Enough, there’s been so much hullabaloo concerning the boom created by the virtual currencies that the internet has been overloaded with information on how you could enjoy better paychecks by buying these currencies. But did you ever think how cool it would be if you could create your own cryptocurrency?
Never considered it, right? It’s time to think because in this article we are going to provide you a four-step guide on creating your personal cryptocurrency. Read through the post, and see whether you can do it on your own or not!
Step 1 – Community
No, you don’t have to build a community as if you do when you intend to rule social media. The game is a little different here. You must find a community of individuals that you think would buy your currency.
Once you identify a community, it becomes easier for you yourself to cater to their needs and for that reason you can work towards building a stable cryptocurrency instead of going haywire with what you need to achieve.
Remember, you aren’t here to be a the main spectator sport – you’re inside it to win it. And, having a residential area of people who would desire to invest in your currency is the greatest way to do it!
Step 2 – Code
The second important step would be to code. You don’t necessarily need to be a master coder to generate your own cryptocurrency. There are numerous open source codes available out there which you can use.
You can even go on and hire professionals who can get the job done for you. But when coding, do remember one thing – blatant copying is not going to lead you anywhere.
It is advisable to bring some uniqueness in your currency to tell apart it from the ones that already exist. It must be innovative enough to generate ripples in the market. This is why just copying the code is not enough to be on top of the cryptocurrency game.
Step 3 – Miners
The third, and the most important step in the process would be to get some miners up to speed who will actually mine your cryptocurrency.
This implies that you must have a certain set of people associated with you who is able to actually spread the word about your currency available in the market. You need to have individuals who can raise awareness about your currency.
This will offer you a head start. And, as the saying goes – well begun is half done; miners can eventually lay the foundation of a successfully voyage for your cryptocurrency in the ever growing competition.
Step 4 – Marketing
Last thing you must do within the job here is for connecting with merchants who’ll eventually trade the virtual coins which you have built.
In simpler words, you should market these coins in the battleground where real people would actually be interested to purchase them. And, this by no means is an easy feat.
You need to win their confidence by letting them understand that you have something worthy to offer.
How can you start out with it? The easiest way to market your coins initially would be to identify the prospective audience who knows what cryptocurrency is.
After all, there is absolutely no point in attempting to market your stuff to individuals who don’t even understand what cryptocurrency is.
So, you can see that creating a successful cryptocurrency is more about having the awareness about market trends, and less about being truly a hardcore techie or an avant-garde coder.
For those who have that awareness in you, then it is time to make a heyday as the sun shines in the cryptocurrency niche. Go ahead and plan building your own cryptocurrency by following these simple steps and see how as it happens for you!