What is an Altcoin and How to Create Your Own Altcoin for Your Cryptocurrency Business?

  • An Altcoin is a cryptocurrency similar to Bitcoin which is developed for a specific purpose.
  • Altcoins aren’t influenced by volatility factor.
  • Altcoins are usually built on Ethereum standards, you should pick the right one for developing your own Altcoin.

As cryptocurrencies are becoming increasingly popular in recent days. In addition to Bitcoins, Altcoins such as Ethereum, NEO, Litecoins, Dogecoins, etc have gained crucial importance. This has made most of the crypto enthusiasts to develop their own Altcoin of their desired preferences. This article describes the way in which you can create your own Altcoin in a hassle-free manner.

What is an Altcoin?

Initially, let me explain what an altcoin is. An Altcoin is a cryptocurrency similar to Bitcoin which is developed for a specific purpose. Similar to Bitcoins, Altcoins are also getting a huge response with its quality factors.

When it comes to the difference between both of them, here are the ones:

  • Transaction Speed
  • Mining Speed
  • Hashing
  • Distribution Method

The major reason why people are looking to create their own Altcoin is:

  • Altcoins aren’t influenced by volatility factor
  • No risks involved
  • Instant Transactions
  • Low Fees
  • Easier access
  • Anonymous & protected

How to create your own Altcoin?

In order to create your own Altcoin, here are the major steps involved:

1. Initially choose the type of platform where you are going to develop your Altcoin. Since they are built on Blockchain platform, you need to choose any of the ones:

  • Existing Blockchain Platform
  • Building a New Blockchain Platform
  • Choosing the third-party

Creating an Altcoin 

2. You need to choose the type of ERC standard. Altcoins are usually built on Ethereum standards, you should pick the right one for developing your own Altcoin. The most preferred ones are ERC20.

3. Get started with developing your own Altcoin in accordance with your own business requirements. You can hire an Altcoin Development Company in this case which can provide you with the feasible solutions you are expecting for.

4. Figure out the investors who can buy your Altcoins to make you profitable. Since launching an Altcoin can cost you much, you can find out the relevant investors who can invest in your project.

Where to get an Altcoin developed?

You can develop your own Altcoin with Icoclone, the best-in-class solution provider. We have assisted 50+ entrepreneurs to launch their own Altcoins with minimal efforts. If you are one such person looking to develop your own Altcoin, get in touch with us!

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Ronon Margo

Hi, I'm Ronon Margo, Crypto Writer at Icoclone. I love to share my ideas & thoughts on Blockchain & Cryptocurrency in a simple & readable manner. You can find me doing nothing when I'm not involved in writing.


https://www.icoclone.com

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