How are you all? I hope you are all doing well, Today I will talk to you about a very important topic, We often hear about Utility Coin, now what is this Utility Coin? This is a question asked by many, Today we will try to understand it in very simple language, Utility Coin is a type of cryptocurrency, whose main purpose is to provide a specific function or service on their own platform or blockchain network, However, it does not imply ownership of any asset, but rather provides access or use within a network,

How does Utility Coin work?
Usually, many development platforms or DApps users have to use their own utility coins to get certain services,
And this is needed in different cases,
So for example, let's know about some popular utility coins,

Image collect Pixabay

---

1-BNB Coin- Binance Exchange Trading Fee or used to participate in various events,

2-TON Coin- Telegram's own coin, usually TON Coin is needed as a fee for advertising and Ton Coin Payment is made as monetization income,

3-Steem Coin- This is a coin known and loved by all of us, it is usually used for Steemit Platform work, when users post, comment or share various content, they get Steem Coin as a reward,
Moreover, Steem Coin is needed to power up at different times!

Now many people may have a question, are these tokens that exist without their own blockchain utility coins?
-Yes
There are many popular utility tokens, such as

1. BAT - a token of the ethereum blockchain, it is Brave Browser's own token, it is usually used to watch ads or reward content creators,
2. CHZ - a token of Ethereum and BNB Chain, it is usually used as a fan token, such as voting for various clubs and getting exclusive rewards,
3. Uni - a token of the ethereum blockchain, it is Uniswap's own token, governance, but also has extensions in tax-related activities,
   
   Image collect Pixabay

---

There are also many popular utility tokens of other blockchains,
These coins are successful in long-term investments because they are used constantly, the team is always active, so they work on various upgrades day after day, I hope everyone understands that I am ending here today, everyone be well, Allah-Hafez