Okay, so this cryptocurrency, that bitcoin!
Suffice it to say, there has been so much hype surrounding the virtual currency boom, where the internet has become overloaded with how you can make more money by investing in those currencies. But have you ever wondered how nice it would be if you could create your own cryptocurrency?
I never thought about it, did I? 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 yourself!
Step 1 – Community
No, you don’t have to build a community like you intend to govern social media. The game is a little different here. You need to find a community of people who would buy your currency.
Once you identify a community, it will be easier for you to meet their needs, so you can work to build a stable cryptocurrency instead of failing with what you want to achieve.
Remember, you are not here to be part of the spectator sport, you are in it to win. And, having a community of people who want to invest in your currency is the best way to do that!
Step 2 – Code
The second important step is to code. You don’t have to be a master coder to create your own cryptocurrency. There are many open source codes available for you to use.
You can even hire professionals who can go ahead and do the job. But when it comes to coding, remember one thing: Significant copying won’t get you anywhere.
You need to bring a special feature to your currency to distinguish it from your existing ones. It needs to be innovative enough to create waves in the market. This means that copying code is not enough to be on top of the cryptocurrency game.
Step 3 – Miners
The third, and most important step in the process is to include some miners who will actually hurt your cryptocurrency.
This means that you need to have a certain set of people related to you who can really expand your currency market. You just have to be more discriminating with the help you render toward other people.
This will get you started. And, as they say, it’s a good start, half-done; miners can finally lay the groundwork for a successful journey for your cryptocurrency in ever-increasing competition.
Step 4 – Marketing
The last thing you need to do here as part of your job is to connect with the merchants who will eventually exchange the virtual coins you have built.
In simpler terms, you need to market these coins on the battlefield, where real people would be interested in investing. And, this is by no means an easy feat.
You need to earn their trust by letting them know that you have something to offer.
How do you get started with this? The best way to market your coins in the beginning is to identify a target audience that knows what a cryptocurrency is.
After all, it is useless to try to market your stuff to people who don’t even know what a cryptocurrency is.
So you can see that building a successful cryptocurrency is more about being aware of market trends, and less about being a hardcore techie or avant-garde coder.
If you have that awareness in you, then it’s time to make it to the top while the sun shines in the cryptocurrency niche. Go ahead and plan on building your cryptocurrency by following these easy steps and see how it works for you!