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A crypto coin is the digital version of underlying value, which might be debatable, whereas tokens carry the asset or deeds . One can buy tokens with coins, but some tokens can carry more value than any of them. For example, equity shares of a company.

Cryptocurrency received its name because it uses encryption to verify transactions . This means advanced coding is involved in storing and transmitting cryptocurrency data between wallets and to public ledgers.

There are now more than 12,000 cryptocurrencies, and what’s truly astonishing is the growth rate. The number of cryptocurrencies more than doubled from 2021 to 2022. At the end of 2021, the market was adding about 1,000 new cryptocurrencies every month.