In crypto, a token represents a digital currency or cryptocurrency that can be traded and used on a blockchain network. Crypto tokens represent an asset, such as a stake in a project, and have an intrinsic value.
Tokens can be used as a medium of exchange, a form of investment, or a store of value. Crypto tokens can also be used to make online payments over a blockchain network in a peer-to-peer, trustless, and efficient manner.
Some tokens, such as altcoins, serve as the native digital assets of blockchain networks. Others created as an initial coin offering (ICO) could represent a stake in a crypto project and be invested in to help raise funds for the particular project.
