Knowing the Difference between a Cryptocurrency and a Crypto Token.

By Wolf2015 | My Crypto Info | 27 Jul 2023


Can you dertimine the difference between a Token and a cryptocurrency? Do you know a Cryptocurrency is either mined or staked? Do you know DASH is a cryptocurrency and not a token?

Cryptocurrencies.

 

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Cryptocurrencies such as Bitcoin, Litecoin, Dash, Dogecoin and some others are mined. This means there is a specific algorithim and mathamatical protocol that must be adhered to in order to earn these coins. Cryptocurrencies that are staked are very similar, however the algorithim is secondary as it has everything to do with the amount of coins you are holding. This type of cryptocurrency is earned by Proof of Work (POW) or Proof of Stake (POS).

 

Tokens.

 

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Tokens are neither truly mined or staked to earn. They are bought with cryptocurrency or fiat. They are also used in smart contracts. Since these coins are neither mined or staked I can not confirm any verification on the network. This is the true difference between Tokens and Cryptocurrency.

 

When it comes to your earnings, would you not want to know that your earnings are truly verified? Remember you are the one that decides what you will work on. You are the one that decides if they will take a chance on a coin that is not mined or staked. The overall decision is yours.

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Wolf2015
Wolf2015

Author, Veteran, Journalist, Investigator, Patriot. Determined to staying Curious as My teacher, who passed, always told me to do. Believe no one, Listen to everyone, but only trust what you yourself can verify with your own research. Never believe anyone


My Crypto Info
My Crypto Info

Education of cryptocurrency from a person who actually lives off of mining and how to understand the many ways you can earn. Must research all for yourself, because results can vary depending on your miner and internet connection

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