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Simone Lia
Simone Lia

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Utility Token Development Services

Crypto token creation is one of the high-revenue generating streams in the crypto ecosystem. Many new crypto tokens are being created every year in the crypto marketplace. Generally, a crypto token is a digital token that has the value of a currency, asset, etc. Crypto tokens can be created and used for many purposes.

A crypto token can be created using the token standards of the existing blockchain like Ethereum, Tron, BNB chain, etc. Crypto tokens are generally divided into two types fungible and non-fungible tokens. Fungible tokens have the same values so they can be exchanged with tokens of the same type. On the other hand, non-fungible tokens have unique values and behaviors so they cannot be exchanged with any other tokens.

Other than that, crypto tokens are further divided into various types as utility tokens, security tokens, currency tokens, loyalty tokens, etc. Among all these types, utility tokens are more popular because they have many advantages. They are reliable, credible, and suit most business requirements.

In this article, we shall discuss utility token development, its advantages, etc.

What is Meant by Utility Tokens?

A utility token is the most popular type of crypto token that offers access to various products and services on a blockchain platform. This token can be used as a payment option and also for trading in popular crypto exchanges. In layman’s terms, utility tokens are created without bagging any of the assets.

Utility tokens are the crypto version of fiat currencies. They can be traded in any of the prominent exchanges like Binance, coinDCX, etc. Most of the tokens that prevail in the crypto space are utility tokens. Utility tokens are fungible types of tokens so they can be swapped with tokens of the same values.

The token standards that are used for utility token creation are ERC20 in Ethereum, TRC20 in Tron, and BEP20 in the BNB chain, etc. Other than that, utility tokens can also be created using Waves, Polygon, Solana blockchains, etc.

Some of the popular utility tokens in the crypto marketplace are,

USD coin
Binance USD
Yearn finance
Hedge trade
Wrapped bitcoin
Huobi token
Basic attention token, etc

Reasons Behind Choosing Utility Tokens

There are certain notable reasons for creating utility tokens for your crypto business. They are,

  1. Access
  2. Payment method
  3. Earn Money
  4. Loyalty programs
  5. Voting rights, etc

Applauding Features of Utility Token Development

  • Token wallet app for both ios and android
  • Ethereum/Tron/BNB chain contract generation
  • Setting no of issues
  • Setting initial supply
  • Deploy contracts
  • Setting fractions
  • Generate tokens
  • Token swaps
  • Validate contract
  • Maintains high-level security

Not only these features, but Utility Token Development has many advantageous features. Below mentioned are the benefits of creating utility tokens.

Benefits of Utility Token Development

  • Anonymity
  • Middleman free transaction
  • Features customization
  • Globalized and secured transaction
  • P2P decentralized network
  • Limitless data
  • Used for fundraising(ICO/STO/IEO)
  • Easily traceable

If you wish to develop a utility token in a highly secure manner, you can approach a reputed utility token development service provider in the crypto ecosystem.

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