How to create your own cryptocurrency?

[Henri Cartier]

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?

[FireBallex]

I just really hope that creating cryptocurrency is not opened to everybody,this is really affecting crypto and this is why we have too many shitcoins,the more easier it gets to create own coins the more scam and shit coins will continue plaguing crypto..

Building coins and tokens should have been for only those who are qualified not for everyone

[DdmrDdmr]

Creating a Token is not that hard, and there are plenty of threads here that show you how to do it for a few dollars, such as this one (on the ETH network): BEGINNER FRIENDLY GUIDE] Launch your own TOKEN in a few simple steps!. Being so accessible in terms of effort and cost is one of the drivers for the amount of scam ICOs that surged over the past couple of years.

Creating your own underlying blockchain is a different matter, and requires a great deal of technical knowledge, thus most ICOs go for a quick ERC-20 type token that can be created pretty easily.

[Rikafip]

Before creating a new cryptocurrency,  please first ask yourself do you really really need your own cryptocurrency for the idea you are working on. In these last few years we saw numerous projects that are not adding any real value, and that they don't have any real need for cryptocurrency, but decided to do it anyway just because it is popular to put the word "crypto" and "blockchain" somewhere in order to attract investors.

We have seen tokenization of practically everything , leading to that ICO bubble, and that ended up with people loosing hundreds of millions of dollars.So please, if you really don't have proper need for token/coin, don't go that path.

Jurrasic Park quote  fits nicely here

''Your scientists were so preoccupied with whether or not they could, they didn’t stop to think if they should.''

[bitmover]

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.

Why the hell a crypto enthusiast would want to create his own cryptocurrency?
Have you ever thought that you need your own currency for anything?

I consider myself a crypto enthusiast and I never wanted to create my cryptocurrency.

I see that too many people are trying to get rich quick here..

[Henri Cartier]

Why the hell a crypto enthusiast would want to create his own cryptocurrency?
Have you ever thought that you need your own currency for anything?

I consider myself a crypto enthusiast and I never wanted to create my cryptocurrency.

I see that too many people are trying to get rich quick here..

Thanks for your comment. It is not about getting rich quickly, it is the passion or interest to create your own cryptocurrency. Not everyone would like to have their own currency but there are people who have interest and wants to showcase their coins to the new members, for them this article would help.

[terizla]

I think this is wrong place for posting this....
How can this help any Beginner

Topic should be moved to offtopic or some part of shitcoin sections

Well, this true
For what Newbies create own cryptocurrency ?
Most of Newbie in here is always focus on earning.

And this topic is full of text and no one image. This is just copy from website and add source.

[LTU_btc]

So, there is still not enough shitcoins in the market? Imagine what if every crypto enthusiast would create their own cryptocurrencies? 99.99% of such coin projects will fail just after first step. It's not become rich quick scheme. If you have no idea what you're doing, you will simply fail. I see only one benefit in this topic - making your own currency may be good education and you can learn something from technical perspective.

[hugeblack]

If everyone starts to create their own money it will not have a value, creating your own currency will lead you to waste your time and investments.
There are thousands of shitcoins but their real value is zero, why pay for you while I might be able to create a new currency through some Youtube learning code and a few dollars.

[dkbit98]

Will moderators please move this to proper altcoin section,
because maybe creator don't know how or simply will not do it himself?
I see it pop up again and again

[Henri Cartier]

I think this is wrong place for posting this....
How can this help any Beginner

Topic should be moved to offtopic or some part of shitcoin sections

Well, this true
For what Newbies create own cryptocurrency ?
Most of Newbie in here is always focus on earning.

Not only Newbies, there are many people have desire to learn how to create a Coin? Recently, I read a thread where I came across a Hero Member @cabalism13 who wrote in his thread that he want to learn about a coin. Refer this thread posted by OP - https://bitcointalk.org/index.php?topic=5169930.msg51990410#msg51990410






>> Not only this there are many people who has desire to learn how to create their own crypto. So only I created this post. Though if they do not implement it atleast they can learn how to create a coin.

Will moderators please move this to proper altcoin section,
because maybe creator don't know how or simply will not do it himself?
I see it pop up again and again

It doesn't matter where it is posted but it is important that people learn from it. It would help anyone who is interested to learn.

[Henri Cartier]

Hope it might help altcoin users! Thank you.

[lixer]

You have tried, but honestly, this type of article, I don't think it is relevant for public consumption because this should be limited to few people and those people are the one that should go about looking for it, but not as you have displayed it on a platter of gold now, there are some intending scammers that has been limited because of their lack of knowledge on how to go about it.

Seeing this article, they have full brief on how to go about it now, and I think it would be a bad thing for the crypto industry if everyone starts going into creating lots of shitcoins, then out of 100,000 coins, you will hardly see 10 that is genuine, because like your second paragraph said, they can make money through it.  me I feel that it is when you have a project to establish that you should go about thinking of this.

[GGmith]

to be honest I really like the world of cryptoqurrency but I don't want to make my own coins. make it easy but difficult to develop. do not have to go far, for example many projects have large corporate partners, they launch their own programs and may not even be able to develop tokens correctly especially if you want to develop your own tokens. need careful preparation

[Ben Shedly]

Why create your own cryptocurrency? Are there really so few of them in the crypto market? There are already more than 2-3 thousand different coins and tokens, is this not enough?
I believe that in the crypto market there are enough coins covering various areas of activity, and you need to think better about how to improve the quality of their management and increase the number of investments in the crypto market.

[Jpti]

Why the market needs more cryptocurrency? There are already enough coins available in the market, and the number is not enough? I do not take the issue of creating cryptocurrency lightly? It is a serious matter and only taking the issue seriously will lead to a success. Taking this issue seriously will help eliminate shitcoins from the market.

[Ranly123]

I just really hope that creating cryptocurrency is not opened to everybody,this is really affecting crypto and this is why we have too many shitcoins,the more easier it gets to create own coins the more scam and shit coins will continue plaguing crypto..

Building coins and tokens should have been for only those who are qualified not for everyone

You're right, it should not be opened for everyone for it will be prone to abuse. Also if everybody knows how to create cryptocurrency tokens, there will be instances that scams will be rampant and it will be unavoidable.

[qweqwe2121]

I suspect, only this way scammers can get millions of dollars? making their coins, fictitious teams and projects, whitepaper copies, how does it not seem like there is no special expertise to make this coin.  I hope this will not be a way for Crime.

[cosmofly]

but it seems we need IT knowledge. I think it's quite important in writing code to run the blockchain.
Besides, we need a great idea and have a high demand for that kind of service. It will be something that can help us call capital more successfully and sustain the business in the long run.
Hopefully this article will help with good start ups.

[muhhentuhhen]

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.

Why the hell a crypto enthusiast would want to create his own cryptocurrency?
Have you ever thought that you need your own currency for anything?

I consider myself a crypto enthusiast and I never wanted to create my cryptocurrency.

I see that too many people are trying to get rich quick here..

Gosh, it can be explained easily. The reasons to make your own cryptocurrency may be different. For example, you have a game server and you need to create a game currency or really want to earn. Also, creating a cryptocurrency is a great way to get acquainted with its internal side and thoroughly study its features.

I do not see here anything that can be a threat to existing tokens and BTC.