Payment Token

As the name suggests, payment tokens are classic cryptocurrencies that can be used as a means of payment.

Accordingly, they share characteristics similar to those of money. In addition, they are not subject to any specific project. As a rule, payment tokens have their own blockchain infrastructure on which the account balances (wallet) and transaction histories of the users are recorded.

Prominent examples of payment tokens are Bitcoin, Litecoin and Monero.

Similar terms

Token

Tokens can be described as digital units of value representing specific assets or utilities that rely on existing blockchain technology.

Personal Token

Personal tokens (also known as social tokens) are a special form of token that allow for investors to share in the issuer's (personal) earnings.

Security Token

A security token (also "equity token" or "investment token") is a cryptographic token that is tied to a value or security.

Utility Token

Utility tokens provide access to a product/service and/or represent the right to use a product/service or function of a project.