How to create a BEP20 Token on Binance Smart Chain

How to create a BEP-20 Token on Binance Smart Chain

Deploying a BEP20 token to the Binance smart chain is easier than you might think.

One of the best ways to learn more about how cryptocurrencies work is by creating your own digital token. And the good news is, anyone can create their own BEP20 token on Binance Smart Chain.

Binance Smart Chain

If you're looking for a platform with low fees, fast transaction times, and smart contract compatibility, Binance Smart Chain is the perfect solution for you.

Binance Smart Chain is specifically designed for smart contracts and the creation of decentralized applications (DApps).

The BEP20 Token Standard

Creating a BSC token is surprisingly simple. These tokens conform to a standard called BEP20, which is similar to the Ethereum standard ERC20.

The token standard ensures basic functions for the token, such as transferring funds, returning a balance, displaying token ownership, etc.

For each transaction that takes place with these tokens on the chain, a fee must be paid in BNB. This fee is a compensation for the validators for securing the network.

Install MetaMask

Let's start with the requirements to create a BEP20 Token.

Start by downloading MetaMask

Next, create a wallet
Write down the backup seed phrase somewhere secure
Without this phrase, your funds can’t be recovered if your device is damaged or lost
Finally, confirm your seed phrase by following the on-screen instructions

Connect to the Binance Smart Chain

You might notice straight away that we’re still dealing with an Ethereum wallet.
Let’s change that.

We want to access Settings to point the wallet towards Binance Smart Chain nodes.

On the Settings page, navigate to the Networks menu.

Click Add Network in the top-right corner to manually add Binance Smart Chain Mainnet.

Network Name: Binance Smart Chain
New RPC URL: https://bsc-dataseed.binance.org/
ChainID: 56
Symbol: BNB
Block Explorer URL: https://bscscan.com

Create a BEP-20 Token

Start by going to coinmanufactory. If you are using your phone, make sure you are using the browser within the MetaMask app.

Make sure you have some BNB in your MetaMask wallet. If not, you need to transfer some BNB to your MetaMask wallet address.

Choose BEP-20 to create a token on the Binance Smart Chain.

Next you need to fill in the details for your token. You must give your token a name and a symbol. You also need to specify the initial supply of your token and the number of decimal places each token can be divided into.

You can also enable the following features for your token.

Burnable: This check specifies whether your tokens can be burned to decrease the supply.
Mintable: This check specifies whether your tokens can be minted to increase the supply.
Fees/Taxes: This check specifies that a certain percentage of each transaction can be burned and a certain percentage of each transaction will be sent to an address of your choice.
Holder Redistribution: This check specifies that a certain percentage of each transaction is redistributed to the holders proportional to the tokens they hold.

Create Token

Once you select ‘Create', the next interface will show you the fee for the creation. This fee will be in BNB.

The token will be created once you approve this transaction fee.