Some advice for people who want to create their own currency

[Nezar 7169]

Hello friends we all know that creating our own cryptocurrency is very difficult and requires a large income and sums of money, but there are many people who have the ability to create currencies, so I will provide some advice that can benefit everyone

 

1-It is a mistake to expect people to easily accept your digital currency, so you must focus on what people need and you must know what your currency is used and how well your users' needs are met.

 

2-A prototype must be created and its concept must be explained and made clear to others.

 

3-You should think like a hacker, meaning that you should constantly look for gaps and pitfalls in your currency and try to put yourself in the shoes of pirates and think like them to find weaknesses in your currency.

 

4-For consumers: everyone must be willing to create new digital currencies, for this you need to clearly define the features or USP of your currency for the end user.

 

5-Nobody is perfect, so always make sure to build your product at the right pace, because changes and modifications are part of the process.

 

6-Looking for mining workers, once you get your currency you need to find mining workers in an effort to build confidence and express your vision and thus you will get a true understanding of your idea that you must stick to in the long run.

 

7-If you are not a technical person in modern technology, you must have another person good in it to deal with the coding part

 

8-You must decide whether you want to create a Bitcoin division or create a new digital currency from scratch and should choose one of the options that best suits your specific needs.

 

As a reminder: The most important currency that was created so far is the bitcoin coin that was established in 2009 and is one of the first digital currencies that stunned the world and sparked widespread controversy as it achieved sudden and unexpected price jumps, and the bitcoin coin is followed by the importance of the ethereum currency. There are also Ripple, Litecoin, Nemo, Ethereum Classic, Dash, Minyoro, and others, and many popular and discarded digital currencies have been built.

 

Translated from

https://www.google.com/amp/s/aitnews.com/2018/01/23/%D9%83%D9%8A%D9%81-%D8%AA%D9%86%D8%B4%D8%A6-%D8%A7%D9%84%D8%B9%D9%85%D9%84%D8%A9-%D8%A7%D9%84%D8%B1%D9%82%D9%85%D9%8A%D8%A9-%D8%A7%D9%84%D8%AE%D8%A7%D8%B5%D8%A9-%D8%A8%D9%83/amp/

Edited March 25, 2020 by Nezar

[rekter 8129]

5 hours ago, Nezar said:

Hello friends we all know that creating our own cryptocurrency is very difficult and requires a large income and sums of money,

 

Actually creating your own currency doesn't cost anything but electricity and time you consume to make it. Coin can be done as a hobby and it doesn't need funds to keep alive. Only miners and community. But if you want to have cash for the team as well, many teams have used premine as a solution. I don't necessarily agree on that as a good funding method but i understand it.

 

If you want to hire a professional team, that's another thing. But it can be also formed from volunteers

Edited March 25, 2020 by rekter

[guatazoo 7150]

It is very easy to create your own currency like creating the YouTube channel, but it might be costing you in creating it but end of the day you are not getting the investors 

[bliznec 22267]

It’s all good that you explain and explain clearly. The main thing is that in order to create your own cryptocurrency, you need a lot of money to do a listing on exchange exchanges. 

[tienda 8776]

Thank you for sharing this big information useful and helpful for those who are interested in creating their own cryptocurrency, yes of course the first things we need to have is money and also the knowledge. There are many people who created their coin, but at the end not survive more than a week.

[Bohana 2143]

On 3/25/2020 at 12:06 PM, Nezar said:

Hello friends we all know that creating our own cryptocurrency is very difficult and requires a large income and sums of money, but there are many people who have the ability to create currencies, so I will provide some advice that can benefit everyone

 

1-It is a mistake to expect people to easily accept your digital currency, so you must focus on what people need and you must know what your currency is used and how well your users' needs are met.

 

2-A prototype must be created and its concept must be explained and made clear to others.

 

3-You should think like a hacker, meaning that you should constantly look for gaps and pitfalls in your currency and try to put yourself in the shoes of pirates and think like them to find weaknesses in your currency.

 

4-For consumers: everyone must be willing to create new digital currencies, for this you need to clearly define the features or USP of your currency for the end user.

 

5-Nobody is perfect, so always make sure to build your product at the right pace, because changes and modifications are part of the process.

 

6-Looking for mining workers, once you get your currency you need to find mining workers in an effort to build confidence and express your vision and thus you will get a true understanding of your idea that you must stick to in the long run.

 

7-If you are not a technical person in modern technology, you must have another person good in it to deal with the coding part

 

8-You must decide whether you want to create a Bitcoin division or create a new digital currency from scratch and should choose one of the options that best suits your specific needs.

 

As a reminder: The most important currency that was created so far is the bitcoin coin that was established in 2009 and is one of the first digital currencies that stunned the world and sparked widespread controversy as it achieved sudden and unexpected price jumps, and the bitcoin coin is followed by the importance of the ethereum currency. There are also Ripple, Litecoin, Nemo, Ethereum Classic, Dash, Minyoro, and others, and many popular and discarded digital currencies have been built.

 

Translated from

https://www.google.com/amp/s/aitnews.com/2018/01/23/%D9%83%D9%8A%D9%81-%D8%AA%D9%86%D8%B4%D8%A6-%D8%A7%D9%84%D8%B9%D9%85%D9%84%D8%A9-%D8%A7%D9%84%D8%B1%D9%82%D9%85%D9%8A%D8%A9-%D8%A7%D9%84%D8%AE%D8%A7%D8%B5%D8%A9-%D8%A8%D9%83/amp/

Wow this contains so much valuable information. I am surprised about the money needed for creating a new coin. I would definitely invest that amount of money in something else!

[rianpedia 816]

On 3/25/2020 at 11:07 PM, guatazoo said:

It is very easy to create your own currency like creating the YouTube channel, but it might be costing you in creating it but end of the day you are not getting the investors 

Easy but not easy to implement, it must have a lot of followers and attractiveness for investors willing to trade the coin currency.

[Whited35 15285]

I am reading the reports of so many flopped cryptocurrency projects.From the starting phase, some of the new projects make so may mistakes  by distributing the huge money through the airdrop programs and they follow aggressive marketing strategy later they stocked exactly where they were first. So I also love advise, first determine you have sufficient funds to cover your project or not. 
 

[MrGox 880]

l don't know exactly, what can l say about that. But since l have been in this world, l know only that, be careful about security. 

[Honny143 13612]

In my opinion don't create your own coin because we need so much  money, but its success and so many members invest your coin, its not happen because in this crypto market so many shit coins available this coins no prices in crypto  market, so don't create your own coin and loss your money.

[CryptoMaxim 3829]

Of course, it is worth reading the post who is going to create. I do not have such funds because apart from creating a coin and listing it on exchanges. You need to create a product yet, so that the coin is in demand and successful.

[Philippe2001 356]

Create new information
Token for special coins, and you will help
A lot of fans of cryptocurrencies, but as I said a lot of money and
 an auxiliary team should have enough experience in the token

[magd 5231]

My friend, don't you think that making cryptocurrency is difficult for ordinary people, and what is the benefit of creating a special currency? The crypto market is filled with currencies that we do not know and with a low price

[malik6314193 5449]

Thanks for sharing this useful information with us. It is little bit lengthy but valuable and helpful. But i am not interested in making new currency. 

[Laboni 755]

You are right that making your own currency is not a difficult matter, but launching in that market is a difficult matter. Old currency is not being invested much less, but how will people invest in the new currency. Your suggestions are really great. Those who make new coins will benefit.
 

[pablomarwan 3082]

In these points, I agree with you because before all of these things you need income and promotion of your currency after you create it. You have to think about an idea that does not cause this currency was created like other currencies. It is vulnerable to penetration, so the security features must be strengthened to protect your own currency. You have a reliable team to guarantee yourself .thank u for this information, because it will be useful for anyone looking to create a private currency

[Hatred 1388]

On 3/25/2020 at 6:06 PM, Nezar said:

Hello friends we all know that creating our own cryptocurrency is very difficult and requires a large income and sums of money, but there are many people who have the ability to create currencies, so I will provide some advice that can benefit everyone

 

1-It is a mistake to expect people to easily accept your digital currency, so you must focus on what people need and you must know what your currency is used and how well your users' needs are met.

 

2-A prototype must be created and its concept must be explained and made clear to others.

 

3-You should think like a hacker, meaning that you should constantly look for gaps and pitfalls in your currency and try to put yourself in the shoes of pirates and think like them to find weaknesses in your currency.

 

4-For consumers: everyone must be willing to create new digital currencies, for this you need to clearly define the features or USP of your currency for the end user.

 

5-Nobody is perfect, so always make sure to build your product at the right pace, because changes and modifications are part of the process.

 

6-Looking for mining workers, once you get your currency you need to find mining workers in an effort to build confidence and express your vision and thus you will get a true understanding of your idea that you must stick to in the long run.

 

7-If you are not a technical person in modern technology, you must have another person good in it to deal with the coding part

 

8-You must decide whether you want to create a Bitcoin division or create a new digital currency from scratch and should choose one of the options that best suits your specific needs.

 

As a reminder: The most important currency that was created so far is the bitcoin coin that was established in 2009 and is one of the first digital currencies that stunned the world and sparked widespread controversy as it achieved sudden and unexpected price jumps, and the bitcoin coin is followed by the importance of the ethereum currency. There are also Ripple, Litecoin, Nemo, Ethereum Classic, Dash, Minyoro, and others, and many popular and discarded digital currencies have been built.

 

Translated from

https://www.google.com/amp/s/aitnews.com/2018/01/23/%D9%83%D9%8A%D9%81-%D8%AA%D9%86%D8%B4%D8%A6-%D8%A7%D9%84%D8%B9%D9%85%D9%84%D8%A9-%D8%A7%D9%84%D8%B1%D9%82%D9%85%D9%8A%D8%A9-%D8%A7%D9%84%D8%AE%D8%A7%D8%B5%D8%A9-%D8%A8%D9%83/amp/

Very long post but worth it to read. It is very informative and valuable.For those who are planning or imposing to create their own coin, you must read it and follow the tips that mr @Nezar given to us. Thanks for sharing this kind of information to us., It is very helpful specially for other members.

[rianpedia 816]

7 hours ago, MrGox said:

l don't know exactly, what can l say about that. But since l have been in this world, l know only that, be careful about security. 

crypto security is based on our own whether clean on the computer and not doing things that are at risk. It's also useless from the security crypto platform that is strong but we are careless in doing something that is risky to be hacked.

[DokAgsikap 145]

9 hours ago, Whited35 said:

I am reading the reports of so many flopped cryptocurrency projects.From the starting phase, some of the new projects make so may mistakes  by distributing the huge money through the airdrop programs and they follow aggressive marketing strategy later they stocked exactly where they were first. So I also love advise, first determine you have sufficient funds to cover your project or not. 
 

They are focusing too much in the output rather than what does they are working for, I mean they are lacking in developing their project they always want to fasten the progress and they are always too fast for exchanges and they forgot to develop their project, and that is the reason why they are always fails.

[Jessica Karren 1242]

Very valuable points. New cryptocurrencies will never get popular among people until their developers have a proper plan before it's launch. They must know how to attract people, how to manage the financial aspect etc.

[Calvinpriva 17296]

Creating your own currency its very good but the problem is that you will need a lot of money to invest in your project or at least you can find the right people and start together with them as a group.

[Yunusalemu 0]

That is really quiet ambitious to own your own digital currency in the whole  crypto currency market i am quite pretty sure it would require some huge amount of funding to start up. 

[BTC Future 3946]

In the past there was no need for vast resources, or for extreme coding skills. Most coins were just cloning Bitcoin and tweeking some options, as Litecoin did. No investment funds and almost zero coding skill and Charlie Lee managed to make billions out of it. Still right now competition is fierce and a new coin to succeed probably needs a lot of their own resources and effort. Cloning another coin, or creating another ERC20 won't help unless there is a ready product that provides something unique. Personally I've seen only a couple of them appear since 2018 and even they look like failing. The market is hanging it's hopes on a new Bitcoin bull market, and this is actually even more scary, as Bitcoin will have to drug thousands of useless projects along with it.

[bentayebsalah 2280]

Yes, these were useful and good advice that every person who wants to create their own cryptocurrency should follow in order to succeed in their currency

[Upright 2688]

Many great advice from all uses as, when regarding the creation vans what the cost actually are, as it's basically that of the electricity and that if the time and efforts which will be put in as to create a live coin. Asl d also that of having to provide a clear advert on what the coin was created purposely.