Table of Contents
Token Tool by Bitbond and Cointool.app are Web3 dApps where users can create tokens (aka smart contracts) without coding.
It is not clear who is the developer of Cointool and the team behind this project. Is CT.app (previously cointool.app) legit? With only limited information about the entity in charge, it is difficult to assess and confirm suspicions on coin tool legitimacy.
In this article we will introduce a brief overview of ct.app, and present Token Tool by Bitbond as an alternative.
Is CT.app (ex Cointool.app) legit?
Little, to no information about the entity
It is unknown who are the drivers behind the Cointool project. No official business registry, nor general information about the entity are available on their website. The only information we have is that it seems to be based in China, but no official business registry is provided.
Inconvenient for organizations
Organizations looking to utilize tokenization are subject to strict regulatory requirements. They require a lot of features such as KYC, whitelisting investors, token lock-ups and many more. Cointool does not seem to provide compatibility with solutions such as key management software, or custody providers. Bitbond’s Token Tool on the other hand, has been developed more specifically to cater to such requirements or be integrated with high-end third party providers specializing in bank-grade IT security.
Taking the above into consideration, this seems to be a risky platform to use if you’re a financial institution or organization looking to leverage blockchain tokenization within your entity. With little to no trust provided by the developers of Cointool, this would expose entrepreneurs and executives at great risks when it comes to creating tokens and then selling them to investors via token offerings.
Expensive and non transparent service
It seems that cointool charges on average 0.5 BNB for any interaction happening with their Dapp (fyi, Token Tool charges as little as 10EUR for creating a token).
When looking through user reviews of Coin tool, many of the users seem to be unsatisfied with the expensive and non-transparent service of this Dapp. There also seems to be huge concern towards cointool.app, as many express it being a potential scam:

Some of the claims that users made about if Cointool is legit, are that cointool.app has a hidden wallet address within their smart contract code that “steals” some of the fees associated with the tokens created by users.
Here is a video by a developer breaking down the claim about stealing user funds. In his video he shows how a portion of the tokens’ marketing and buy back fees are sent to a hidden wallet implemented in the smart contract by the owners of Cointool.
This raises significant doubts about the legitimacy of coin tool.
Absence of Customer Support
Many users complain about inexistence of a support team to assist with some of the issues faced by people utilizing Cointool services. This can be another indicator to investigate cointool legitimacy.
As a business, your main source of revenue is from your clients, therefore ensuring a smooth customer experience across your product’s value chain is indispensable. This is achieved by making the necessary channels for receiving and handling customer feedback available.
Additionally they seem to charge extra for receiving premium support:

Everyone knows that happy customers means happy business, leading to more growth and wider audience utilizing your services. Why would an entity not have customer service channels to assist clients with whatever issues they might encounter? Doesn’t it emphasize the concern over the legitimacy of your business?
This is definitely another red flag, and does not help the doubts regarding if cointool legit is or not.
Cointool features
Cointool has undoubtedly a lot of features. It enables users to perform a variety of functions on the most popular protocols out there without requiring any coding.
Why use Token Tool by Bitbond instead?
Token Tool has high compliance standards
Token Tool is a Web3 powered application, enabling users to easily create smart contracts, with a much better user experience and a special focus for financial institutions looking into utilizing tokenization to bring efficiencies to their processes.
Other than it being accessible by anyone, by leveraging Bitbond’s top level expertise, we developed Token Tool in a manner that allows organizations that are subject to strict regulatory requirements, to benefit from the potential of blockchain tokenization while maintaining highest security & safety standards.
It covers several options to configure utility and security tokens in a granular way using parameters such as whitelisting investors and adding an asset documentation reference. This allows issuers to maintain compliance when required, allowing organizations who are subject to regulatory requirements in leveraging the advantages of tokenization.
It is compatible with the most sophisticated custody solutions available on the market such as Metamask / Metamask Institutional, Fireblocks, Qredo and Gnosis Safe.
Token Tool can be integrated with other products for an all-in-one solution
Token Tool is part of Bitbond’s Asset Tokenization Suite. It is a set of software components with which you can onboard investors, conduct token offerings and create and manage tokens. The Suite consists of three components:
- Offering Manager: API enabling the management of investors and orders
- Token Tool: Web3 application enabling the seamless creation, management and distribution of tokens and token offerings.
- Investor UI: A white-labeled frontend application which you can use with your own branding. Its primary purpose is investor on-boarding and order submission for a token offering as well as an integrated investor wallet functionality.
Token Tool is developed by a highly knowledgeable dedicated team
Other than providing customer support for users needing guidance or having issues when utilizing their platform, Token Tool is being developed by industry experts that have a proven track record in FinTech and Blockchain. As the platform is primarily being utilized by financial institutions and other prestigious organizations, its robustness is even more important. Hence, the team ensures to always deliver above and beyond results, in order to make tokenization widely accessible, therefore, contributing to further adoption.
Bitbond team is here to assist you on the journey towards the tokenization of everything. As true believers, it is in our best interest to inform you about this technology so you can use it in the safest way possible, therefore, capitalizing on the potential of blockchain technology.
Token Tool Features Overview
Supported Blockchains
Token Tool supports over 15 EVM-compatible blockchains, including leading mainnets and testnets such as:
- Ethereum
- Polygon PoS and Polygon zkEVM
- Avalanche
- BNB Chain
- Base
- Fantom
- Arbitrum
- Optimism
- peaq
- Meld
- Blast
- Stellar Soroban
Token Standards
- ERC20, ERC1400, and ERC721 tokens on Ethereum and other EVM chains.
- Equivalent standards like ARC20 (Avalanche), BEP20 (BNB Chain), MRC20 (Meld), and PEAQ tokens on peaq.
Wallet Management
- Supports a range of wallets, from browser-based wallets like MetaMask and WalletConnect to enterprise-grade custody solutions like Fireblocks, Ledger Enterprise and Gnosis Safe.

Multisend
Distribute tokens to hundreds of addresses in one transaction with the Multisender feature, perfect for airdrop events and token distribution with just a few clicks.
Token Presale
Configure and manage token sales, raising capital in crypto or stablecoins. Set up STOs, ICOs, or IDOs within minutes, defining customizable caps and offering full whitelisting for regulated sales.
Token Locker
Create on-chain lockers for investor transparency, locking tokens securely to build trust and manage lock-up periods effectively.
Vesting Collection
Vesting collections allow you to create and manage token vesting schedules for team members, investors, or other stakeholders. You can set up parameters like cliff periods, vesting start/end dates, and allocate tokens to multiple recipients simultaneously. Vesting schedules ensure tokens are released according to predefined conditions, providing security and trust for long-term token holders.
DvP Settlement Collection
The Delivery versus Payment (DvP) feature enables simultaneous, risk-free exchange of tokens and payments in a single transaction. It ensures that neither the token nor the payment is released unless both parties meet the conditions, minimizing counterparty risk. This feature is crucial for secure asset exchanges, automated through smart contracts on EVM-compatible chains.
Payment Stream Collection
Automated Payment Streams allow for the setup of continuous, scheduled payments of tokens or cryptocurrencies. Ideal for salaries, interest payouts, or subscription services, this feature ensures timely distribution of payments to multiple recipients over time. Users can create, manage, and modify recurring payment streams, and monitor progress directly from the Token Tool dashboard.
Mint/Burn
Effortlessly mint and burn tokens as needed to manage token supply and enforce corporate actions, such as managing deflationary mechanics or expanding token supply with minting.
DEX Liquidity Pools
Easily create and manage liquidity pools on decentralized exchanges like Uniswap, PancakeSwap, Trader Joe, and others to provide liquidity for your tokens.
Compliance & Governance
Manage whitelisting/blacklisting of wallet addresses, ensuring full compliance with regulatory requirements. Perfect for issuing security tokens or maintaining governance over token ownership.
Faucets
Use faucets on supported testnets such as Ethereum Sepolia, Polygon Mumbai, Avalanche Fuji, and more. Token Tool offers an intuitive way to claim free testnet tokens for testing your smart contracts before mainnet deployment.
Token Tool Features
- Create ERC20, ARC20, BEP20, MRC20, PEAQ tokens and more.
- Create and manage liquidity pools on leading decentralized exchanges.
- Multisend tokens or airdrop tokens to hundreds of recipients efficiently.
- Token Sale Creation and Management for ICOs, STOs, and IDOs.
- Token Lockers for secure investor management.
- Token Vesting collections, DvP settlement, and Payment Stream collections for advanced financial management.
- Create and manage NFTs with collection and single-asset minting.
- Gas tracking for real-time gas prices across Ethereum, Polygon, Avalanche, BNB Chain, and more.
- Crypto faucets for claiming Testnet coins.

Testnet Availability
You can try Token Tool for free on supported testnets before launching your project on a mainnet. This ensures a safe and cost-effective way to test all features, from token creation to vesting, presales, and liquidity pool management.
Summary
Tokenization brings significant advantages to capital markets, we believe in the future, everything will be tokenized, learn more about the benefits of tokenized securities.
Token Tool is your go-to platform to easily create smart contracts. If you’re not sure about utilizing tokenization within your organization, make sure to get in touch and make the most out of a free consultation with one of our experts.
Let’s get tokenizing!!!