In fact, many crypto users started to invest in crypto tokens rather than coins. You can trade the tokens effectively in the crypto ecosystem. Moreover, it is quite simple to create a token from the existing blockchain.
Use cases of crypto tokens
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Raise capital - Crypto tokens can be used in fundraising platforms like ICO to raise capital for your business purpose.
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Supports payments - Just like cryptocurrencies, crypto tokens can be used for payments.
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Drive adoption for Dapps - Crypto tokens created for the Dapp can be beneficial to engage more startups.
The crypto tokens are generated on the existing blockchain by creating a smart contract. The renowned blockchain namely Ethereum, Tron, and Binance smart chains support a Fungible and Non-fungible token standard.
Fungible tokens are mutable that can be interchanged in the crypto ecosystem for effectual trading. Similarly, the Non-fungible tokens are trending in the crypto ecosystem. However, the NFT holds immutable properties so that it can gain digital ownership of crypto tokens in the form of Images, Music, Art, and more. Fungible token standards are supported by the high standard blockchains including ERC20, TRC10, TRC20, and BEP20.
As you can create and deploy your own crypto token using solidity in the blockchain. The crypto-token creation process seems to be simple but it consumes a lot of effort and time to develop a token. Moreover, you might get confused with the technical portion while developing a crypto token. It is suggested to approach skilled professionals who can assist you in developing a crypto token by providing the best services.
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