With the increased adoption of blockchain technology, the use of crypto tokens is also increasing day by day. Generally, crypto tokens represent the digital asset or any specific use. The main difference between a cryptocurrency coin and a crypto token is that it was built with the help of other popular existing blockchains such as Ethereum, Tron, and the BNB chain.
A startup can issue their newly created crypto tokens when they launch any crypto crowdfunding platforms such as initial coin offering, security token offering, etc. Before that let me precisely explain the types of crypto tokens and their token standards.
Based on the usage of the crypto tokens, they are categorized into two types that are Fungible tokens & Non-fungible tokens.
Fungible tokens have the fungibility property which means these types of cryptographic fungible tokens are identical or uniform. Typically, it can be interchanged with another type of fungible token without any hassle. Also, fungible tokens can be divisible too. Currently, the most popular fungible token standards among emerging startups and entrepreneurs are ERC20, TRC20, and BEP20.
On the other hand, non-fungible tokens are a special type of virtual tokens. It represents any unique type of art, music, collectible, video, etc. Unlike fungible tokens, non-fungible tokens have no standard value that's why they cannot be split up or exchanged by the same type of another non-fungible token. So it is fully a non-interchangeable token. ERC721, ERC1155, TRC721, and BEP721 are the best NFT standards for the creation of non-fungible tokens.
Hope I have shared some facts about fungible vs non-fungible tokens. Before creating any crypto token, one should need to choose the popular blockchain and its token standard.
If you are planning to create crypto tokens for your business, then choose the best Crypto Token Creation company. Compared to creating a crypto token on your own, this is the best choice where you can create your crypto token with unique and advanced features. Their talented token developers create your crypto tokens on desired token standards at an affordable cost.
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