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Keith700

Creating my own cryptocurrency is profitable?

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No doubt making your own crypto currency will be profitable but just making your crypto coin is not enough. And all this need this a lot of hard work and money. Then you will be able to earn profit. 

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It is profitable to make my own currency I can use the coins as we wish but it will take a long time to pump No one easily believes in new currencies. Everyone thinks it's a scam Demand for this specialty has grown significantly as a result of recent corporate scandals.

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On 6/10/2020 at 3:57 PM, Laboni said:


It is profitable to make my own currency I can use the coins as we wish but it will take a long time to pump No one easily believes in new currencies. Everyone thinks it's a scam Demand for this specialty has grown significantly as a result of recent corporate scandals.

No one believe in new currencies because most are scam, so, having your own made or created may not be successful. And as how the question was asked, the answer is, No. 

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I think that this is generally not profitable for many novice users, even dangerous! After all, in fact, you need to invest in this cryptocurrency, a very large amount that will be used by other users, so it is not the best idea!

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yes if you create a creative and useful coin of course its profitable but you have to know creating a new coin is not easy and you have to spend a lot of money and hire a pro team and have good plans for it and it is risky because your project may not work and you will lose money.

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This is a very big step in creating your own cryptocurrency
This will take you a lot of effort and time, so I advise you to consult some programmers before starting this step

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That's can be big step for you to create persnal cryptocurrency

I think that can take lot time and power to start create your own cryptocurrency.

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Creating your own cryptocurrency is profitable but i think you will need a lot of money. You will need money to hire programmers because a new coin needs coding and other costs.

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I don't think it's profitable because what you thought about the cryptocurrency is not same. Look how it works and how complicated it is. You need to have good purpose and good amount of capital if you want to survive in the market. I think if you have good plan then it is profitable otherwise you wont get profit by making own cryptocurrency.

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Owning your own Cryptocurrency project will be good for you because you will make huge money as long as it is legitimate because many people will rush to invest in your project but you have to remember that it is not an easy task to accomplish for that you need good programming skills and deep experience about Cryptocurrency.

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I cannot says if it is profitable or not because its just a business, so the principal of business is to success or to fail, but the most chances is to success, so if you'll success to get investors, it will be profitable. 

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The way some view the issue of creating new Crypto currency seems it's that simple, to me I don't portray it as such because I have seen a lots of Crypto coins project too numerous to mention that have failed on the way, that has become a shit coins with no value. This is team work that requires different professional to sacrifice enough amount in promoting the project to extend it's realize potential and able to compete favourably with the rest of top coins at the capital market.

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Its a great idea to get more profit by creating your own crypto, but may be the task is not so much easy. You have to run your cyrpto with the exchange site, otherwise your cyrpto might be face big loss. 

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Creating own coin or tokens is much profit able then trading own coins but it needs high investments for creating own blockchain technology wallets and also good team behind projects. 

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On 10/21/2019 at 12:20 PM, Keith700 said:

I think that creating a cryptocurrency from my point of analysis is totally profitable.
Owning a digital asset that has volatility even once a year guarantees a good return.
The most important thing is to have a team that supports your idea, it can be a tertiary crypto to start experiencing the startup project.
If I had the opportunity to create my own cryptocurrency, I would not hesitate to direct it to the education of the blockchain system, a very powerful and corrective idea, to address an audience as demanding as this is a lesson in creation and incentive.

It will only become profitable if there are users that will use it. Until it doesn't have value and users in the market, I think it will not be profitable at all. But if your coin will be a success, then congrats, you can earn a high value earning everyday.

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You idea will not succeed. If you create a cryptocurrency now it will go unnoticed and noone will ever buy it unless you make good marketing and manage to have an angel investor or some people in crypto back you with good money. This will probably won't happen so it is better to forget it. This unless you are already a whale and you can risk a good amount to make it succeed.

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Anyone who is able to create a cryptocurrency, a token on the Ethereum blockchain, but what is the benefit of this token if it is not on the trading exchanges and has a real value for the benefit of the investors.

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My dear you are have a good idea but if you are manage to make one cryptocurrency what it will be since we are have thousands of ERC20 tokens and thousands of blockchains too. What are you plan to make you are need people with you that have experienced and are not just beginner that talk a lot and do not know anything.

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The odds are against you of making any profit at all. Probably nobody will buy your coin and you will not be able to make even the cost of the time and the money you spend to create it. It will be very rare and you need a really good idea to create something unique.

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I don't want to discourage you but it will need to have at least programming background and some undertsanding of cryptocurrencies. If you have limited knowledge on these then it will be very difficult to make even an ERC20 token on ethereum. And if you make it it will still be very difficult to see this token succeed. There have been thousands of tokens that didn't make any money at all.

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I dont truly accept that, I how ever agree that you can make something out of the work that you online with crypto , crypto is suppose to create the greatest world for freedom and a project that you start that actually does work for you , you must be able to enjoy that world perfectly .

I think a perfect project can be one that you can enjoy but the truth is we need to follow certain process that work well for you there is a lot that one needs and a good project for that is warranted

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I personally think that owning a crypto currency would really that thing that is profitable since this kind of thing is like starting up your own business. There are risks into this kind of things and I think there would be a high chance that it would turn out to be a failure since introducing newly introduced crypto currency to them who have no idea about the project being created. They would be doubting the legibility of the crypto currency you have made by the users since it is only been introduced to them and will take it risky since they are thinking that it would turn out to be failure just like the other projects.  

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Probably not a good idea. You are probably unskilled and have no programming knowledge so you will ask someone else to make it for you and pay him. But this is not cheap and it needs weeks even for skilled programmer. And which cryptocurrency you want to create? A bitcoin clone, a token? Something else? So if you think just that isn't it a bad idea?

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I can tell you right now that if you plan to create your cryptocurrency and have as target to make profit, it will be a failure. If you try to make one to gain experience and use it later for another cryptocurrency that you will be part of a team it will be better.

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It is good that you have given it some thought and that you understand it is not something that can only be done by a single person. Although Satoshi probably did everything himself still he had to lock him self in his room for years. Anyway it is a good idea but needs a lot to invest before you make it. And needs the correct people too.

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If the Fed takes its first step in easing its monetary policy in September, it could support risky assets, including bitcoin. According to Cryptology experts, the chances of bitcoin reaching a new all-time high by the end of September are quite high, and what is happening now is a phase of accumulation.   Despite the current decline, many investors remain optimistic, citing the cyclical nature of the crypto market. They also do not forget about the US elections. For example, former Goldman Sachs CEO Raoul Pal predicted significant bitcoin and cryptocurrency market growth in Q4 2024. In an episode of The Wolf Of All Streets podcast, the financier noted that risky assets like bitcoin usually rally against the backdrop of US presidential elections. "The final quarter of an election year is a real 'banana zone' for all assets. It always is," Pal optimistically stated, noting that the "banana zone" for cryptocurrencies in autumn is much more pronounced than, for example, for the Nasdaq index.   Bitcoin was also supported by billionaire Michael Saylor. His company, MicroStrategy, is one of the largest bitcoin holders in the world, with 205,000 BTC on its balance sheet. Despite the negative trend, it increased its reserves by another 11,931 BTC (over $700 million) in the past month alone. Saylor is convinced of the first cryptocurrency's ability to grow to $10 million with support from China and other factors. He believes that in the future, governments, especially China, will fully embrace the first cryptocurrency and integrate it into the state infrastructure. The entrepreneur declared all pre-bitcoin economic instruments obsolete. "Before Satoshi Nakamoto, economics was a pseudoscience. All economists before Satoshi tried to develop economic laws with shells, glass beads, pieces of paper, and credit instruments," the businessman wrote, calling bitcoin a "perfect asset."   In previous reviews, we already wrote that the launch of exchange-traded spot ETFs on Ethereum could give a certain boost to the digital asset market. On 25 June, SEC (US Securities and Exchange Commission) Chairman Gary Gensler noted that the registration process for new ETFs is "going smoothly," and the approval date depends on how quickly applicants submit adjusted S-1 forms. Bloomberg analysts call 02 July the expected approval date for new products. Reuters, citing anonymous sources, reports that a consensus has been reached between fund managers and the SEC in negotiations, and only the "final touches" remain.   Co-founder of venture company Mechanism Capital Andrew Kang stated that after the approval of ETH-ETF, Ethereum's rate could correct by 30%, falling to $2,400. In his opinion, at this stage, the main altcoin attracts much less attention from institutional investors compared to bitcoin. Based on this, ETH-ETF will attract only 15% of funds compared to what BTC-ETF received at the start.   Kang noted that to increase Ethereum's attractiveness among investors, its ecosystem needs to be positioned as a decentralized financial settlement layer, a global computer, or a Web3 application store. At the same time, it will be difficult to sell new ideas for Ethereum's application to funds, as the asset is perceived by investors as an overvalued stock of a large technology company.   Significantly more positively views the future of Ethereum Matt Hougan, CIO of Bitwise, a company managing cryptocurrency funds. In his opinion, the appearance of a long-awaited exchange product is undoubtedly a positive factor, and the net inflow of investments into ETH-ETF over the first 18 months will amount to $15 billion. In his analysis, he relies on the experience of Canada and the EU, where in similar products the inflow ratio for Ethereum and Bitcoin is approximately 1 to 4 (i.e., 25%). In other words, if in the first quarter of work for spot Bitcoin-ETF the total inflow was $26.9 billion, for Ethereum it is expected to be at the level of $6.7 billion. In this case, in three months of work, the leading altcoin could rise to $4,400-5,000.   CEO of SkyBridge Capital Anthony Scaramucci believes that the price of Ethereum could rise even higher, reaching $10,000-12,000. Regarding bitcoin, the entrepreneur allows for its growth to $170,000-250,000. The main driver, in his opinion, will be the further institutional acceptance of cryptocurrency. Scaramucci called the approval of spot exchange ETFs an important regulatory barrier breakthrough for attracting new capital. Thanks to this, in his opinion, the share of digital gold in the portfolios of major players will soon be about 3%.   As of the evening of Friday, 28 June, BTC/USD is trading at $60,190, and ETH/USD is in the $3,390 zone. The total crypto market capitalization is $2.24 trillion ($2.34 trillion a week ago). The bitcoin Fear & Greed Index (Crypto Fear & Greed Index) has dropped from 63 to 47 points over the past 7 days, moving from the Greed zone to the Neutral zone.   In conclusion, here is another observation from Matt Hougan. The CIO of Bitwise presented three reasons why long-term investments in both bitcoin and Ethereum are more advantageous compared to investing only in bitcoin. These are: 1. portfolio diversification 2. the opportunity to earn on very different ecosystems and 3. economic benefit.   Considering the difference in the capitalization levels of bitcoin and Ethereum, Hougan believes that 75% of the capital should be invested in BTC and 25% in ETH. According to calculations, over the period from May 2020 to May 2024, the yield of such an investment portfolio is 3% per annum higher than one that only contains bitcoin. However, Hougan acknowledges that in the shorter term, a portfolio including 100% BTC outperforms a diversified one. Moreover, investing only in bitcoin carries fewer risks due to its higher market capitalization and features such as limited coin issuance and a phased reduction in the inflation rate to zero.   NordFX Analytical Group   Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.   #eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market   https://nordfx.com/ 
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