How Hard Is It To Build A Cryptocurrency?Hey Alphas!
Today I wanted to talk about a question I’ve been asked a lot recently. How hard is it to build a cryptocurrency?
Now, this might sound like complicated and cutting edge stuff, and that’s because… Well, it is.
Experts speculate that blockchain technologies are going to play a massive role in the near future and many massive venture capital firms are looking for these types of projects to sink their teeth into.
Now don’t let that opening statement scare you off. It might sound difficult but it is not as complicated as you think.
In today’s day and age, we are blessed with a magical thing called the internet which literally puts all of the resources that you need directly at your fingertips.
The process is actually a lot easier than it appears and requires only a few key elements.
First of all your going to need an idea.
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Your concept should be first of all be something that you are passionate about. This first step is crucial and very important. If you don’t have the passion for your project, chances are that you are doomed right from the start.
Your idea should be unique and more importantly should have a real world application that solves some sort of problem. Simply taking an existing concept and rebranding it might work, but for a greater chance of success, you really want to come up with something new and unique that the community will find fascinating and want to be a part of.
Once you have your idea, the next step is to find your team.
Now, this part is actually the most difficult. Finding a developer who is well versed in cryptography and blockchain technology is much rarer than simply finding someone who can code a website for you.
The best place to begin your search is on a forum called BitcoinTalk. This forum is the world’s leading meeting place for everyone interested in the world of crypto.
By searching the forums you should be able to find developers for hire that are looking for work and if they like your project concept, might be willing to work with you.
Another place that you can find a competent developer is on Upwork. This site connects project developers with all kinds of people around the world looking for outsourcing gigs.
So once you have your crypto-coder on board, the next step is to hire a graphic designer to build you a great looking logo.
Additionally, you should also create a website that looks sharp and clearly outlines your coin’s purpose and mission.
You might be able to have your crypto-coder create the website for you, if not you can easily find a website developer on Upwork to fill the role.
Once your website and logo are all created, the next step is to build an announcement thread on BitcoinTalk outlining your project and launch date.
This is important as you want to build hype and get as many people on board before you actually go live.
With a solid marketing strategy in place before actually going live, you will have a much more solid chance of being successful.
There are many ways to do this.
You can look to attract media attention, become very active on the forums themselves, or even use paid advertising to help get your project off and running.
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What you should understand is that not only are you building a digital currency, you are also creating a community.
It’s important to stay active and nurture your new project as it grows from its infancy stage and makes its way into the mainstream.
And that’s basically it.
Here is an example of a cryptocurrency that I created for the billion-dollar medical marijuana industry www.DopeCoin.com.
If you have any questions, feel free to give me a shout.