We are here to solve the query of ‘How much does it cost to create a crypto token? Newbie startups and entrepreneurs who want to create their own crypto token would first search for this query. If you find yourself in that category, don’t worry, we’ve shown you how much does a token cost
This is because creating a crypto token has now turned out into a lucrative business idea, especially for newbies. Eventually, startups will have only a limited budget for crypto token development. Hence, estimating the cost expenses would be a piece of relevant information for you.
Not only about cost breakdown, we have also mentioned the important factors that influence the cost of building a crypto token. Without any secondary thoughts, let’s delve into the topic…
How Much Does It Cost To Create a Crypto Token?
The approximate cost to create a crypto token will be around $5,000 to $12,000, depending on your business plans and needs. Various factors are crucial in determining the overall cost to create a cryptocurrency token. If you are considering to create a crypto token, then know about the factors first.
This will help you to frame your business budget and other considerations. We have provided the complete set of factors that influence the cost estimation for crypto tokens. It is only natural that money-making ideas from the stock market find their way to the crypto space. This has given everyone an equal chance at success, not just the elites at the top. The crypto industry is open to all, unlike private equity or real estate. Now you will get an overall idea of how much is a token costs. Additionally, it’s essential to know about…
What Are The Factors Affecting The Cost Of Developing Crypto Tokens?
The 8 important factors that influence the cost of creating a crypto token have been listed below,
Consulting Services
To create a potential crypto token for your business, you need to get legal, and technical aspects consultations from developers. If you know more about the crypto token creation, then you can create it by yourself. But, when you want to create your token in a hassle-free manner, then take advice from the expert team.
You can approach either a crypto token consultant or a crypto token development company to accomplish your ideas. At an average, a freelance consultant will charge you $45/per hour to $60/per hour. Is that more, right? Then you can approach a Crypto Token development services because they will provide the consultation services along with the token creation package.
Development Methodology
The most important factor that takes a primary role in the token creation is your choice of token creation. Numerous ways are there to create crypto tokens for startups. We have listed some of the most trustable and desirable methods,
- Approaching a Freelancer – If you are capable of launching crypto tokens, you can seek help from a freelancer for certain works like designing, feature integration, etc. Yet, you must thoroughly analyze the portfolio and past works of the freelancer before creating a token. They may commit technical errors, bugs, or mistakes while creating the tokens. A freelancer
So, keep the option of choosing the freelancer as a plan B. Rather you can choose a reputed crypto token development company for developing crypto tokens.
- Development Company – It is better to choose the token development company because they would have a team of developers, designers, and testers. You can also suggest your business specifications for creating crypto tokens. Even after the token launch, they will sort out technical issues and upgrade the crypto tokens accordingly.
As mentioned above, the development companies will offer consultation services as a complete package along with the token creation. So, you can develop your crypto tokens without any tension or worries.
Token Design & Blockchain Platform
In the dynamic cryptocurrency market, if you want to catch the eyes of crypto users, then your tokens must possess unique designs. Additionally, each blockchain possesses different features and gas fee structures.
So, choose wisely for your crypto business. Also, choose the relevant token standard and Tokenomics structure for your crypto token development. For instance, Ethereum token creation will differ from BEP20 token creation. So, you need to get relevant guidance from blockchain developers to get the perfect solution for token development.
Legal/Regulatory Compliance
Hire a skilled set of legal experts to eradicate illegal activities, and scams. You should not fall for cheap token creation without proceeding with legal factors. Each region and country has framed laws, regulations, and norms for creating crypto tokens. So, while you tend to develop a token, get advice from a legal expert.
Access to Token Creation Tools
If you are approaching a freelancer you need to provide them with additional resources for the crypto token creation. For advanced-level token creation, you need to upgrade the monthly plans for token generator tools. So, if you are approaching a freelancer be aware of these issues. Some may cost hidden charges based on the third-party service access and token creation tools.
Feature Integration
As mentioned earlier, each blockchain has its own features and functions. Some of the features you have to integrate have been mentioned below,
- Token Supply – The basic feature of mentioning the total crypto token creation.
- Token Source – Each blockchain will possess a source code for a protected token development.
- Remove Credits – The source code of the tokens can be removed by the smart contracts.
- Decimal Value – The token creator will include the decimal value of the specific token.
- Supply Type – You can mention the total supply value, maximum, and minimum supply.
- Access Type – Based on the token standard, the access value can be varied.
- Burnable – A specific number of tokens can be burnt in need to increase the demand.
- Mintable – A sum of tokens can be minted to increase the token circulation in the market.
- Taxable – For each crypto token transaction, a certain amount of fees is collected.
- Anti-Whale Protection – For secured token transactions, anti-layer protection is given to users.
These features can be varied based on each blockchain and token standard. Hence, it is necessary to know the unique feature of each token standard. Apart from these, if you want to implement more features, then it may charge you more cost.
Crypto Token QA
The foremost factor that impacts the token development cost is Quality assurance. Almost a quarter of your business budget will directly go into ensuring the working, and quality of the crypto tokens. You have to approach the token testers to ensure the accessibility of the tokens. As you are introducing a new digital asset, you are responsible for providing it perfectly.
Token Marketing
After all the token creation, it is important to promote your crypto tokens to the digital world. You can hire a new set of marketers or promoters to market your crypto tokens. Or else specific crypto token development companies will offer token marketing services.
Hire content creators to post blogs and microblogs related to your tokens on dedicated crypto-related websites. If you are going to launch an ICO, then prepare a complete whitepaper regarding your tokens and Tokenomics.
Auditing & Upgradation
Once the tokens are launched successfully, then it is essential to upgrade them at once to ensure their quality. Multiple tiers of auditing are required to stay up-to-date in the dynamic crypto world. You can also hire security testers to integrate relevant token security measures to prevent hacks.
On the whole, as per our analysis, we have mentioned the cost breakdown for creating a crypto token.
| Parameters | Average Amount |
| Consulting | $500 – $1,500 |
| Development Methodology | $4,500 – $7,000 |
| Token Design & Blockchain Choice | $1,000 – $1,500 |
| Legal/Regulatory Compliance | $650 – $1,000 |
| Token Creation Tools | $500 – $750 |
| Feature Integration | $1,000 – $1,500 |
| Testing | $2,500 – $3,000 |
| Token Promotion | $2,500 – $3,500 |
| Auditing & Upgradation | $1,500 – $2,000 |
These are the important features that influence the cost estimation of crypto tokens. So, coordinate with a professional team to create a crypto token with potential features. As we have seen the impacting factors for cost breakdown. Now, we have also mentioned some of the tips to reduce the cost estimation.
How To Minimise the Cost To Create a Cryptocurrency Token?
Newbie startups need to know the tips and tricks to reduce the unnecessary cost of creating a crypto token. We have analyzed completely and mentioned some of the tips here,
Choosing blockchain With low gas fees
In the crypto industry, it is important to identify the best blockchain with low gas fees to create crypto tokens. For instance, Creating an Ethereum token will help startups support various dApps and other streams. It possesses secured smart contracts which it is highly used in the crypto sector.
Likewise, each token comprises unique token features and functions. As per your business specifications get guidance from the blockchain developers and experts.
Concentrate on the essential functionality
Focusing on the essential functionality is a smart strategy for keeping development cost low when creating a cryptocurrency token. Begin with a simple token and incorporate additional features gradually as required. This approach helps you to avoid the upfront expense of developing a complex token from scratch.
Invest your money in Experts
The best tip for every startup is to invest your precious money in an experienced team and developers. This is to ensure your hard-earned money reaches the right place. Choose a reputed crypto token devlopment company based on,
- Expertise & Experience
- Client testimonials
- Quality of delivered products
- The size of the team
- Variety of industries the company has worked with
- Flexibility
- Cost of the services
- Customer Reviews
- Technology StackMinimal Feature Implementation
Try to integrate potential features at a minimal cost. And also try to avoid complex features in the crypto tokens. That may or may not result in technical issues or bugs.
By following these methods, you can reduce the cost estimation for creating a crypto token. Prioritize cost efficiency, but never at the expense of security or functionality. A well-developed and secure token, designed with a distinct purpose, stands a better chance of long-term success. So try to pick the best crypto token development company like Coinsclone.
Why Choose Coinsclone for Crypto Token Development?
Coinsclone is a renowned crypto token development company that comprises a skilled set of token developers, technicians, and experts. We are here to help you out in creating a crypto token at an affordable price. But, we don’t compromise on the quality of your crypto tokens. In reality, we suggest you hire us to reduce your unnecessary cost for crypto token creation.
Along with the token development process, we are also providing other crypto business-related services for crypto newbies. You can simply click the link to contact our developers, in our sales team will get back to you as soon as possible.
Why wait? Contact Instantly for a potential crypto token creation.