How can I create my own Crypto Coin?
There are lots of ways to create your own crypto coins.
You can make one from scratch using blockchain technology .
OR
You can make one on an existing platform (Ethereum/Waves/etc…)
I do see a lot of people use WAVES these days to create a token, here is a rather useful link for that platform - wavesplatform.com
I also recommend google. there is a lot of info out there.
There is also much quicker and simpler solution.
Download the Waves Wallet
Click on the Token Creation tab
Give your token a name, how many you would like to create and if you want it to be re-issuable (re-issuable means you can create more in the future / not a fixed amount)
Hit Submit
Boom. You now have your own crypto coin which is immediately tradable on the in-built Waves Decentralized Exchange (DEX) or it can be listed on any other exchange.
Note: It takes 10 seconds to process the request and costs 1 Wave to create coin.
More importantly than "how" to create your own token is "why" you are creating a token.
Does your token solve a problem that the world, or a community of users has? What is the problem? How does it solve it?
Will your coin represent an asset backed by a product, service, or business? What is the asset? What is it worth? How much of it do you have?
Is your coin's purpose something that already exists? Why is your coin better than the already issued one?
If you can't answer these questions, you should invest in coins that already exist instead of issuing a coin of your own.
I agree with your point that there should be some purpose to create a new coin, no one just go and create a new coin without a purpose. That is also happening now a days that some illicit intent people are launching a new coins just like that due to the advantge of easy process to create a token . They are making some tweaks to industry standard tokens and posing them as brand new tokens and projecting in roadmap as there are lot of projects to come and new products/services yet to be launched. We cannot blame every one due to the majority of incidents happening in these days.
Also not necessary to have a big company is currently running or lots of projects should be decided/created before coin creation. This is upto the people wish and need. My whole intent was to share some info here that how some one can create a new coin and what are the easiest ways to do so. It is kind of knowledge go.
Good info.
Thank you for this post, I am interested in creating my own token as well however. I think it would be more helpful to have links to templates and some discussion around code pro's and con's.