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What is Utility Token (Altcoin)

• Utility token is a type of cryptocurrency that is use for the purpose of accessing a certain product or service inside a blockchain ecosystem an as the name already suggest, it offer utility.
• For the sake of a better understanding, let’s just say that utility token is use to let you to get any service and product inside a blockchain. The utility that it offer can be vary depending on it’s use case.
• Two examples of a utility token is XRP (RIPPLE) and Solana (SOL). (I could say almost any crypto that has a use cases can be called utility token)
• As the meaning of this token already suggest, this type of tokens is to let you to access specific products and services in a blockchain. What type of service and product, you might ask. Actually there’s a lot that they can offer such as bridging currency across the blockchain, tokenizing a certain asset, offering a DeFi service and more.
• Some of the use cases that a certain utility token is offering can also be bad for them because there are a certain risk that they might get into, such as a legal trouble with a certain government agency.
• You might have heard about Ripple (XRP) against the SEC case where SEC trying to label XRP as a security but eventually fail in their attempt. The use case of XRP that was mislabeled by the SEC is one of the main reason that cause this legal dispute to happen. (Maybe)
• The Ripple win against the SEC might start a domino effect in helping other cases regarding a certain crypto that was labeled as security but it’s hard to know if most of the people in the crypto sphere will realize this.
• This article here is kinda short because I’m kinda lazy to write today, so just bear with it😂.

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