Okay, so cryptocurrency this, bitcoin that!
Enough, there’s been so much hullabaloo about the boom created by the virtual currencies that internet has been overloaded with information how you can earn additional money by purchasing these currencies. But did you ever think how cool it could be if you can create your personal cryptocurrency?
Never seriously 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 personal cryptocurrency. Read through the post, and then see whether you can do it for yourself or not!
Step 1 – Community
No, you don’t have to construct a residential area like you do when you want to rule social media. The overall game is a little different here. You will need to locate a community of people that you believe would buy your currency.
After you identify a residential area, it becomes easier for you really to cater to their needs and therefore you can work towards building a well balanced cryptocurrency as opposed to going haywire with what you need to achieve.
Remember, you are not here to be a area of the spectator sport – you are inside it to win it. And, having a residential area of people who’d want to buy your currency is the greatest way to accomplish it!
Step 2 – Code
The second important step is to code. That you do not necessarily have to be a master coder to generate your personal cryptocurrency. There are many of open source codes available on the market which you can use.
You can also proceed and hire professionals who is able to get the job done for you. Nevertheless when coding, do remember one thing – blatant copying is not likely to lead you anywhere.
You will need to bring some uniqueness in your currency to tell apart it from the ones that already exist. It needs to be innovative enough to generate ripples in the market. This is the reason just copying the code is inadequate to be on the surface of the cryptocurrency game.
Step 3 – Miners
The 3rd, and the most crucial step along the way is to get some miners up to speed who will in actuality mine your cryptocurrency.
What this means is that you’ll require to really have a certain set of people associated with you who is able to actually spread the term about your currency in the market. You have to have people who is able to raise awareness about your currency.
This will give you a head start. And, as they say – well begun is half done; miners can eventually lay the inspiration of a successfully voyage for the cryptocurrency in the ever growing competition.
Step 4 – Marketing
Very last thing you have to do included in the task here’s to get in touch with merchants who will eventually trade the virtual coins that you’ve built.
In simpler words, you will need to advertise these coins in the battleground where real people would actually be interested to buy them. And, this in no way is a simple feat.
You will need to win their confidence by letting them realize that you’ve something worthy to offer.
How will you start with it? The best way to advertise your coins initially is to recognize the audience who knows what cryptocurrency is.
In the end, there is no point in trying to advertise your stuff to people who don’t even understand what cryptocurrency is.
So, you can see that building a successful cryptocurrency is more about having the awareness about market trends, and less about being a hardcore techie or an avant-garde coder.
When you yourself have that awareness in you, then it is time to create a heyday while the sun shines in the cryptocurrency niche. Go ahead and plan building your personal cryptocurrency by following these simple steps and see how it turns out for you!