the programming and coding is done from  scratch. The purpose of such a creation is to improve upon the existing technology, making it more efficient. While for creating a token no changes to the programming or additional coding are required, all the tokens use the same codes for their entry into a blockchain.
     
  4. Ease and Difficulty of Creation: Since, for the creation of cryptocurrency coins there is a need for programming and coding from  scratch, the level of difficulty of creation is higher  compared to tokens, which use the same set of codes and programming for their creation.
     
  5. Platform for Operation: Coins are  programmed so that it is in their nature to exist independently. Coins can be used for trading as well as a measure of exchange and a unit of measure for digital financial assets. Tokens, on the other hand, cannot exist independently and are not  direct financial assets but rather a mere representation of assets. They are based upon other platforms.

BIDS

The bid price is the highest price that a particular buyer is willing to pay for a specific product or service. In the context of financial/crypto markets, it is the value buyers offer for an asset, such as a commodity, security or cryptocurrency.

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ASKS

The asking price is the minimum price that an individual would be willing to sell their asset, or the minimum amount that they want to receive in return for the unit(s) they are parting with.

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MY OPEN ORDERS

Here you can see all of your open orders. To cancel an open order, just click the ‘X’ symbol next to it.

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LIMIT ORDER

Limit order gives you the power to set a specific price at which you would like to buy or sell the desired amount of cryptocurrency.

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MARKET ORDER

A market order is an order type that enables you to buy or sell at the best available market price.

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STOP LOSS LIMIT

A Stop Loss Limit order is designed to limit your loss on a cryptocurrency position. A Stop Loss Limit order can be placed to buy or sell a specific cryptocurrency at your entered price (a limit order) once that cryptocurrency reaches a certain price.

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TAKE PROFIT LIMIT

A take profit limit order is an order put in place by traders to maximize their profits and protect their profits on positions. A take profit limit order allows you (a trader) to set your custom made Buy or Sell order. You have to set two prices - the Trigger Price and the buy/sell Price.

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