How do I create my own coin? And should I? - Crypto in Plain English - Episode 184 - by cryptohunt.it

How do I create my own coin? And should I?

Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english.

How do I create my own crypto coin, and should I? Today, let's look at it: Is that possible? And is it worth it?

Yes, it is absolutely possible! Anyone can do it nowadays. So let's talk about the reasons you'd want to, how to do it, and why it's probably not worth it.

There are a few reasons people want to mint their own token. It could be just to learn, for fun, or because they hope it'll be worth something one day.

Well, let's say: You just feel like it - a fun project to teach you something new. There are a few steps to jump through.

You see, your own coin is basically a computer program on the blockchain. You could write it yourself, or copy a template and fill in the blanks. But you can also easily Google many tools that get this done for you if you want to take the easy route.

And that leads us to the next topic; Anyone can practically do this now. There are 10,000 traded coins alone that have some sort of market value, and yours isn't even among them. It's very unlikely your coin will be worth something, especially if there is nothing different about it. So you’re not really doing it for the money. On top of that, fees for some blockchains. Those can be tremendous, easily in the hundreds of dollars.

But you may decide that you can’t go wrong learning something, and we’d be with you on that one. So: A fun project to dig deeper into blockchains, or a colossal waste of money? You decide.

Disclaimer: This podcast references our opinion and is for information purposes only. It is not intended to be investment advice. Do your own research and seek a duly licensed professional for investment advice.