The 3.3-volt power supply is one of the main issues when we use ESP8266 - 01 as a standalone board. The board runs in 3.3 voltage. More than this voltage, it may damage your board. In this tutorial, I am going to show how to make a simple 3.3-volt regulator for your ESP8266 board. You can make this at a cost of 0.4$ (~20 rupees). There are also available some 3.3-volt power supplies for purchase but they cost more.

Parts required.

All parts I am shown here are purchased from a local store. 

1. LM317 regulator IC
2. 220 uf capacitor
3. 10 uf capacitor 
4. 390 ohms resistor
5. 240 ohms resistor
6. Small piece of perf board
7. Female header pins

ESP8266 3.3 volt regulator circuit diagram.

STEPS

1. Connect the female header pin
2. Connect the lm317 regulator ic
3. Connect the 220uf capacitor
4. Connect the 390 ohms resistors on the backside of the perf board
5. Connect the 240 ohms resistors on the backside of the perf board
6. Connect the 10uf capacitor
7. Finally, connect the esp8266

Then you can take out the connection from GPIO 0 and GPIO 2 as shown in the above circuit diagram.