Okay, so cryptocurrency this, bitcoin that!
Enough, there’s been so much hullabaloo in regards to the boom developed by the virtual currencies that internet has been overloaded with information on how you might earn more income by buying these currencies. But did you ever think how cool it would be if you might create your own personal cryptocurrency?
Never considered it, right? It’s time for you 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 yourself or not!
Step 1 – Community
No, there isn’t to construct a community as you do once you want to rule social media. The game is a little different here. You need to find a community of people that you believe would buy your currency.
When you identify a community, it becomes easier for you to cater with their needs and therefore you can work towards building a well balanced cryptocurrency rather than going haywire with what you would like to achieve.
Remember, you’re not here to become a part of the spectator sport – you’re inside it to win it. And, having a community of people who would want to purchase your currency is the better way to accomplish it!
Step 2 – Code
The next important step is to code. You never necessarily have to become a master coder to create your own personal cryptocurrency. There are lots of open source codes available out there which you can use.
You may even go ahead and hire professionals who are able to do the job for you. Nevertheless when coding, do remember something – blatant copying isn’t planning to lead you anywhere.
You need to bring some uniqueness in your currency to distinguish it from those who already exist. It has to be innovative enough to create ripples in the market. This is the reason just copying the code is inadequate to be on the top of cryptocurrency game.
Step 3 – Miners
The third, and the main step in the process is to get some miners aboard who will actually mine your cryptocurrency.
What this means is that you’ll require to truly have a certain set of people related to you who are able to actually spread the term about your currency in the market. You have to have people who are able to 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 foundation of a successfully voyage for the cryptocurrency in the ever growing competition.
Step 4 – Marketing
Very last thing you need to do within the task listed here is for connecting with merchants who could eventually trade the virtual coins that you’ve built.
In simpler words, you will need to promote these coins in the battleground where real people would actually be interested to purchase them. And, this by no means is an easy feat.
You need to win their confidence by letting them realize that you’ve something worthy to offer.
How can you start out with it? The simplest way to promote your coins initially is to identify the audience 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 creating a successful cryptocurrency is more about getting the awareness about market trends, and less about being truly a hardcore techie or an avant-garde coder.
If you have that awareness in you, then it is time to create a heyday while sunlight shines in the cryptocurrency niche. Proceed and plan building your own personal cryptocurrency by following these simple steps and observe how as it happens for you!