How to Create Your Own Cryptocurrency for less than 1,5$: Step by Step

The first thing we will need to do is to buy BNB, binance coin, as it is the currency used to pay for the commissions in the binance Smart chain. To do this, in this video, we will use binance to buy BNB and then send it to our wallet.

If you don’t have an account with binance, below I will leave you a link to create your account and follow the steps.

Buy BNB and send it to your wallet

The first thing we need to do is to log into our Binance account, make a deposit and buy BNB.

Once you have deposited funds in your currency, go to markets, search for your currency, in my case euros, and click on the bnb/eur pair. Here go to buy, the green button and exchange your euros or your currency for BNB. You can go back to the main panel to check that you have BNB in your account.

With the bnb in our balance, we must withdraw it to our metamask wallet, but first let’s see how to create your metamask wallet.

You can click on the link in the description to install metamask, in the google chrome extension. Click on download for Chrome ios or Android. Although in this video, we are going to watch it on computer and install the metamask Chrome extension.

We install metamask, add to Chrome, and open it. Now, if you’re new, we’ll click yes, let’s get set up. Create a wallet, no thanks, and we will create a password for the wallet. In addition to the seed phrase, which is the recovery phrase of your wallet, and you will have to write it down somewhere, because later it will ask for it. With the seed phrase indicated again, we will have our metamask wallet.

The next thing to do is to configure the binance Smart chain. Since by default, metamask comes with the etheruem network, but does not have the binance Smart chain by itself. To do this, we will open our metamask wallet, click on the top right, and go to settings. Networks, and add network. Now we will copy the information that you can see on the screen, and I will leave you a link to the article so you can copy it more easily. Remember to copy the binance Smart chain mainet if you look at the article. Once you have copied the information you see on the screen, if you click on networks above, you will see that the binance Smart chain appears as an option, and we will select it.

With the binance Smart chain configured in metamask, the next thing to do is to send BNB to our wallet.

To do this, we will go back to binance, go to wallet and spot wallet. Here, we will search for BNB, and click on withdraw or withdraw. You will see the following panel.

Now, we open our metamask wallet and click on your address to copy it to the top. With the copied address, go back to binance and paste the address, enter the amount and the network, which you must enter BEP20 Check that everything is correct and that you have entered the BEP20 network and click on confirm, enter the codes and confirm the transaction. Note that there is a minimum withdrawal of BNB, and if you do not have more than the minimum you may not be able to withdraw it. If this is your case, you should buy some more BNB. After a few minutes, you should be able to see your BNB in your wallet.

Code to create your own cryptocurrency

Now that we have BNB in our wallet, let’s see the process to create your own token. Now we are going to need the code. In this link, there is the information and code that we will use to create our token and we can copy it. I will leave the link also in the description so you can access it.

Don’t be scared to see code, it’s really simple and now we will see everything you need to change or do step by step.

The first thing we are going to do is copy all the code, and go to remix.ethereum.org. select contract, create a new file, select this, and indicate the name we want. Remember that it is programming something in solidiity, the language of ethereum to create the token.

Parts of the code to change

Now with the file created and the code pasted, there are only three lines we need to look at. The coin supply or the number of coins you want for your token. This defaults to 10,000 tokens. Do not include any commas or periods in the number of tokens if you want to include more zeros.

Now we can change the name of the token, it can be anything you want, we will call it danfans but you can put any name you want, and the token symbol. Usually it is the acronym for the token. We have indicated DFS as the token. This is the only code you have to do.

This is all, as you can see, very simple. Now we only need to compile it, which is the next step. For it, we will click here, in the compiler. Make sure that the solidity version is the same as the compiler version to avoid errors. You can see the solidity version at the top of the code. This code for example uses 0.8.2, and here we will select the same, 0.8.2.

Now we click on compile token, and we will see two warnings. Although nothing happens, we can still run the code. Now we will go to deploy, and change the enviroment to injected web3, this will open metamask, and we will be able to launch our token in the binance Smart chain.

You can do this for free on the testnet, but here we are going to do it live, on the mainnet. Now click on deploy, this will open our metamask wallet, and you will see the cost of creating the token, in this case, 0.004449 BNB. This depends on the current BNB price, in the last weeks it is between 250 and 350$. So it will cost you a dollar or less depending on the BNB price to create the token.

Click on confirm, and wait. It is not going to be directly accessible, for that we will have to go back to metamask, copy the address of our wallet. This is what is displayed when you click on deploy contract. Click on the down arrow, and now we are going to transfer the tokens to our wallet. It can be any amount we want. We go to transfer, and we paste our address, put a comma (,) and a 1. It can be 1, 10 or a million, whatever you want. So we will click on transfer, transact, and it will open metamask, confirm and that’s it. You will have your token in your wallet.

Now we will go to bscan, and paste the address of our wallet. If we go to token and click on the arrow, we will see the tokens we have in our wallet. And as you can see, there are a million danfans. Now you have your tokens as you can see.

How to add liquidity of your token in Pancakeswap

 Finally, let’s make our token public on pancakeswap so that anyone can buy it. Pancakeswap is the main DEFI Exchange in the binance Smart chain and the most used. The first thing is to connect our wallet, in my case I already have it connected, but just click on the top right and confirm in your metamask. Click on connect and confirm in metamask.

Now with our wallet connected, we will go to trade, liquidity, and click on add liquidity. The pair will be against bnb. For this, we need to select our token. To do this, we will go back to bscan, and select the token, in this case danfans. We will copy the contract address. Next we will go back to pancaekswap, and in input we will paste the contract address we just copied. You will see that it detects our token, and we will click on the token.

We will see the message that we are the first to add liquidity to this pair. And that we can indicate the price we want for our tokens, and once we are satisfied with the price add liquidity.

You will also be able to add liquidity with other tokens instead of BNB, such as binance usd or others. In input we will put all the tokens if we want, a million, well I will leave a token in my wallet.

And in bnb input, I’m going to put 0.01 bnb liquidity. Now the price, it would be one million tokens, it’s equal to 0.01 bnb. We click on approve DFS, confirm in metamask, and click on supply next. Confirm that all the information is correct, and click on create a pool and supply. Confirm in metamask, and we will have liquidity in pancaekswap of our token. Now in bscan we can see that the transaction has been successful.

Below once the transaction is done, we will see in LP TOKENS in our wallet, dfs/bnb pair that I have 99% liquidity. And that should do it. Now you can go to the swap and buy your tokens or let other people buy them. And if there is demand for your token, the price will go up.

As a summary, we have seen how you can launch your own token in the binance Smart chain for less than 2$. buying bnb in binance, creating your first metamask wallet, sending bnb in your wallet, creating the token with the code and adding liquidity of our token in pancakeswap so anyone can buy it.

I hope it helped you to create your first token without spending a lot of money or a lot of time. Remember that if you don’t have an account with binance, below you can find a link to create one.