Cryptocurrency is a fundamentally new type of money that has firmly established itself in the life of a modern person. With the growing popularity of digital coins, you may wonder how to make your own crypto currency and make good money on it. In fact, everyone can create digital money. But how to do this? Today, you’ll find out!
How to Make Your Own Crypto Currency?
Making your own cryptocurrency coin is a complex process. After all, in order to realize your idea, you need to understand all operating principles of digital currency, as well as have programming skills. Additionally, it should be kept in mind that coins with a good reputation are constantly growing in value and bring income to both developers and investors.
How to make your own crypto currency? Well, to create your own cryptocurrency, you need to follow a specific algorithm. Here are the key 6 steps.
- A download of the source code;
- Installation of libraries and dependencies;
- Name change;
- Selection and configuration of network ports;
- Currency generation setup;
- Image replacements.
All questions regarding the security of financial transactions that users will make are of a special nature. Especially when it comes to creating your own digital currency. Make sure you created a private key that will serve as a reliable tool for financial transactions in a secure manner.
How to Make Your Own Crypto Currency Marketing Strategy?
Many developers believe that it’s enough to just create a digital currency, as it will immediately become popular. However, it’s not that simple. In practice, the development and release of cryptocurrencies is only half of the work done.
Therefore, in order for a coin to become popular, it’s necessary to study in detail the most popular currencies such as Bitcoin, Zcash, Ethereum. Every crypto creator should understand why they hold their lead, despite the negative reaction of many countries.
How to make your own crypto currency marketing strategy? Well, in order for a created crypto-coin to become popular, you need to perform a number of the following actions. Here are the key necessary steps.
- Prepare brief information about a project;
- Create a customer journey map;
- Describe a monetization model;
- Formulate key project goals;
- Make a list of competitors;
- Find out key unique benefits;
- Define a region for promotion;
- Learn about certification;
- Create a portrait of the target audience;
- Find a designer to prepare banners;
- Find a programmer to install a piece of software on a site.
These key points are enough to prepare a primary strategy for promoting a project and even calculate a preliminary media plan. The same information is required to prepare advertising campaigns and launch them.
All that will happen next is a set of experiments. Online advertising provides no guarantee. The agency’s goal is to select tools and traffic channels that will ultimately bring profit.
How Much Does It Cost to Make Your Own Crypto Currency?
How much does it cost to make your own crypto currency? Well, for an independent launch of a token using a modified program code of a well-known digital coin, for example, on the Ethereum blockchain, you will have to pay about 2 ETH (about $3,588 at the current exchange rate). The creation of a unique altcoin with specialized knowledge will cost 0.5-1 BTC.
It should be kept in mind that often various programs and services for creating cryptocurrencies take an additional fee for choosing a consensus algorithm, hashing and changing the complexity of mining, test network, as well as for premine and notifications of problems. There is a separate payment for creating a mining pool and faucets.
How to create your own digital currency? What other interesting facts do you know? Feel free to share your knowledge in the comments. Have a great weekend!