Okay, so cryptocurrency is, bitcoin is!
Enough, there was so much fuss about the boom created by virtual currencies that the Internet was overloaded with information on how you could make more money by investing in those currencies. But have you ever thought how cool it would be if you could create your own cryptocurrency?
Never thought about it, right? It’s time to think, because in this publication we’re going to give you a four-step guide to creating your own cryptocurrency. Read the post and then see if you can do it for yourself or not!
Step 1 – Community
No, you don’t need to build a community like you do if you plan to manage social media. The game here is a little different. You need to find a community of people who you think will buy your currency.
Once you identify the community, you will find it easier to meet their needs, and so you can work on creating a stable cryptocurrency rather than accomplishing what you want to achieve.
Remember, you’re not here to be a part of the spectator sport – you’re in it to win. And having a community of people who would like to invest in your currency is the best way to do it!
Step 2 – Code
The second important step is the code. You don’t have to be a master cadre to create your own cryptocurrency. There are many open source sources that you can use.
You can even hire professionals who will do the job for you. But when encoding, remember one thing – outrageous copying will get you nowhere.
You need to add some uniqueness to your currency to distinguish it from those that already exist. It needs to be innovative enough to cause excitement in the market. This is the reason why simply copying the code is not enough to be on top of the cryptocurrency game.
Step 3 – Miner
The third and most important step in this process is to attract some Miners who will actually mine your cryptocurrency.
This means that you need to have a certain set of people associated with you who can really spread information about your currency in the market. You need to have people who can raise awareness about your currency.
This will give you a head start. And, as they say, well started – half done; Miners can ultimately lay the foundation for a successful journey for your cryptocurrency in an ever-increasing competition.
Step 4 – Marketing
The last thing you need to do as part of this job is to contact the traders who will eventually trade the virtual coins you have built.
Simply put, you have to sell these coins on the battlefield where real people would be interested in investing in them. And it is by no means an easy feat.
You need to win their trust by letting them know that you have something worthy to offer.
How can you start with that? The best way to initially sell your coins is to identify the target audience who knows what a cryptocurrency is.
After all, there’s no point in trying to sell your stuff to people who don’t even know what a cryptocurrency is.
Conclusion
So you can see that creating a successful cryptocurrency is more awareness of market trends, and less about being a hardcore technician or avant-garde coder.
If you have this awareness, then it’s time to flourish while the sun shines in the cryptocurrency niche. Go ahead and plan to create your own cryptocurrency by following these simple steps, and see what it turns out to be for you!