Blockchain and cryptocurrency is almost everything. We all
know how to make money by investing in cryptocurrency however if you ever had a
thought about how these cryptocurrencies are created or are it possible for you
to create one then, you are at the right place. Even If you are not an expert
in coding you can create your own virtual currency. Let us go step by step,
Community
The first and foremost step is to find a community and focus
on their requirement to get a direction for your coin. Once you have a trust or
base of a community it becomes easy for the coin to establish social space. If
the community would believe in you and your coin proposal is to their
expectation they would invest in your currency.
Code
Coding is the next step and the most crucial one. You need
an idea of C++ language to code your coin. The coding of the coin is based on
open source code of Bitcoin or Altcoin which is available on Github. There
should be originality in your coin with your unique ideas that could make a
stand in the market. This can take a day, a month or year and it totally
depends on you.
Mining of the currency
Once you have developed your coin you need miners to mine
the coin which will increase the popularity of your currency. You need a set of
dedicated people who can put words to your coin and establish recognition for
your coin. The miners should have the hardware you need and the back of your
coin to tolerate the risk.
Merchants and marketing
So, you have come along way with coding and establishing
your coin. You have a good team to back up the process, but you need your
audience. You need to do marketing to aware people about your coin, its value
and how these digital bits can be an asset to them. You need to find vendors
who can actually put their money to your coin. The advertisement is the key to
the place of your coin on the market. You need to assure and re-assure your
investors and traders that your coin is worth it.
The technical knowledge to create a cryptocurrency is not
that important leading it to be successful is. The actual effort is building
trust, infrastructure, maintenance, and stability. Not every coin launched in
the market is successful. In the end, you have to win trust and prove it.
