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 more cash by buying these currencies. But did you ever think how cool it would be if you can create your own personal cryptocurrency?
Never thought about it, right? It’s time for you to think because in this post we will 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 create a community as if you do whenever you intend to rule social media. The overall game is just a little different here. You need to locate a community of people that you think would purchase your currency.
Once you identify a community, it becomes easier for you to cater to their needs and therefore you are able to work towards building a reliable cryptocurrency as opposed to going haywire with what you need to achieve.
Remember, you’re not here to become a area of the spectator sport – you’re inside it to win it. And, having a community of people who would want to buy your currency is the best way to accomplish it!
Step 2 – Code
The 2nd important step is to code. That you don’t necessarily have to become a master coder to generate your own personal cryptocurrency. There are many of open source codes available on the market which you may use.
You may also go ahead and hire professionals who is able to get the job done for you. Nevertheless when coding, do remember a very important factor – blatant copying isn’t likely to lead you anywhere.
You need to create some uniqueness in your currency to distinguish it from those who already exist. It needs to be innovative enough to generate ripples in the market. Here 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 important step in the process is to have some miners on board who will in truth mine your cryptocurrency.
What this means is that you’ll require to really have a certain set of people related to you who is able to actually spread the term about your currency in the market. You must have people who is able to raise awareness about your currency.
This will provide you with a head start. And, as they say – well begun is half done; miners can eventually lay the building blocks of a successfully voyage for the cryptocurrency in the ever growing competition.
Step 4 – Marketing
Final thing you should do as part of the task here is to connect with merchants who could eventually trade the virtual coins that you have 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 straightforward feat.
You need to win their confidence by letting them know that you have something worthy to offer.
How can you begin with it? The easiest way to advertise your coins initially is to spot the target market who knows what cryptocurrency is.
After all, there’s no point in trying to advertise your stuff to those who don’t even know what cryptocurrency is.
So, you will see that building a successful cryptocurrency is more about obtaining the awareness about market trends, and less about being fully a hardcore techie or an avant-garde coder.
When you have that awareness in you, then it’s time to produce a heyday while the sun shines in the cryptocurrency niche. Proceed and plan building your own personal cryptocurrency by following these simple steps and see how as it happens for you personally!