Coins and altcoins are digital currencies that operate on their own blockchain network, while tokens are digital assets that operate on an existing blockchain, usually as part of a smart contract. Coins and altcoins have their own value and can be traded independently, while tokens derive their value from the underlying blockchain network and are often used to represent assets such as stocks or commodities. In crypto trading, understanding the differences between coins/altcoins and tokens is important for making informed investment decisions.