How to create your own BEP-20 Token on the Binance Smart Chain?

What is a cryptocurrency? How does cryptocurrency work? How to create my own cryptocurrency? I’m sure you have all of these questions today but don’t worry we have the answers for them. Keep reading to gain more knowledge of cryptocurrency and how to benefit your business from it.

Spoiler: It’s easier to use a tool like Create My Token and it only takes 1 minute instead of the hours it would usually take!

What is a BEP-20 Token?

Let’s first talk about the ERC-20 Token Standard on the Ethereum Blockchain.

The ERC20 Token Definition provides basic functionality to transfer tokens, as well as allow tokens to be approved so they can be spent by another on-chain third party.

This standard allows you to create your own tokens or coins on the Ethereum blockchain. You just need to create your own Smart Contract and deploy it on the blockchain.

BEP20 Token standard is the same ERC20 standard but on the Binance Smart Chain and allows you to create your own token.

The usual hard process of creating a token

There are many libraries that provide existing contracts for ERC20 specification, but often you need to do the work to implement specific functionality as well as specifying the important aspects such as the name, symbol, and decimals.

It often takes a lot of time to set up all of the stuff more so than actually deploy the Smart Contract. You need to learn how to write code in Solidity and more so using networked chains.

For this reason, it’s highly recommended to use an online tool like Create My Token to create your own, it provides all the functionality you’d have in your own token but saves hours of time!

Using a tool like Create My Token only requires you to have MetaMask and enter basic information about your tokens such as the Name, Symbol, and Supply and it lets you deploy any type of contract including Mintable, Burnable, Advanced, Unlimited, and even custom Taxable tokens!

How does the BEP-20 token look like?

The smart contracts on EVM compatible chains like the Binance Smart Chain are defined using an interface. The interface for BEP-20 looks like this:

pragma solidity 0.6.4;

interface IBEP20 {
    /**
     * @dev Returns the amount of tokens in existence.
     */
    function totalSupply() external view returns (uint256);

    /**
     * @dev Returns the token decimals.
     */
    function decimals() external view returns (uint8);

    /**
     * @dev Returns the token symbol.
     */
    function symbol() external view returns (string memory);

    /**
     * @dev Returns the token name.
     */
    function name() external view returns (string memory);

    /**
     * @dev Returns the bep token owner.
     */
    function getOwner() external view returns (address);

    /**
     * @dev Returns the amount of tokens owned by `account`.
     */
    function balanceOf(address account) external view returns (uint256);

    /**
     * @dev Moves `amount` tokens from the caller's account to `recipient`.
     *
     * Returns a boolean value indicating whether the operation succeeded.
     *
     * Emits a {Transfer} event.
     */
    function transfer(address recipient, uint256 amount) external returns (bool);

    /**
     * @dev Returns the remaining number of tokens that `spender` will be
     * allowed to spend on behalf of `owner` through {transferFrom}. This is
     * zero by default.
     *
     * This value changes when {approve} or {transferFrom} are called.
     */
    function allowance(address _owner, address spender) external view returns (uint256);

    /**
     * @dev Sets `amount` as the allowance of `spender` over the caller's tokens.
     *
     * Returns a boolean value indicating whether the operation succeeded.
     *
     * IMPORTANT: Beware that changing an allowance with this method brings the risk
     * that someone may use both the old and the new allowance by unfortunate
     * transaction ordering. One possible solution to mitigate this race
     * condition is to first reduce the spender's allowance to 0 and set the
     * desired value afterwards:
     * https://github.com/ethereum/EIPs/issues/20#issuecomment-263524729
     *
     * Emits an {Approval} event.
     */
    function approve(address spender, uint256 amount) external returns (bool);

    /**
     * @dev Moves `amount` tokens from `sender` to `recipient` using the
     * allowance mechanism. `amount` is then deducted from the caller's
     * allowance.
     *
     * Returns a boolean value indicating whether the operation succeeded.
     *
     * Emits a {Transfer} event.
     */
    function transferFrom(address sender, address recipient, uint256 amount) external returns (bool);

    /**
     * @dev Emitted when `value` tokens are moved from one account (`from`) to
     * another (`to`).
     *
     * Note that `value` may be zero.
     */
    event Transfer(address indexed from, address indexed to, uint256 value);

    /**
     * @dev Emitted when the allowance of a `spender` for an `owner` is set by
     * a call to {approve}. `value` is the new allowance.
     */
    event Approval(address indexed owner, address indexed spender, uint256 value);
}

How do I create a BEP-20 Token fast and easy?

Like I mentioned in the previous section, it’s extremely hard to create a token with code and just manually. So I recommend using a tool such as BEP-20 Token Generator which allows you to create a token in your browser itself.

All you have to do is to enter your token details such as the name and symbol and you’re good to go! Simply connect Metamask and the entire process takes less than a minute to complete!

Have fun creating your tokens!