Crypto Token: Your own crypto token can also be created.

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Many cryptocurrencies have been developed in the last few years, the most popular of which are currencies like Bitcoin, Ethereum, Dogecoin, Litecoin.

Simply put, cryptocurrency is a kind of digital currency, which can be in any form of coin or token.

These two things are quite different from each other.

Interestingly, you can also launch your own crypto token.

In this article, we will learn how to create your own crypto token and how it differs from crypto coins.

What are crypto tokens?

Coins and tokens are both cryptocurrencies, but the difference is that coins run on their own blockchain technology.

Blockchain is a digital ledger on which the data of the transactions on the block is stored.

Each block is linked to its previous block through a unique hash code.

Tokens are placed in the class of digital assets and they work on any other already existing blockchain.

For example, Ethereum is a blockchain platform and has its own token, Ether.

But like Ether, there are many other types of tokens, which run on the Ethereum platform. 

Coins run on their own digital ledger whereas tokens do not have their own platform, they run on some other platform.

Coins, which can only be digital, tokens can also represent something physical.

That is, tokens are a form of online contract, which can also be assigned offline to something, such as a ticket, or coupon or any such redeemable points. 

How are crypto tokens released?

Just as IPO ie Initial Public Offering is opened in the stock market, similarly tokens are issued through Initial Coins Offering (ICO).

Tokens are introduced through crowdsales.

Investors can buy publicly available tokens even after the ICO is over.

If a new token is to be created, then it will be made on crowdsales and anyone can create them.

Those who are interested, they will invest in the token or will fund that token through the already existing coins.

How can I launch crypto tokens?

It is generally believed that creating your own crypto token is a very complicated and lengthy process and requires very fine technical know-how and coding.

However, now this is not quite true.

Now there are many platforms where people can create their own token.

For example- There is a user-friendly application, CoinTool, which allows people to create their own crypto coins.

On this app you can choose the name and symbol of your token.

It may also happen that a user starts a crypto coin without any ICO and confines it to his small community, in which his friends and acquaintances can invest.

Tokens are easier to create than coins – coins have their own blockchain to operate, whereas tokens operate on an already existing network, allowing them to be created quickly and easily operated And they are less expensive than coins.

Also, you will not have to pay any penalty for generating the token.

That is, if you create crypto tokens just out of curiosity, then you will not suffer any loss.

Tokens represent anything, so they have no monetary value of their own.

However, be aware that if you have just created a token out of curiosity, do not sell it on crowdsale, there is a possibility of being accused of misleading or cheating many times.

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