Okay, so cryptocurrency this, bitcoin that!
Enough, there has been so much hullabaloo concerning the boom created by the virtual currencies that internet has been overloaded with information on how you can earn more money by buying these currencies. But did you ever think how cool it could be if you can create your own personal cryptocurrency?
Never considered it, right? It’s time to think because in this post we are going to provide you a four-step guide on creating cryptocurrency your own personal cryptocurrency. Go through the post, and then see whether you can do it for yourself or not!
Step 1 – Community
No, there isn’t to construct a community as you do when you want to rule social media. The game is really a little different here. You’ll need to discover a community of men and women that you believe would purchase your currency.
Once you identify a community, it becomes easier for you yourself to cater for their needs and therefore you can work towards building a stable cryptocurrency rather than going haywire with what you want to achieve.
Remember, you’re not here to become a the main spectator sport – you’re in it to win it. And, having a community of men and women who’d want to invest in your currency is the best way to accomplish it!
Step 2 – Code
The 2nd important step is to code. You do not necessarily have to become a master coder to create your own personal cryptocurrency. There are many of open source codes available available which you can use.
You may also go ahead and hire professionals who will get the job done for you. Nevertheless when coding, do remember a very important factor – blatant copying is not going to lead you anywhere.
You’ll 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 the reason just copying the code is insufficient to be on top of the cryptocurrency game.
Step 3 – Miners
The next, and the most crucial step in the process is to get some miners on board who will in truth mine your cryptocurrency.
What this signifies is that you might want to have a certain set of men and women related to you who will actually spread the word about your currency in the market. You need to have people who will raise awareness about your currency.
This will provide you with a head start. And, reported by users – well begun is half done; miners can eventually lay the foundation of a successfully voyage for your cryptocurrency in the ever growing competition.
Step 4 – Marketing
Final thing you have to do as part of the task listed here is to connect with merchants who could eventually trade the virtual coins that you’ve built.
In simpler words, you need to promote these coins in the battleground where real people would actually be interested to invest in them. And, this by no means is an easy feat.
You’ll need to win their confidence by letting them know that you’ve something worthy to offer.
How could you start with it? The best way to promote your coins initially is to identify the target market who knows what cryptocurrency is.
All things considered, there’s no point in trying to promote your stuff to people who don’t even know what cryptocurrency is.
So, you can see 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 you have that awareness in you, then it’s time to create a heyday while sunlight shines in the cryptocurrency niche. Go ahead and plan building your own personal cryptocurrency by following these simple steps and observe how it turns out for you personally!