What are the differences between coins, tokens, and altcoins?

Coins: Coins are a digital asset that uses its own blockchain to store and manage the transactions. Examples of coins include Bitcoin, Litecoin, and Ethereum.

Tokens: Tokens are an asset that is issued on top of existing blockchains such as Ethereum and Bitcoin. Tokens are usually created in order to be used within a specific project, and they generally provide access to certain features or services. Examples of tokens include Tether (USDT) and Binance Coin (BNB).

Altcoins: Altcoins or “alternative coins” are cryptocurrencies which are not Bitcoin. Examples of altcoins include Ethereum, Litecoin, and Ripple. Altcoins typically use their own blockchain and provide various features such as smart contracts, faster transaction times, low transaction fees, and higher privacy.