Cryptocurrency tokens and coins are two different forms of digital assets, both having distinct characteristics with varied associated usages. Both are valuable tools in the increasingly popular cryptocurrency industry but serve very different purposes. What is a crypto token? A token is a digital representation of value, be it an asset or utility. Although many tokens are based on the Ethereum blockchain, they may also reside on other platforms. They can represent anything from raw materials to currencies to loyalty points and more. Tokens are used for a variety of purposes such as access control, rewards, or voting in a decentralized system. Tokens are generally created by projects that wish to raise money through token sales, or Initial Coin Offerings (ICOs).