Okay, so cryptocurrency this, bitcoin that!
Enough, there’s been so much hullabaloo concerning the boom created by the virtual currencies that the net has been overloaded with information how you may earn more income by purchasing these currencies. But did you ever think how cool it will be if you may create your own personal cryptocurrency?
Never considered it, right? It’s time to think because in this post we are going to provide you a four-step guide on creating your own personal cryptocurrency crypto launchpad. Read through the post, and then see whether you are able to do it for yourself or not!
Step 1 – Community
No, you don’t have to build a community as you do once you intend to rule social media. The game is a little different here. You need to locate a community of men and women that you believe would buy your currency.
When you identify a community, it becomes easier for you yourself to cater with 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’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’d want to purchase your currency is the greatest way to do it!
Step 2 – Code
The next important step would be to code. You don’t necessarily need to be a master coder to create your own personal cryptocurrency. There are many of open source codes available on the market which you may use.
You may even go ahead and hire professionals who will do the job for you. But when coding, do remember one thing – blatant copying isn’t planning to lead you anywhere.
You need to create some uniqueness in your currency to distinguish it from those that already exist. It needs to be innovative enough to create ripples in the market. This is the reason just copying the code is insufficient to be on the top of cryptocurrency game.
Step 3 – Miners
The 3rd, and the main step in the process is to get some miners on board who will actually mine your cryptocurrency.
What this signifies is that you’ll require to have a certain set of men and women associated with you who will actually spread the term about your currency in the market. You must have people who will raise awareness about your currency.
This provides you with a mind start. And, reported by users – 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
Final thing you have to do within the task here is to connect with merchants who could eventually trade the virtual coins that you have built.
In simpler words, you’ll need to promote these coins in the battleground where real people would actually be interested to purchase 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 could you begin with it? The easiest way to promote your coins initially is to spot the audience who knows what cryptocurrency is.
After all, there’s no point in trying to promote your stuff to those who don’t even know very well what cryptocurrency is.
So, you can see that developing a successful cryptocurrency is more about getting the awareness about market trends, and less about being a hardcore techie or an avant-garde coder.