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What is a crypto token?

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What is a crypto token?

In the realm of cryptocurrency, a crypto token is a digital asset built on top of an existing blockchain network. Unlike cryptocurrencies, which have their own independent blockchains such as Bitcoin and Ethereum, tokens are created within these existing blockchain systems. The primary distinction between a token and a coin lies in their underlying infrastructure – coins have their own unique blockchain, while tokens are developed on top of existing blockchains.

When it comes to utilizing crypto tokens with NOWPayments, the service supports a wide array of tokens, providing seamless integration for businesses to accept payments in various forms. As of now, NOWPayments supports a substantial number of tokens, including those built on popular platforms like Ethereum, Binance Smart Chain, Tron, and others. By incorporating a diverse range of tokens into its system, NOWPayments facilitates the acceptance of payments from customers using these tokens, expanding the accessibility and utility of crypto transactions for businesses.

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