How to Create ERC20 Token? - Create Your Own Token

The ERC20 token is one of the most popular tokens on the Ethereum Blockchain. ERC20 token creation is not complicated; anyone can do it. But, careful consideration is needed to create an ERC20 token successfully. Moreover, the ERC20 token creation process helps to understand how crypto works. If you want to know how to create an ERC20 token without fancy coding, then do not worry. In this blog, I will share the basic information and a step-by-step guide for ERC20 token creation. You will have sound knowledge about cryptocurrency tokens and also have some fun.

What is Ethereum and ERC20 Token Standard?

Ethereum is a blockchain technology-based decentralized network. The native cryptocurrency of Ethereum is Ether, presented as ETH. As Ethereum is an open-source platform, anyone can develop secured applications based on this.

Ethereum is popular for its ability to create smart contracts. The characteristics of Ethereum help to create tokens on this network. Currently, the most used standard is ERC20. It ensures the basic functions of an Ethereum token - ownership, fund transfer, payment etc.

There are around 12,000 ERC20 tokens available in the market and the market cap of ERC20 tokens is around 400 billion. 

Some popular ERC20 standard tokens are- 

1. Tether USD (USDT)

2. USDC (USDC)

3. Lido Staked Ether (stETH)

4. Shiba Inu (SHIB)

5. Wrapped liquid staked Ether 2.0 (wstETH)

6. Wrapped BTC (WBTC)

7. Wrapped Ether (WETH)

8. Chainlink (LINK)

9. Polygon (MATIC)

10. Uniswap (UNI)

How To Create ERC20 Token - Step By Step Guide

ERC20 tokens have many types - Standard token, Essential token, Taxable token, PRO token etc. So, creating an ERC-20 token by understanding all types of tokens and their configuration takes time. Also, there are many ways to create an ERC-20 token. Here, I will demonstrate the most general and usable format of guidelines. If you go through the following steps, you can create your own ERC20 token from any platform.

Here are the ultimate 5 steps to create an ERC-20 token-

Step 1: Choose A Free Online Token Tool

Considering that you are not a coding expert, the first step for your token creation journey should be selecting an online ERC20 token creator. Choose a free or low-charged online ERC20 token builder. Coin Factory, SmartContract, CreateMyToken and Bitbond are some of the popular token generators. Select the ERC20 token generator on your preferred platform and start developing your own ERC20 token.

Step 2: Connect Your Crypto Wallet

The second step to creating an ERC20 token is to choose a reliable crypto wallet. If you already do not have a wallet, then immediately create it. There are many wallets available in the crypto world. But, not all are supported by the token development tools. So, when you have selected the token development tool, choose your crypto wallet according to that tool.

Most of the renowned token development tools support popular wallets like Rainbow, Coinbase Wallet, MetaMask, WalletConnect, Argent, Trust Wallet and Ledger. You can choose one of the wallets for your own EC20 token generation.

Step 3: Setup ERC20 Token Properties and Features

Now it's time to set up the token properties. Give your token a unique and memorable name according to your purpose. Write a token symbol, custom decimals, initial and maximum token supply and other configurations. These are easy to set up as you do not have to do any coding. The ERC20 generator will automatically do the rest of the tasks.

Step 4: Pay Fees and Deploy Your ERC20 Token

Most of the ERC-20 token generator tools do not charge for standard token creation. There may be a charge involved for special types of ERC2- tokens. But the main charge is involved with token deployment on the mainnet. So, before deploying your ERC20 token, carefully check token details and settings.

Finally, you have to pay via the crypto wallet you used to log in to the platform. The payment takes a little time to confirm your entry on the Ethereum blockchain network. After successful payment, you will get your desired ERC20 token address and link.

Step 5: Showcase Your ERC20 Token

Deploying an ERC20 token is not the last task in the token creation journey. You can raise money for your project by sharing your ERC20 token. You have to inform your targeted audience about your token. You should share the ERC20 token information on your social media platforms. Reach out to your friends and family to inform them about the newly created token.

You can share the token updates on your fundraising website and list the token on directory websites. The more exposure your ERC-20 token gets, the more chances there are to gain popularity of the token. It will ultimately increase the value of your ERC-20 token.

Conclusion

Now that you have read a thousand words about how to create an ERC20 token, let's conclude.

Every token standard has its own benefits and purpose. ERC20 is the most popular one in the blockchain world. As ERC20 defines the standards, you should understand whether your token aligns with your purpose or not. Try to use the best tool that suits your needs. You can save time and money by using a reliable token creation tool. Many custom software development companies provide services for token generation. You can also get help from them if needed. As a crypto token symbolizes your project, you should understand everything before creating your own ERC20 token. If you are confused and need some help, you can also bookmark this blog for your reference.

Happy ERC20 token creation. 

DISCLAIMER: This article is only for information purposes. It does not provide financial advice. Always verify the information and authenticity of any website or service you intend to use.

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