Create your own crypto-currency token ETH, BSC, MATIC No coding required

To create a simple BEP-20 token, you’ll need some basic coding skills to deploy a smart contract to BNB Smart Chain. You’ll also need to have MetaMask installed and some BNB in your wallet to pay gas fees. If you’re creating your own blockchain or aren’t sure which one to pick for your token, think about the consensus mechanism you want. These mechanisms determine how participants confirm and validate transactions on the network.

• As such, we can use an ERC-20 contract template provided by OpenZeppelin and add a few lines of code to adjust it for our particular case.
• This method still requires advanced technical knowledge to avoid security vulnerabilities, bugs, flaws and other issues.
• Both networks allow for the creation and customization of smart contracts that enable you to create your own tokens and decentralized applications (DApps).
• Studying other projects and their launches to see what worked well and what didn’t can help with creating your own cryptocurrency.

Research successful launches by other chains and figure out what they did right and wrong. Compare their post-launch results with their tokenomics and network emissions. Now, write your whitepaper and publish it on your website.

Why Does a Blockchain Need Cryptocurrency?

At its cheapest, a simple token on BSC can be done for $50. When we average this out, to create a cryptocurrency with some chance of success, you’ll likely need to spend thousands of dollars on its creation, marketing, and community building. ProCoders is a company whose developers will help you solve the challenges of crypto token development with extensive knowledge of web development and token creation. We know how to make crypto tokens, and they will be happy to help you create one to take advantage of the blockchain technology benefits. A crypto token is a digital asset traded on a blockchain network. To buy coins online with your debit/credit card, you’ll need an exchange like Coinbase, which will also convert your dollars into Bitcoin once you’ve signed up for an account with them.

You can use the source code of another blockchain to create a new blockchain and native digital currency. This method still requires advanced technical knowledge to avoid security vulnerabilities, bugs, flaws and other issues. When an exchange adds a new ERC-20 token, really it just needs to add another smart contract it talks to. Users can tell that contract to send tokens to the exchange’s wallet address, and the exchange can tell the contract to send the tokens back out to users when they request a withdraw.

How to Create Your Own ERC-20 Token in 10 Minutes – Summary

We will not deploy our contract to main network as this is just demo. When the extension is installed, click on the icon in the upper right corner of your browser to get started creating a wallet. I will name it “BlockonomiToken”, you can choose whatever name you like for your own cryptocurrency. The tokens sold are promoted as future functional units of currency if or when the ICO’s funding goal is met and the project launches. After minting, your tokens will be immediately available to you and can be offered for sale on most decentralised exchanges immediately.

You can download the code for this smart contract from from github here. Whenever a crowd sale ends, it can be finalized by an administrator. Whenever this happens, all of the reserved tokens will be distributed to the appropriate accounts and the crowd sale will officially be over. They can also have a reserved amount of tokens that are not sold in the crowd sale.

Check Mark Settings In Token Create

Therefore, we launched Token Tool by Bitbond to make tokenization more accessible and enable  the effortless creation of smart contracts with simply a few clicks via a web3 platform. Crypto tokens are smart contracts that run on existing  blockchains that supports smart contracts creation (e.g Ethereum). It is important to note that while a token is a crypto-asset, it is not a cryptocurrency such as ETH, the latter is native to its own blockchain, while the other is created on that blockchain. A token in cryptocurrency is a digital representation of an asset or utility that resides on a blockchain. It is a fundamental concept in the world of blockchain technology and plays a crucial role in enabling various functionalities within decentralized ecosystems.

To create your own coin, you’ll need to think about designing or hiring someone to create a custom blockchain. Bitcoin is the most famous example of a cryptocurrency. It has a simple use case of transferring monetary value to anyone across the globe without the need for intermediaries. Its blockchain records all transactions and ensures security and network stability. A cryptocurrency, also known as crypto, is a type of digital asset with multiple use cases. It’s primarily a way to transfer value between people digitally, including monetary value, ownership rights, or even voting privileges.

A Comprehensive Guide on How to Create a Token

To assess the functionality of your token, a test network can be used. Minting a token on a test network is similar to creating a token on the actual blockchain. However, you pay gas and service fees using faucet coins.

You can create an Ethereum token with a smart contract. ERC-20 is a standard that specifies how this token smart contract should work. You can watch me build the ERC-20 token and crowd sale in the 8-hour tutorial video above. I’ll also guide you through the step-by-step instructions in this tutorial. You can download the full source code to this tutorial from github here. Before we start building the ERC-20 token and crowd sale, I’ll answer a few questions first.

Deploy a token to your preferred Blockchain

While pretty much anyone can create a cryptocurrency, developing a solid project requires serious work and dedication. Creating a token requires less expertise and effort than making a crypto coin. A coin will usually need a team of developers and experts to make it.