Crypto token is a very common word that you must have heard in the world of cryptocurrency or online trading. Infact, there are chances that you have heard Bitcoin described as a “Crypto Token,” as all crypto assets are described as tokens. Planning to create your token for any reason? We will share with you all the details on how to create and how much does it cost to create a token in India?
Crypto tokens are widely popular after the entry of open-source blockchain platforms in the market. Blockchain is a new and revolutionary technology that has made cryptocurrency possible. Now, every sector uses it for its benefit, be it healthcare, banking, insurance, supply management, finance, and many more. In addition, blockchain is used for creating crypto tokens, token wallets, crypto crowdfunding platforms, and trading platforms for tokens.
The demand for crypto tokens is on the top like never before. It can be seen due to their ideal functionality, popularity among traders, and low development cost. And this is the reason why many start-ups, entrepreneurs, and small-scale businesses are willing to create their crypto tokens. But false data like the cost to develop a token are making people opt out of taking this step.
What Do You Mean By A Crypto Token?
The increased digital assets in the online marketplace have led to the emergence of crypto tokens globally. The term “Crypto” comprises both “Coins” and “Tokens” and has its significance and values.
A crypto coin isa native asset of a Blockchain like you call Ethereum or Bitcoin, while a crypto token is the one created on top of existing Blockchain by platforms or applications.
Crypto tokens are those fungible and tradable digital assets that have their blockchain and are often used to raise funds or to be used as a substitute for any other thing. These tokens are usually made, sold, or distributed only through the Initial Coin Offering (ICO).
How Can You Create A Crypto Token?
Like every blockchain project, a platform is required for the development project. Similarly, crypto tokens need unique crypto platforms. For now, the two popular platforms to create crypto tokens are Ethereum and Tron, which you can use.
Here are the factors to consider when creating a crypto token:
- Token standard and development platform
- Token name
- Token symbol
- Number of Token for sales
- Code of Conduct
- Token Decimal Place
- Verify the source code
Any business or entrepreneur who wants to create a token can use the most promising blockchain, i.e., Ethereum or Tron. Ethereum is a popular ledger network that 90% of people use to make their crypto tokens. In addition, it is the second most prominent cryptocurrency, with a massive trade volume in the online marketplace.
Using the Ethereum blockchain, you can create a fully-fledged Ethereum-based crypto token that is safe and risk-free. All you need is to follow some basic conditions and undergo some essential factors.
For creating a crypto token, you need to choose an Ethereum Token Standard as per your business needs from the given list of ERC token standards:
- ERC877 and many more.
What is The Cost of Creating a Crypto Token?
When a person plans to create a crypto token for their business, brand, or any other purpose, the first question that comes to mind is, “What is the cost to create a crypto token”? Of course, cost plays a vital role in deciding if you want a token or not. However, certain factors affect the token development cost.
Here are the ect the cost of creating a crypto token:
- The entire design of the token
- The token development platform
- Features of the token
- Number of Tokens
- Size and location of the crypto token development team
- Ongoing support and maintenance
- Project’s complexity
But, keeping in mind all the factors, the development cost to create a token for your project ranges from $8000 – $10,00 for token wallet IOS and mobile app altogether as far as the additional features go like ICO dashboard script and token wallet app (both Android and IOS).
Why Choose Appinop Technologies For Developing a Crypto Token?
Appinop is a well-famed crypto token development company in the Indian market. With more than 6 years of experience in providing world-class crypto solutions like token & coin development, Stablecoin development, ERC20 token, TRC20 token development, and security token development along with crypto wallet and crypto exchange platform development.
All the packages are meticulously designed with 100% analysis of the client’s project, requirements, market trends, and overall budget. With a brilliant team of developers and programmers, each expert in their field ensures you get the best in the market.
If you want to create a crypto token that works just the way you want for your business needs, hire Appinop Technologies.
Frequently Asked Questions
Q1. How much does it cost to create an Ethereum token?
As we know that determining the exact price to create an ERC20 token is impossible, we can tell the average range of the same. So, the Ethereum development cost comes between $4K to $5K.
Q2. How much does it cost to mint a token?
The cost of minting a token generally ranges from $1 to $1,000. The price can increase depending upon the marketplace and NFT wallets.
Q3. Is creating a token free?
Creating a token is not free for both real and test tokens. Even for the test token, you have to pay a fee.
Q4. How can I start my token?
In order to start your crypto token, there is a set of procedures you have to follow:
- Define the properties of your crypto token.
- Develop a smart contract
- Go for a QA on a test chain.
- Deploy to the blockchain.