And the good news is that anyone can create their own BEP20 token on Binance Smart Chain.
Now, let's go in and show you how it works.
Binance SmartChain
Before you venture into creating your own cryptocurrency, you need to choose a blockchain platform that is suitable for your use cases.
If you are looking for a platform with low fees, fast transaction times and smart contract support and bsc token generator Binance Smart Chain (BSC) is ideal.
smart contracts
In a nutshell, smart contracts are code that runs on a blockchain designed for specific applications or services.
For example, if you want to create a decentralized voting application, a smart contract would be the voting logic that needs to run on the blockchain.
The largest smart contract blockchain to date, Ethereum, is also supported by Binance Smart Chain.
The BEP20 token standard
Creating a BSC token is surprisingly easy. These tokens comply with a standard called BEP20, which is similar to the ERC20 standard of Ethereum.
The token standard guarantees the basic functionality of the token, such as transferring, returning a balance, viewing the ownership of the token, etc.
Please note that BSC tokens can be exchanged for “normal” Binance Chain tokens that conform to their own standard, BEP2.
Additionally, any transactions that occur with these on-chain tokens will require a fee paid in BNB. This fee is create bep20 token compensation to validators for securing the network.
how to create bep20 token below:
Creating a BEP20 Token Create token from Cointool
Go to Token Create.
Complete all the details of your token
Select “Create token” and approve the transaction
On your smartphone, the link for step one can be viewed in the Trust Wallet browser by typing cointool.app/bnb/BSCCreateToken in the address bar. Make sure you are set to the Smart Chain network in the top right.
For step two, you will need to give your token a name and a symbol. You will also need to specify the initial supply amount of your token and the number of decimal places each token can be divided into.
Check mark setting in Token Create
There are also more check mark settings described below.
Burnable – This check specifies whether tokens can be burned to reduce supply.
If they can be minted (Mint) : Minting specifies the opposite, if more tokens can be created to increase the initial supply.
Can Pause – This check specifies whether your token and all associated operations can be paused and resumed when needed. This pause operation can be used in the event of a software vulnerability or malicious attack. Note that enabling pause grants authority to whoever is allowed to pause or resume pausing, create bsc token such as the creator of the token, and this central authority may not be suitable for certain use cases.
Depending on the use case, it may be better for some tokens to have this feature disabled. Similar to the pause function, enabling blacklists triggers a central authority, which may not suit certain use cases.
create token
Once you select “Create token”, the following interface will show you the fee for creation. This fee will be in BNB.
Add a custom BEP20 token to your trusted wallet
Now that you've created your token, how can you get it to show up inside your Trust Wallet? Simple, follow the steps below.
Inside the wallet, select the icon of the two sliders in the upper right corner
Scroll to the bottom of the list of tokens and select “Add custom token”
Configure the network in “SmartChain”, Network –> Smart Chain
