In recent years, the world of cryptocurrency has gained a lot of attention and acceptance. One of the most important aspects of the crypto ecosystem is the creation of crypto tokens. These digital assets have been used by many businesses to raise funds and promote their brands. If you are a startup, creating a crypto token can be a smart move. So without any delay, let us quickly know about the crypto tokens.
What is a Crypto Token?
A crypto token is a digital asset that is built on existing blockchain platforms. It runs on software protocols comprising smart contracts which outline the token's characteristics and roles. These crypto tokens can be traded on a blockchain network and are used for numerous purposes. As it is flexible, you can use them in a crypto exchange for goods and services.
Here we explore some of the reasons stating “Why startups should create crypto tokens for their business?
What is a Crypto Token?
A crypto token is a digital asset that is built on existing blockchain platforms. It runs on software protocols comprising smart contracts which outline the token's characteristics and roles. These crypto tokens can be traded on a blockchain network and are used for numerous purposes. As it is flexible, you can use them in a crypto exchange for goods and services.
Here we explore some of the reasons stating “Why startups should create crypto tokens for their business?
- Fundraising
- Brand Promotion
- Increased Liquidity
- Cost-Effective
- Community Building
- Control (ownership of tokens)