When it comes to Bitcoin, there is a lot of confusion about what it actually is. Is it a coin or a token? Well, the answer is both.
Let’s take a closer look at what each term means and how they apply to Bitcoin.
A coin is a cryptocurrency that can operate independently of any other platform. This means that it does not need to be built on top of another blockchain and can have its own blockchain.
Bitcoin is an example of a coin.
A token is a cryptocurrency that is built on top of another blockchain. This means that it needs to be built on top of an existing blockchain in order to function.
Ethereum is an example of a token.
So, as you can see, Bitcoin is both a coin and a token. It can operate independently as its own blockchain, or it can be built on top of another blockchain as a token.