CryptoCurrency Token Development
MAKE YOUR OWN CRYPTO TOKEN
Do you want to raise fund for your venture? That also without Bank Control?
With your own token you’re able to provide your customers with more options in terms of payments and as cryptocurrencies are getting popular it will definitely help your business broaden its appeal and reach out to a diverse range of customers.
Typically, it requires a lot of paperwork, clearances etc. to actually raise funds for a business venture. Developing your own token you can easily reach out to more and more investors who would be interested in your project. Most importantly you don't have to share the ownership of your project with your investors.
By launching an ICO (Initial Coin offering) you can raise funds for your startup or a particular business venture. Also, ICOs are one of the smartest and easy ways to help you kickstart your business which is still in ideation stage for lack of adequate funding.
We Vtech Excellency the pioneer Blockchain Development Company develop Smart Contracts for widespread frameworks such as Ethereum, Tronetc. on critical analysis of the Crypto market, we arrive at the very point that Binance Chain, as well as Binance Smart Chain based Smart Contracts, have the potential to outperform all the other chain based Contracts.
We at Vtech Excellency deliver the BSC Smart Contracts with a primary degree of precision, complete optimization, and highly automated asset management for the optimal use of participants seeking the BEP20 Token Development Services.
We Develop the Bsc (Binance) Token with acessiblity through all smart chain- supported wallet like trust wallet, Metamask, etc.
Token has the facility of Burning, Minting, and Ownership change.
Cost : ₹ 2,00,000/- ($2300)
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The cryptocurrency market is growing at an unprecedented rate. In 2021 alone, the total market capitalization grew from $776.4 billion in January to over $2.3 trillion in December. You can create a new crypto token and become a part of this financial wave.
A crypto token is a digital asset traded on a blockchain network. It’s similar to stocks or bonds but more flexible because you can use cryptos as currency or trade them in exchange for goods and services.
Why to Start Your Own Crypto Token?
Blockchain technology allows you and your businesses to do things that were once only possible through banks. So there are several reasons why you might want to create your own crypto token:
• To build an investment opportunity for people who believe in your project and want early access to it.
• To generate loyalty programs for members of the community who support you and other users (like gamers pledging loyalty points).
• To create a bitcoin token or ERC20 token that can be used as a payment method within an ecosystem in exchange for goods or services.
• To produce a digital currency that can be used as legal tender in your country.
• To start your own DeFi app
• To make security tokens that represent shares in companies listed on exchanges.
• To raise funds from investors interested in supporting your project through crowdfunding campaigns or initial coin offerings (ICOs).
• For gaming purposes, such as betting on sporting events using virtual money instead of fiat currencies like U.S. dollars or euros.
• For trading purposes.
These are just some of the reasons we heard from our business partners when discussing the possibility of creating crypto tokens. We at Vtech Excellency we are happy to work on your ideas and always try to stay up-to-date considering modern technologies!
How we help you Create a Crypto Token?
It’s crucial to make a step-by-step plan on how to create a crypto token for your project to succeed.
Step 1: Deciding Which Business Problems Your Token Will Solve
Many people who come to the crypto industry do not understand what is happening in blockchain technology and simply want to earn money by selling tokens.
This approach is wrong because if you want to create a token that will be successful in the market, you need to solve people’s real problems.
For example, if we talk about ICOs, most of them are created to make money from nothing. Their creators do not know how many users will use their projects or whether there will be a demand for tokens issued during ICOs. As a result, many teams fail after launch due to a lack of demand for their services or products.
Because of that, the first step to creating a crypto token is to decide which business problems your token will solve, why you need it, and whether you need it.
This point is important for further definition of those characteristics of the token, and hence the preparation of a project plan.
Step 2: Defining Your Audience
You have to understand why people would use your token, what problems they have, and how can your token solve those problems for them.
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For example, if you want to create a token that will be used as a currency, then some merchants or companies should accept it as a payment method. If you want to create an asset-backed token, then the value of this token must be tied to some asset – real estate, stocks, gold, or anything else with tangible value. If you want to use your token for fundraising purposes, you need to give investors some kind of return on their investment in your project.
Step 3: Choosing a Token Name and Symbol
Choose a token name that is unique, catchy, and easy to remember. A good rule of thumb is not to use the same combination of words in your project’s name that are used by other projects and not out of crypto context. For example, if you have a project named “Super Hero Coin”, then another project using the word “super” could confuse users.
The symbol is what will represent your cryptocurrency on exchanges and wallets. It needs to be memorable but also easy to read. This can be achieved by choosing an uppercase letter followed by lowercase letters or vice versa (for example, BCH or BCASH).
Step 4: Choosing How Your Tokens Are Distributed
The distribution is how tokens will be distributed among investors and early adopters of your platform. You might decide to distribute them equally among early adopters through crowdfunding. You can also distribute them at certain times or after a certain time has passed. The best way to set up token supply is based on how much money was invested into the platform previously as part of an ICO or security token offering (STO).
Step 5: Choosing a Token Network
The network is what connects all the nodes and allows them to communicate. The two most common networks are the public Ethereum network, a decentralized blockchain built on top of Bitcoin’s codebase, and private blockchains like Hyperledger Fabric that use consensus algorithms like RAFT or PBFT instead of PoW or PoS for validation.
Step 6: Choosing a Token – Use Cases
What are some of the main use cases for tokens on your platform? You should consider what price it should be worth based on how many tokens will eventually be in circulation and how quickly they will be distributed to users. For example, if you are building a decentralized social media platform where users can earn money by writing content and sharing it with their followers, then the value of your token would likely be based on how many people are using your application.
Step 7: Choosing a Token Website
There’s no point in creating tokens if nobody knows about them. You’ll want to create a website, Android, or iOS app that people can use. You may want to have an ICO or STO first to raise funds for these costs.
How Much Does It Cost to Start a Crypto Token?
The cost of creating a cryptocurrency token depends on several factors, including the complexity of your project and what services you use for development. You’ll need to pay for legal services such as patenting and trademarking your idea or software. You may also need to hire experts in marketing who can help promote your product effectively and efficiently.
The costs involved in creating a cryptocurrency token vary depending on who you choose to work with. Considering the average web 3.0 developer salary, the prices for token creation can range anywhere from $5,000 to over $100,000.
The more you need to pay for the services of developers, designers, and other specialists, the higher your cost will be. The more complex your project is, the more you need to pay for the services of lawyers and accountants to help you start your own crypto token.
Vtech Excellency has a team of experienced developers who will help you discover your product idea and evaluate its viability. This way, you will spend little money on the discovery phase service, but you will know exactly what your project budget should be before you spend money on development and get stuck halfway because you ran out.
After the discovery phase, you can move to development. It is where the work required for your project is done. This can include coding, design, and other tasks depending on what you need to get done. Development usually takes between 4 weeks and 3 months, depending on the project’s complexity (more complex projects take more time).
How Vtech Excellency Can Help to Launch Your Own Crypto Token
• Design work. We will create a custom design for your new crypto token that is both easy to use and attractive.
• Development work. We will help you find the best web 3.0 developers that know how to develop blockchain applications for managing your tokens and seeing their status on the blockchain when it’s launched.
Vtech Excellency is a full-service outstaffing company that can help you find and hire the right talent for your project. Our services are affordable and will save you time and money on hiring a developer or other specialist in this field. This approach can be especially beneficial if you are looking for someone with specialized skills in one particular area, such as Solidity development or smart contract creation and deployment. Contact us and get a consultation for free!
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