So far we have used “cryptocurrency” loosely to mean any crypto asset. That is fine for a beginner and wrong for an interview. Not everything that trades on a crypto venue is a cryptocurrency. This lesson draws the line between a coin (the native asset of its own blockchain) and a token (an asset issued on top of someone else’s blockchain), explains the standards like ERC-20 that make tokens possible, and sorts tokens into the categories a trader needs to keep straight: governance, utility, security, and the one that matters most for trading, the stablecoin. Getting this vocabulary exactly right is a quick, cheap way to sound like you belong on a crypto desk.
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