Coin vs token: the difference between crypto coins and tokens
By SendPay Business · · 2 min read
- 1Type in your own numbers
- 2The tool works it out
- 3See the answer clearly
People use "coin" and "token" as if they mean the same thing, but there is a difference. A coin is the native currency of its own blockchain. A token is created on top of a blockchain that already exists.
The short version
Tap to explore
Tap each one to see what it means.
Coin
runs on its own blockchain and usually pays that network's fees. Bitcoin (BTC) on Bitcoin and ether (ETH) on Ethereum are coins.
Token
issued by a smart contract on another chain. Most stablecoins, such as USDC, are tokens that live on Ethereum and other networks.
Why it matters when you send them
A token lives on a specific network, so sending USDC on Ethereum to an address that expects USDC on a different network can go wrong. Always check the network as well as the asset before sending. Moving a token also costs a fee paid in that network's coin, which is why an Ethereum wallet needs a little ETH to move tokens.
Try it
Name your platform and watch it come to life
Type a name, tap a colour and pick what it does. The phone changes as you go.
Colour
What it does
Design and preview your whole platform free, then launch when you are ready.
Neither is a promise of value
Anyone can create a token in minutes, so being a token or a coin says nothing about whether it is worth anything. Many scams launch new tokens with big promises, so check who is behind one and where it really trades.
Where SendPay fits
SendPay platforms let your customers buy, sell and hold crypto next to their cash in your branded app, with assets held with regulated partners and a trading fee you set.
How it works
Your own money app- 1Name it and pick your colours
- 2Choose what it does
- 3Launch when you are ready
Why sign up
Create your free SendPay account
It's all about creating your own financial platform with ease. Start with a free account today.
- 🪪A free business accountOpen it in about a minute with your business name, email, password and mobile. No card and no documents to start.
- 💳Get paid from day oneTake card payments, and share your own payment link and invoices so customers pay in a click.
- 🌐A free business websiteFree to build, free to publish and free to keep, with unlimited visits.
- 🚀Your own financial platformDesign and preview your whole platform free, then launch when you are ready.
SendPay Business is a technology company, not a bank. Accounts, cards and payments are powered by licensed partners.
Questions people ask
What is a coin's market cap?
Work out market cap from price and supply.
Crypto market cap calculator →Read next
Spotted a mistake or something out of date? and we'll fix it. How our guides are made
This guide is general information, not legal or financial advice. SendPay Business is a technology company, not a bank, and does not take deposits; regulated services on the platforms are provided by licensed partners. Other companies named in this guide are reference points only and are not affiliated with SendPay Business.