How much does it cost to create BEP20 token with enriched features? A frequent question that arises in the minds of every startup. If this is also your query, then this blog is for you. Startups want to create their own BEP20 token because of its salient features and unique functionalities. In the digitalized era, everyone is keen to invest in cryptocurrencies.
With a low investment, traders, crypto users, and even beginners are reaping huge profits. Who else says no to a potential passive income? User’s thirst for passive income made many startups come up with various business ideas. One such exponential business idea in the crypto space is token creation. Through various means, crypto token development helps startups to earn revenue.
When it comes to developing a crypto token, everyone’s go-to choice is BEP20 token creation. Due to its immense functionalities, the BEP20 has gained popularity over the years. However, the cost to create BEP20 token is not known clearly. If you are one among them, then read this blog completely. First of all, be clear on…
BEP20 Token – A Quick Overview
BEP20 tokens are fungible tokens that have been created on the BSC network widely used in various crypto platforms. These tokens are created by binance, one of the popular cryptocurrency exchanges. The BEP20 tokens possess the characteristics of both the ERC20 token (Ethereum) and BEP2 (BNB Beacon Chain). Due to this, they are compatible with both blockchains.
These tokens have numerous use cases within the crypto space. They are presently used for crypto payments, staking, trading, & fundraising and act as governance tokens. They are primarily created to integrate into decentralized platforms. Presently, everyone thinks DeFi platforms will be the future of digital finance. Hence, they are used within the DeFi ecosystem for various purposes like staking, swapping, and voting.
Some of the popular BEP20 tokens that have gained the attention of crypto users are Binance USD, Pancakeswap (CAKE), Safemoon (SAFEMOON), and others.
The BEP20 tokens stay out of the box from other crypto tokens because of their exemplary features.
Features that Impact the BEP20 Token Cost
As features are the backbone of a BEP20 token, this also paves the way for higher cost deductions. We have framed some of the necessary features of BEP20 tokens. If needed, you can integrate additional features. By integrating more features, you can make your BEP20 tokens to stay unique in the crypto space.
High Transaction Speed
The crypto market is highly volatile. Hence, the user’s expectation for higher speed is immense. This is satisfied by the BEP20 tokens. One can complete their crypto transaction within 3 seconds. This is 5X times faster than Ethereum tokens.
Low Transactional Fee
When the transaction speed is high, you may think the fee would also be high. But, the truth is transactional fees are completely low with BEP20 tokens. The fee per transaction is less than 5 cents whereas other blockchain tokens would cost nearly $5 to $12.
BEP20 tokens comprise the same characteristics of both Ethereum and BNB Beacon’s chain. Hence the BEP20 tokens are cross-compatible with various blockchains.
Low Carbon Footprint
The PoS (Proof-Of-Stake) consensus mechanism is used for every BEP20 token creation. Hence, validators are not needed to complete the complex mathematical puzzles for token creation. Everyone can create these BEP20 tokens with sustainability (ie, uses 99.9% of less energy than other tokens)
Smart Contract Functionality
Every BEP20 token has unique functionalities and characteristics which has been integrated into the smart contracts. Burnable, Mintable, Time lock or Locktime are some of the features of the BEP20 tokens.
Global Level Community
The BEP20 tokens are created on the Binance blockchain which possesses a wide range of support worldwide. Global access is provided for the BEP20 tokens.
BEP20 tokens are primarily created to support all the DeFi crypto projects. As the Binance smart chain is popular in the crypto space every DEX platform is ready to list BEP20 tokens in their platforms.
Robust Security Features
As the BEP20 tokens are primarily used in DeFi platforms, they are created with advanced-level security features. Device-level native security, multilevel SSL integration, potential smart contract integration, and irreversible tokenization features are integrated.
With these features, the BEP20 tokens are gaining the attention of startups and entrepreneurs. As mentioned earlier, these features make everyone create them for various crypto purposes. Apart from these, if you want to integrate more features, then you can go with that.
These pivotal features help startups be strongly involved in creating the BEP20 tokens. Before delving into the BEP20 token development process, cost estimation is the foremost criterion for starting a crypto business. Sure, let’s fast forward to the exciting section.
How Much Does it Cost to Create BEP20 Token?
The average cost to create a BEP20 token would range from $5000 to $10,000. But, this is not the exact price for creating a BEP20 token. Various factors are responsible for the cost fluctuations and variations. Based on your business needs, ideas, and implementations the cost can vary.
Factors Affecting the Cost of Creating BEP20 Tokens
The cost to create BEP20 token would vary based on various factors. You can decide the total price estimation for creating BEP20 tokens before creation. You can reduce as per your business need and purpose.
- Development Team
- Complexity of Features
- UI/UX Design
- Legal & Jurisdiction Compliance
- Quantity of Crypto tokens
- Token Testing & Debugging
- Update & Maintenance
You can create your BEP20 token either by approaching a freelancer or a crypto token development company. When you approach a freelancer, you may not be sure about the expertise of them in creating the tokens. The cost to create BEP20 token ranges high than other methods. If you want to integrate any complex feature, they may or may not be clear about that. So, it is better to go with the token development company. They would have an experienced developer and expert team for BEP20 token creation.
Additionally, you can get regular updates, guidance, and support from the development team. You can customize, upgrade, modify, and maintain your crypto tokens easily. So, for your business budget and needs, a leading BEP20 Token Development Company would be the best choice. Even after the launch of the tokens, you can get guidance from their developer team to fix any technical issues.
Complexity of Features
As much as you integrate complex features, it may cost you more to create the BEP20 token. Burning, Minting, Anti-whale protection, liquidity pool setup, Deflationary, token recovery, and taxation are some of the common features of BEP20 tokens. The cost to create BEP20 token varies primarily based on this factor. If you want to integrate more security features and functionalities, this may increase the BEP20 token price for creation.
An important factor that influences the cost of creating a BEP20 token is its UI/UX design. To attract crypto users and traders, the token design plays a vital role. While you create the BEP20 token you have to analyze the crypto market and grasp the choice of users.
Presently many are showing interest in memes, so you can create your BEP20 token with a meme theme. The cost to create BEP20 token also depends on this factor.
Legal & Jurisdiction Compliance
When you tend to create a potential token, you have to focus also on legal and regulatory compliance. This is because every country has different rules for token distribution. So, as per your distribution region, you must create the crypto token. Furthermore, you must be conscious of paying the taxes regularly.
Quantity of Crypto tokens
The cost to create BEP20 token is influenced by the initial supply. Based on business purposes like crypto crowdfunding, payment processing, listing, and other purposes, the cost may vary. As much as the initial supply increases, the BEP20 token price also increases.
Token Testing & Debugging
Once the creation of BEP20 tokens is over, it is important to test them. This is to enhance the token’s quality and to find out the technical bugs or errors. If any technical issues are found, they can be rectified before the token launch. When you tend to use robust technology for testing, the cost estimation can increase.
Through these, you can launch a feature-rich token without any hassles. This improves the quality of the token at the initial stage itself. The cost to create BEP20 token changes based on every development company. So choose wisely.
Update & Maintenance
After the successful launch of the token, you are responsible for providing regular updates for your users. Moreover, you have to update your BEP20 tokens occasionally to improve the excellence of your token. The Crypto token development company will provide you with these services which should cost some amount.
Not only that, but you also have to protect your tokens from security threats, hacks, and scams. This is also an important factor that impacts the token creation cost.
These are the common factors that influence the cost of creating the BEP20 tokens. So, focus on the necessary things before entering into the development process. To develop an enriched BEP20 token for your business, you need mass technical support, guidance, and a skilled team.
We people at Coinsclone offer crypto token development services at an affordable price for startups and entrepreneurs. By approaching our team, you can leave your worries and concentrate on other factors like token marketing, promotions, and the deployment process. Here, the query in your mind may be…
Why choose Coinsclone for BEP20 Token Development?
The cryptocurrency market would boom after 2024 through various factors like Bitcoin Halving, Bitcoin fees surge, new trends of tokens, etc. So, this is the perfect time to create a BEP20 token and enter the magical world. If you want to create your BEP20 token, then approach Coinsclone, a leading Token Development Company well experienced in providing Excellent crypto token development services in the crypto space. We have delivered nearly 350+ projects.
We have skilled developers, technicians, experts, and project managers to complete the creation process in a hassle-free manner. The cost to create BEP20 token will surely fit into your business budget. Our previous projects with startups have grabbed the attention of investors, traders, and crypto users.
So, without any concern, you can approach our team to create our token. We offer you a free demo and it possesses the sample version of the BEP20 token.
Your crypto token, your idea! We bring that to life!