The cryptocurrency industry is praised for its decentralized nature, in which anyone can enjoy the opportunity to create the cryptocurrency of their dreams. Central banks no longer have a monopoly on money supply (of course, as long as you consider cryptocurrencies real-world money). New cryptocurrencies are created daily: to reshape the financial system, to make international payments faster and safer or simply to earn a fortune with the craze of cryptocurrencies.

Do you want to join the crowd of cryptocurrency enthusiasts? Read the full article to learn how to create your own personal cryptocurrency.

First steps

To launch a cryptocurrency, you will, of course, have to pay enough attention to the code, but this is not the only difficulty you will have to face. What kind of people would want to use your crypto in particular and for what reason? This is the first question you have to answer. In order for your crypto project to succeed, you must find a community of people interested in what you have to offer. It does not need to be a large group of enthusiasts, but the more people you manage to add to your proposal, the more likely you are to succeed.

It is also smart to adjust your project to the needs and requirements of people, and not the other way around. Creating trust is something you want to focus on in the early stages of the project.

Creating the code

Despite being a task that requires technical knowledge, programming your cryptocurrency is not really the process that will take you the longest. Lost altcoins are based on open source litecoin and Bitcoin, which is easily accessible from GitHub You will need some knowledge of C++. Some experience at the time of programming would not hurt either. Of course, the more features you want to introduce, the more time and effort you will need.

The project should be oriented in the long term to be successful. The cryptocurrency market is currently overcrowded, with more than 1300 cryptocurrencies listed only in CoinMarketCap. Giving the project a striking name and promoting it aggressively is not going to be enough. The community has to be sure: you have arrived to stay. That is why you must persuade people to use your crypto, something that can be easily achieved by developing an innovative product that solves problems.

Attracting the miners

The miners support the cryptocurrency infrastructure by providing their computing power to the system, thus making it possible to create new blocks in the blockchain. It is your support that determines the degree of success of your projects. In the event that the mining community appreciates the idea behind your currency (a team of developers with extensive experience in the field can also be a plus), they will begin to undermine it. Therefore, what interests you most is to persuade as many people as possible to join the mining fever.

This is the point at which you have to stop being a low-profile developer and demonstrate your marketing skills. To be able to continue with your currency, the miners must have a certain degree of confidence in you and expect long-term profits. Encouraging your activity by sharing your plans and the initiatives that will eventually raise the price of your token is something you will need to do.

Winning traders

Something that often escapes us, but that is equally important: the initial purpose of the main cryptocurrencies was to make transactions between different parts simpler, faster and safer. That's why you, as a developer, must persuade enough people to stay true to your currency in return to really succeed.

During this stage, you need to promote your platform to the masses, not just to a pre-selected group of professionals. Your attitude and way of acting - your ability to inspire, if you prefer - will be just as important as the technical data and possibilities of the underlying product.

And remember that people are not only there to support your project because of your good intentions, but they want to receive financial benefits, something that is real both for online sellers and for small neighborhood establishments. By cooperating with businesses, what you want to do is improve your sales, or at least persuade them that your project is capable of doing so.

Aim Higher

Think global, act locally. This well-known management motto also applies to your project. Although it is not always possible to stand out in the overcrowded cryptocurrency market, you should try to think of going a step further.

Why would the general public want to invest in your project? What will it be like in five years? How will you face future problems? These are questions that you will need to answer when you want to expand globally. Keep in mind that having a revolutionary project, besides being able to implement it, is not enough to enter the top 10 list. You may also need some luck.

Do not despair or be angry if your cryptocurrency does not reach the global scale. Providing service to a small community of loyal enthusiasts has as much honor as creating a cryptocurrency that outperforms all others.