How to create your own cryptocurrency? Simple guide

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With the development of blockchain technology, more and more people are wondering how to create their own cryptocurrency.There are a few basic ways to do this.

Cryptocurrencies can be divided into two large subcategories – coins and tokens.Although both of them are cryptocurrencies, there is a difference between a coin and a token. 

The coin operates on its own blockchain, where transactions take place.If you want to create your own digital coin, you need to create your own blockchain first.

Tokens are often used as smart contracts, representing everything fromphysical objects to digital services. 

The most popular example is ERC20 tokens, which use the Ethereum (ETH) blockchain.

It is much easier to use a ready-made platform than your own.it saves you.a lot of time and money, and also allows the team to assess the potential of the project before investing more in the creation of their own blockchain.

The table shows the pros and cons of creating coins or tokens:

How to Create a Token on Your Own?

The basis of any token isSuch code can be created from scratch or copied from an existing cryptocurrency and redesigned.

Today there is aA number of popular solutions that are easy to use and allow you to create tokens on various networks.

1. Ethereum is the first blockchain to offer the service of creating ERC-20 tokens.
2. NEO givesthe ability to create a NEP-5 token.
3. EOS – offers a standardEOSIO.
4. The World Exchange is a service from Ripple. 
5. Hyperledger Fabric is a framework fromLinux Foundation for the creation of smart contracts and cryptocurrencies.
6. Exonum is an open-source framework for building blockchain-based applications.
7. WAVES is a Russian blockchain platform for the development of digital coins other thanERC20 standard.

The main aspects of creating a new cryptocurrency with Ethereum, NEO and EOS.

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How to create a new cryptocurrency?

In this case, you will need more technical knowledge, because it is more difficult to create your own cryptocurrency with your own blockchain than to create a simple Ethereum token.

In doing so, the process can take a few minutes if you simply copy the code of an existing asset, such as bitcoin, and simply add or change the variable.However, even this requires some technical knowledge.

Another similar option is to fork an existing cryptocurrency.the original cryptocurrency, but creating something else in the process (as opposed tochanges to a single variable).

Creating your own cryptocurrency with your own blockchain is a much more difficult task.To do this, you need technical expertise.

If you need help, pay the experts

It might be worth paying the firm that will create cryptocurrency for you.Wallet Builders is an example of a company that provides paid cryptocurrency creation services.

Although the creation of your own ERC20 token or even a fork of Bitcoin canNot being a very difficult task, creating a worthwhile product is something else entirely.

For example, bitcoin itself was built on past efforts of predecessors such as b-money and bit gold.After the launch he received a great deal of support from his community, and thisthe process continues to this day.

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