Okay, so cryptocurrency this, bitcoin that!
Enough, there has been so much hullabaloo about the boom produced 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 would be if you may create your own personal cryptocurrency?
Never seriously considered it, right? It’s time and energy to think because in this post we are likely to provide you a four-step guide on creating cryptocurrency your own personal cryptocurrency. Go through the post, and then see whether you certainly can do it yourself or not!
Step 1 – Community
No, you do not have to build a community as if you do when you plan to rule social media. The game is a little different here. You need to discover a community of individuals that you believe would purchase your currency.
As soon as you identify a community, it becomes easier for you yourself to cater for their needs and therefore you are able to work towards building a well balanced cryptocurrency as opposed to going haywire with what you want 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 individuals who would want to buy your currency is the better way to complete it!
Step 2 – Code
The second important step is to code. You don’t necessarily have to become a master coder to produce your own personal cryptocurrency. There are many of open source codes available available which you may use.
You may even go ahead and hire professionals who are able to get the job done for you. But when coding, do remember one thing – blatant copying is not planning to lead you anywhere.
You need to create some uniqueness in your currency to distinguish it from those who already exist. It must be innovative enough to produce ripples in the market. Here is the reason just copying the code is insufficient to be on the top of cryptocurrency game.
Step 3 – Miners
The next, and the most crucial step in the act is to have some miners on board who will in truth mine your cryptocurrency.
What this implies is that you need to have a certain set of individuals related to you who are able to actually spread the phrase about your currency in the market. You must have people who are able to raise awareness about your currency.
This will give you a mind start. And, as they say – well begun is half done; miners can eventually lay the building blocks of a successfully voyage for your cryptocurrency in the ever growing competition.
Step 4 – Marketing
Last thing you have to do as part of the job here’s to connect with merchants who could eventually trade the virtual coins that you have built.
In simpler words, you will need to market these coins in the battleground where real people would actually be interested to buy them. And, this certainly not is a straightforward feat.
You need to win their confidence by letting them realize that you have something worthy to offer.
How could you start with it? The best way to market your coins initially is to recognize the audience who knows what cryptocurrency is.
In the end, there’s no point in trying to market your stuff to people who don’t even know very well what cryptocurrency is.
So, you will see that building a successful cryptocurrency is more about having 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’s time to produce a heyday while the sun shines in the cryptocurrency niche. Go ahead and plan building your own personal cryptocurrency by following these simple steps and see how it turns out for you!