Coins and tokens are both types of digital assets that are based on blockchain technology, but they have some key differences.
Coins are digital assets that are designed to function as a medium of exchange, similar to traditional fiat currencies such as the US dollar or the euro. Examples of coins include Bitcoin, Ethereum, and Litecoin. Coins are typically used to facilitate transactions and are not tied to a specific application or service. Additionally, coins are the medium of exchange on their own blockchain. For example, bitcoin is the medium of exchange on the bitcoin blockchain.
Tokens, on the other hand, are digital assets that are built on top of an existing blockchain and represent a specific asset or utility. They can be used for a variety of purposes, such as representing a share in a company or serving as a unit of exchange within a specific application or platform. Examples of tokens include utility tokens, security tokens, and non-fungible tokens (NFTs).
In summary, coins are primarily used as a means of exchange, while tokens have a broader range of uses and can be tied to specific applications or assets.