Enough, there’s been so much hullabaloo about the boom developed by the virtual currencies that the web has been overloaded with information on how you could earn more money by investing in these currencies. But did you ever think how cool it will be if you could create your personal cryptocurrency?
Never considered it, right? It is time to think because in this post we are going to supply you a four-step guide on creating your own cryptocurrency. Read through the post, and then see whether that can be done it for yourself or not!
Step 1 – Community
No, you don’t need to build a community like you do when you plan to rule social media. The game is really a little different here. You should find a community of individuals that you think would buy your currency.
Once you identify a community, it becomes easier for you to cater to their needs and therefore you can work towards creating a stable cryptocurrency instead of going haywire with what you would like to achieve.
Remember, you aren’t here to be a the main spectator sport – you’re in it to win it. And, having a community of people who would desire to invest in your currency is the greatest way to do it!
Step 2 – Code
The second important step is to code. You don’t necessarily need to be a master coder to create your own cryptocurrency. There are several open source codes available out there which you can use.
You can even go ahead and hire professionals who can get the job done for you. But when coding, do remember a very important factor – blatant copying is not going to lead you anywhere.
You need to bring some uniqueness in your currency to distinguish it from those that already exist. It must be innovative enough to generate ripples in the market. This is the reason just copying the code isn’t enough to be on top of the cryptocurrency game.
Step 3 – Miners
The third, and the main step in the process is to get some miners on board who’ll actually mine your cryptocurrency.
What this means is that you must have a certain set of people associated with you who is able to actually spread the term about your currency available in the market. You need to have individuals who can raise awareness about your currency.
This will provide you with a head start. And, as they say – well begun is half done; miners can eventually lay the building blocks of a successfully voyage for the cryptocurrency in the ever growing competition.
Step 4 – Marketing
Last thing you need to do within the job here is to connect with merchants who’ll eventually trade the virtual coins you have built.
In simpler words, you should market these coins in the battleground where real people would actually be interested to invest in them. And, this in no way is an easy feat.
You must win their confidence by permitting them to know that you have something worthy to provide.
How can you start out with it? The easiest way to market your coins initially is to identify the mark audience who knows what cryptocurrency is.
After all, there is no point in trying to market your stuff to people who don’t even know what cryptocurrency is.
So, you can observe that building a successful cryptocurrency is more about getting the awareness about market trends, and less about being a hardcore techie or an avant-garde coder.
When Spice have that awareness in you, then it’s time to make a heyday as the sun shines in the cryptocurrency niche. Go ahead and plan building your personal cryptocurrency by following these easy steps and see how as it happens for you!