3 Ways To Create An SLP on Bitcoin Cash

Are you interested in creating a Token to represent your brand, business and for every other incredible purposes? Here's an opportunity for you to Learn how to create a Token. Let's Dive in..

What Is the Simple Ledger Protocol?

The Simple Ledger Protocol abbreviated as SLP is a simple token system for bitcoin cash, this allows anyone, business to create a token on the Bitcoin Cash BCH BlockChain.

Interestingly, Tokens can be created for so many innovative purposes like virtual gaming credits, Community appreciative tips, business dividends and lots more. Also, Tokens can be traded on exchanges without a middle man.

Why You Should Create Tokens Using The Simple Ledger Protocol

Some would want to have good reasons why they should create Tokens on SLP. Let's take a look at this;

• Onchain Transactions: SLP transactions are fully on the Blockchain making it easy for audit ability by any party

• Decentralized: Tokens can be exchanged peer to peer with no trusted third party.

• Open Sourced

• Easy To Use

How To Create SLP Tokens On Bitcoin Cash

Create SLP Tokens Using MintSLP

MintSLP is a Bot service that uses the blockchain to help you create your own cryptocurrency token and share it with others. Using MintSLP, there are no requirements for technical knowledge as the bot is already pre designed to make Token creation easy.

Follow these steps to create a Token with MintSLP;

• Download a Telegram app or log into your Telegram app if you have one already.

• Send a direct message to @MintSLPBot with the command create (token name) (token symbol) (decimal places) (quantity). Example: create splendid SPLENDID 8 100000

• This will create 100,000 tokens named Splendid which can be divided to the 8th decimal place.

With that, you've successfully created a Splendid SLP token on the Bitcoin Cash BlockChain which can be stored in any SLP supported wallet.

Explore More about using MintSLP

Create SLP Tokens Using Mint.Bitcoin.Com

To Create a Token using this method, a little fraction of BCH will be required, let's say $0.05. Now here's how to create a token using mint.bitcoin.com.

• Visit mint.bitcoin.com

• Tap on Create, under New wallet.

• Tap on Send to deposit a fraction of BCH, like $0.05

• After a successful deposit, switch to create.

• Include your Custom token symbol, token name, decimals and quantity.

• Add your Token icon

• Tap on More options to add a White paper, website for access to your token.

• Tap on Create to create your Token.

Learn more about using Bitcoin.com mint

Create SLP Tokens Using Electron Cash SLP Edition Wallet.

• Download and Install the Electron Cash SLP Edition Wallet

• Setup your Electron Cash wallet, this will require you connecting to a server.

• Name your wallet and Select what kind of wallet you want to create.

• You'll be required to add a little amount of BCH to your wallet, let's say $0.05. Once this is done, you can now create a Token.

• Fill in your Token name, a Ticket symbol, document url, decimals and token quantity.

• Click on Create New Token to complete your process.

Learn more about using the Election cash SLP Edition Wallet

In Conclusion,

Anyone, Anywhere can create a Token on the Bitcoin Cash Chain because it's easy to create and distributing them amongst friends is fun. But, the most difficult part of owning a Token is adding value to it.

You Can Read Also:

How to Secure Your Bitcoin.com Wallet

Why You Should Invest In Bitcoin Cash

All You Need To Know About Honk tokens

Effects of Covid-19 On Bitcoin Cash Adoption

Disclaimer

Note that this article is subjected to corrections and can be further developed if changes occurs within the systems listed. A more accurate information to these process can be found on the systems official sites which have been listed after the steps.