Crypto Token Creation – The Complete Guide for Startups and Entrepreneurs

Crypto Token Creation - The Complete Guide for Startups and Entrepreneurs

In today’s digital world, everything is completely digitized with the help of advanced innovative technologies. One such innovative technology is blockchain and cryptocurrencies. Blockchain is a type of complex technology that is used in several industries as security software.  On the other hand, cryptocurrencies and crypto tokens are gaining immense popularity among investors across the globe. It is due to its beneficial factors and the positive impacts in the marketplace.

Thus, cryptocurrencies and crypto tokens have emerged as one of the most successful technologies ever. As of now, many global companies and financial sectors started accepting crypto tokens and cryptos as their payment. So it’s no longer possible to avoid or ignore digital currencies. But cryptos and crypto tokens are far from perfect. Even the world’s most prominent digital currency, Bitcoin and Ethereum have their flaws.

Currently, there is an upsurge in the usage of Crypto tokens. Because many users and investors are trading crypto tokens from the reputed exchanges. Also, some are buying ICO tokens in the ICO token sales platform. This attracted many startups and enterprises to approach crypto token development company. If you are a startup willing to create a crypto token but you aren’t aware of Crypto token creation. Then this innovative article will be helpful for you…

This article navigates to the complete guide on crypto token development with all the essential parameters that you need to know. Now, let us begin with…

What is a Crypto Token?

Crypto token is a kind of digital asset that has different features and functionalities than altcoins and bitcoins. Other than bitcoin, all cryptocurrencies are known as altcoins and crypto tokens are a representation of utility or asset. Crypto token also represents a specific fungible and tradable asset over an ICO that is completely developed on the blockchain network. Startups and entrepreneurs often use these crypto tokens to raise funds on crowdfunding platforms. Like ICO, IEO, and STO. 

However, the crypto tokens operate on the top blockchain network. It acts as a tool or medium for the creation & execution of decentralized apps, smart contracts, and is used to facilitate secure transactions. Crypto tokens are usually created and sold through the standard initial coin offering (ICO) process that involves crowdfunding mechanisms.

These crypto tokens often serve as the transaction units on the blockchains that are created using the Ethereum network. It is a kind of open-source blockchain network and permissionless. So it allows users to create their own tokens on the Ethereum blockchain. Such blockchain networks also work on the concept of smart contracts development and Crypto token creation. Here the self-executing code is completely used to perform and manage the different transactions that are occurring on the blockchain.

Now, let us see…

Best and Popular Crypto Tokens in the Marketplace

Here we list some of the best and trending crypto tokens that are revolutionizing the crypto marketplace.

  • Tether
  • Chain link
  • USD coin
  • Yearn finance
  • Binance USD
  • Compound
  • Maker 
  • Hedge trade
  • Celsius 
  • Wrapped bitcoin
  • Uni swap
  • Huobi token 
  • Basic attention token and much more

These are the prominent crypto tokens and each has different features and functions. These crypto tokens are successful in the market because these tokens are completely developed with the help of a professional crypto token development company. Thus, choose the right crypto token development company for creating your own crypto token. 

There are some major differences between a Crypto token and a crypto coin. So, now let us see…

Difference Between Crypto Token vs Cryptocurrency

It is essential to know the differences between the crypto token and the cryptocurrency. There is not much of a difference between a crypto token and a crypto coin. The main difference is that the cryptocurrencies like bitcoin, Ethereum, and ripple operate on their own blockchain. Whereas the crypto token lives on any of the token development blockchains like Ethereum or Tron. There are also some other differences between crypto coin and crypto token that you need to know. 

Crypto Tokens are a store of value so they can be an asset token, equity token, security token, or whatever it may be. But a cryptocurrency does not have a physical existence during a transaction. All the transactions of the cryptocurrencies are made in crypto exchange and other digital mediums. But when it comes to value, it will increase based on the crypto market. Users can trade cryptocurrency for some other coins and the essential thing is that users cannot stake & leverage the number of cryptocurrencies that they hold like Fiat currency. Only the price of the crypto that you hold will change and not the count. 

When it comes to crypto tokens, they are attached to any other existing blockchain and do not have a separate blockchain like a digital coin. If you are creating a crypto token on any of the existing blockchain network. Then you need to pay a certain amount of fees to that particular blockchain ecosystem. For example, if a crypto token is developed on top of the Ethereum blockchain, then that token issuer must pay an Ethereum gas fee to hold on to that blockchain. Other examples are Tron, NEO, or DASH. 

In this digital era, Anyone can create a crypto token by utilizing the existing blockchain. For instance, a person who is willing to raise the funds on an ICO platform can create a crypto token and link with the Ethereum blockchain or else Tron blockchain. But in this case, if a person is willing to develop a cryptocurrency, then he/she needs a separate blockchain network, coin listing pair, and more. 

You might ask why to create a crypto token rather than creating a cryptocurrency?. The answer is, for creating a crypto coin, you must have an own blockchain. But it is more expensive and takes a lot of time. Whereas for developing a crypto token, you don’t need to have a new blockchain, you can create a crypto token from the existing blockchain. Also, it is not expensive and doesn’t take lots of time. That’s why people are showing their interest in developing a feature-rich crypto token rather than a digital coin.

Types of Crypto Tokens

As we previously mentioned that tether, yearn finance, etc are popular crypto tokens. But the innovation of crypto tokens did not stop. Many different types of crypto tokens were introduced in the market to support different applications. The creation and growth of the Ethereum, TRON, and BNB chain gave birth to the new crypto tokens. Depending on the application and functions, different types of crypto tokens are existing in the market. Such as 

  • Utility token
  • Security token
  • Asset token
  • Currency tokens
  • Loyalty tokens

Now, let us see the above types of crypto tokens in detail.

1. Utility Tokens

Utility tokens are completely designed and developed to use in a particular blockchain ecosystem. The major use of a utility token is as a payment option for buying within the platform. Utility tokens will be first released by a company to provide its users with a mechanism to pay for a new product or service. For instance, many popular crypto exchange platforms issued their own crypto token to their users for trade to reduce the trading fees.

As of now, many firms are using Ethereum, Tron, and BNB chains to create utility tokens. These blockchains have a major standards like ERC20 for Ethereum, TRC20 for Tron and BEP20 for BNB chain. Also, these three utility token types are famous in the crypto marketplace. Thus, many startups and entrepreneurs prefer ERC20 token development, TRC20 token development and also, and BEP20 token development. These kinds of crypto tokens are probably developed on advanced blockchain networks. It will be beneficial if you buy utility tokens during the ICO token sales. Then the tokens will be significantly at a lower price than the market rate.

2. Security Tokens

Security tokens represent the fractional ownership of any real-time asset. These tokens are completely developed under the SEC Guidelines and the country’s regulations. However, security tokens offer higher liquidity, regulatory compliance, good transparency, and much more. Like utility tokens, these tokens can be also traded on an exchange platform

Security tokens are usually developed by pegging any securities of the token issuer. Some security tokens can also be equity tokens. Security tokens are completely backed by tradable assets. These tokens act like a stock or share of the company and it is given to the buyer once the STO ends. By purchasing security tokens, you get some rights along with sharing in the company stocks.

Security tokens are completely different from utility tokens. Because they are limited by some federal laws and rules of stock trading. Security tokens can also be accessed outside of the platform on which they are developed. The value of security tokens may upsurge or fall according to the performance of the project. 

3. Asset Tokens

Asset-backed crypto tokens are said as asset tokens. Asset tokens are one of the ideal Blockchain applications. These tokens help to facilitate the cost-effective, secure, and instant trading of real-world assets. In basic words, asset tokens are completely backed by real-time assets. such as gold, silver, real estate, and bonds are called asset tokens. These tokens have the value of backed real-time assets and can be used for buying and selling other digital assets. Thus, it improves the trading of real-world assets on major digital platforms. 

However, security tokens offer secure, reliable, and minimal costs of trading for traditional assets with the help of Blockchain Technology. The owner of the asset token owns a piece of a real-time asset that is tangible and has ownership rights. Asset-backed crypto tokens are basically classified into four different types. Such as

  • Debt token
  • Commodity token
  • Real-estate token
  • Non-fungible hard assets
  • Non-fungible soft assets  

4. Currency Tokens

A currency token acts as the fiat currency and is used for payment and purchases. For example, bitcoin is a type of digital currency that can be used for buying and selling digital assets with merchants who accept bitcoins. Currency tokens can also be used for exchanging other digital currencies and fiat currencies. Also, it can be sent to other users through a crypto token wallet.

5. Loyalty Tokens

A loyalty token is a kind of special token that is completely developed to act as a reputation token for a specific blockchain application. Loyalty tokens will help you to improve and provide a better experience for the users on your platform. These tokens are given as rewards or free to someone as a credit. A loyalty token does not have any real value.

I hope you have understood the concept and types of crypto tokens that are existing in the market. If you have any idea about a crypto token creation, then you need to have a crypto token wallet app for your tokens. Thus, you must approach the best crypto token wallet app development service. 

Crypto Token Development Platforms

For any development process, there will be a platform. Likewise, for crypto token development there are three main types – Ethereum, Tron, and BNB chain. Despite there are various blockchains where a startup can develop a token, but the most trusted and functional blockchain is Ethereum, Tron, and BNB chain. These are the most preferred crypto token development platform by startups and entrepreneurs in recent years. Because these three are open-source platforms via public blockchain. Anyone with this blockchain(Ethereum or Tron or BNB chain) can create a fully functional crypto token easily. 

As we know Ethereum is the second-largest digital coin and has a huge trade volume in the crypto marketplace. By using the Ethereum network, one can create an Ethereum-based crypto token easily by following some essential factors. Similarly, Tron tokens are built on top of the Tron blockchain. On the other hand, you can create Binance-based tokens on the BNB chain. Ethereum has more than 10 token standards such as ERC20, ERC721, ERC1400, and more. Each ERC token standards differ in its unique functions. But the most popular and preferable ERC token standard for creating Ethereum-based crypto token is ERC20 and ERC721. Similarly, the Tron blockchain also has its unique TRC token standards. Such as TRC10 and TRC20, so you can create a Tron token on either TRC10 or TRC20 token standards. While speaking of the BNB chain and its token standards, They have BEP20, BEP721, etc. BNB chain offers numerous advantages to the token creators. So, you can create a crypto token using the BNB chain.

Now, you may have a question like…

How to Create a Crypto Token?

Nowadays, Creating a crypto token with desirable technical features is not a tedious task. Before you create a crypto token, you need to decide whether your project is based on Ethereum or Tron. Since there are already many blockchains, but as already said, these two are the best crypto token development platform. If you are planning to create a token on the Ethereum blockchain, then you need to decide on the ERC token standard. such as ERC20, ERC621, ERC721, ERC 827, or whatever. Make sure you need go with an ERC20 or ERC721 token standard. Else, if you are creating a token on the Tron blockchain then you can either choose TRC10 or TRC20 token standard. If you are wishing to create a crypto token using the BNB chain, then you can go with BEP20 or BEP721 token standards.

If you are a blockchain tech expert and well-versed in coding. Then You can select your desired programming language and get started with coding the smart contracts. Test the Smart Contracts, Validate your crypto tokens, and check whether they are working well or not. Finally, you need to deploy the code in the specific Blockchain that you have chosen for the crypto token creation.

However, this can be a difficult task and would require more amount of time for crypto token development. So you can get in touch with a professional Crypto token creation service provider – Icoclone to develop a secure crypto token of your choice. One of the essential factors is, While creating a crypto Token, it must comply with the Token Standards. Even though you are developing a crypto token with the help of a crypto token service provider, you need to consider the following factors.

  1. Token Name and symbol
  2. Number of tokens for sale
  3. Ability to get token wallet balance
  4. The functionality of transferring your Crypto tokens between the wallets

After creating your crypto-token, your Smart Contract will store all the information on it. So it can be beneficial for the future. Your crypto token can be utilized in distinct ways. Such as for trading, spending, giving away, and token crowd sale. 

Once your crypto token is created, then you need to have a crypto token wallet app for your tokens. Thus, you must approach the best crypto token wallet app development service offering company.

Crypto Token Wallet App Development

The Crypto token wallet app is a type of crypto wallet that is basically used to store, receive, and transfer crypto tokens. Our crypto token wallet app can be easily accessed without any kind of difficulty. Token Wallet app functions with the help of the internet. Also, we can say that all the crypto token transactions are at your fingertips. Crypto token wallet app development can be categorized into different types based on the platform of the crypto token wallet app and the crypto token support.

  • IOS & Android Mobile Token Wallet App Development

We develop a crypto token wallet app for both iOS-based and android based mobile devices. We provide the finest mobile wallet app development service which has an attractive user-friendly interface. Also, our crypto token mobile wallet app is completely secure and easy to use.

  • Multiple Crypto Token Wallet App Development

As of now, there are many crypto tokens available in the market. Using our token wallet app development service,  you can create a mobile app that supports multiple crypto tokens. We have great experience in offering multiple crypto token mobile wallet app development services.

Now, let us see…

Desirable Features of Crypto Token Development

Here we list the essential features that you must enable while creating a crypto token.

  1. ERC2O contract generation
  2. Crypto token wallet app for Android, ios, Web, and Mac
  3. Setting Initial Supply
  4. Setting No of Issues
  5. Setting Fractions
  6. Deploy Contracts
  7. Generate Tokens
  8. Validate Contract
  9. Token swaps
  10. High-level safety & security mechanisms

Benefits of Creating a Crypto Token 

There are endless perks when you create your own token on either the Ethereum blockchain or the Tron blockchain. Here we list some of the benefits of crypto token development.

  1. Middleman free transaction
  2. Anonymity 
  3. Globalized instant and secure transaction 
  4. Our token wallet app supports Android, IOS, Mac, & Windows.
  5. Customizable interface
  6. P2P Decentralized network
  7. Supports Multiple Crypto tokens
  8. Limitless data
  9. Cost-effective transactions
  10. Easily trackable options and more

These are the essential advantages of crypto token creation. 

Why choose Icoclone For Crypto Token Creation?

Icoclone is the best and leading Crypto token development company in the crypto space. Being an early bird in the industry, we excel in offering all types of crypto token development services with impeccable outcomes. Our reliable token development services include crypto token creation, stablecoin development, ERC20 token development, TRC20 token development, BEP20 token development, security token development, and much more. Apart from these, we are also masters in offering feature-rich ICO launch services at the best market price. 

If you are looking to create a unique crypto token using advanced blockchain at a reasonable price. Then we are here to guide you right from scratch to deployment. 

If you have any queries on Crypto token creation, then contact us right now!

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