Learning the Quests but I am not sure how to use a Wizard Token. Is it beneficial to use them or sell them?
I would use them; when items stock in the Token Shop it's useful to have plenty of tokens in order to buy one.
Tokens are also required to use both pet zappers, play Carnival games, purchase from Blackheart Hollow, and use vending machines.
It's up to you, really. Recently I've been selling most of mine because I don't zap much and their prices have been inflated as hell thanks to the anniversary celebration. I'd recommend keeping at least several hundred on hand for Token Shop restocks.
Vending (GA can vend up to 500x a day at 2 tokens per) can be one of the quickest ways to make money in your shop. It depends. Everybody's got a different way of doing so, but I like to vend at least 5 days a week.
You can add your wizard tokens to your currency storage by selecting Personal > Vault > Currencies (and then selecting Wizard Exchange), or by clicking "Other currencies" on your user dashboard. I store them in my currency mostly, but sometimes I'll give them away during the Luminaire event in December.
I hoard mine personally. They come in handy for zapping, certain games, etc. That said, vending is an excellent way to earn money if you're desperate.
I'm in agreement with everyone else here. I never sell them (unless they go sky high and I happen to notice it) in fact I buy them from ppl who DO sell them since I don't do wizard quests very often.
I like to have them on hand for TS restocks and I usually make sure that I have at least 1000 in the currency bank at all times, the rest I keep in my vault. But you can keep them ALL in your currency bank because if you ever need to get them out, or just make one token for any reason, such as if you want to give them out as gifts, you can make them of any denomination by taking them out of the currency bank in the amount that you want the token to be. I hope that made sense.