What is Coin and Token?

Coin
It is the currency applied for blockchain projects sharing the same attribute with the traditional currency, and is also known as bottom layer that operates on its own blockchain platforms. To explain further, it's the native token created by the project team first, then issued on the bottom layer of its public chain. To be specific, there are BTC-BTC, BCH-BCH and ETH-ETH. 

Token
It is the project token with privileges built in, which then developed on the bottom layer of its public chain, namely as a certain DApp, smart contract and etc. By way of illustration, coins being developed on the bottom layer of its public chain are generally called Token. For instance, there are USDT-BTC, Spice-BCH, CET-ETH, etc.