S4B Crypto Contest - Season 11

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Salutations to everyone! I believe you all are doing well. Thanks to @waqarahmadshah for bringing up this contest titled:S4B Crypto Contest - Season 11, in Steem4Bloggers community.
Here is my writings👇

The very word Crypto is derived from the word cryptocurrency in it short form. And many people normally prefer the short form crypto.

For example we can take them as two different special money in a pocket. One is like the normal physical money we use every day, and the other is like a gift card or a ticket. In the digital world, these are called crypto coins and crypto tokens.

So now what is the main difference between them

• Crypto Coins: The Digital Money

Crypto coins are like some money we have in our wallet. Just like every country has its own currency, example in my country Nigeria,we have the Naira. Crypto coins have their own special or particular place where they are used, which is called a blockchain. And Bitcoin is the biggest and famous crypto coin. It was the first crypto coin and it has its own blockchain, just like Nigeria has the Naira.

• Crypto Tokens: The Digital Tickets

Crypto tokens are different. They are just like tickets or voucher, we can use them to enter big places without paying our physical money. Or they can be used to buy or show we own something, like a part of a share in a company, or even a promise to get something later.

The main difference between a crypto coin and a token is where they come from and what they do. Crypto coins are made to be money and are used on their own blockchains. While Tokens are made on blockchains that already exist and can do lots of different things, not just be money.

Example👇

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Yes, tokens can be much more than currencies (money). They can represent all sorts of things. For example, there’s a token that says we own a particular place or we have a land or house which we can used later. Although you can’t bring the land or your company into your house, you still own a part of it because of the token you have. There are tokens for music, videos or services like getting your computer fixed.People make crypto tokens for different reasons. Sometimes, they create them to raise money for new projects. Others make them so people can use them to buy services or get special benefits in a digital world, like in video games or online communities.

Bitcoin is the senior boss of crypto coins. With the name Bit-Coin ,it indicate that it is a coin not a token. Bitcoin showed everyone what a crypto coin could be and it started the whole idea of digital money. Bitcoin has its own blockchain, and it’s used just like money. You can buy things with it or save it and wait for it to becomes more valuable.

🤔Firstly whats volatile?🔃

Volatility,is the process that indicates how much the price changes. If something is indicate to be volatile, it means its price goes up and down a lot. Crypto tokens can be more volatile than coins because they are often used for new projects that are just starting. These projects can be risky, and it can makes the price of the tokens go up and down more than crypto coins.
But in all remember,all cryptocurrencies, both coins, and tokens, can have big price changes.

In Conclusion

Crypto coins and tokens are two sides of the same coin,in a Blockchain. Coins are the digital version of money, and tokens are like special tickets that can do a lot of different things. Both can be exciting to use and own, but it’s important to know that their prices can change a lot. So, if you decide to get some, be ready for the ride!

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I'll like to place my humble invite to:
@bossj23,@goodybest,@kidi40 and
@alli001 to joined me in this contest.

Thanks for stopping by

Cc:
@waqarahmadshah