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From googling some results, both are exchanges of value

token is limited to the project ecosystem. coin is a general-purpose exchange of value.

But I didn't get it Bitcoin is a Coin still we buy it using USD. and we can use BTC or ETH in their own ecosystems. they are not general-purpose anyways.

2 Answers 2

1

coin: L1 native asset (BTC, ETH, SOL, ADA)

token: asset via smart contract (ERC20, NFT, ERC1155, community tokens, social tokens, ...).

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Coin - is the primary medium for exchanging value in the ecosystem.It is used to reward the validators/miners
Token - is a secondary medium for exchanging value in the blockchain. They are "live" in a smart contract, so in blockchain which does not support smart contract development can not have tokens.

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