Okay, so cryptocurrency this, bitcoin that!
Enough, there’s been so much hullabaloo concerning the boom developed by the virtual currencies that internet has been overloaded with information on how you might earn more income by purchasing these currencies. But did you ever think how cool it will be if you might create your own cryptocurrency?
Never thought about it, right? It’s time for you to think because in this post we are going to provide you a four-step guide on creating your own cryptocurrency. Go through the post, and then see whether you are able to 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 overall game is really a bitmain e9 little different here. You need to discover a community of men and women that you think would buy your currency.
After you identify a community, it becomes easier for you yourself to cater to their needs and therefore you are able to work towards building a well balanced cryptocurrency rather than going haywire with what you need to achieve.
Remember, you’re not here to be always a area of the spectator sport – you’re inside it to win it. And, having a community of men and women who would want to buy your currency is the better way to complete it!
Step 2 – Code
The next important step would be to code. You don’t necessarily need to be a master coder to create your own cryptocurrency. There are lots of open source codes available on the market which you can use.
You may also proceed and hire professionals who will perform the job for you. But when coding, do remember a very important factor – blatant copying is not planning to lead you anywhere.
You need to create some uniqueness in your currency to distinguish it from those who already exist. It needs to be innovative enough to create ripples in the market. This is actually the reason just copying the code is inadequate to be on the top of cryptocurrency game.
Step 3 – Miners
The next, and the most important step in the process is to have some miners on board who will in truth mine your cryptocurrency.
What this signifies is that you’ll require to truly have a certain set of men and women connected with you who will actually spread the term about your currency in the market. You need to have people who will raise awareness about your currency.
This will give you a mind start. And, as the saying goes – well begun is half done; miners can eventually lay the foundation of a successfully voyage for the cryptocurrency in the ever growing competition.
Step 4 – Marketing
Final thing you have to do within the work here’s for connecting with merchants who will ultimately trade the virtual coins that you have built.
In simpler words, you’ll need to market these coins in the battleground where real people would actually be interested to buy them. And, this by no means is an easy feat.
You need to win their confidence by letting them realize that you have something worthy to offer.
How will you start with it? The simplest way to market your coins initially is to spot the target market who knows what cryptocurrency is.
In the end, there’s no point in trying to market your stuff to individuals who don’t even know what cryptocurrency is.
So, you will see that building a successful cryptocurrency is more about getting the awareness about market trends, and less about being truly a hardcore techie or an avant-garde coder.
When you have that awareness in you, then it is time to make a heyday while the sun shines in the cryptocurrency niche. Go ahead and plan building your own cryptocurrency by following these simple steps and observe how it turns out for you personally!