Create Your own Cryptocurrency Token Without a Single Line of Code

One such token is exactly the same as another fungible token from the same blockchain-crypto project. This team needs a software architect and a few business analysts. The ERC-721 token standard, on the other hand, is the dominant token standard for the creation of Non-Fungible Tokens (NFTs).

• Well, when you mint tokens (execute a transaction that stores your tokens on-chain), you need to pay gas fees.
• The tokenomic system will be much more straightforward to craft while the token or coin project grows.
• Instead, everything is handled by a single operator in their own web browser.
• Developers don’t need to develop new cryptographic algorithms for this.
• An exchange is the logical place to start for coin creators, an exchange can more easily manage the coin set up, market and pricing.
• After the initial coin creation process, you will probably decide to list on a DEX which will require yet again multiple on-chain payments for registering the coin on the DEX.

Below, we explain four different ways to create your token the way you want. There are plenty of developers and companies that can do the technical work and then hand you a finished product. It offers the Ethereum Virtual Machine (EVM), a popular platform for developing blockchain applications. To assess the functionality of your token, a test network can be used.

How to Make a Cryptocurrency

The most common kind are tokens based on the ERC-20 token standard, which are built on the Ethereum chain. Moreover, let’s also mention that in the case of Ethereum, its native token (coin) is ETH. Now that you know what tokens are, we can move on to the word “testnet”. For example, instead of launching the token on the blockchain as a first step, users can simply create the token within the exchange software itself first internally. This means no blockchain fees and less complications in the coin-creation process.

Then, once you learn to create a free token, you will be able to use that knowledge and apply essentially the same steps to create ERC-20 tokens on the mainnet. When developing a coin, you need to fork (copy) or create a brand new blockchain. And when you build a cryptotoken, you develop a smart contract. They run on a blockchain and power DeFi and other decentralized apps, allowing users to interact via transactions. At the same time, any transaction is available for anyone on blockchain explorer sites like EtherScan.

Step 4: Select a Network and Token Standard (ERC-20, ERC-721 or EVM equivalent)

After registration has been completed successfully — it’s time now for announcing publicly both locally and internationally through various social media channels. Social media platforms can help spread the word even further via influential people endorsing cryptocurrency launches on such mediums. You should now see that the tokens have been minted and sent to the wallet that created the smart contract.

The editors are not responsible for the decisions you make on the above web resources. Make sure the site is secure before creating tokens on it. Today’s result does not guarantee the quality of services in the future. This is a guide for creating your own cryptocurrency token on any OS. For the purposes of this tutorial, I will only be putting my token on a test network but I will also show how to put it on the Main Ethereum Network. Although your token will not be worth anything, it will still be transferable through MetaMask.

How to Create a Crypto Token in 4 Steps

Click “Confirm.” After that, ETH will be debited from the test balance, but new tokens will not appear anywhere. Your wallet most likely does not yet support a smart contract with new tokens. At the time of this writing, creating a real token through cointool.app will cost you a pretty penny. What is the difference between a real token and a test one? Having created a real token, you can list it on trading floors and trade. It is unlikely that it will be possible to crank up a listing with a test one.

A pop up window will appear with the multiple supported wallet options. Copy the code from your BEP20_flat.sol into the field, and ensure [Optimization] is set to Yes. You could also look at sidechains that use the security of a larger chain like Ethereum or Polkadot but also provide some customization.

Step 2: Develop a smart contract

This is one of the most important steps of launching your own cryptocurrency. If you want to create a cryptocurrency that will become successful, make sure the front-end part of your project is all top-notch. The website, the databases, and so on are the things that your clients and users will be interacting with, so they need to be presentable and suit your project. Create a social media presence and carefully curate it, write a white paper – design your crypto’s interface in a way that will attract users to it, instead of scaring them away. In order to create a cryptocurrency, it is important to understand the difference between a token and a coin.

Readers are advised to verify information independently and consult with a professional before making decisions based on this content. It means the difficult stages of a coin’s life cycle can be more easily managed because it provides greater control and optionality. Frankly, coins without a clear brand or home are doomed to fail.

Step 3: Research network for issuance if not chosen yet

To be able to create tokens using Bitbond’s token tool, you need first make sure that you own one of the supported crypto wallets. Supported wallets are MetaMask, Coinbase Wallet, and WalletConnect. It is critical to use a reputable wallet, so make sure to do the proper research prior to using any wallet.