Want to learn how to make your own cryptocurrency? It’s not unheard of, and there are resources online showing how others have approached home-grown cryptocurrency. But there is a big difference between starting your own currency and creating your own token. That difference?
Creating a token uses someone else’s blockchain, whereas building your own cryptocurrency requires its’ own blockchain.
For the purposes of this article, we focus on creating a new currency rather than a token. That is a procedure we’ll examine in a future article. There are two basic issues standing in the way of some who are interested in learning how to make your own cryptocurrency; one legal, one is technical.
Is cryptocurrency an investment? Some think that is a dumb question, but there is a big difference between a traditional type of investment and a different type of investing known as speculation. What you don’t know can definitely hurt you in both worlds–do you know the difference?
I have a family member who was badly burned by a lack of understanding about the rules of investing. This person lost roughly $20 thousand because they did not fully comprehend the rules of online trading, especially where investment behavior that looks like day trading is concerned.
A year or two after this incident, I got interested in investing myself–the same kind of investing my family member was involved in. I purchased six different books trying to learn about the ins and outs of online trading–especially day trading and related issues. But I could not find any rules that addressed the issues that led to my family member’s financial loss.
Where are the countries that banned cryptocurrency? Bitcoin made digital history when it debuted in 2009, and since that time many international lawmakers have struggled with whether to accept or ban cryptocurrency.
Since cryptocurrency is not issued or regulated by a central authority, it is essentially the type of currency that is accepted wherever it is considered valuable. Some companies offer digital goods and services in exchange for certain types of online currency, others may even permit Bitcoin and others to be used for the purchase of tangible goods.
But not in countries where the practice of using or distributing cryptocurrency is illegal.
Cryptocurrency security is incredibly important. Are you interested in investing in currency such as Bitcoin or Ethereum? These and other options have a high appeal to those looking for opportunities to digitally invest. But there is plenty of Wild West-style lawlessness in the digital realm to accompany legitimate investment opportunities. How can a new investor tell the difference and avoid being scammed?
Like any kind of other investing, a lack of information and/or experience is potentially costly. If you don’t know the rules, or if you don’t have any experience with how things are done with legitimate trading or investing you could be in for a series of expensive lessons.
For THIS author, learning the rules of trading felt difficult enough, but when I started learning how crypto scams work, it became obvious that a little knowledge could help me save a lot of money by avoiding certain kinds of hype and ignoring promises of incredible returns.
How do consumers get free cryptocurrency? Are you interested in Bitcoin or other cryptocurrency but are nervous about using your credit card or bank account to purchase it? There are plenty of scammers and hackers trying to harvest this digital currency and it’s not surprising that some are a bit gun shy about exposing their account data in a world they don’t fully understand.
Fortunately, there are ways to earn free cryptocurrency and avoid using your own funds to buy in the earliest stages of your research into digital money.