How much does it cost to create a feature-rich BEP20 token? A question that often arises in the mind of every startup. If this is your question too, this blog is for you. Startups want to create their own BEP20 tokens because of their salient features and unique functionality. In the digital age, everyone wants to invest in cryptocurrency.
With small investments, traders, cryptocurrency users, and even beginners are reaping big profits. Who else is opposed to passive income potential? Due to users’ thirst for passive income, many startups have come up with various business ideas. One of the exponential business ideas in the cryptocurrency space is token creation. Cryptocurrency token development helps startups generate revenue through various means.
When developing crypto tokens, everyone’s choice is to create BEP20 tokens. Due to its tremendous features, BEP20 has gained popularity over the years. However, the cost of generating BEP20 tokens is not clearly known. If you are one of them, read this blog completely. First of all, to be clear…
BEP20 Token – Quick Overview
BEP20 tokens are fungible tokens created on the BSC network that are widely used across various crypto platforms. This token was created by Binance, one of the popular cryptocurrency exchanges. BEP20 tokens have the characteristics of both ERC20 tokens (Ethereum) and BEP2 (BNB Beacon Chain). This makes it compatible with both blockchains.
These tokens have numerous use cases within the crypto space. It is currently used for cryptocurrency payments, staking, trading, and funding, and serves as a governance token. It was created primarily for integration into decentralized platforms. Currently, everyone thinks DeFi platforms will be the future of digital finance. Therefore, it is used for various purposes within the DeFi ecosystem, including staking, exchange, and voting.
part Popular BEP20 Tokens Those that have received attention from cryptocurrency users include Binance USD, Pancakeswap (CAKE), and Safemoon (SAFEMOON).
Also Read – Top 10 BEP20 Tokens List – Crypto World’s Popular Picks
BEP20 tokens stand out from other crypto tokens due to their exemplary features. Features are the backbone of the popularity and success of the BEP20 token, so the next part is about them.
Features of BEP20 tokens
The more functions a token has, the more prestige it has. This also applies to BEP20 tokens. The BEP20 token has many additional features that make it unique in the cryptocurrency space.
high transaction speed
The cryptocurrency market is highly volatile. Therefore, user expectations for faster speeds are enormous. This is fulfilled by BEP20 tokens. Cryptocurrency transactions can be completed within 3 seconds. This is 5 times faster than Ethereum tokens.
low transaction fees
You might think that the faster the transaction speed, the higher the fees. But in fact, the transaction fees for BEP20 tokens are completely low. The fee per transaction is less than 5 cents, while other blockchain tokens cost nearly $5 to $12.
interoperability
The BEP20 token constitutes the same characteristics of the Ethereum and BNB Beacon chains. Therefore, BEP20 tokens are interoperable with various blockchains.
low carbon footprint
The Proof of Stake (PoS) consensus mechanism is used to generate all BEP20 tokens. Therefore, no validators are needed to complete complex mathematical puzzles for token creation. Anyone can create these BEP20 tokens with sustainability (i.e. they use 99.9% less energy than other tokens).
Smart contract features
All BEP20 tokens have unique functions and characteristics that are integrated into smart contracts. Burnable, Mintable, Time lock or Locktime are some of the features of BEP20 tokens.
A global community
BEP20 tokens are created on the Binance blockchain, which has widespread support globally. Global access to BEP20 tokens is provided.
DEX support
BEP20 tokens were created to support basically all DeFi crypto projects. Since Binance Smart Chain is so popular in the cryptocurrency space, all DEX platforms are ready to list BEP20 tokens on their platforms.
Powerful security features
BEP20 tokens are primarily used on DeFi platforms and are therefore created with an advanced level of security features. It incorporates device-level native security, multi-level SSL integration, potential smart contract integration, and irreversible tokenization capabilities.
With these features, BEP20 tokens are gaining attention from startups and entrepreneurs. As mentioned earlier, these features allow anyone to create them for a variety of cryptographic purposes. If you want to integrate more features besides this, you can do so.
These pivotal features help startups actively participate in BEP20 token creation. Before starting the BEP20 token development process, cost estimation is the most important criterion for starting a cryptocurrency business. Sure. Let’s quickly get to the interesting part.
How much does it cost to generate BEP20 tokens?
The average cost to generate a BEP20 token is: $5000~$10,000. However, this is not the exact price for BEP20 token creation. Various factors are responsible for cost fluctuations and fluctuations. Costs may vary depending on business requirements, ideas and implementation.
Factors Affecting BEP20 Token Creation Cost
The cost of generating BEP20 tokens can vary depending on a variety of factors. Before creating BEP20 tokens, you can determine the total expected price. You can reduce it depending on your business needs and objectives.
- Development Team
- Complexity of features
- UI/UX design
- Compliance with Law and Jurisdiction
- Cryptocurrency Token Quantity
- Token testing and debugging
- Updates and Maintenance
Development Team
You can create BEP20 tokens by contacting a freelancer or cryptocurrency token development company. When approaching freelancers, you may be unsure about their expertise in token creation. The cost of generating BEP20 tokens is higher than other methods. If you’re trying to integrate complex functionality, you may or may not be clear about this. So it is better to go with a token development company. They will have a team of experienced developers and experts for BEP20 token creation.
You’ll also receive regular updates, guidance, and support from our development team. You can easily customize, upgrade, modify, and maintain your crypto tokens. So, depending on your business budget and needs, choose the best BEP20 Token Development Company It will be your best choice. Even after token launch, you can receive guidance from our developer team to resolve technical issues.
Complexity of features
The more complex features you integrate, the more costs you may incur to create BEP20 tokens. Burning, minting, anti-whale protection, establishing liquidity pools, deflation, token recovery and taxation are some of the common features of BEP20 tokens. The cost of generating BEP20 tokens largely depends on this factor. If you wish to integrate more security features, the BEP20 token creation price may increase.
UI/UX design
An important factor affecting BEP20 token creation cost is UI/UX design. Token design plays an important role in attracting cryptocurrency users and traders. While creating BEP20 tokens, we need to analyze the cryptocurrency market and understand the choices of users.
Since many people are currently interested in memes, you can create BEP20 tokens with meme themes. The cost of generating BEP20 tokens also depends on this factor.
Compliance with Law and Jurisdiction
If you are looking to create a potential token, you should also focus on legal and regulatory compliance. This is because different countries have different rules for token distribution. Therefore, you need to generate a crypto token according to your deployment region. You should also be conscious of paying your taxes regularly.
Cryptocurrency Token Quantity
The cost of creating BEP20 tokens is affected by the initial supply. Costs may vary depending on business purposes such as cryptocurrency crowdfunding, payment processing, listing, and other purposes. As the initial supply increases, the BEP20 token price also increases.
Token testing and debugging
Once you have created your BEP20 token, it is important to test it. This is to improve token quality and detect technical bugs or errors. If any technical issues are discovered, they can be fixed prior to token launch. The tendency to use powerful technologies for testing can increase cost estimates.
This allows you to launch feature-rich tokens without any hassle. This improves the quality of the token at the initial stage itself. The cost of generating BEP20 tokens varies for every development company. So choose wisely.
Updates and Maintenance
After the token is successfully launched, we are responsible for providing regular updates to our users. Additionally, the BEP20 token needs to be updated occasionally to improve the token’s excellence. Cryptocurrency token development companies will provide you with these services at a certain cost.
Additionally, tokens must be protected from security threats, hacking, and fraud. This is also an important factor affecting token creation costs.
These are common factors that affect the cost of BEP20 token creation. So focus on your needs before you get into the development process. Developing a powered BEP20 token for your business requires extensive technical support, guidance, and an experienced team.
Coinsclone’s staff provides cryptocurrency token development services at affordable prices for startups and entrepreneurs. By approaching our team, you can leave your worries behind and focus on other elements such as token marketing, promotion, and distribution process. The question on your mind here is:
Why choose Coinsclone for BEP20 token development?
The cryptocurrency market will boom in 2024 and beyond due to a variety of factors, including the Bitcoin halving, a surge in Bitcoin fees, and new token trends. So now is the perfect time to create BEP20 tokens and enter the world of magic. To generate BEP20 tokens, approach the leading Coinsclone. Experienced token development company In providing excellent Cryptocurrency token development service In the cryptocurrency space. We have done almost 350+ projects.
We have skilled developers, technicians, experts and project managers to complete the creation process without any hassle. The cost of generating BEP20 tokens will definitely fit your business budget. Previous projects with the startup have attracted the attention of investors, traders, and cryptocurrency users.
So, you can contact our team to create tokens without any worries. We offer free demos and have sample versions of the BEP20 token.
Your cryptocurrency token, your idea! We bring it to life!