What are the Functions and Benefits of Crypto Tokens?

[Suba]

Crypto tokens don't have their own blockchain and must therefore utilize other blockchains, such as ERC-20 tokens, which are the standard tokens that operate on the Ethereum blockchain. Tokens also have market value, allowing them to be traded or swapped.

There are many benefits and functions of tokens within a blockchain system, so each token will have different functions and benefits. However, in general, what are the functions and benefits of crypto tokens?

 

[Kross]

The major benefit of crypto tokens is for making payments. They always have low transaction fees most times.

 

[Nomad]

The major benefit of crypto tokens is for making payments. They always have low transaction fees most times.

Frankly speaking, tokens aren't used for making payments, most tokens have higher fees. When it comes to making payment, people always use crypto coin.

 

[Augusta]

Crypto tokens utilize existing blockchain technology and smart contracts to automate transactions and secure online payments.