Since the blockchain market has already more or less started to develop, enthusiasts have launched a wide range of platforms for creating tokens. This means that there are a number of websites ready to handle all the technical aspects so you can create your own cryptocurrency online without registration. Here are a few of them:
- vittominacori github
- cointool app
- guarda co
(Make sure the site is secure before creating tokens on it.)
In our example, we took the cointool app service, but you can use any other one. Before starting to create a token, you need to sync your wallet with the site.
To sync to cointool app, click on the button in the upper right corner of “Connect Wallet.” Your wallet window will drop out. We agree to the terms and connect. Next, we start choosing a network for the token.
Choosing a network and the cost of creating a cryptocurrency
The blockchain network/scaling protocol selection is located in the blue section of the form on cointool app.
You'll pay a pretty penny to create a real token using the cointool app. How do real tokens and test tokens differ from one another? After creating a real token, you can list it and join in trading. It is unlikely that it will be possible to crank up a listing with a test one.
Making a test token and a real token follows the same procedure. You still have to pay a price, even in a test situation! (for no fee tokens). In this instance, we'll take a look at a test case for creating an ERC20 token called Ropsten on the Ethereum testnet.
Connect the wallet to the network
MetaMask connects to the Mainnet and shows the corresponding balance by default. We need to switch to the Ropsten testnet. You can choose other chains as well.
To connect to the test network, open MetaMask > click on the “Ethereum Mainnet” button from above > click on “Ropsten Test Network” in the drop-down list.
When connected to Ropsten, the cointool app site should reload and display the selected “Eth Ropsten” network at the top right. If this did not happen, make sure that your wallet is connected to the site.
Then, we need to get free tokens. To do this, you can use the tap of tokens.
Here are some services for it -
- faucet.ropsten be
- faucet.metamask io
- faucet.egorfine com
Choose any. Once on the website, paste in your public address. As soon as you have sent a request to receive free tokens, you will have to wait. Test ETH will reach your wallet within 5-10 minutes.
Set up cryptocurrency (token) settings
We will start creating the token itself after you have received the test ETH. The following fields are included in the cointool app form:
-Token Name – the name of the token
- Symbol – token ticker (example: BTC, ETH,...)
- Initial Supply – the initial maximum amount of tokens
- Decimals – system of calculations (how minimal your token can be split.
- Burn – burning tokens
- Mint – the ability to create additional tokens
- Pause – the ability to stop all operations with the token
- Deflation – a commission is charged for each transaction with a token, which is then burned
- Super deflation – accelerated mode of the deflation function.
It is optional to fill in all the fields.
Once you have set all the necessary settings> scroll down and press the “Create Token” button. A window will open with a wallet and a request to send ETH to create a contract with your token.
Click “Confirm.” After that, ETH will be debited from the test balance, but new tokens will not appear anywhere. It's all right. A smart contract that uses new tokens is probably not supported by your wallet yet.
We must first get the address of the smart contract that generated the tokens in order to display. To do this, click the "Activity" tab and search for a transaction titled "Deployment of the contract" that was previously purchased with 0.1 ETH. Click "View on block explorer" under the "Details" section after clicking on the transaction.
The etherscan website will be shown to you. This article goes into great detail on how to create a smart contract for your coin. We find the line “To”, where it says “Contract” and the address of the contract itself. We copy this address. Next, open the main page of MetaMask > at the bottom, click “Import Tokens” > in the field “Address of the token contract” and paste the copied address.
The data from the imported smart contract, including the token ticker and the calculation system, should be immediately picked up by the wallet. Simply select "Add Custom Token."
The tokens that were generated are now visible in your wallet.
A scenario that is exactly like this can be used to create a real token. However, real ETH is required, not test ETH.
