Question

What is a utility token?

Answer 1

A utility token is a type of cryptocurrency token that is used to access or pay for a specific service or product within a blockchain platform. It provides users with access to a product or service offered by a company, and its value is based on its functionality or use within that particular ecosystem. Utility tokens are not designed as investment vehicles but rather as a means of transaction or participation within a specific network or platform.

Answer 2

A utility token is a type of cryptocurrency that provides users with access to a product or service. It is not designed as an investment or security but rather serves a specific function within a blockchain ecosystem. Utility tokens are often used to pay for transaction fees, access certain features, or participate in a platform's services.