Hey everyone. It's been a few weeks since my last update, so I'll quickly recap:

Weeks ago, I created two cryptocurrencies: one mineable scrypt-based coin (called "ColtCoin"), and one ERC token (called "Wraith").

I posted my progress from creation and the challenges I faced once the coins were created, such as getting them listed, and the fees associated with coin creation. (If you'd like to read those posts, they are listed below.)

As of now, I've shelved the coin. With the growing concern over energy usage of PoW coins, the difficulty in getting them listed on coin listing sites, and the shortage of mining computer parts (gpus, cpus, etc.) it's pretty much an uphill battle. I think I'm okay not contributing to the computer part shortage for mining (not that anyone was really mining my coin anyway).

The token has also been put on the backburner. Eth gas fees fluctuate so much, and it costs an arm and a leg to do much with the coin. Sending it to people... providing it as liquidity... moving it from one service to another... all these fees add up (even on low gas fee days).

I also messed up when I made the coin and only made 100k of them, so there aren't many to hand out.

My bad.

Now Onto Recent News

I have now created a third cryptocurrency.

During those past few posts, many of you fine folks suggested that I create a BSC/BEP20 token instead of an Eth token because it's a lot cheaper to create and maintain. And guess what?

You folks were right.

Creating a Binance Smart Chain token turned out to be A LOT cheaper.

To create the coin, I simply copied a generic one page, open source, simple solidity contract, and launched it to the BSC blockchain using Ethereum REMIX.

I ended up reusing the name of "ColtCoin" (Symbol: COLT) because I really liked that name. I know it's not technically a "coin" but it just rolls off the tongue.

And I already had the domain registered. :-p

The fees for doing this were WAY, WAY lower than it was to launch the ETH token the same way; as in less than like $2 USD.

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0.00445 BNB to launch? Noice!

I think the price came out to around $1.35 USD worth of BNB.

I can live with that.

Once it was live, I headed over to PancakeSwap to add some liquidity.

Providing the liquidity was also not too bad, as the fee to do so, was, again, MUCH LESS than it was to supply my "WRAITH" token (the ERC20 token I had created previously).

0.027 BNB to add Liquidity

The fee to add 0.01 BNB worth of tokens ended up being almost 0.028 in total BNB, which came out to around $8 USD. Again, WAY lower than the Eth token was (which ended up being hundreds).

Now, I did mess up here.

I accidentally left out a "0" when I provided the liquidity:

I meant to supply One Hundred Million tokens (100,000,000) but accidentally supplied only 10 Mill.

Oops. I wanted at least 10% in liquidity (probably should have done more, but I wasn't sure), just that it would be there for people to trade if they ever stumbled across it, and I wanted to price to be low. But again, I can't count, and now I have to go back and supply more.

But it worked! And it was a lot easier (and cheaper) than I thought it would be.

CONCLUSION

For anyone looking to create a token or coin, creating a BSC token is the cheapest route (at least between creating a mineable coin, ETH token, or BSC token). It costed me less than $10 to create and provide liquidity for it (of course this fluctuates but it was still way cheaper than an ERC20).

As for getting it listed: The nice thing about BSC coins is they show up right away with BSCscan, and can be traded quickly. If the coin ever reaches a significant ACTUAL market cap, I may try to get it listed. (Future updates would follow)

I purposely did not share the contract address because I'm not here to "shill my scamcoin." I only wanted to share my experience in making it, and the fees associated with it.

If anyone wants to know more, you can message me or find it on PancakeSwap. I might send some out if the fees aren't ridiculously high.

That's it. Thanks for reading!

PREVIOUS POSTS:

PART 1, PART 2, PART 3, PART 4