Build Your Own Crypto Token for Your Business | Launch Cryptocurrency Token

By Suffescom Solutions

July 19, 2022

If you have been in the crypto business for quite some time, then you should be very well aware of the related terms like crypto token, ICO, token development, etc. Upon hearing these terminologies, a sensation might hit you internally about what the article will be about. 

Isn’t it?

Every business owner wants to go through all ins and outs of the sector in which one wants to grow more and earn higher ROI. Considering the situation of every crypto business owner or those who want to start their journey in blockchain, we, the team of suffescom, have compiled an authentic, informative, and well-researched blog. This will provide a deep insight into crypto tokens and cryptocurrency creation services.

Crypto tokens are not security tokens. Individuals often get confused between the two. Security tokens store the user's identity and provide access to systems or places. Many of you might be wondering about how to develop these tokens.

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Cryptocurrency creation service is about building smart contracts for crypto coins or tokens on a new or existing blockchain respectively.

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Well, developing crypto tokens is not a hard nut to crack for crypto token developers. They can build tokens as per your platform and requirements. 

Now, let’s dive into the topic and get some knowledge about the token creation process.

What is a Crypto token?

We know most of you are abreast of crypto tokens, but few of you who want to start a business on a blockchain-based crypto platform do not have complete knowledge. Thus, for starters, crypto tokens are defined in layman's terms.

The tokens or digital assets built on another cryptocurrency's blockchain are called crypto tokens. The fact is that every cryptocurrency is built on a blockchain, but all cryptocurrencies do not have their own blockchain. In such a case, cryptocurrencies require another cryptocurrency’s blockchain, which is regarded as a token.

Now that you know about crypto tokens, it is necessary to find the difference between token and coin.

Since the token does not have its own cryptocurrency blockchain and relies on another blockchain at the same time, a crypto coin is the one that has its own cryptocurrency blockchain. 

Let’s take the example of the Ethereum blockchain (CRYPTO: ETH) to make it more transparent. This blockchain has its own cryptocurrency, called Ether. Hence, Ether is recognized as a crypto coin, not a crypto token. Ethereum, being programmable, is utilized to launch other cryptocurrencies. When non-native cryptocurrencies are operated on Ethereum's blockchain, they are called crypto tokens.

Importance of Crypto tokens

Talking about crypto tokens, their importance is immense. Let’s find the numerous significant factors of tokens below.

  • Developers do not require a blockchain to create cryptocurrency tokens. Thus, this saves time and money. Moreover, it makes the process simple and super fast.
  • Blockchain development is required when you want to build your own crypto coin. Having your own blockchain allows low-cost transactions and protect cryptos against fraudulent activities.
  • Cryptocurrencies are decentralized. We all know this fact, and these digital currencies rely on people who want to become validators and lend computing power to the blockchain. For instance, Bitcoin. Bitcoin relies on Bitcoin mining, which further requires people who are using mining devices. 
  • A crypto token is undoubtedly the most favorable option as it does not require building a blockchain from scratch. Developers can use existing blockchains, such as Ethereum. 

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Crypto token development 

The world of cryptocurrency will soon become popular in the financial world. Coins and tokens are becoming buzzwords in the present era. More and more individuals are finding these digital assets to be advantageous for a number of reasons. These digital assets are decentralized and utilize cryptography techniques to perform functions efficiently and to protect them from malicious activities. 

Cryptocurrency creation service is about building smart contracts for crypto coins or tokens on a new or existing blockchain respectively. Utilizing existing blockchain for token creation is more feasible and practical. 

Token development company

Relying on any regular company for token development services might not be fruitful for you and your business. Hence, search for an organization with years of experience in this sector and thorough knowledge of cryptocurrency and blockchain. 

Suffescom is one such renowned company dealing in crypto coins and tokens. Our developers stay up-to-date with the emerging tools and technology to give a boost to your blockchain-based business. We build robust best-in-class crypto tokens and platforms like Ethereum, Binance, Smart Chain, TRON, etc. We have created crypto tokens for several clients. 

You can quickly build up your native token to popularize your crypto-based projects. Hire a crypto token development company to create your own token on a famous blockchain.

Services offered under Crypto token development

  1. NFT development

NFT (Non-Fungible Token) development services are the unique way to convert your collectible into unique tokens. NFTs add innate value to your assets and also offer easy liquidity.

  1. DeFi Token development

Decentralized finance tokens are built to remove the need for intermediaries in cryptocurrency-based banking operations. DeFi token services are available for various business models like equity, security, and utility-based, as per the need of the project. 

  1. Metaverse token development

Metaverse token development involves building tokens that will be utilized in the virtual space in Metaverse. These tokens could be related to anything, including building, avatars, weapons, etc.

  1. Ethereum token development

Another prominent service is the Ethereum token development. Ethereum tokens are built utilizing smart contracts based on standards such as ERC-20, ERC-223, ERC-777, ERC-1400, ERC-721, ERC- 827, etc.

  1. TRON Token development

Suffescom is efficient at developing and deploying tokens on the TRON blockchain platform. The basic standards followed for token development are TRC-10, TRC-20, and TRC-721.

  1. BEP20 Token development

BEP tokens are created on Binance Smart Chain to raise funds via ICO. These tokens also offer utility benefits in the nearby future. Contact ICO Development Company to develop BEP20 tokens.

  1. Solana token development

Token development services are also provided on Solana and other networks. With the help of customized smart contracts, high-end functionality tokens are built according to your business requirements.

  1. Polygon token development

It involves the process of developing crypto tokens on a polygon blockchain network. This network offers benefits like low cost, less complexity, and high transaction speed.

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  1. Avalanche token development

Build smart contract-based decentralized tokens on Avalanche (AVAX) blockchain network empowered with low cost, high transaction speed, and eco-friendliness.

  1. Mintable token development

The services under token development also contain mintable tokens. Creating mintable tokens enables you to mint more tokens whenever required, based on requirements.

  1. Semi-Fungible Token (SFT) development

Semi-fungible tokens have a combined nature of fungible and non-fungible tokens. Firstly, it acts as a fungible token that can exchange with a similar value and then becomes non-fungible.

  1. Token wallet development

Development of tokens goes well with token wallet development. These wallets are secure digital wallets used for storing and transactions of digital cryptocurrencies.

Now, this was all about the token development services commonly offered by service providers.

Let’s put some light on the features of crypto token development. Stay tuned!

Characteristics of crypto token development

  • Crypto tokens are digital assets that are exchangeable with other cryptocurrencies.
  • A secure cryptographical string is a token of information.
  • Tokens are built on the existing blockchain.
  • Tokens work effectively on a blockchain to make transactions easy.
  • The standard procedure of ICO includes distributed crypto tokens.

What Are the Types of Cryptocurrency Tokens?

The 4 significant types of crypto tokens are listed below:

  • Platform Tokens
    Platform tokens utilize a blockchain framework to build decentralized applications (dapps) for various uses.
  • Security Tokens
    Security tokens are a recent addition due to the uprising regulatory issues. These provide 2FA (two-factor authentication) for users to verify their identity.
  • Transactional Tokens
    Transactional tokens are for making transactions and trading. These tokens operate as classic currencies and deliver several other benefits.
  • Utility Tokens
    Utility tokens are not built for straight investment but are utilized for payment of services inside the respective blockchain ecosystem.

Most common uses of crypto tokens

  • Governance tokens: 

This is the most promising use of crypto tokens. The token holder gets voting rights in a cryptocurrency project related to any matter. They become eligible to vote on proposals or decision-making related to specific cryptocurrencies. The voting power is directly linked to several governance tokens. More governance tokens mean more voting power.

  • Decentralized finance: 

Tokens are used for Decentralized finance systems. DeFi is built on blockchain technology, ensuring no middleman is involved, and borrowers and lenders can directly interact with each other using crypto tokens. Each DeFi platform has unique tokenization.

  • Crypto rewards: 

Investors play the leading part as DeFi platforms rely on them. Investors lend their cryptocurrency funds and receive crypto rewards as incentives in return. They can utilize these rewards as crypto tokens.

  • Non-fungible tokens: 

An NFT is a token with complete ownership to the token holder. The crypto token holds the information of its ownership.  These could be any unique digital image, a GIF, or an avatar.

Are you looking for deep insight into the uses of crypto tokens? Get in touch with Suffescom- a crypto token development company. We have experts of crypto token developers with thorough knowledge.

Benefits of token development

Token development comes with proven benefits that can assist users and businesses.

  • Branding

There is no doubt that having one’s own cryptocurrency assets can raise brand awareness by creating a professional outlook, and you can give tough competition to your competitors.

  • Popularity

Another way of tokens to make your brand more visible is through airdrops and bounty, which will assist in expanding the customer base and boost signups.

  • Exchange

Crypto tokens are eligible for trading on any cryptocurrency exchange platform. 

Some of the best crypto tokens

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Do you want some exposure to some of the leading crypto tokens? Take a look below.

  • Tether (CRYPTO:USDT) and USD Coin (CRYPTO:USDC) 

These are stablecoins created to maintain a price of 1 USD. Both of them are built on the Ethereum blockchain.

  • Shiba Inu (CRYPTO:SHIB) 

It is a meme token built on the Ethereum blockchain. It first saw a rise in its price in 2021; later, its value fell significantly.

  • Chainlink (CRYPTO:LINK)

This is also built on the Ethereum blockchain. It receives real-world data through smart contracts on a blockchain.

  • Uniswap (CRYPTO:UNI)

Uniswap is the token for the decentralized crypto exchange that offers cryptocurrency trading without any intermediary. This is also built on the Ethereum blockchain.

Conclusion

Investing in cryptocurrency or digital assets requires a thorough understanding of crypto tokens and their working. We understand that it is quite difficult for newcomers to gain full knowledge of the crypto world; thus, this blog has been written to give you a glimpse of it.

We, at Suffescom- a crypto token development company, have the right expertise, the right set of tools, and a highly experienced professional team to guide you on your project and build your own crypto tokens. We are just a call away. 

Pick up your phone and give us a call. We ensure to respond to you in 24 hours.

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