Topic: How to create your own cryptocurrency? - page 2. (Read 319 times)

I was reading an article about how to create our own cryptocurrency. I felt this article would help many crypto enthusiasts who are looking to create their own crptocurrency.

We usually buy cryptocurrencies on any crypto exchange and hold it in our wallet or exchange wallet. We never thought of creating our own cryptocurrency. How this will benefit us?


Let's see how we can create our own cryptocurrency -

Step 1: Create your own cryptocurrency

To create your own crypto, you would either have to build your own blockchain or use a cryptocurrency creation platform. If you own customized blockchain then you will have control over your cryptocurrency. There are many ‘create your own cryptocurrency’ courses available but it costs you a lot.

Also, you can use modern method of making cryptocurrencies where a cryptocurrency creation platform do the technical part for you. This is the fast method but involve initial costs.

Apart from these, the best and the free method of creating your own cryptocurrency is to use existing open-source code from any existing platform and changing it as per your preferences. This is the best method if you don’t have a lot of money. This requires very simple coding which you can easily learn by watching a good tutorial on YouTube.

Step 2: How to make money with your coins and how to secure them?

These steps are often difficult than the creation part and most people fail in this market because they don’t follow them.
An altcoin doesn’t start making money right away.In order to ensure this for your coin, you have to be active within a local crypto community. In fact, you should do this even before you actually make your coin. The secret to a successful altcoin is that it actually meets the needs of its local community.

Step 3: Coin performance

Your cryptocurrency, no matter how well it is coded, is basically useless until people are willing to verify the transactions made with it. For this, you’d have to look for miners on the network. Make sure you build up a good relationship with the miners you connect with so that you gain their trust. Properly communicate the idea behind your coin and also the purpose of the same.

Step 4: Ensure safety and reliability of a coin

For that, you’d have to have a basic understanding of the ways of the hackers. You must do a substantial amount of research on these topics and ensure that your cryptocurrency has as a fewer loopholes.


**Some of the benefits of having your own cryptocurrency are it's lower operational cost, transaction anonymity, elimination of fraud risk and accessibility to a whole new customer base.


Source: Read here for more details - How to Create your own cryptocurrency in 15 minutes?