How to create a digital currency from scratch (photos)

 

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After the widespread popularity of digital currencies, a number of people are seriously considering creating their own digital currency, but do not know where to start.


In this article, we will learn how to create a digital currency from scratch, with pictures, and in boring detail, as any beginner who does not have any background on the subject will be able to create his own digital currency.


Things you need to be able to create a digital currency

  1. buy “bnb” coin

  2. install “metamask”

  3. Create and upload currency on the network

  4. Adding currency to the “pancakeswap” platform

Here is an explanation of each step separately.

First: Buy BNB


Purchase of “bnb” coin which we will need in the process of inserting the smart contract (Smart Chain).
You must register on the Binance platform from here, log into your account and then from the “trade” menu choose “classic”.

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In the search box, type “bnb” and it will show you the currency pairs in which to buy the currency we want.


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We will buy using “BUSD” currency. You can use any currency you want. Select the amount you want to buy (we will need about 4$ just to create the new currency) and click buy.

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Second: the installation of “METAMSK”

Click on the following link (https://metamask.io/) through this link the following page will appear, click on download now.



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You will be taken to the next window. Download Metamask as an extension to your Chrome browser.

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Now create a new wallet if you don't have one previously.

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You will need to add the following data: Password, confirm the password and then click Create

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Third: Create a digital currency

We will need this data to list BNB on Metamask.

Smart ChainNetwork Name
https://bsc-dataseed.binance.org/New RPC URL
56ChainID
BNBSymbol
https://bscscan.comBlock Explorer URL

From the top menu in Metamsk, select “CUSTOM RPC”

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Copy the previous data and paste it in the specified place as shown in the image, then press Save


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BNB is listed in the Metamask Wallet We will now transfer the coins we purchased on Binance to the Metamask wallet.

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To get your Metamask wallet address, click on the word “account.” The address will automatically be saved in the record. Now go to the Binance platform.


In the “fiat and spot” menu, you will find all the digital currencies you own, in addition to the ones we previously purchased. To withdraw, click on “withdraw”.

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Paste the address of the metamask wallet in the specified place in the image. Make sure to choose the network “BEP20” (in case it is not selected automatically) Select the amount you want to send to the metamask and then set the withdrawal.

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It may take a few minutes for the coins to reach the metamask wallet.

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Now let's go to the following site, click on “contracts” and then create a new contract as in the picture (No. 3)

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Name the new contract however you like. We have chosen the name “Free Deal” for our contract, then copy the following code:




pragma solidity ^0.8.2;

contract Token {

mapping(address => uint) public balances;

mapping(address => mapping(address => uint)) public allowance;

uint public totalSupply = 10000 * 10 ** 18;

string public name = “My Token”;

string public symbol = “TKN”;

uint public decimals = 18;

event Transfer(address indexed from, address indexed to, uint value);

event Approval(address indexed owner, address indexed spender, uint value);

constructor() {

balances[msg.sender] = totalSupply;

}

function balanceOf(address owner) public returns(uint) {

return balances[owner];

}

function transfer(address to, uint value) public returns(bool) {

require(balanceOf(msg.sender) >= value, ‘balance too low’);

balances[to] += value;

balances[msg.sender] -= value;

emit Transfer(msg.sender, to, value);

return true;

}

function transferFrom(address from, address to, uint value) public returns(bool) {

require(balanceOf(from) >= value, ‘balance too low’);



require(allowance[from][msg.sender] >= value, ‘allowance too low’);

balances[to] += value;

balances[from] -= value;

emit Transfer(from, to, value);

return true;

}

function approve(address spender, uint value) public returns (bool) {

allowance[msg.sender][spender] = value;

emit Approval(msg.sender, spender, value);

return true;

}

}

Paste the code on the right side and make the adjustments that suit you. You can specify the number of currencies you want to issue, your currency name and currency symbol as well by changing the values indicated in the image.



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Before proceeding it is important to make sure that the “compiler” matches as shown in the image (we will choose version 0.8.2).

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Head to the menu number 3 on the left side and select “injected web3” and then click “deploy”.


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Now we will make the payment through the metamask. You will find in the metamask a confirmation request for the withdrawal.

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After a few seconds you will find confirmation that the contract for your digital currency (No. 1) has been created.

To withdraw cryptocurrencies to the Metamask wallet (No. 2), go to “token”, then put the address of the Metamask wallet and transfer.


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Now the coins have been added to the wallet.

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Although these coins exist on the net their actual value is zero but now let's add some value to these coins and make them available.


Fourth: Adding the digital currency to the “pancakeswap” platform

After heading to the “pancakeswap” site, we will connect the metamask platform.


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Through the website ( https://bscscan.com/ ) we will paste the address of the metamask wallet into the search box.

We will get a statement of the contents of the wallet, including the coins that we created.

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Let's add liquidity to our currencies as in the picture.


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Add the contract address of the currency.

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Now we will delineate the initial price of the coins.

With the selection of all our coins we will determine the price by the amount of “bnb” coins we will add.


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This will be the last step in creating the digital currency and after adding the liquidity the currency will be available on the BankExwab platform and it will be able to be traded.

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