Why Create Your Own Cryptocurrency? | DS MEDIA

Why Create Your Own Cryptocurrency?

  admin   Dec 31, 2017   Cryptocurrency   0 Comment

Cryptocurrency is the new way to make money. Here are important steps to create your own cryptocurrency like Bitcoin/Litecoin or hire us for instant result.

The term “cryptocurrency” was first heard by many people when Bitcoin was first introduced in 2009. Today, it is one of the top digital currencies in the world. Cryptocurrency commonly refers to digital currency or asset that was created to secure the medium of transactions of money.

When we first heard about cryptocurrency, most of us ignored it as a temporary thing that will probably fade away in a few years or so, but now we understand that cryptocurrencies are here to stay.

List Of Famous Cryptocurrencies:

  1. Litecoin (LTC)
  2. Ethereum (ETH)
  3. Zcash (ZEC)
  4. Bitcoin (BTC)
  5. Ripple (XRP)
  6. AladdinCoin (ALC)

The Cryptocurrency
Cryptocurrency in the ethereum ecosystem can represent any fungible tradable good: coins, loyalty points, gold certificates, IOUs, in game items, etc. Since all Cryptocurrency implement some basic features in a standard way, this also means that your Cryptocurrency will be instantly compatible with the ethereum wallet and any other client or contract that uses the same standards.

Find A Community For Your Cryptocurrency
Before you even start creating your cryptocurrency, the first step should be to find a community that is interested in the type of Cryptocurrency you want to create.

Engage in the community to find out what type of Cryptocurrency people actually want and how can you give it to them. It has to be relevant to their requirements. Once you build a community around your idea, it is time to start to code.

Code To Last Long
Coding your own cryptocurrency is not going to be a very difficult or time-consuming process as the code of Bitcoin/Litecoin is already available for free on GitHub. The time to make your own currency will depend on how much change you wish to implement in your code.

For instance, it is advisable to build a future-oriented cryptocurrency. Do proper market research to figure out what will be in demand in the coming days or years, and build your digital currency around that.

For the coding part, you may need to brush up your C++ skills as it may take some advanced knowledge of the language to build your own customized features.

Build A Merchant Base
The next thing you need to acquire is a team of merchants who are actually interested in buying and selling your currency for actual things.

Building a marketplace is also important so that your customers have a place to spend the cryptocurrency. Building a merchant base is more or less similar to building a customer base. It’s all about building confidence and trust in your product.

Customer Trust
If you are confident in your products and your motives about it, you are ready to market your coin to friends, businessmen, on forums, and on social sites.

Make sure you target an exact potential group of merchants, rather than wasting your time on many people. Explore the popular cryptocurrency markets on the internet.

Target Local Than Global
Instead of trying to cover a global market through your cryptocurrency, you should instead focus on your local market, at least for the first few years. No matter what experts say, it is not likely that a single currency will ever dominate the world market.

So, it’s better to target a limited market where you actually have a chance of making big. Just make sure that your local currency is usable in the global market as well, in case it ever makes that big.

It is also much easier to build a good market in your local area, as people know you and can trust you more easily.

So, this is how you make and market a cryptocurrency to begin in the skyrocketing market for the digital coins. Feel free to share the tips with more of your friends and colleagues who are looking to make big in this industry.

Our Cryptocurrency Development Services
We offers best cryptocurrency development services.

  1. ERC20 Token Creation
  2. Exchange Development
  3. Development of Dapps

Please Whatsapp at +6587428153 to discuss further.


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