token

Token is just another word for “cryptocurrency” or “cryptoasset”. But increasingly, it takes on somewhat more specific meanings depending on the context. First, describe all cryptocurrencies except Bitcoin and Ethereum (even though they are technically tokens as well). The second is to describe certain digital assets that run on top of the blockchain of another cryptocurrency, as many decentralized finance (or DeFi) tokens do. Tokens have a huge range of potential functions, from helping with decentralized exchanges to selling rare items in video games. But all of them can be traded or stored like any other cryptocurrency.