Is Legit? | Bitbond


Token Instrument by Bitbond and are Web3 dApps the place customers can create tokens (aka good contracts) with out coding.

It isn’t clear who’s the developer of Cointool and the crew behind this venture. Is legit? With solely restricted details about the entity in cost, it’s tough to evaluate and ensure suspicions on whether or not is legit or not.

On this article we are going to introduce a quick overview of, and current Token Instrument by Bitbond in its place.

Create, manage, and multisend tokens

Little, to no details about the entity

It’s unknown who’re the drivers behind the venture. No official enterprise registry, nor basic details about the entity can be found on their web site. The one data we’ve got is that it appears to be primarily based in China, however no official enterprise registry is offered. 

Inconvenient for organizations

Organizations trying to make the most of tokenization are topic to strict regulatory necessities. They require a number of options akin to KYC, whitelisting traders, token lock-ups and lots of extra. doesn’t appear to offer compatibility with options akin to key administration software program, or custody suppliers. Bitbond’s Token Instrument then again, has been developed extra particularly to cater to such necessities or be built-in with high-end third get together suppliers specializing in bank-grade IT safety.

Taking the above into consideration, this appears to be a dangerous platform to make use of should you’re a monetary establishment or group trying to leverage blockchain tokenization inside your entity. With little to no belief offered by the builders of, this might expose entrepreneurs and executives at nice dangers in the case of creating tokens after which promoting them to traders by way of token choices.

Costly and non clear service

Evidently prices on common 0.5 BNB for any interplay occurring with their Dapp (fyi, Token Instrument prices as little as 10EUR for making a token).

When wanting by way of person evaluations of Cointool, lots of the customers appear to be unhappy with the costly and non-transparent service of this Dapp. There additionally appears to be large concern if is legit, as many categorical it being a possible rip-off:

Review of on Trustpilot

A few of the claims that customers made about if Cointool is legit, are that has a hidden pockets handle inside their good contract code that “steals” a few of the charges related to the tokens created by customers. 

Here’s a video by a developer breaking down the declare about stealing person funds. In his video he exhibits how a portion of the tokens’ advertising and purchase again charges are despatched to a hidden pockets applied within the good contract by the house owners of Cointool.

This raises vital doubts concerning the legitimacy of

Absence of Buyer Help

Many customers complain about inexistence of a assist crew to help with a few of the points confronted by individuals using providers. This may be one other indicator to research if is legit.

As a enterprise, your predominant income is out of your purchasers, subsequently making certain a clean buyer expertise throughout your product’s worth chain is indispensable. That is achieved by making the mandatory channels for receiving and dealing with buyer suggestions out there.

Moreover they appear to cost additional for receiving premium assist:

Review of on Trustpilot

Everybody is aware of that comfortable prospects means comfortable enterprise, resulting in extra development and wider viewers using your providers. Why would an entity not have customer support channels to help purchasers with no matter points they could encounter? Doesn’t it emphasize the priority over the legitimacy of your enterprise?

That is positively one other purple flag, and doesn’t assist the doubts concerning if legit is or not.

Cointool options has undoubtedly a number of options. It permits customers to carry out quite a lot of capabilities on the most well-liked protocols on the market with out requiring any coding.

Why use Token Instrument by Bitbond as a substitute?

Token Instrument has excessive compliance requirements

Token Instrument is a Web3 powered software, enabling customers to simply create good contracts, with a significantly better person expertise and a particular focus for monetary establishments wanting into using tokenization to convey efficiencies to their processes.

Apart from it being accessible by anybody, by leveraging Bitbond’s high stage experience, we developed Token Instrument in a way that enables organizations which can be topic to strict regulatory necessities, to profit from the potential of blockchain tokenization whereas sustaining highest safety & security requirements.

It covers a number of choices to configure utility and safety tokens in a granular approach utilizing  parameters akin to whitelisting traders and including an asset documentation reference. This permits issuers to take care of compliance when required, permitting organizations who’re topic to regulatory necessities in leveraging some great benefits of tokenization.

It’s appropriate with essentially the most subtle custody options out there available on the market akin to Metamask / Metamask Institutional, Fireblocks, Qredo and Gnosis Protected.

Token Instrument will be built-in with different merchandise for an all-in-one answer

Token Instrument is a part of Bitbond’s Asset Tokenization Suite. It’s a set of software program elements with which you’ll onboard traders, conduct token choices and create and handle tokens. The Suite consists of three elements:

  • Providing Supervisor: API enabling the administration of traders and orders
  • Token Instrument: Web3 software enabling the seamless creation, administration and distribution of tokens and token choices.
  • Investor UI: A white-labeled frontend software which you need to use with your individual branding. Its major function is investor on-boarding and order submission for a token providing in addition to an built-in investor pockets performance.

Token Instrument is developed by a extremely educated devoted crew

Apart from offering buyer assist for customers needing steerage or having points when using their platform, Token Instrument is being developed by trade specialists which have a confirmed observe document in FinTech and Blockchain. Because the platform is primarily being utilized by monetary establishments and different prestigious organizations, its robustness is much more necessary. Therefore, the crew ensures to at all times ship above and past outcomes, as a way to make tokenization broadly accessible, subsequently, contributing to additional adoption.

Bitbond crew is right here to help you on the journey in the direction of the tokenization of all the pieces. As true believers, it’s in our greatest curiosity to tell you about this expertise so you need to use it within the most secure approach attainable, subsequently, capitalizing on the potential of blockchain expertise.

Meet Bitbond crew:

Bitbond team on a trip in Hamburg
Bitbond Group on a visit in Hamburg

Token Instrument Options Overview

Create, manage, and multisend tokens

Supported Blockchains

Choose from 4 main EVM chains: Ethereum, Polygon, Avalanche, BNB Chain.

Token Tool supports Ethereum, Polygon, Avalanche, and BNB Chain

Token requirements

ERC20 or ERC721 alongside their EVM equivalents.

Pockets administration

Token Tool compatible with leading wallet and custody solutions

Securely launch a token utilizing the pockets of your selection assist of Web3 Wallets goes from browser wallets akin to Metamask and WalletConnect, to enterprise custody options akin to Fireblocks, Qredo, and/or Gnosis Protected.


Distribute tokens to lots of of recipients in a single transaction with only a few clicks.

Token presale

Setup and handle token gross sales to obtain investments in crypto or stablecoins. Create STOs, ICOs, or IDOs, in only a few minutes. Take a look at our information for extra particulars on methods to simply create a token presale.

Token locker

Create token lockers on-chain to construct investor belief and handle lock-up intervals.


Effortlessly mint and burn tokens to handle provide and implement company actions.

DEX liquidity swimming pools

Create and handle liquidity swimming pools on your tokens on decentralized exchanges.

Compliance & Governance

Implement compliance by managing possession by way of whitelisting and blacklisting.

Token Instrument permits you with all required options

You may attempt Token Instrument free of charge on any of the supported testnets.

Create, manage, and multisend tokens


Tokenization brings vital benefits to capital markets, we imagine sooner or later, all the pieces can be tokenized, be taught extra about the advantages of tokenized securities.

Token Instrument is your go-to platform to simply create good contracts. In the event you’re unsure about using tokenization inside your group, be certain that to get in contact and take advantage of out of a free session with one in all our specialists.

Let’s get tokenizing!!!


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