Launching You Own Cryptocurrency is Simple!

January 23, 2018 by Adrian Thorpe

Launching You Own CryptocurrencyThere is nothing stopping anyone who does wish to launch a cryptocurrency doing so, and whilst you may think it would involve lots of expense, a great deal of time and effort and a full and deep understanding of the crypto currency environment, nothing could be further than the truth!

As the source code of both Bitcoin and Ethereum is readily available, it is very easy for you to design and then launch your own digital currency, if fact Ethereum for example allows you to do just that once you have downloaded their wallet.

When you do so you will for all intents and purposes be piggy backing on the Ethereum blockchain, however by doing so you will of course be using a tried and tested system and one that is trusted by a great deal of people.

For any cryptocurrency to become successful  these days with so many of them now readily  available, you do of course need to find something of a niche market or business sector that will warmly embrace your digital currency and will want to use it.

The simple fact that anyone is able to set up their own digital currency with relative ease does of course mean there will always be a steady supply of new ones being launched, the majority of which are never going to take off and will be offering no real value, and will certainly not offer any type of long term investment opportunities.

Just keep that in mind if you are looking around for a potential investment, for you are going to come across more than enough digital currencies that have only been set up to make money for the founders of that digital currency!

Dogecoin Launched as a Joke!

You may or may not have heard of Dogecoin, it is, at the time of compiling this news article, the 40th largest cryptocurrency by value, which a market capital of some $771,784,893, it is still a relatively low cost cryptocurrency to buy being worth $0.006837 and there are some 112,881,742,908 DOGE tokens in circulation.

Dogecoin was an ideal example of someone starting up their own digital currency, and when it launched it was done so as something of a joke, to prove that even the wackiest ideas in regards to a digital currency could be embraced by users and investors alike.

The logo do Dogecoin is a cute dog of course, and for reasons unknown after it had launched it really did catch the imagination of a lot of people and looking at its market capital you can see why it is a digital currency that is being taken seriously!

Its main use is as a digital currency that is used as a tipping type of service and one which users can leave Dogecoin tips to content makers who have written articles or even who have filmed YouTube type videos, and as such many content writers and YouTube Channels are actively promoting it as a digital currency!

The Cryptocurrency Market Place is Swamped

If you are beginning to warm to cryptocurrencies yourself, then be aware that there are always going to be plenty of them available, the most commonly used ones are of course Bitcoin, Ethereum and Ripple.

However, one thing you will notice when you take a look at the price of a single unit of each of those three digital currencies is a huge difference in their value!

This morning for example a single full unit of Bitcoin would cost you $10,912, and single full unit of Ethereum would cost you $996.17 and Ripple would cost you just $1.33, and as such there is certainly going to be one of those three cryptocurrencies that will suit your budget if you do wish to buy into any of them.

Just ensure that you do not believe the hype of some of the other digital currencies that are being launched or recently have launched, for whilst some of them are being taken seriously by both users and investors there are some that are never going to take off.

If there is one thing that is keeping all digital currencies afloat at the minute it is the fact the vast majority of people do not have a clue about how they work and their main purpose, and many people are blindly investing in all manner of different digital currencies in the hope they can replicate the financial success of those people who initially invested in Bitcoin several years ago when that cryptocurrency first launched.