Alright, therefore cryptocurrency that, bitcoin that!
Enough, there’s been so much hullabaloo concerning the boom created by the digital currencies which the internet was bombarded with advice regarding how you could earn more money by investing in those currencies. But did you ever think how cool it’d be if you can create your own Crypto?
It is time to consider because in this post we are going to provide you a four-step manual on making your own cryptocurrency. Read the post, then see whether you are able to do it for yourself or not!
Step 1 – Community
No, you don’t need to construct a community just like you do when you plan to rule social websites. The game is a little different here. You need to locate a community of people who you believe would purchase your currency.
Once you determine a community, it becomes easier for you to cater to their requirements and therefore you can work towards creating a stable cryptocurrency rather than going haywire with everything you wish to achieve.
Remember, you are not here to be part of the spectator game – you’re in it to win it. And, having a community of folks who’d want to invest in your money is the very best way to do it!
The second important step is to code. You do not necessarily have to be a master coder to produce your own cryptocurrency. There are loads of open source codes available out there which you may utilize.
You can go ahead and hire professionals that will do the task for you. However, once coding, do remember one thing – blatant copying is not going to lead you anywhere.
You have to draw some uniqueness on your currency to distinguish it from those that already exist. It needs to be revolutionary enough to make ripples on the market. This is the reason just replicating the code isn’t sufficient to be on top of the cryptocurrency game.
Step 3 – Miners
The third, and the most important step in the process is to receive a few miners on board who will actually mine your own cryptocurrency.
What this means is that you need to get a particular set of people associated with you who can really spread the word about your money in the industry. You need to have people who can raise awareness about your currency.
This gives you a head start. And, as they say – well begun is half done; miners can eventually lay the foundation of a successfully voyage on your cryptocurrency from the ever growing contest.
Last thing you have to do within the job here is to connect with retailers who will finally trade the digital coins that you have built.
In simpler words, you want to advertise these coins in the battleground where real people would actually want to purchase them. And, this by no means is an easy feat.
You have to win their confidence by letting them know that you have something worthy to provide.
How do you start with this? The very best way to market your coins initially would be to recognize the target audience that knows what cryptocurrency is.
After all, there’s absolutely no point in attempting to advertise your stuff to folks who don’t even know what cryptocurrency is.
Therefore, you can see that building a prosperous cryptocurrency is much more about having the awareness about marketplace trends, and much less about being a hardcore techie or a avant-garde coder.