This is Season 5 Week 2 of Steemit Crypto Academy and I'm writing homework task about "How to Create Your Own Crypto Token" assigned by Professor @reddileep

To create your own token, you need to define certain boundaries in terms of what would be the use case of the tokes, what would be its value, where would it be legal, what would be its tokeneomics how would you manage to maintain its value.
Creating a token may seem easy but the major trouble comes with maintaining it. There is a reason why many tokens are high ranked and others are listed below. Another thing you have to take into consideration is to decide whether you want to create a token or coin. Both of them have their differences that one needs to consider.
The major differences between token and coin are

Token	Coin
Can be created on an existing blockchain	Users need to build a blockchain in order to create a coin
These are used for both as a source of payments and for signing digital agreements	It is used as a source of payment
It can be created using small investment	Requires coding and huge sums of investment
Examples of tokens include BAT, CAKE etc.	Examples of token include BTC, USDT, ETH, BNB etc.

As a summary for the creation of token you need to decide

1. On which blockchain will support it
2. What security measures you will take to prevent hacking and malicious acts
3. Its use cases
4. Consensus mechanism
5. Legality

In this part of the post, I will be using and setting the following things

Blockchain: Binance Smart Chain

Wallet: Metamask wallet

We will be connecting the Binance Smart Chain mainnet with the Wallet and will add BNB to take care of the gas fees.

Creation of the wallet

To create your own wallet, follow these steps

1. Go to Metamask official wallet
2. Click on Download
3. After downloading the extension click on install to install Metamask for the chrome
4. On the chrome web store click on add extension
5. Finally click on add extension
6. Click on create new wallet
7. In the next step agree with the terms and services and hit the create button
8. Create your password
9. Now backup the recovery phase and write down your secret phase
10. Click on next button and in the next phase enter your secret code

Following are the screenshots of the above steps:

Step 1 : Go to Metamask official wallet

Step 2 : Click on Download

Step 3 : After downloading the extension click on install to install Metamask for the chrome

Step 4 : On the chrome web store click on add extension

Step 5 : Finally click on add extension

Step 6 : Click on create new wallet

Step 7 : In the next step agree with the terms and services and hit the create button

Step 8 : Create your password

Step 9 : Now backup the recovery phase and write down your secret phase

Step 10 : Click on next button and in the next phase enter your secret code

Adding Binance Smart chain mainnet to Metamask wallet

1. Click on the network's drop-down button at the top of the page, then selected Add Network
2. Now add the following details
   2.2. Network Name: Binance Smart Chain Mainnet.
   2.3. New RPC URL: https://bsc-dataseed.binance.org or
   https://bsc-dataseed1.ninicoin.io
   2.4. Chain ID: 56.
   2.5. Symbol: BNB.
   2.6. Block Explorer: https://bscscan.com
3. After adding the network copy the address to deposit BNB
4. Now I deposited BNB from another account to the copied address

The screenshots of the above steps are:

Step 1 : Click on the network's drop-down button at the top of the page, then selected Add Network

Step 2 : Now add the following details

1. Network Name: Binance Smart Chain Mainnet.
2. New RPC URL: https://bsc-dataseed.binance.org or
https://bsc-dataseed1.ninicoin.io

3. Chain ID: 56
4. Symbol: BNB
5. Block Explorer: https://bscscan.com

Step 3 : After adding the network copy the address to deposit BNB

Step 4 : Now I deposited BNB from another account to the copied address

Remix IDE an abbreviation for the Integrated Development Environment is the application for building up smart contracts on the Ethereum network. The application is compatible with both desktop and web and that is why it attracts an array of users.

It is an open-source application and thus allow users to develop new contracts or modify the existing contracts. It can work for all other blockchains like Ethereum for the development of the smart contracts.

In this post we will be using it for the Binance smart chain and make use of its plugins which make the coding a lot easier. The benefit of these plugins is that even a non-coding background person can easily work on it.

Procedure to download the Source Code

Step 1 : Go to https://docs.binance.org/

Step 2 : Then on the landing page under the table of content select BEP 20 Asse and then click on Issue BEP20

Step 3 : On the next page go to the source code of the token and click here to download the source code in your PC

The asset code was downloaded to my PC

For customizing the source code

1. Go to https://remix.ethereum.org
2. Under the contract heading right click and click on new file now name this file as BEP20 Token.sol
3. Now open the BEP token file template downloaded on your PC
4. Copy the information in the notepad of this file and paste it in the new file on the remix IDE
5. It is the set your preferences in terms of deciding Name (Token's name), Symbol, Decimals, and Total Supply
6. The name of the token should be distinctive
7. Decimal number determine how shortest of the fragment of the token can be bought
8. The total supply means the total number of the tokens that will be created
9. Now to edit the source code go to the 351 line under the constructor
10. After locating this line add your name, symbol, decimal, total supply such as
    10.1 name: "SALMAN";
    10.2 symbol: "SLM";
    10.3 decimals: 18;
    10.4 Total Supply: 10000000 * 10 ** 18;
11. After you have added the input then click on Solidity Compiler from the left on the window and then select Compile BEP20 Token

Step 1: Go to https://remix.ethereum.org

Step 2: Under the contract heading right click and click on new file now name this file as BEP20 Token.sol

Step 3: Now open the BEP token file template downloaded on your PC

Step 4: Copy the information in the notepad of this file and paste it in the new file on the remix IDE

Step 5: It is the set your preferences in terms of deciding Name (Token's name), Symbol, Decimals, and Total Supply

Step 6: The name of the token should be distinctive
Step 7: Decimal number determine how shortest of the fragment of the token can be bought

Step 8: The total supply means the total number of the tokens that will be created
Step 9: Now to edit the source code go to the 351 line under the constructor
Step 10: After locating this line add your name, symbol, decimal, total supply such as
10.1 name: "SALMAN";
10.2 symbol: "SLM";
10.3 decimals: 18;
10.4 Total Supply: 10000000 * 10 ** 18;

Step 11: After you have added the input then click on Solidity Compiler from the left on the window and then select Compile BEP20 Token

Step 12: The source was compiled successfully now click on Deploy and Run transactions and click on Deploy

Now we can see all the details of the project

Now to add your created token to the wallet follow these steps

Step 1: Launch the Metamask wallet
Step 2: Then click on manually connect to the site button

Step 3: Click on the next button

Step 4: Click on connect

Step 5: The metamask wallet will be connected

Step 6: In the next step go to the Remix IDE environment window and select injected Web 3 and click on Deploy button

Step 7: The gas fees was 0.00786593 BNB and then click on confirm

Step 8: And we will import the token to Metamask wallet for this fetch your token address

After successful deployment code fetch the token address from the inspection element My token address is:
0x5B38Da6a701c568545dCfcB03FcB875f56beddC4

Step 9: on the metamask wallet click on import tokens

Step 10: now click on add custom token
Step 11: copy your address

Step 12:. in the next page the details of the token will be shown
Step 13: click on import token

To verify the transactions we will to the debugg dropdown menu in the Remix IDE and copy the transaction hash

Transaction hash

0xce1b000a01ba97c86f54241a936865017b20ba4f7bfb42203558d71d16117a8b

To verify the details we will go to the https://bscscan.com and paste the transaction hash there to get details
Following are the details of the transaction including the hash, the block number, the gas fee

Following are the details of the token

Creating the token with remix ide was very easy. This assignment was very interesting and I really enjoyed doing it. It was a new thing for me but I tried my best to create my own personal token.

Note :

All the images and Screenshots captured and made by me.

CC:
@reddileep