Okay, so cryptocurrency this, bitcoin that!
Enough, there’s been so much hullabaloo about the boom created by the virtual currencies that internet has been overloaded with information how you may earn more money by buying these currencies. But did you ever think how cool it will be if you may create your personal cryptocurrency?
Never considered it, right? It’s time for you to think because in this post we will provide you a four-step guide on creating cryptocurrency your personal cryptocurrency. Go through the post, and then see whether you can certainly do it yourself or not!
Step 1 – Community
No, you don’t have to create a residential area as if you do whenever you intend to rule social media. The game is really a little different here. You will need to discover a community of people that you think would purchase your currency.
As soon as you identify a residential area, it becomes easier for you to cater with their needs and therefore you are able to work towards building a stable cryptocurrency as opposed to going haywire with what you want to achieve.
Remember, you’re not here to be always a the main spectator sport – you’re in it to win it. And, having a residential area of people who’d want to purchase your currency is the best way to accomplish it!
Step 2 – Code
The second important step is always to code. That you don’t necessarily have to be always a master coder to produce your personal cryptocurrency. There are many of open source codes available out there which you may use.
You can also go ahead and hire professionals who will get the job done for you. Nevertheless when coding, do remember one thing – blatant copying is not going to lead you anywhere.
You will need to create some uniqueness in your currency to distinguish it from the ones that already exist. It needs to be innovative enough to produce ripples in the market. This is actually the reason just copying the code is insufficient to be on the top of cryptocurrency game.
Step 3 – Miners
The next, and the most important step in the process is to get some miners aboard who will actually mine your cryptocurrency.
What this implies is that you need to really have a certain set of people related to you who will actually spread the word about your currency in the market. You must have people who will raise awareness about your currency.
This provides you with a head start. And, as the saying goes – well begun is half done; miners can eventually lay the inspiration of a successfully voyage for your cryptocurrency in the ever growing competition.
Step 4 – Marketing
Very last thing you should do included in the task here is to get in touch with merchants who will eventually trade the virtual coins that you have built.
In simpler words, you need to promote these coins in the battleground where real people would actually be interested to purchase them. And, this certainly not is a straightforward feat.
You will need to win their confidence by letting them understand that you have something worthy to offer.
How will you start with it? The simplest way to promote your coins initially is to spot the target audience who knows what cryptocurrency is.
After all, there’s no point in trying to promote your stuff to people who don’t even know what cryptocurrency is.
So, you will see that developing a successful cryptocurrency is more about having the awareness about market trends, and less about being a hardcore techie or an avant-garde coder.
When you yourself have that awareness in you, then it’s time to produce a heyday while the sun shines in the cryptocurrency niche. Go ahead and plan building your personal cryptocurrency by following these simple steps and see how it turns out for you personally!