Okay, so cryptocurrency is, bitcoin is!
Enough, there was so much noise 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 wondered 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 post 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 run social networks. Here the game 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 going towards what you want to achieve.
Remember, you’re not here to be a part of the spectator sport – you’re in it to win it. 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 programming. It is not necessary to be a master coder to create your own cryptocurrency. There are many open source sources that you can use.
You can even hire professionals who will be able to do it for you. But when coding, remember one thing – brazen copying will not get you anywhere.
You need to add some uniqueness to your currency to distinguish it from one that already exists. It needs to be innovative enough to create ripples in the market. This is the reason that 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 take on board a few miners who will actually extract your cryptocurrency.
This means you need to have a certain number of people associated with you who can actually 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; Miner can eventually 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 the job is to contact the merchants who will eventually trade the virtual coins you have created.
Simply put, you need 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 gain their confidence by making it clear that you have something worthy.
How can you start with this? Initially, the best way to 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.
So you see that creating a successful cryptocurrency is more about being aware of market trends, and less about being a tough technician or avant-garde.
If you have that awareness, it’s time to make a time of prosperity while the sun shines in the cryptocurrency niche. Go ahead and plan to create your own cryptocurrency by following these simple steps and see how it works for you!