The cost of creating a BEP20 token on the Binance Smart Chain (BSC) depends on various factors, such as business type, token design, project complexity, and location of the development company. The cost can start from $500 and vary depending on the specific needs of the business. BEP20 tokens are popular due to their higher reach, efficiency, compatibility, proof of stake mechanism, and cost-effectiveness. They can be created using the Solidity programming language, but businesses may also consider outsourcing the task to a proficient token development company or hiring a developer.