When it comes to creating your own ERC-20 token, creators are faced with a series of questions: How to create your own ERC-20 token? Is it possible to write and deploy a smart contract without technical skills and knowledge of Solidity? What's better: using an ERC-20 token generator or hiring a professional smart contract developer?

To answer these questions, a careful analysis of each token creation method is necessary to identify their key advantages and disadvantages.

In-House Development of ERC-20 Token

To create and deploy an ERC-20 smart contract independently, knowledge of Solidity is required, or at the very least, familiarity with JavaScript. Understanding the specifics of the ERC-20 standard and OpenZeppelin contracts is also necessary.

In-house development has several characteristics:

• Flexibility: With experience in smart contract development, you can create your ERC-20 token to meet the specific requirements of your project.
• Relative affordability: You only pay the network transaction fee (Gas) for contract deployment. The fee depends on the Ethereum network's congestion and can range from 0.04 ETH and above. Gas prices can be monitored on specialized services like Etherscan Gas Tracker. 
• Transparency: You take full responsibility for the contract's security and any potential vulnerabilities in its code. Security directly depends on your technical skills and experience in smart contract development.

Outsourcing: Hiring ERC-20 Smart Contract Development 

Many projects and startups, especially those already profitable or financed, planning to launch an Initial DEX Offering (IDO), often turn to companies offering smart contract development services for ERC-20 token issuance. Why hire a team of Solidity developers just for creating one contract when you can describe the token mechanics and order the service?

Let's consider the main features of outsourcing smart contract development:

• Security: This method ensures a high level of security. Many smart contract development companies also serve as auditors, possessing extensive experience and qualified Solidity specialists.
• Cost: Services of companies in smart contract development can be quite expensive. Typically, ERC-20 contract development starts from $10,000. High prices are usually justified by reputation, increased responsibility, and higher wages for qualified employees.
• Development timelines: Depending on the contract's complexity and the company's popularity, development timelines can vary from weeks to months.

ERC-20 Token Generators

Services for creating and deploying smart contracts have gained popularity recently due to the following advantages:

• Speed: The token creation process usually takes no more than an hour. Most generators also offer testing token creation in a test network without any cost.
• Simplicity: Creating contracts using generators does not require deep technical knowledge, although understanding the ERC-20 standard and its basic functions would be beneficial. 
• Relative flexibility and security: Generator developers usually have significant experience in smart contract development and auditing. The contracts they offer are optimized, constantly tested, updated, and have extensive functionality, covering up to 90% of market demands.

Conclusion

The choice between token generators, in-house development, and outsourcing depends on your project's specific requirements, budget and goals. Token generators provide a quick and affordable start but come with limitations in customizing token mechanics. Independent development offers flexibility but requires technical expertise and audit costs. Outsourcing provides the highest flexibility and security but demands significant investment and time to find professionals. Carefully consider all these factors to make an informed decision that aligns with your project's goals and resources.