Ronald Ryan
by on May 20, 2022

The startup will be able to increase the success rate of a project by using a crowdfunding platform that uses blockchain technology. The use of blockchain in crowdfunding ensures that the funding process is secure and transparent. The ability for investors to participate in this process from anywhere on the planet is a major benefit of using this method.

Project owners prefer initial Coin Offering among all crypto fundraising methods. If you’re going with the ICO, BEP20 token development should be your first step.

Let’s see how & why!

Basics of BEP20

The BSC-native BEP20 token standard relies on a basic understanding of BEP and the BSC connection. The Binance Smart Chain, or BSC, is the first concept to grasp to discuss BEP20. Binance Smart Chain is Binance's dedicated blockchain for smart contract operations. The BSC works in tandem or in collaboration with the Binance Chain, the Binance crypto exchange's first blockchain.

Why Choose BEP20 Token for Crypto Fundraising?

The BEP20 token standard on Binance smart chains will be the best and most appropriate standard for ICOs and token creation.

  • The BEP20 token standard is the most popular in the current crypto space. As a result, creating a crypto token with BEP20 will enable you to enter the market quickly and efficiently.
  • The transaction cost is one of the main reasons to use this standard because the Binance smart chain has the lowest transaction fees compared to other blockchain platforms.
  • Many people have chosen the BEP20 standard for creating crypto tokens because of its recent popularity. Aside from that, several crypto investors are interested in developing the BEP20 token.

Final Thoughts

The overview of the BEP20 token showed how the token plays its role in the crypto fundraising ecosystem. If you own a fund-seeking crypto project, hiring a BEP20 token development company and building your project-specific token is the first step. 

Basic capabilities such as ownership, transfer, balance return, and other basic parameters are included in the BEP20 token standard. Many startups are currently entering the market by launching crypto tokens on the Binance smart chain, each with its unique business model.


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