Why need create own crypto token?
Some time ago, a person named Alex Masmi introduced the idea of tokenizing himself, which attracted attention and went viral in an easy, funny and creative way to finance him.
One of the ways to invest in digital currencies that can be considered is to create your own crypto project and generate your own token, and if you follow the right path, you will succeed and leave! But this route itself has a bag of topics that we will mention later.
What do I do with the tokens?
Good question! But the answer varies depending on the type of business and the opinion of the business consultant can give advice, but the simplest way is that with your token you can offer more options in the field of payment to your customers and with the popularity of digital currencies, definitely to your business. Helps to expand its popularity and reach a diverse range of customers in international supply.
The path that a digital currency project takes to become global is usually as follows:
An initial document called a white-paper, which contains a complete description of your idea, is supposed to let investors know that the demand for your crypto coin or token will increase.
Legal and financial affairs
Review of legal laws and the subject of the project and formulation of the legal framework of the token
Use of advanced technology tools
This step includes developing the algorithm, kernel, digital wallet and creating the official site.
Implementation of the initial proposal (ICO, IEO)
Initial Coin Offering (ICO) is usually held for development and marketing with the aim of inviting investors around the world. This process involves building crypto tokens, advertising, and building a community.
- Initial exchange offers (IEO). — This event is in the path of digital currency exchange responsibility.
Listing a digital currency on common cryptocurrency exchange platforms
There are companies that provide listing services in exchange offices. Usually in a decentralized exchange, the project owner does this without an intermediary.
Global crypto marketing based on token owner needs
Depending on the target market, budgeting is planned for posting ads on news websites and managing social networks.
Draw a roadmap
A roadmap is a strategic plan that defines a goal and includes the main steps or milestones needed to achieve it. It also acts as a communication tool, a high-level document that provides information to express strategic thinking and project reasons for achieving it.
The cryptocurrency business model is booming, and research shows that it has grown three times faster than other business models. If you’re looking for a cryptocurrency trading platform, this is a good time to start creating a digital currency for your business purposes.
Creating a digital currency helps you expand your business around the world, 24/7. Best of all, compared to other businesses, creating a digital currency comes without losing your savings.
If you want to create your own digital currency password, you need to generate a number of digital currency tokens on the blockchain network. Blockchain acts as a distributed general ledger for your token and records all transactions in a verifiable manner.
Without this transaction database, no one can trade or use your token. Due to the increasing volume of transactions, Ethereum is experiencing Blockchain’s most widely used blockchain, congestion, poor transaction rates and high transaction costs. Binance Smart Chain (BSC) is a blockchain platform that uses Ethereum-like technology, but thanks to a few tricks, has significantly reduced transaction costs. It can also process more transactions in less time.
Binance Smart Chain and BEP-20 standard is a great option because BEP-20 token has a more reasonable fee for token holders than ERC-20 token.
China BSC Smart Budget is currently the fastest growing blockchain in Binance Smart , attracting investors due to its low transaction costs and excellent speed. Smart Connect BEP-20 tokens can be used as a digital currency for various projects, including payment of goods or community support.