Okay, so cryptocurrency this, bitcoin that!
Enough, there has been so much hullabaloo in regards to the boom developed by the virtual currencies that the internet has been overloaded with information on how you might earn more income by investing in these currencies. But did you ever think how cool it would be if you might create your own personal cryptocurrency?
Never thought about it, right? It’s time for you to think because in this post we are going to provide you a four-step guide on creating your own personal cryptocurrency crypto market making. Read the post, and then see whether you certainly can do it on your own or not!
Step 1 – Community
No, you don’t have to build a residential area like you do once you intend to rule social media. The overall game is just a little different here. You need to locate a community of individuals that you think would purchase your currency.
After you identify a residential area, it becomes easier for you really to cater with their needs and therefore you can work towards building a reliable cryptocurrency as opposed to going haywire with what you want to achieve.
Remember, you are not here to become a part of the spectator sport – you are inside it to win it. And, having a residential area of individuals who would want to invest in your currency is the greatest way to accomplish it!
Step 2 – Code
The second important step would be to code. You don’t necessarily need to be a master coder to generate your own personal cryptocurrency. There are many of open source codes available available which you can use.
You can even proceed and hire professionals who will get the job done for you. However when coding, do remember one thing – blatant copying isn’t planning to lead you anywhere.
You need to bring some uniqueness in your currency to distinguish it from those who already exist. It has to be innovative enough to generate ripples in the market. This is actually the reason just copying the code is inadequate to be on top of the cryptocurrency game.
Step 3 – Miners
The next, and the most important step in the process is to have some miners up to speed who will in actuality mine your cryptocurrency.
What this implies is that you need to have a certain set of individuals associated with you who will actually spread the term about your currency in the market. You need to 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 inspiration of a successfully voyage for your cryptocurrency in the ever growing competition.
Step 4 – Marketing
Last thing you should do included in the work here is to connect with merchants who will eventually trade the virtual coins that you’ve built.
In simpler words, you’ll need to market these coins in the battleground where real people would actually be interested to invest in them. And, this in no way is a straightforward feat.
You need to win their confidence by letting them know that you’ve something worthy to offer.
How can you start with it? The simplest way to market your coins initially is to identify the target market who knows what cryptocurrency is.
In the end, there’s no point in trying to market your stuff to people who don’t even understand 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 fully a hardcore techie or an avant-garde coder.