Okay, so cryptocurrency this, bitcoin that!
Enough, there has been so much hullabaloo about the boom created by the virtual currencies that internet has been overloaded with information how you may earn more income by purchasing these currencies. But did you ever think how cool it would be if you may create your personal cryptocurrency?
Never thought about it, right? It’s time to think because in this post we will provide you a four-step guide on creating cryptocurrency your personal cryptocurrency. Go through the post, and then see whether you certainly can do it for yourself or not!
Step 1 – Community
No, you do not have to build a community as you do whenever you plan to rule social media. The overall game is a little different here. You will need to locate a community of men and women that you think would buy your currency.
When you identify a community, it becomes easier for you really to cater for their needs and therefore you can 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 part of the spectator sport – you’re inside to win it. And, having a community of men and women who would want to purchase your currency is the better way to do it!
Step 2 – Code
The next important step is always to code. That you do not necessarily have to become a master coder to generate your personal cryptocurrency. There are plenty of open source codes available available which you can use.
You can even proceed and hire professionals who is able to get the job done for you. But when coding, do remember one thing – blatant copying isn’t likely to lead you anywhere.
You will need to create some uniqueness in your currency to distinguish it from those that already exist. It must be innovative enough to generate ripples in the market. This is the reason just copying the code is inadequate to be on top of the cryptocurrency game.
Step 3 – Miners
The 3rd, and the most crucial step in the act is to obtain some miners up to speed who will in actuality mine your cryptocurrency.
What this means is that you’ll require to truly have a certain set of men and women associated with you who is able to actually spread the term about your currency in the market. You need to have people who is able to raise awareness about your currency.
This provides you with a mind start. And, as the saying goes – well begun is half done; miners can eventually lay the inspiration of a successfully voyage for your cryptocurrency in the ever growing competition.
Step 4 – Marketing
Very last thing you need to do within the job here is to connect with merchants who will eventually trade the virtual coins that you have built.
In simpler words, you’ll need to market these coins in the battleground where real people would actually be interested to purchase them. And, this by no means is a simple feat.
You will 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.
After all, there is no point in trying to market your stuff to people who don’t even understand what cryptocurrency is.
So, you will see that creating 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.
When you have that awareness in you, then it is time to produce a heyday while the sun shines in the cryptocurrency niche. Proceed and plan building your personal cryptocurrency by following these simple steps and observe how it turns out for you!