I am thinking of buying one of these, which do you guys prefer?
P.S. It would be helpful if you owned both.
They’re quite different yoyos honestly.
Competition wise, I would go with the Protostar. It his better rim weighting, and is a more standard sized yoyo.
If you’re looking for a fun yoyo with a change from standard stuff, I’d suggest the C3 Token. For it’s price, it’s a hard to beat “mini” yoyo. It’s a lot of fun, and an absolute change from the standard stuff you’ll find, but you’ll also notice its stability isn’t the best around. Personally, I love metal yoyos, so this was a must try for me.
For learning? I’d go with the Protostar. It’s a good throw which can do just about everything you throw at it. 
If you’re interested in metal yoyos more, I’d advise looking at ~$50+ metals. The YYF Dv888 and C3 Di Base both come to mind. Hybrid throws around that price would be a good majority of YYJ throws, most widely known is YYJ Dark Magic II.
If you do not have an established yoyo collection (well rounded selection) go Protostar.
I want to get a nice Code 2 for a competitive yoyo and also one of these two. I want it to be more for fun than a serious competition yoyo and it sounds like the c3 fits more of that description. Is that true?
Well you see, C3 has REALLY ANGLED YOYOS. I think they’re meant for fast and speedy tricks, which One Drop…
I don’t know. I love both companies, but I would use c3 as my competition throw.
The Token does fit that description in that it’s more of a gimmicky yoyo than a serious performer. Saying that, I still find I get more “fun” from my ProtoStar than my Token.
I do own both.
(yeah, I know, dozens of people fell down from the shock)
Protostar I like better. Bigger, heavier.
The Token I look at as a pocket throw. The small size forces you to throw right and play clean. For that, it’s an awesome trainer as well.
Glad to have both.