Currently, digital currencies and crypto tokens are the hot talks of the blockchain town. As we know, Blockchain is a prominent technology, and most global industries and companies have already started to adopt this technology for various use cases. The major industries that had begun adopting blockchain technology include banking, healthcare, finance, insurance, supply management, and other industries.
Blockchain includes a wide range of purposes like crypto token development, creating a crypto wallet, and developing a crypto crowdfunding platform, etc. The prominence of crypto token creation is increasing day by day as these tokens have specific functionalities when compared to digital coins. Also, the usage of crypto tokens is rapidly increasing on the flip side. That’s why many crypto startups and entrepreneurs are willing to create a crypto token. Before initiating crypto token development, many have an interest to know the cost to create crypto tokens.
Here, we shall discuss everything about the popular blockchains to create a crypto token, crypto token development cost, etc.
Let us kick off this blog with…
Best Blockchains to Create a Crypto Token
Basically, an entrepreneur creates crypto tokens with the token standards of an existing blockchain. There are numerous blockchains currently available in the crypto market. Based on the types of crypto tokens i.e. fungible and non-fungible tokens, each blockchain has its own token standards for each type and startups choose their desired token development platform for crypto token creation. Those popular token development platforms and their token standards include:
Ethereum Blockchain
- ERC20 for fungible token creation
- ERC721 for non-fungible token creation
- ERC1155 for semi-fungible token creation
Tron Blockchain
- TRC20 for fungible token creation
- TRC721 for NFT creation
BNB Chain
- BEP20 for fungible token creation
- BEP721 for non-fungible token creation
Rather than these, you can create crypto tokens with Solana, Polygon, and Waves blockchains for great results.
Alluring Features for Crypto Token Creation
Here, we list some of the important features that should be considered while developing a crypto token.
- Crypto wallet app for Android and ios
- Setting Initial Supply
- Fixing No of Issues
- Setting Fractions
- Deploy Contracts
- Generate Tokens
- Validate Contract
- Token swaps
- High-level safety & security mechanisms
Enabling these features will help you launch a successful crypto token. Once after fixing these exemplary features, you can execute your crypto token development effectively. Now, you might be interested to know the cost to create a crypto token. We cannot explicitly say the crypto token development cost. There are various factors that influence the cost to create a crypto token.
Factors Influencing Crypto Token Development Cost
The core parameters that influence the cost to create crypto tokens might involve:
Design of the Token
A unique design, name, and new symbol are required for an ideal crypto token creation. The token’s symbol should be more unique and outstanding than others. Many people will remember your token by the token’s symbol. Hence, based on your token’s interface and design, the crypto token development cost might vary.
Token’s Complexity
As an entrepreneur, you’ll hold an idea to create a premium crypto token more than others. Based on that, you’ll be thinking of including many extraordinary features in your token. In that regard, the complexity of the project might increase accordingly. Also, crypto wallet development is also mandatory for storing all newly created tokens. In that sense, the cost to create a crypto token might also be influenced based on the token’s complexity level.
Development Team
A certain group of developers is mandatory to create a unique crypto token. If the supply of tokens is low, then it can be developed with minimal developers. In cases of huge quantities, a bulk of developers will be needed to develop the crypto tokens within a specified time. In that sense, the development team plays an important role in fixing the cost of crypto token creation.
Nature of the Tech Stack
Every startup new to a crypto business will be willing to develop a crypto token with high-end technology stack. Going with the best technology only will help the business without any hassles. Thus, choosing the best tech stack will cost a lot. Pick the best technology stack based on your budget and decide the cost to create a crypto token accordingly.
Features and Functionalities
This is the crucial factor that influences the cost to develop crypto tokens. The functions that have to be included in the new crypto token will significantly vary from others and the cost also might be influenced based on it. As discussed above, the premium features that you include in your tokens will also influence the cost of crypto token development.
Token Creation and Testing
Once all the requirements are fixed, you’ll be approaching an ideal crypto token development company in the crypto space for getting your desired results. In that sense, they’ll charge some fee for working on your crypto token to make the output as you expected. Hence, the working fee will also play a vital role in deciding the crypto token creation cost.
All these major factors will play a major role in fixing the cost to create a crypto token. Even after considering all these parameters, you might be anticipated even to know the approximate cost to create crypto tokens. Thus, comes the following.
What Might Be the Cost To Create A Crypto Token?
The cost to create a crypto token might start from $4500. Some entrepreneurs will be curious to create crypto tokens along with a wallet development and it might cost from $5500. Not only the crypto tokens, but we also offer crypto tokens as a package of ICO script that comes with the end products of a crypto token wallet along with an ICO website. The cost of an ICO script might start from $8000. So, you can choose any of the optimal solutions that suit your business.
These are not the fixed cost as they might be influenced by the above-mentioned factors and also based on the development method you’re choosing further. A crypto token can be developed on your own and even various tools are there for creating a token. This can be executed only if you have good technical knowledge of crypto token creation to make it without any hassles. As a startup, you will be steady to create an efficient token to stand more successful than your competitors. Hence, getting the help of the best crypto token development company like Icoclone will help you catch your dream soon.
With Icoclone, you can create a crypto token for any use case like trading, staking, crypto crowdfunding, etc.
Why Create Crypto Tokens from Icoclone?
Icoclone is a top-notch crypto token development company in the crypto space. We are masters in creating a feature-rich crypto token for your business needs. Our seasoned team of developers will gather the user’s requirements and create crypto tokens accordingly. Our crypto token development comes at an affordable cost and many newly emerging startups are mostly preferring Icoclone considering our immense results.
The blockchain developers at Icoclone will create your crypto tokens in prominent blockchain platforms. We outperform in creating crypto tokens and offer premium ICO scripts, STO scripts, smart contract development, etc. You can contact our team to access any of the crypto-related services. Approach Icoclone immediately, create your own crypto tokens, and become a successful person in the crypto verse!!