How Much Does it Cost to Develop an Ethereum-based ERC20 Token?
Tags: createyourownethereumtoken, erc20tokendevelopment, ethereumerc20token, ethereumtokendevelopment
Published: 2020-12-16 06:05:00

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Are you looking for the ERC20 token development cost?. If ‘yes’, then you are in the right place, my fellas!. Currently, blockchain-based projects are raising the funds by launching their own ICO or STO. These crowdfunding schemes have been helpful for many startups and entrepreneurs by acquiring funds from investors. 

Basically, ethereum is the prominent token development platform for most of the blockchain projects. Thus, ERC20 Tokens has become one of the effective standards for crypto tokens. Also, ethereum smart contracts that are completely built on ERC20 compliant. Also, the positive impacts and beneficial factors of ERC20 tokens made many people approach ERC20 token development service.

Before creating an Ethereum(ERC20) token, you need to know the ERC20 token development cost. So this article covers the concept of the ERC20 tokens and the cost to create an ERC20 token.

###**What is an ERC20 Token?**

Ethereum blockchain-based crypto tokens are generally known as the ERC20 tokens. This blockchain creates an open software platform that enables developers to build and deploy decentralized applications (dApps). 

Ethereum token is a kind of digital assets that are built on a powerful Ethereum blockchain network to crowdfund or run ICO. They are just a particular kind of smart contract that is built on the Ethereum blockchain.

In other words, the ERC20 token is a blockchain-based digital asset with similar functionalities. Such as bitcoin, Tron, Ripple, and bitcoin cash. These tokens can hold a value that can be sent and received. The significant difference between 

ERC20 tokens and other digital currencies is that ERC20 tokens are entirely developed and deployed on the ethereum blockchain. Whereas bitcoin and bitcoin cash is the native digital currencies of their respective blockchains. 

Now, let us see….

###**Major Reasons to Create an ERC20 Token**

Ethereum Tokens are simple and you can deploy the token on the ethereum blockchain without any hassle.
ERC20 standard helps to solve the problems with the variety of tokens they manage.

ERC20 is the first specification to offer Ethereum token standardization. This is due to the popularity among investors.  

For the popularity of ERC20 tokens, this ERC20 standard has become the industry specified token standards.

The common factor between ERC20 and other ethereum token standards is ERC20 tokens are also implemented on smart contracts and executed in a decentralized manner on Ethereum Virtual Machine.

Thus, many business class people and startups prefer to create their own ERC20 tokens using the ethereum blockchain. Now, you may have a question like…

##**How to Create an ERC20 Token?**

ERC20 is a standard protocol for writing Ethereum smart contracts and creating ethereum tokens. In general, the ERC20 standard is a common list of rules and functionalities. So the ethereum token has to be implemented before performing an ICO or any crowdfunding platform.

If you are good with technical skills, then you can create your own Ethereum token by considering some essential factors. Here is the list of important factors to consider while creating an ERC20 token.

Decide how the ethereum token should be

* Token Name
* Token Symbol
* Token Decimal Places
* The number of Tokens in circulation
* Code of the contract
* Choose the best ERC20 token development company
* Verify the source code

By considering these factors, you can **[create your own ERC20 token](https://www.icoclone.com/blog/create-your-own-ethereum-token-erc20)** easily.

###**Features of ERC20 Token Development**

Here is the list of essential features that you can get in the best ERC20 token development service.

* ERC20 Contract generation
* ERC20 token wallet app for android, ios, etc.
* Setting Initial Supply
* Setting No of Issues
* Setting Fractions
* Deploy Contracts
* Generate Tokens
* Validate Contract
* High-end security mechanisms

Now, let us dive into our important discussion

#**Cost to Create an ERC20 Token**

Ethereum token development cost is one of the essential factors that must be taken into account while creating a token. The cost to develop an ERC20 token depends on some of the factors. Such as 

* Token features 
* Token design 
* Number of tokens that you planning to create
* The complexity of the token creation project
* Token testing 
* Distribution 

Thus, approximately ERC20 token development ranges from **$4k to $7k.** But the development cost might vary according to your requirements. Many startups and entrepreneurs will create their tokens to raise the funds by utilizing the crowdfunding models. Then they will list their tokens in the various prominent crypto trading platforms.

Thus, it is crucial to select the top-rated ERC20 token development company for creating the ERC20 token. Also, they must offer the best ethereum token development services. Now, you might ask…


###**Where to Get the Finest ERC20 Token Development Service?**

When it comes to the best ERC20 token development service, Icoclone will be in the first position. Icoclone, an award-winning **[Crypto Token Development Services](https://www.icoclone.com/blog/crypto-token-creation-services/)** in the industry. They excel in offering the finest ERC20 token development services with impeccable outcomes. Apart from this, they also expertise in offering **[TRC20 token development](https://medium.com/cryptodition/how-to-create-a-trc20-token-beginners-guide-1ae2b018225c)**, ERC20 token mobile wallet development, ICO development, and more. They have highly skilled and experienced developers to create and deploy the ERC20 tokens as per your business requirements at the best market price.