Strides of blockchain technology have been remarkable recently. It is making its mark in almost every industry – streamlining processes and automating operations to deliver efficiency.
But it’s not just this; it has introduced never-before-seen use cases. The cryptocurrency laid on the foundation of blockchain is one of the most prominent and successful ventures of blockchain.
More importantly, crypto has become the most profitable investment in the last many years. People are rushing to invest in crypto and making thousands of dollars in no time.
Carl Runefelt is one such figure. Not long ago, he was lingering in a supermart as a cashier, but today he drives his dream car Bugatti on the roads of Dubai. Investing in crypto changed his life overnight. Today, he is a billionaire and is featured in Forbes under 30 millionaires.
Carl has invested in more than 360 crypto startups and often advises others to invest as well for huge profits. While speaking on his YouTube channel, The Moon, he said, “If you are working a nine-to-five job and you only make like $2,000 a month, I would say at least put a few hundred dollars every month into Bitcoin and keep accumulating weekly or monthly that’s exactly what I was doing back a few years ago when I was working in a grocery store.”
But do you know you can make even more money if you have your own cryptocurrency?
Let’s get into it then.
What is Cryptocurrency?
Cryptocurrency is a digital currency that is used to make money transfers using encryption techniques. It is highly decentralized in nature, meaning there is no intermediary in between the transactions like banks or a government.
It is a new phenomenon in a world that is becoming more digital every day. The first cryptocurrency, Bitcoin, saw the light of the day back in 2009.
Many predicted that it would soon fade off, but here it is today with a market cap of over 450 billion dollars – a disappointment for its critics.
Today, businesses and companies are embracing crypto in leaps and bounds. At the same time, crypto is witnessing massive investments from crypto investors.
Let’s Make Your Own Cryptocurrency
Once you decide to create your own cryptocurrency, there are things that you have to make sure which include:
- There shouldn’t be any third-party interference
- It should be self-regulated
- No one can steal your money
Below are some simple steps that you can take to create your own cryptocurrency:
Pre-built API:
First and foremost, you have to ensure impregnable security. In the case of cryptocurrency, pre-built API is the security key. Once you inculcate that, only then you would be able to make secure transactions. Although some platforms do not have that but to be on the safe side, it is one of the important prerequisites that you should have – integrate the APIs
The Design of the Interface:
Recent surveys conclude that more than 30 percent of the users bounce off the platform or website due to poor interface. You have to make a special effort to provide a simple yet attractive interface to your users. At the same time, you should also give an updated web server and dual-end programming.
Compatibility with the International Standards:
You’re almost there. The next step involves legalizing your cryptocurrency. There are a set of international standards, laws, and regulations that you need to comply with. You wouldn’t be able to launch your crypto if this area is missed.
Create a Coin:
Throughout the crypto creation process, you will need the services of an experienced professional who know the ropes well. This is because this is a highly complex and technical domain of decentralized technology. When making a coin of your crypto, you hardly have to spend 5 minutes of your time. The steps involved are:
- Copy the Bitcoin code
- Change the variable or value
- Understand your coin and how you can change it
- You have to allocate a budget for this process
Or You Can Create a Token:
You can become a currency maker yourself if you start creating your own tokens. Unfortunately, you would need a much bigger budget for development to make this happen.
You Own a Cryptocurrency Now
If crypto trading was not enough for you, you have your own crypto now. You cannot just make money by crypto trading now but can make a lot more with your digital asset.
The formula is simple: the more you’ll invest in crypto, the more you will be reaping in the future.
Carl Runefelt says, “Crypto is the only non-political money in the world. Remember, guys, your bank money can get frozen, and your gold can get confiscated, but crypto remains whether you’re in Slovenia, Sweden, or Dubai. No matter where you are, crypto is always online and working for you and everyone else. I think that is revolutionary, and I am so happy to be part of crypto, especially in times like these of massive global uncertainty.”
