{"id":3164,"date":"2020-02-04T11:30:23","date_gmt":"2020-02-04T11:30:23","guid":{"rendered":"https:\/\/paybis.com\/blog\/?p=3164"},"modified":"2024-04-23T11:43:58","modified_gmt":"2024-04-23T11:43:58","slug":"how-to-create-a-cryptocurrency","status":"publish","type":"post","link":"https:\/\/paybis.com\/blog\/how-to-create-a-cryptocurrency\/","title":{"rendered":"How To Create A Cryptocurrency &#8211; Ultimate A to Z Guide"},"content":{"rendered":"<p><em><strong>In this post, we will walk you through the steps that you need to follow if you are wondering how to create a cryptocurrency. Each chapter will lead to expert resources and contains lots of information, so you might wanna save this article and come back to it for future reference.<\/strong><\/em><\/p>\n<p><span style=\"font-weight: 400;\">The exciting world of cryptocurrency has turned the focus of many people on their future potential. Some focus solely on the profit potential while others on its practical application.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you are part of the latest, you might be willing to know how to create a cryptocurrency. After all, with more than 6000 coins circulating the market, there must be a place for your coin as well.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This article serves as the ultimate guide on creating your own successful cryptocurrency. Make sure you bookmark this post, as you will probably want to refer back to it in the future.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">So let\u2019s get started.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">How to Create a Cryptocurrency<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Here are all the different stages you need to take into consideration when considering how to create a cryptocurrency.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Create your coin or token<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The first step when looking at how to create a cryptocurrency is to develop the actual coin you want to distribute.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Creating a coin or token is a technical process. Even though there are quite a few guides on the web, truth is, you probably need at least some coding knowledge.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">That being said, there are two ways to create a new crypto coin.\u00a0<\/span><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\"><span style=\"text-decoration: underline;\">The first way<\/span> is by <\/span><b>creating a new blockchain.<\/b><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"> This will allow you to play with a lot of different parameters and create a very unique blockchain project. <\/span><\/span>While this method is considered to be a difficult and costly approach, there are <a href=\"https:\/\/www.udemy.com\/course\/build-blockchain\/\">great courses<\/a> and <a href=\"https:\/\/www.youtube.com\/watch?v=baJYhYsHkLM\">videos<\/a> to help you do it all by yourself.<\/li>\n<li><span style=\"font-weight: 400;\"><span style=\"text-decoration: underline;\">The second way<\/span> is by <\/span><b>creating a token.<\/b><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"> This is a much easier, low-cost approach that is practiced by most new cryptocurrency creators. <\/span><\/span>In essence, you will build a token on an existing blockchain, the most popular of which is the Ethereum network. On Ethereum, you can build an ERC20 token. These are easy to build, don\u2019t require much technical knowledge, and are a great starting point. <a href=\"https:\/\/steemit.com\/ethereum\/@maxnachamkin\/how-to-create-your-own-ethereum-token-in-an-hour-erc20-verified\">Here is a guide to get you started<\/a>.<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Remember that the type of cryptocurrency will not be the biggest success factor &#8211; that\u2019s just the beginning. As such, you should be good to go with an ERC20 token.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Setting up a winning team<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">You probably don&#8217;t know how to create a cryptocurrency all on your own. Recognizing this can be the start of your team-building efforts.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While the ability to create a strong team is often overlooked until much later on, it is crucial from the very start.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">No one has ever made it alone. And that is especially true for new crypto projects in 2020. Nowadays, even the smallest detail matter. As such, the bare minimum you will need to have a chance of success is the following:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><b>Web\/Backend developer<\/b><span style=\"font-weight: 400;\"> &#8211; At least one person in your team should have a technical background, to ensure that all issues related to your token and website are handled appropriately.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Marketing\/Community builder<\/b><span style=\"font-weight: 400;\"> &#8211; At least one person in the team should know how to promote your cryptocurrency to increase its exposure and build a community around it.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">And that\u2019s it. With a team as small as two people, you could theoretically create your own cryptocurrency.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The rest of the roles can easily be outsourced with freelancers if the need arises.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You will naturally understand what things you can or can\u2019t find the time to do, once you read further in this article.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Then, based on your budget and needs, you can expand your team as necessary.<\/span><\/p>\n<div style=\"padding: 13px; text-align: center; background-color: #a4a7e3; border-radius: 30px; margin: 3%; color: #fff !important;\">You can find new team members by posting ads on blockchain-related job platforms and LinkedIn.<\/div>\n<h3><span style=\"font-weight: 400;\">Build the interface<\/span><\/h3>\n<p><picture class=\"attachment-pinterest\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-3167\" src=\"https:\/\/paybis.com\/blog\/wp-content\/uploads\/2020\/01\/webdesign-e1580300418828-1024x527.png\" alt=\"\" width=\"770\" height=\"397\" srcset=\"https:\/\/paybis.com\/blog\/wp-content\/uploads\/2020\/01\/webdesign-e1580300418828-1024x527.png 1024w, https:\/\/paybis.com\/blog\/wp-content\/uploads\/2020\/01\/webdesign-e1580300418828-300x154.png 300w, https:\/\/paybis.com\/blog\/wp-content\/uploads\/2020\/01\/webdesign-e1580300418828-150x77.png 150w, https:\/\/paybis.com\/blog\/wp-content\/uploads\/2020\/01\/webdesign-e1580300418828-768x395.png 768w, https:\/\/paybis.com\/blog\/wp-content\/uploads\/2020\/01\/webdesign-e1580300418828-1536x791.png 1536w, https:\/\/paybis.com\/blog\/wp-content\/uploads\/2020\/01\/webdesign-e1580300418828-2048x1055.png 2048w\" sizes=\"auto, (max-width: 770px) 100vw, 770px\" \/><a href=\"http:\/\/pinterest.com\/pin\/create\/button\/?url=https%3A%2F%2Fpaybis.com%2Fblog%2Fhow-to-create-a-cryptocurrency%2F&media=https%3A%2F%2Fpaybis.com%2Fblog%2Fwp-content%2Fuploads%2F2020%2F01%2Fwebdesign-e1580300418828-1024x527.png&description=How+To+Create+A+Cryptocurrency+-+Ultimate+A+to+Z+Guide\" class=\"pin-it-button\" target=\"_blank\"><svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M12.289,2C6.617,2,3.606,5.648,3.606,9.622c0,1.846,1.025,4.146,2.666,4.878c0.25,0.111,0.381,0.063,0.439-0.169 c0.044-0.175,0.267-1.029,0.365-1.428c0.032-0.128,0.017-0.237-0.091-0.362C6.445,11.911,6.01,10.75,6.01,9.668 c0-2.777,2.194-5.464,5.933-5.464c3.23,0,5.49,2.108,5.49,5.122c0,3.407-1.794,5.768-4.13,5.768c-1.291,0-2.257-1.021-1.948-2.277 c0.372-1.495,1.089-3.112,1.089-4.191c0-0.967-0.542-1.775-1.663-1.775c-1.319,0-2.379,1.309-2.379,3.059 c0,1.115,0.394,1.869,0.394,1.869s-1.302,5.279-1.54,6.261c-0.405,1.666,0.053,4.368,0.094,4.604 c0.021,0.126,0.167,0.169,0.25,0.063c0.129-0.165,1.699-2.419,2.142-4.051c0.158-0.59,0.817-2.995,0.817-2.995 c0.43,0.784,1.681,1.446,3.013,1.446c3.963,0,6.822-3.494,6.822-7.833C20.394,5.112,16.849,2,12.289,2\"><\/path><\/svg><\/a><\/picture><\/p>\n<p><span style=\"font-weight: 400;\">The one thing that is most often preached in the startup world is to pour all your energy into building the product. For most businesses, a great product will naturally attract an audience that is willing to use it.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><strong>This mentality is not true for crypto.<\/strong> Most products (usable cryptocurrencies) take years to build. As such, you need to focus on generating trust.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">And the best way to create trust is by creating a website with a beautiful design.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Sure, this may cost a bit, but it will make a huge difference later on when you try to get your coin placed on an exchange or looking to get listed on Coinmarketcap.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here are the things you need to keep in mind when building your website:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><b>Make your website beautiful<\/b><span style=\"font-weight: 400;\"> &#8211; Make sure that the overall design fits your target group<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Place your main message on top<\/b><span style=\"font-weight: 400;\"> &#8211; The visitor should understand what your project is all about within 5 seconds<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Make it minimalistic <\/b><span style=\"font-weight: 400;\">&#8211; The less technical you are and the simpler you explain your purpose, the better<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Make it personal<\/b><span style=\"font-weight: 400;\"> &#8211; People will trust you more if they know who you are. This theme has repeatedly been an issue with new cryptocurrencies, as many founders choose to remain anonymous.<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-weight: 400;\">Create the whitepaper<\/span><\/h3>\n<p><picture class=\"attachment-pinterest\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-3168 size-large\" src=\"https:\/\/paybis.com\/blog\/wp-content\/uploads\/2020\/01\/whitepaper-e1580301372841-1024x525.png\" alt=\"how to create a cryptocurrency\" width=\"1024\" height=\"525\" srcset=\"https:\/\/paybis.com\/blog\/wp-content\/uploads\/2020\/01\/whitepaper-e1580301372841-1024x525.png 1024w, https:\/\/paybis.com\/blog\/wp-content\/uploads\/2020\/01\/whitepaper-e1580301372841-300x154.png 300w, https:\/\/paybis.com\/blog\/wp-content\/uploads\/2020\/01\/whitepaper-e1580301372841-150x77.png 150w, https:\/\/paybis.com\/blog\/wp-content\/uploads\/2020\/01\/whitepaper-e1580301372841-768x394.png 768w, https:\/\/paybis.com\/blog\/wp-content\/uploads\/2020\/01\/whitepaper-e1580301372841-1536x787.png 1536w, https:\/\/paybis.com\/blog\/wp-content\/uploads\/2020\/01\/whitepaper-e1580301372841-2048x1050.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><a href=\"http:\/\/pinterest.com\/pin\/create\/button\/?url=https%3A%2F%2Fpaybis.com%2Fblog%2Fhow-to-create-a-cryptocurrency%2F&media=https%3A%2F%2Fpaybis.com%2Fblog%2Fwp-content%2Fuploads%2F2020%2F01%2Fwhitepaper-e1580301372841-1024x525.png&description=How+To+Create+A+Cryptocurrency+-+Ultimate+A+to+Z+Guide\" class=\"pin-it-button\" target=\"_blank\"><svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M12.289,2C6.617,2,3.606,5.648,3.606,9.622c0,1.846,1.025,4.146,2.666,4.878c0.25,0.111,0.381,0.063,0.439-0.169 c0.044-0.175,0.267-1.029,0.365-1.428c0.032-0.128,0.017-0.237-0.091-0.362C6.445,11.911,6.01,10.75,6.01,9.668 c0-2.777,2.194-5.464,5.933-5.464c3.23,0,5.49,2.108,5.49,5.122c0,3.407-1.794,5.768-4.13,5.768c-1.291,0-2.257-1.021-1.948-2.277 c0.372-1.495,1.089-3.112,1.089-4.191c0-0.967-0.542-1.775-1.663-1.775c-1.319,0-2.379,1.309-2.379,3.059 c0,1.115,0.394,1.869,0.394,1.869s-1.302,5.279-1.54,6.261c-0.405,1.666,0.053,4.368,0.094,4.604 c0.021,0.126,0.167,0.169,0.25,0.063c0.129-0.165,1.699-2.419,2.142-4.051c0.158-0.59,0.817-2.995,0.817-2.995 c0.43,0.784,1.681,1.446,3.013,1.446c3.963,0,6.822-3.494,6.822-7.833C20.394,5.112,16.849,2,12.289,2\"><\/path><\/svg><\/a><\/picture><\/p>\n<p><span style=\"font-weight: 400;\">When building a website, you will need to invest time and funds into writing a high-quality whitepaper for your project. After all, that&#8217;s the reason most people visit your website.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The difference between a great website and a great whitepaper is that the latest does not need to focus on design.\u00a0<\/span><\/p>\n<p><b>The focus here lies in writing high-quality content<\/b><span style=\"font-weight: 400;\">. And by that I don\u2019t mean technical terms &#8211; in fact, that\u2019s the exact opposite of what I am talking about. Here are the essential parts that need to be present in every whitepaper:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><b>A short summary<\/b><span style=\"font-weight: 400;\"> where you talk about the purpose and goals of your cryptocurrency<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>The problem<\/b><span style=\"font-weight: 400;\"> that your cryptocurrency is solving<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>The solution<\/b><span style=\"font-weight: 400;\"> that your cryptocurrency provides and how it plans to do so<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Team information<\/b><span style=\"font-weight: 400;\"> with links to their Linkedin profiles<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Information about your coin<\/b><span style=\"font-weight: 400;\"> (Supply, Distribution, ICO price &amp; date, etc.)<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Roadmap<\/b><span style=\"font-weight: 400;\"> to indicate what investors can expect in the short-term future<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Ideally, you\u2019d want to convey your message in the least amount of words while giving a brief overview of everything there is to know.\u00a0<\/span><\/p>\n<div style=\"padding: 13px; text-align: center; background-color: #a4a7e3; border-radius: 30px; margin: 3%; color: #fff !important;\"><span style=\"font-weight: 400;\"><strong>Remember<\/strong> &#8211; Bitcoin is the most popular cryptocurrency and <\/span><span style=\"color: #000000;\"><a style=\"color: #000000;\" href=\"https:\/\/bitcoin.org\/bitcoin.pdf\"><span style=\"font-weight: 400;\">its whitepaper<\/span><\/a><\/span><span style=\"font-weight: 400;\"> is only 9 pages long.<\/span><\/div>\n<p><span style=\"font-weight: 400;\">At this point, it might be a good idea to hire a content creator that specializes in cryptocurrency whitepapers. These individuals are not cheap to hire, but their work is essential for your cryptocurrency\u2019s success.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Build a solid community<\/span><\/h3>\n<p><picture class=\"attachment-pinterest\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-3169 size-large\" src=\"https:\/\/paybis.com\/blog\/wp-content\/uploads\/2020\/01\/social-e1580301612981-1024x527.png\" alt=\"how to start a cryptocurrency\" width=\"1024\" height=\"527\" srcset=\"https:\/\/paybis.com\/blog\/wp-content\/uploads\/2020\/01\/social-e1580301612981-1024x527.png 1024w, https:\/\/paybis.com\/blog\/wp-content\/uploads\/2020\/01\/social-e1580301612981-300x154.png 300w, https:\/\/paybis.com\/blog\/wp-content\/uploads\/2020\/01\/social-e1580301612981-150x77.png 150w, https:\/\/paybis.com\/blog\/wp-content\/uploads\/2020\/01\/social-e1580301612981-768x395.png 768w, https:\/\/paybis.com\/blog\/wp-content\/uploads\/2020\/01\/social-e1580301612981-1536x791.png 1536w, https:\/\/paybis.com\/blog\/wp-content\/uploads\/2020\/01\/social-e1580301612981-2048x1055.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><a href=\"http:\/\/pinterest.com\/pin\/create\/button\/?url=https%3A%2F%2Fpaybis.com%2Fblog%2Fhow-to-create-a-cryptocurrency%2F&media=https%3A%2F%2Fpaybis.com%2Fblog%2Fwp-content%2Fuploads%2F2020%2F01%2Fsocial-e1580301612981-1024x527.png&description=How+To+Create+A+Cryptocurrency+-+Ultimate+A+to+Z+Guide\" class=\"pin-it-button\" target=\"_blank\"><svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M12.289,2C6.617,2,3.606,5.648,3.606,9.622c0,1.846,1.025,4.146,2.666,4.878c0.25,0.111,0.381,0.063,0.439-0.169 c0.044-0.175,0.267-1.029,0.365-1.428c0.032-0.128,0.017-0.237-0.091-0.362C6.445,11.911,6.01,10.75,6.01,9.668 c0-2.777,2.194-5.464,5.933-5.464c3.23,0,5.49,2.108,5.49,5.122c0,3.407-1.794,5.768-4.13,5.768c-1.291,0-2.257-1.021-1.948-2.277 c0.372-1.495,1.089-3.112,1.089-4.191c0-0.967-0.542-1.775-1.663-1.775c-1.319,0-2.379,1.309-2.379,3.059 c0,1.115,0.394,1.869,0.394,1.869s-1.302,5.279-1.54,6.261c-0.405,1.666,0.053,4.368,0.094,4.604 c0.021,0.126,0.167,0.169,0.25,0.063c0.129-0.165,1.699-2.419,2.142-4.051c0.158-0.59,0.817-2.995,0.817-2.995 c0.43,0.784,1.681,1.446,3.013,1.446c3.963,0,6.822-3.494,6.822-7.833C20.394,5.112,16.849,2,12.289,2\"><\/path><\/svg><\/a><\/picture><\/p>\n<p><span style=\"font-weight: 400;\">If there is one chapter I\u2019d like you to pay the most attention to <strong>it&#8217;s this one<\/strong>.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A coin without a community is worth absolutely nothing. Most coin creators pay vast sums of money to \u201clend\u201d the community of popular cryptocurrency exchanges, by listing their coins on the exchange&#8217;s platform.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But there is a much better and cheaper way to go about this. And it all starts by building your own, solid community.<\/span><\/p>\n<div style=\"padding: 13px; text-align: center; background-color: #a4a7e3; border-radius: 30px; margin: 3%; color: #fff !important;\"><span style=\"font-weight: 400;\">If you haven\u2019t already, this might be a great moment to read <\/span><span style=\"color: #000000;\"><a style=\"color: #000000;\" href=\"https:\/\/kk.org\/thetechnium\/1000-true-fans\/\"><span style=\"font-weight: 400;\">Kevin Kelly\u2019s article<\/span><\/a><\/span><span style=\"font-weight: 400;\"> on the importance of building a community with 1000 true fans. This article should be the foundation of all your efforts.<\/span><\/div>\n<h4><span style=\"font-weight: 400;\">Why building a community is the single most important step<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">If the tokens you created are the <\/span><b>supply<\/b><span style=\"font-weight: 400;\">, the community that believes in your coin is the <\/span><b>demand<\/b><span style=\"font-weight: 400;\">. And the higher the demand to obtain a cryptocurrency, the higher its price.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">One great example of this is a cryptocurrency called <\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/bomb\/\"><span style=\"font-weight: 400;\">BOMB<\/span><\/a><span style=\"font-weight: 400;\">. The unique selling point of this cryptocurrency is its ability to \u201cself-destruct\u201d, which means that whenever you want to send BOMB to someone, a small part of it is destroyed forever.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It\u2019s founder, Zachary Dash, worked as a moderator in the popular online crypto community \u201cCrypto Coin Trader\u201d for a couple of years before he started his project. In this timeframe, he <\/span><b>established the trust of the community<\/b><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Then, when the market started showing clear signs of recovery, he offered to give free BOMB tokens (through an <a href=\"https:\/\/paybis.com\/blog\/glossary\/what-is-an-airdrop\/\" target=\"_blank\" rel=\"noopener noreferrer\">Airdrop<\/a>) to anyone who wished to be part of the project. At least 1000 true fans believed in the coin\u2019s potential and chose to participate.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Within one month, the coin saw a massive increase in value, jumping from $1.13 to $13.44. This clearly shows the importance of having a community that believes in your project. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">You can read more about the story of BOMB <\/span><a href=\"https:\/\/medium.com\/swlh\/14-things-we-learned-creating-a-million-dollar-hyperdeflationary-currency-f372b270469c\"><span style=\"font-weight: 400;\">here<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">So, how do you get started building a fan-base? I know that CCT is still looking for new moderators. However, I believe it&#8217;s best to <strong>diversify<\/strong> among channels where your target group already hangs out.<\/span><\/p>\n<h4><span style=\"font-weight: 400;\">Utilize Crypto Twitter<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Ever heard of Crypto Twitter? This is the corner of Twitter where everyone talks about Bitcoin and other cryptocurrencies.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The influence that Twitter has had over cryptocurrencies is massive! If you were following influential crypto celebrities on Twitter during the latest bull market, you most likely made a ton of profits.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">When new crypto projects realized this, rumor has it that they tried to purchase many popular Twitter channels for huge sums of money. Once again, they chose to purchase an existing community instead of building their own.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Instead of doing this, you might want to start small, by creating quality content and having actual people retweet it. This is hard, don\u2019t get me wrong, but the first followers are always the hardest ones to get.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">After you have a handful of fans (say 100-200), you can start running giveaways of your own token, much like Binance, Crypto.com and Tron are currently doing.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This new trend has seen their channels increase in popularity and puts them, and their coins, on the map.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Later on, when your channel has managed to amass a few thousand subscribers, you may even consider cross-promotion with other channels or paid promotions with crypto celebrities. This, of course, will depend on your available budget.<\/span><\/p>\n<h4><span style=\"font-weight: 400;\">Join and participate in Facebook groups<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">As aforementioned, gaining credibility and trust often starts by putting yourself out there. Helping people, sharing your opinion, and generally having an online presence.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><strong>Facebook groups are great for that<\/strong>. A good practice here is to tap into existing communities instead of creating a new one, at least in the beginning. Consider joining and becoming an active member of the following Facebook communities:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/www.facebook.com\/groups\/218612071968287\/\"><span style=\"font-weight: 400;\">Crypto Coin Trader<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/www.facebook.com\/groups\/CCInvestingCommunity\/\"><span style=\"font-weight: 400;\">Cryptocurrency investing<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/www.facebook.com\/groups\/cryptotraderspro\/\"><span style=\"font-weight: 400;\">Crypto traders<\/span><\/a><\/li>\n<\/ul>\n<h4><span style=\"font-weight: 400;\">Use Telegram for customer support<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Telegram is a great way to let your community know what you are up to. The channel is mostly used for customer support purposes, as people often join the chat to get information regarding your project.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Telegram has two options &#8211; creating a <\/span><b>channel<\/b><span style=\"font-weight: 400;\"> and creating a <\/span><b>group<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<ul>\n<li><b>Channels<\/b><span style=\"font-weight: 400;\"> are meant to \u201cchannel out\u201d information. They do not allow members to participate in conversations. In essence, it is a database of your previous updates or announcements.<\/span><\/li>\n<li><b>Groups,<\/b><span style=\"font-weight: 400;\"> on the other hand, is where you will need to pay more attention to. These are chat boards. Members of your group will ask questions and make conversations, and you (as a moderator) will be able to help them out.\u00a0<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Depending on the size of your project you may want to hire additional moderators as well. Ideally, you\u2019d want to choose a member of your existing audience and reward him with your new token.<\/span><\/p>\n<p>You might be thinking that this is way too specific and not necessary when looking at the high-level tasks on how to create a cryptocurrency. But remember that communication is key and expected from all potential investors.<\/p>\n<h4><span style=\"font-weight: 400;\">Medium\/Quora content helps too<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">While not your primary channel, Medium and Quora should also be used to increase awareness. And no, I don\u2019t mean creating new blog posts. You can always host these on your own website.<\/span><\/p>\n<p><b>What you want to do here is leave comments<\/b><span style=\"font-weight: 400;\">. Many of them. Every single day!<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">When it comes to <\/span><b>Quora<\/b><span style=\"font-weight: 400;\">, search for questions that your target group might have and provide valuable answers. When your answer starts ranking, you can always edit the comment and add a link to your website or whitepaper.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">With <\/span><b>Medium<\/b><span style=\"font-weight: 400;\">, you can leave high-quality comments under popular posts that are relevant to your target group. Search for topics related to new cryptocurrencies, altcoins, and profitable investment opportunities. It is best to invest in a premium membership (only $50 per year) to be able to access all posts, and thus have more options to choose from.\u00a0<\/span><\/li>\n<\/ul>\n<div style=\"padding: 13px; text-align: center; background-color: #a4a7e3; border-radius: 30px; margin: 3%; color: #fff !important;\">Start by leaving 5 comments on Quora and 5 comments on Medium every single day, and scale your efforts later on.<\/div>\n<h4><span style=\"font-weight: 400;\">Be a guest at crypto podcasts<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Cryptocurrency podcasts are increasing in popularity. It almost seems like every community has its own dedicated show. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The problem with most of these shows, however, is their inability to find interesting guests.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Take the initiative and create a spreadsheet with all the crypto podcasts that have at least 300-400 listeners. An easy way to do this is by searching through Spotify or Soundcloud.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Then, craft personalized emails and reach out to the hosts. Talk about your currency, the story behind it, and what you wish to achieve with it. While there is no guarantee that this strategy will lead to an opportunity, it\u2019s always worth testing it.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you manage to get a couple of shows, you will have even more leverage when reaching out to other, larger crypto podcasts.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Start by exploring <\/span><a href=\"https:\/\/thenextweb.com\/hardfork\/2018\/12\/29\/blockchain-cryptocurrency-podcast\/\"><span style=\"font-weight: 400;\">the following<\/span><\/a><span style=\"font-weight: 400;\"> crypto podcasts.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Visiting conferences and events<\/span><\/h3>\n<p><picture class=\"attachment-pinterest\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-3029\" src=\"https:\/\/paybis.com\/blog\/wp-content\/uploads\/2020\/01\/bh-1024x534.png\" alt=\"how to create a cryptocurrency\" width=\"1024\" height=\"534\" srcset=\"https:\/\/paybis.com\/blog\/wp-content\/uploads\/2020\/01\/bh-1024x534.png 1024w, https:\/\/paybis.com\/blog\/wp-content\/uploads\/2020\/01\/bh-300x156.png 300w, https:\/\/paybis.com\/blog\/wp-content\/uploads\/2020\/01\/bh-150x78.png 150w, https:\/\/paybis.com\/blog\/wp-content\/uploads\/2020\/01\/bh-768x400.png 768w, https:\/\/paybis.com\/blog\/wp-content\/uploads\/2020\/01\/bh-1536x800.png 1536w, https:\/\/paybis.com\/blog\/wp-content\/uploads\/2020\/01\/bh-2048x1067.png 2048w, https:\/\/paybis.com\/blog\/wp-content\/uploads\/2020\/01\/bh-1170x610.png 1170w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><a href=\"http:\/\/pinterest.com\/pin\/create\/button\/?url=https%3A%2F%2Fpaybis.com%2Fblog%2Fhow-to-create-a-cryptocurrency%2F&media=https%3A%2F%2Fpaybis.com%2Fblog%2Fwp-content%2Fuploads%2F2020%2F01%2Fbh-1024x534.png&description=How+To+Create+A+Cryptocurrency+-+Ultimate+A+to+Z+Guide\" class=\"pin-it-button\" target=\"_blank\"><svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M12.289,2C6.617,2,3.606,5.648,3.606,9.622c0,1.846,1.025,4.146,2.666,4.878c0.25,0.111,0.381,0.063,0.439-0.169 c0.044-0.175,0.267-1.029,0.365-1.428c0.032-0.128,0.017-0.237-0.091-0.362C6.445,11.911,6.01,10.75,6.01,9.668 c0-2.777,2.194-5.464,5.933-5.464c3.23,0,5.49,2.108,5.49,5.122c0,3.407-1.794,5.768-4.13,5.768c-1.291,0-2.257-1.021-1.948-2.277 c0.372-1.495,1.089-3.112,1.089-4.191c0-0.967-0.542-1.775-1.663-1.775c-1.319,0-2.379,1.309-2.379,3.059 c0,1.115,0.394,1.869,0.394,1.869s-1.302,5.279-1.54,6.261c-0.405,1.666,0.053,4.368,0.094,4.604 c0.021,0.126,0.167,0.169,0.25,0.063c0.129-0.165,1.699-2.419,2.142-4.051c0.158-0.59,0.817-2.995,0.817-2.995 c0.43,0.784,1.681,1.446,3.013,1.446c3.963,0,6.822-3.494,6.822-7.833C20.394,5.112,16.849,2,12.289,2\"><\/path><\/svg><\/a><\/picture><\/p>\n<p><span style=\"font-weight: 400;\">Once you establish an online presence, and you have at least some followers, you can start looking at networking opportunities for additional exposure.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Not only will such opportunities help you with online cross-promotion, but they will also increase your authority in the crypto world.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The best way to do this is by visiting some of the most popular cryptocurrency conferences.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Now, don\u2019t get me wrong &#8211; these are not meant for everyone. It is a great option for those who want to take their efforts one step further and are willing to pay the price for it.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Most crypto conferences cost between $400-$1200 to attend. But if you manage to play your cards right, you will get many new opportunities and potential investors.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">We have created a list with some of the most popular events in the crypto industry. Make sure you check them out by reading <\/span><a href=\"https:\/\/paybis.com\/blog\/best-blockchain-conferences\/\"><span style=\"font-weight: 400;\">this article<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Chances are, you will find at least one event that is close to your location and is worth attending. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">This is also a great way to find pre-sale investors that might be willing to offer a significant amount of money in exchange for a discounted token price.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">The token sale<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">This is the moment you have been waiting for the most. If you managed to follow the steps above you should have created a community that can\u2019t wait to get their hands on your cryptocurrency. Now it&#8217;s time to give them the opportunity to buy your token.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">And the way to do so is through an initial token sale.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A few years back, this would probably be the easiest thing to do, since people were investing in practically every new cryptocurrency that had a promising whitepaper.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Nowadays, however, things are different. Investors are smarter and regulations are tighter.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here are the steps you need to follow to ensure a successful token sale:<\/span><\/p>\n<h4><span style=\"font-weight: 400;\">Make sure you have all the legal requirements to get started<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">You are dealing with investors\u2019 money. As such, you should educate yourself on your local laws and regulations when it comes to selling a new cryptocurrency.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Due to the fluctuating regulations and the different legal requirements of each country, it is best to consult a lawyer who specializes in the subject. The best way to find correct legal information is by taking the following approach:<\/span><\/p>\n<p><b>1st Step:<\/b><span style=\"font-weight: 400;\"> Research whether other cryptocurrency projects have previously hosted an ICO or <a href=\"https:\/\/paybis.com\/blog\/glossary\/what-is-an-ieo\/\" target=\"_blank\" rel=\"noopener noreferrer\">IEO<\/a> in your country\/state in the past.<\/span><\/p>\n<p><b>2nd Step:<\/b><span style=\"font-weight: 400;\"> Reach out to them and kindly ask them to provide you with information about their legal procedures<\/span><\/p>\n<p><b>3rd Step:<\/b><span style=\"font-weight: 400;\"> Consult with the legal party\/parties that they used to successfully host their token sale.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">And that\u2019s it. This process should be prioritized as it can take longer to finalize. It is best to start searching for legal help right after your token is created.<\/span><\/p>\n<h4><span style=\"font-weight: 400;\">Sell your tokens via ICO or IEO<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">If you meet all the legal requirements, you can proceed to the token sale. In this step, you will have to choose between the two selling models.<\/span><\/p>\n<p><b>IEOs<\/b><span style=\"font-weight: 400;\">, or Initial Exchange Offerings are token sales that are hosted on an existing cryptocurrency exchange. <\/span><\/p>\n<ul>\n<li><span style=\"text-decoration: underline;\"><span style=\"font-weight: 400;\">Pros:<\/span><\/span><span style=\"font-weight: 400;\"> You will tap into an existing community, your token will be traded on the exchange after the sale, it increases trust with potential investors. Also great if you don&#8217;t know how to create a cryptocurrency buzz.<\/span><\/li>\n<li><span style=\"text-decoration: underline;\">Cons:<\/span> You will likely need to give a large part of your tokens and a hefty sum of money to the platform that hosts the IEO.<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\"><strong>ICOs<\/strong> are the old-school model of selling tokens. This option is best if you have managed to build a truly strong community and know that there is a serious interest in your tokens. It is also a great way for an already popular business to introduce a tokenized product.<\/span><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\"><span style=\"text-decoration: underline;\">Pros<\/span>:<\/span><span style=\"font-weight: 400;\"> It\u2019s free to use, you don\u2019t depend on other parties, it could help you raise more money, you can place your tokens on Decentralized Exchanges immediately after the sale.<\/span><\/li>\n<li><span style=\"text-decoration: underline;\">Cons:<\/span> It\u2019s not a trustworthy selling model, you depend solely on the community you have built, there is no guaranteed placement on liquid exchanges.<\/li>\n<\/ul>\n<div style=\"padding: 13px; text-align: center; background-color: #a4a7e3; border-radius: 30px; margin: 3%; color: #fff !important;\"><span style=\"font-weight: 400;\"> A third, and less talked about method, is to skip the token sale and simply airdrop your tokens to members of your community. Much like BOMB, this will instantly put your coin in circulation and could potentially increase the price of your token a lot faster.<\/span><\/div>\n<p><span style=\"font-weight: 400;\">Overal, and to increase your chances of success, <\/span><b>it is best to pursue an IEO listing<\/b><span style=\"font-weight: 400;\">. While you may need to give up a part of your tokens, you will have a guaranteed exchange listing.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">A note on exchange placement(s)<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">If you rather go with an ICO, there are many different ways you can explore to get an exchange listing. Additionally, even IEO token sales would benefit from multiple exchange listings.<\/span><\/p>\n<h4><span style=\"font-weight: 400;\">How to find free listing opportunities<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">If you built an ERC20 token, you can start by listing it<\/span><b> for free<\/b><span style=\"font-weight: 400;\">, on <a href=\"https:\/\/paybis.com\/blog\/glossary\/what-is-a-dex\/\" target=\"_blank\" rel=\"noopener noreferrer\">Decentralized Exchanges<\/a>. Here are a few platforms you can reach out to right now:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/docs.google.com\/forms\/d\/e\/1FAIpQLSfzF_NTscqqK4TPuJQixe4tZCEJHDVJdTLvNelb_V2D582RVg\/viewform\"><span style=\"font-weight: 400;\">Free listing on IDEX<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/etherdelta.com\/\"><span style=\"font-weight: 400;\">Free listing on EtherDelta<\/span><\/a><span style=\"font-weight: 400;\"> (Go to <\/span><i><span style=\"font-weight: 400;\">Tokens<\/span><\/i><span style=\"font-weight: 400;\"> -&gt; <\/span><i><span style=\"font-weight: 400;\">Other<\/span><\/i><span style=\"font-weight: 400;\"> -&gt; Enter the info of your token)<\/span><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/tokenmint.io\/blog\/how-to-list-your-custom-erc20-token-to-uniswap.html\"><span style=\"font-weight: 400;\">UniSwap placement<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Free listing on token.store<\/span><span style=\"font-weight: 400;\"> (You need to have a <\/span><a href=\"https:\/\/metamask.io\/\"><span style=\"font-weight: 400;\">Metamask<\/span><\/a><span style=\"font-weight: 400;\"> extension)<\/span><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/tokenmarket.net\/services\/list-your-token-in-exchange\/\"><span style=\"font-weight: 400;\">Free listing on Tokenmarket<\/span><\/a><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">After you manage to get as many free listings as possible, you can start researching paid listing opportunities. These can further increase your exposure.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Final Step: Listing on CoinMarketCap<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">If you follow the steps above, you should be able to get a listing on CoinMarketCap!<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In order to list your token, the platform will consider different factors, starting from technical characteristics, all the way to community requirements.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Once you are ready, you can start by filling out their <\/span><a href=\"https:\/\/support.coinmarketcap.com\/hc\/en-us\/requests\/new?ticket_form_id=360000493112\"><span style=\"font-weight: 400;\">official listing form<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Allow a couple of weeks to pass by before you follow up for an answer. CMC is listing many coins on a daily basis, but the waiting list is quite big. As such, patience is the key to success.<\/span><\/p>\n<div style=\"padding: 13px; text-align: center; background-color: #a4a7e3; border-radius: 30px; margin: 3%; color: #fff !important;\"><span style=\"font-weight: 400;\"> To be considered for listing, your coin should be placed at least in <\/span><span style=\"color: #000000;\"><a style=\"color: #000000;\" href=\"https:\/\/coinmarketcap.com\/rankings\/exchanges\/\"><span style=\"font-weight: 400;\">one of CMC\u2019s listed exchanges.<\/span><\/a><\/span><\/div>\n<h2><span style=\"font-weight: 400;\">Summing up<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">That\u2019s it! You now know how to start a cryptocurrency and turn your project into a success. To review, let\u2019s take a look at the points we discussed:<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Create your coin or token<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Set up a strong team<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Build your website (interface)<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Create the whitepaper<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Build a community<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Visit crypto conferences and events<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Host the token sale<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Placing on cryptocurrency exchange(s)<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Listing on CoinMarketCap (CMC)<\/span><\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">From that point onwards, you should have sufficient funds to grow your team and build your actual product\/service. Remember that this is simply the beginning of a long journey and you need to be prepared for the long haul.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">We hope you found value in this article and are looking forward to your thoughts and comments. And how you are still wondering how to create a cryptocurrency, or have specific questions that you want to ask the author, please reach out to <a href=\"mailto:blog@paybis.com\" target=\"_blank\" rel=\"noopener noreferrer\">this email address<\/a>.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In this post, we will walk you through the steps that you need to follow if you are wondering how to create a cryptocurrency. Each chapter will lead to expert resources and contains lots of information, so you might wanna save this article and come back to it for future reference. The exciting world of [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":3716,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[8,43,50,132],"tags":[198,199,220],"businesses_tag":[],"class_list":["post-3164","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-educational-guides","category-analytical-guides","category-general-discussion","category-individuals","tag-tips","tag-education","tag-blockchain"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How To Create A Cryptocurrency - Ultimate A to Z Guide - Paybis Blog<\/title>\n<meta name=\"description\" content=\"Are you wondering how to create a cryptocurrency? 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