The recent few years have witnessed the rise of cryptocurrencies. Many new crypto coins and tokens are created every day and they are getting a good name in the crypto market. As all cryptocurrencies are created on the blockchain, they are considered highly secured, immutable, etc.
Basically, crypto tokens are created during crypto crowdfunding like initial coin offering, security token offering, initial exchange offering, etc. During crypto crowdfunding, funds are raised and crypto tokens will be offered in return for the investors.
In this article, we shall discuss crypto tokens, how to create them, their benefits, etc. Come, let us begin this article with…
What is meant by crypto tokens?
Crypto tokens are virtual tokens that have functionalities similar to Bitcoin. It represents a utility so it can be used similarly to fiat currencies. In simpler words, crypto tokens are created on the existing blockchain. Crypto tokens are generally divided into several categories like fungible, non-fungible, and semi-fungible tokens.
Each blockchain has its own token standards for crypto token creation. For instance, Ethereum has ERC20, ERC721, ERC1400, ERC223, ERC1155, etc. Similarly, Tron and BNB chain have TRC20, TRC721, BEP20, BEP721, etc. You can use any of these token standards for creating your own crypto token.
Here, I shall list some of the popular crypto tokens in the crypto marketplace.
- Chain link
- Yearn finance
- Binance USD
- Compound
- Maker
- Wrapped bitcoin
- Uni swap
- Huobi token
- Basic attention token
Excellent features of crypto token development
- Crypto token mobile wallet app for android and ios
- Setting Initial Supply
- Setting No of Issues
- Setting Fractions
- Deploy Contracts
- Generate Tokens
- Validate Contract
- Token swaps
- High-level safety & security mechanisms
The below-mentioned are the crucial features that are involved in crypto token development. Many entrepreneurs are interested to create crypto tokens inspired by these features. Before deciding on crypto token creation, you might have an idea to know about the cost to create a crypto token.
Cost to create a crypto token
Before deciding to buy or start anything, everyone will know about its cost at first. The crypto token development cost is not a fixed one. It is influenced and decided by various factors as mentioned below.
Crypto token development platform you choose( blockchain)
- Design of the token
- Features of the token
- Total count of the tokens
- The complexity of the project
- Size of the development team
- Distribution
- Support and maintenance
These are the factors that play a major role in deciding the development cost of a crypto token. But, there is an approximate Cost to Create a Crypto Token. The average cost for creating a crypto token might start from $5k. It might change based on your business requirements.
As said earlier, crypto tokens are created mostly during crypto crowdfunding platforms. So, crypto token creation comes as a whole package as ICO script, STO script, wallet creation, etc. The cost for those scripts might start from $8k. You can add or customize the features based on your requirements.
This is the basic information about crypto token creation. If you wish to create a crypto token effortlessly, you can approach a reputed crypto token development service provider in the crypto ecosystem for better results!!!