The MCoin Market is Back: How to Create Your Own Cryptocurrency Token (And Why You Should Be Careful)

The crypto market is buzzing once again, with prices surging and new tokens popping up every day. It seems like anyone can create a token these days and become incredibly wealthy overnight. For example, just two weeks ago, someone created a GameStop token that’s already valued at over $75 million. That’s absolutely insane!

But what’s not talked about enough is how you can create your own token and get a slice of that crypto money pie. Before we dive in, let me make this clear: this article is for educational and entertainment purposes only. While I’ll walk you through the process of creating a real cryptocurrency token, the goal here is to show you how easy it is to do, how anyone can do it, and why you should be extremely cautious when trading or investing in these kinds of tokens. The crypto space is the Wild West, and it’s important to tread carefully.

Shoutout to Beza, who made a video a couple of years ago about creating his own token. His video inspired me to try it out and add a few twists of my own. So, with that out of the way, let’s get into it!

The Myth of Creating a Cryptocurrency

I used to think that creating a cryptocurrency required advanced coding skills, a ton of development work, and a massive pile of money to get started. Turns out, that’s not the case—at least not for the meme coins you see flooding the market every day. If you’re building your own blockchain network or developing a complex product, then yes, it’s a lot of work. But for simple meme coins? It’s surprisingly straightforward.

In this article, I’ll show you how I created my very own meme coin. After some late-night research, I realized it’s much easier and cheaper than I thought. The key is choosing the right blockchain network to launch your token on.

Choosing the Right Blockchain

There are several popular blockchain networks to choose from, including Bitcoin, Ethereum, Binance, and Solana. Ethereum is technically the OG network for tokens—Dogecoin, for example, is built on Ethereum. However, Ethereum’s network fees can be a dealbreaker. A single transaction can cost around 

20,whichfeelslikebuyinga

20,whichfeelslikebuyinga10 t-shirt and getting slapped with a $25 shipping fee. No thanks!

Instead, I decided to build my token on the Solana network. Solana is gaining a lot of attention right now, and for good reason. Its transaction fees are almost zero—just a fraction of a cent. This makes it much easier for people to buy and trade your token without worrying about high costs.

Getting Started: Buying Solana

To create a token on Solana, you first need to buy some Solana (SOL). I purchased mine on Coinbase and transferred it to my Phantom wallet, which is one of the most popular wallets for Solana. Once the funds were in my wallet, I was ready to start building my token.

Creating the Token

I headed over to Orion Tools, a platform that simplifies token creation. After connecting my Phantom wallet, I was amazed at how easy it was—no coding required! The process is incredibly user-friendly.

Now, for the fun part: naming the token. I spent a few hours researching trending tokens to see if there were any common themes. After some brainstorming, I landed on the perfect name: Chompy Coin.

Here’s what I filled out for my token:

• Name: Chompy
• Symbol: CHOMPY
• Decimals: 9
• Total Supply: 1 billion
• Description: A meme coin featuring a baby Highland cattle chomping on grass. His fur is magical, and his farts help the environment. (Yes, really.)

 

For the logo, I initially hired someone on Fiverr to create a cartoon version for about $30. Unfortunately, it didn’t turn out how I wanted, so I tweaked it myself using Photoshop and a little AI magic. The result? A cute, chomping cow that’s ready to take the crypto world by storm.

Once everything was filled out, I clicked “Create Token.” The process cost about $45 worth of Solana, and within a minute, I had 1 billion Chompy Coins in my wallet.

Making the Token Publicly Tradable

At this point, I could send Chompy Coin to my friends, but it wasn’t publicly tradable. To change that, I needed to create a liquidity pool. This allows people to buy and sell the token on decentralized exchanges.

I refreshed the page on Orion Tools, selected my token, and created a liquidity pool. I also revoked mint authority, meaning I can’t create more Chompy Coins beyond the initial 1 billion supply. This is important for building trust with potential buyers.

Next, I headed over to Raydium, a decentralized exchange on Solana, and created a market for Chompy Coin. I provided liquidity by adding $2,500 worth of Solana and 700 million Chompy Coins to the pool. This made the token publicly tradable.

To test it out, I created a new wallet and tried buying Chompy Coin using Solana. Success! I was able to exchange 0.25 SOL for about 5.4 million Chompy Coins.

Making the Token Look Legitimate

While my token is now publicly tradable, the job isn’t done. I still had about 30% of the total supply in my wallet, which could raise red flags for potential buyers. To make the token look more legitimate, I could:

1. Lock the Liquidity: This ensures I can’t withdraw the $2,500 worth of Solana and 700 million Chompy Coins I added to the pool. It makes buyers feel safer knowing the developer can’t just pull the rug.
2. Split Up Holdings: Instead of keeping 30% in one wallet, I could distribute it across multiple wallets for marketing, airdrops, or team allocations. This not only increases the number of holders but also reduces suspicion.

I’m not here to scam anyone, so I’m not going to do anything shady. My goal is to show you how easy it is to create a token and why you should be cautious when trading meme coins.

Marketing the Token

Creating the token is just the first step. To make it successful, you need to generate hype and market it effectively. Here’s what I did:

1. Created a Twitter Account: Crypto Twitter is where all the action happens. I made a Twitter account for Chompy Coin and even bought some followers to kickstart the hype.
2. Built a Website: Using Canva, I created a simple one-page website for Chompy Coin. It includes our logo, a description, and a disclaimer at the bottom (shoutout to Beza and Tech Lead for the inspiration).
3. Spammed Twitter: I started replying to Elon Musk’s tweets with pictures of the chomping cow. It’s a silly but effective way to get attention.

Final Thoughts

And there you have it! In less than 30 minutes, I created a cryptocurrency token, made it publicly tradable, and started marketing it. It’s shockingly easy to do, and that’s both exciting and terrifying.

While meme coins can be fun and potentially profitable, they’re also incredibly risky. Memes come and go, and so do meme coins. If you decide to invest in them, only use money you can afford to lose. And if you’re thinking about creating your own token, remember: with great power comes great responsibility.

So, be careful out there in the crypto Wild West. Don’t buy my token—I’m just here to show you how it works. If you enjoyed this article, feel free to share it, and always remember to do your own research before diving into the world of crypto. Take care!