What are BEP20 Tokens?
BEP-20 tokens are a type of cryptocurrency token that adhere to the Binance Smart Chain (BSC) blockchain standard, enabling the creation and management of digital assets within the BSC ecosystem. Binance has its native coin, BNB, and tokens like BEP20, BEP721, BEP1155, etc.
These tokens’ primary goal is to provide entrepreneurs with a flexible framework, so they can launch a variety of tokens on the Binance Smart Chain. Token standards make sure that tokens have essential features like the capacity to send and receive money as well as to check and return balances.
Due to its speed, scalability, and interoperability, BEP20 tokens have become incredibly popular in the cryptocurrency market. Many startups have already started their crypto token business by creating a BEP20 token.
In this blog post, we will discuss the top 10 BEP20 tokens list, the advantages, and the process of creating BEP20 tokens.
Top 10 BEP20 Tokens List in 2023
If you’re looking for a cryptocurrency that isn’t as volatile as others, consider Binance USD (BUSD). This stablecoin is pegged to the US dollar and is backed by US dollars, making it a secure option for trading on the Binance exchange or withdrawing to a bank account. BUSD is a digital currency issued as an ERC20 and supports BEP20. Its price stability makes it useful for payments, transactions, settlements, and even in Decentralized Finance (DeFi). You can transfer BUSD within minutes at a low cost on the blockchain and trade it on various exchanges and DEX.
This exchange operates in a decentralized manner, providing ample liquidity and low transaction fees. The platform’s native token, CAKE, enables users to pay trading fees and partake in governance decisions. The total supply of CAKE has been capped at 750 million, and investors can increase their profits by taking part in a lottery pool on Pancakeswap. This pool also offers the chance to win an NFT, which can be exchanged for CAKE. Users can safely store their CAKE on wallets linked to the Binance Smart Chain, such as MetaMask, Trust Wallet, and TokenPocket.
Bakery Token (BAKE)
BakerySwap is a decentralized exchange on the Binance Smart Chain that utilizes BAKE as its native token. BAKE is used to pay trading fees and take part in governance decisions. The platform offers liquidity pools, yield farming, and NFT trading, with BAKE, expected to provide over 10 times the rewards compared to other pools. BakerySwap has two types of liquidity pools – one with BAKE rewards and one without. When swapping or trading, a 0.30% fee is charged in BAKE tokens. Liquidity providers can also stake bakery LP tokens to earn BAKE token rewards.
This token is unlike any other, as it operates on a deflationary system that rewards those who hold onto it and penalizes those who sell. Its community is highly supportive and actively promotes the token and its various use cases. SafeMoon has ambitious plans to create a Non-fungible Token (NFT) exchange, as well as crypto apps and charity projects. Through the SafeMoon protocol, token holders can earn more SAFEMOON according to how many coins they possess. Although SafeMoon is similar to other cryptocurrencies like Bitcoin and Ethereum, its unique features make it stand out from the crowd.
This lending platform operates in a decentralized manner and provides attractive interest rates with minimal fees. To borrow and lend funds and participate in decision-making, users utilize the platform’s own token, CREAM. Although it was originally scheduled to launch on Ethereum, it has now been launched on Binance Smart Chain. During the staking period, CREAM tokens offer users the ability to lend, borrow assets, and earn rewards. Currently, there are 9 million tokens in total supply, with approximately 150,000 currently in circulation.
TOKO Crypto Coin (TOKO)
The TOKO platform uses a utility token to grant access to a range of services. Users can engage in cryptocurrency exchanges, savings programs, cross-platform Decentralized Finance (DeFi) applications, and NFT marketplaces using this token via the Tokocrypto blockchain platform. The Toko Token was released in April 2021 and has drawn the interest of both private and business users. The project has significant support from Binance, which collaborated on the development of the Tokocrypto platform and will help facilitate its future growth.
This is a token that operates on the Binance blockchain and has a total supply of 1 billion. As a token holder, you can enjoy multiple benefits on the trading exchange, including discounts on trading fees, token airdrops, WRX trade mining, margin fees, and more. The individuals behind WRX and its operations are Indian entrepreneurs who have extensive experience in building and expanding global products out of India. Binance acquired WazirX in November 2019 to help make cryptocurrencies accessible to everyone in India.
Trust Wallet Token (TWT)
Trust Wallet, a mobile cryptocurrency wallet, offers premium features and allows participation in token sales on Binance Launchpad. TWT tokens provide various benefits to Trust Wallet users, such as discounts on in-app cryptocurrency purchases and decentralized exchange services. Additionally, TWT holders have the opportunity to participate in Trust Wallet governance by voting on app update proposals, which can shape its future development.
This platform connects the worlds of fiat and cryptocurrency through three main products: a Swipe Multi-asset mobile wallet, a Swipe Cryptocurrency-funded debit card, and the Swipe token (SXP). SXP is the native token of the Swipe network and offers exclusive discounts when used on the Swipe app. With the swipe debit card, it’s possible to make fiat payments using SXP tokens. A maximum of 30 million SXP tokens is available, and holders can also stake and bond them to the Swipe network. SXP is traded on over 50 exchange platforms such as Binance, Kucoin, Poloniex, and more.
Alpha Token (ALPHA)
The ALPHA token is used on the Alpha Finance Lab platform, which is built on the Binance Smart Chain. This token has utility purposes, and those who hold it can earn a portion of network fees by staking their ALPHA tokens to cover loans. Currently, there are 285,579,035 tokens in circulation out of a maximum of 1 billion. The platform is built on a highly secure blockchain network. Alpha aims to provide various blockchain solutions, including a decentralized business services market and a portable web3 device.
Due to their multiple advantages over other token kinds, the tokens that are mentioned in the above BEP20 tokens list are becoming more and more well-known in the cryptocurrency market. These top BEP20 tokens listed have several advantages such as quick transactions, scalability, interoperability, low fees, security, accessibility, customizability, liquidity, transparency, and innovation. Also, the tokens are highly sought after by traders and investors due to their adaptability and usefulness across various applications.
Characteristics of the BEP-20 Token Standard
Understanding the parameters of the BEP20 token standard is crucial. These parameters include,
Minting Capability – The “Can Mint” parameter dictates whether additional tokens can be created, gradually increasing the BEP20 token supply. This parameter introduces inflationary tendencies.
Burning Capability – On the contrary, the “Can Burn” parameter is deflationary, determining if tokens can be permanently removed from circulation, thereby reducing the BEP20 token supply over time.
Pause Functionality – The “Can Pause” parameter serves as a security measure for situations where the platform may be vulnerable to attacks or other threats. It enables the option to temporarily halt all token-related activities in response to malicious attacks or platform breaches. This feature is centralized, as the creator or another user with equivalent permissions can initiate the pause.
Address Blacklisting – The “Blacklist” parameter empowers the prohibition or blacklisting of malicious addresses, providing a means to safeguard the token ecosystem from harmful actors.
In general, BEP20 tokens provide numerous benefits to developers and investors. As blockchain technology advances, we can expect even more creative applications for BEP20 tokens in the future. Therefore, now is the ideal time to Create your cryptocurrency token on the BNB chain.
Now let us see…
How to Create Binance Smart Chain BEP20 Standard Tokens?
Creating a BEP20 token involves several steps. First, you need to define the token’s purpose and characteristics, such as its name and symbol, and total supply. Then, you must write the smart contract, which is the code that runs on the Ethereum blockchain to manage the token. This contract should include all necessary functions for transferring tokens and checking balances.
After writing the smart contract, you should thoroughly test it for errors and vulnerabilities before deploying it to the Ethereum blockchain. Once deployed, you can distribute the tokens to investors or a specific group of people. Finally, you must maintain and monitor the smart contract to ensure its proper functioning and security.
It’s important to keep in mind that the development process for a BEP20 token may vary based on the project’s complexity and requirements. To ensure a smooth and secure development process for your token, it’s best to seek the advice of a crypto token developer or a specialized BEP20 Token Development Company.
Hiring an experienced crypto token development company for your cryptocurrency or blockchain project comes with many benefits. Coinsclone is one such BEP20 Token Development company that has extensive experience in coding and marketing, which will enable you to create a product with the right features for your business needs.
Benefits of Choosing Coinsclone for BEP20 Token Development
At Coinsclone, we offer a premium BEP20 Token development service that includes everything you need to develop a feature-rich BEP20 token. With over 5 years of experience in crypto token development, we have delivered over 200 high-performing tokens for our clients. Our skilled team of developers has an in-depth understanding of Binance Smart Chain technology and the BEP20 token development process. And worth enough to create a crypto token like the above-mentioned top BEP20 tokens list.
This allows us to deliver custom tokens quickly and efficiently that are compatible with all contemporary and popular non-custodial crypto wallets. Once we deliver your token, you have full control and can make changes as per your business concepts. We provide first-class technical support that’s available 24/7 to ensure customer satisfaction.
We also offer technical advice on how to set up your project and ensure that it reaches its potential customers quickly and efficiently. Additionally, we guide how to market your project effectively so that it stands out from the competition in terms of quality and usability. Our team of experts offers other advantages such as budgeting assistance, legal advice, and ongoing support throughout the entire process.
Even if you have more experience in this area, having a knowledgeable team like us by your side can be invaluable in helping ensure that everything goes smoothly throughout the entire process.