Introducing Beep Token
Since Bitcoin has become very successful and popular, various companies have started launching new cryptocurrencies. Cryptocurrencies use a security network called blockchain, and each coin has its special blockchain.
With an uptick in cryptocurrency numbers, some companies have decided to launch new tokens using other blockchains instead of spending exorbitant costs to set up their own. Cryptocurrencies set up based on other blockchains and do not have an independent blockchain network for themselves are called "tokens". For example, Ethereum and Tron are among those coins that host many new tokens. This means that many new tokens use Ethereum or Tron blockchain. So one of the differences between a coin and a token is holding an independent blockchain.
There are many new tokens on the cryptocurrency market. Tokens are made to use services in a special platform or company. For example, a token is like the movies ticket that you can only use in that movies. But the coin is like a fiat currency which you can spend in all the related centers.
Tokens are usually presented as ICOs. During an ICO, the token owner company extracts it and makes it available to the public. Therefore, tokens cannot be extracted like coins.
What is the Beep Token?
Beeptory site has its token which is called "Beep token". Beep is one of the new utility tokens that can be utilized for Beeptory site services.
You can use Beep tokens for services like buying and selling cryptocurrency signals and safe swaps.
As you may know, Beeptory has a social network for buying and selling cryptocurrency signals, available for traders and the public. All services of this network are performed using Beep tokens.
What is a utility token?
Utility Tokens are designed to use on a specific platform. These tokens are like tickets that give access to an event, like a sports match or a theater.
As mentioned, Beep Token is a kind of utility token and is available for use on Beeptory's website and social network services.