While it isn't as difficult as you might expect,the real difficulties lie in maintaining it,convincing people it has a future,and getting people to use it.
Bitcoins spectacular rise in value over the past year has spurred hige amount of interest in digital currencies,and brown new altcoins are constantly being created.
There are hundreds of digital currencies in existence now, more than 80 of which was listed in the past month according to #coinmarketcap.
New bitcoin alternatives are likely to keep launching as it isn't as difficult as you might expect to create your own digital currency.
That's because there are dedicated cryptocurrency creation services out there,from the likes of #cryptolife,#wallet Builders and #coin creator.
They promise to carryout the technical work for you but,as coin creator notes,you need to have to have a precise idea for a project in mind,and display a level of interest and commitment that is "beyond idle curiosity".
Otherwise, you're highly likely to fail.The real difficulties,however,lie in maintaining you cryptocurrency, convincing people that it's actually worthwhile and has a future,and getting them to use it.
While you don't necessarily need to have coding skill to set your own digital currency up,they're vital when it comes to keep it going.
That requires serious effort.Dogecoin an #Altcoin that was originally created as a joke,has its own development team that is constantly working to keep the digital currency stable and secure,to protect users from hackers.
Crytocurrencies are a popular target for cyber criminals,and poorly protected systems will be more attractive to them than secured systems.
Though digital currencies have helped lots of people make money in a short amount od time,experts believes the bubble will burst in the near future.
The creator of dogecoin recently said it is " worring" that must conversation around digital currency focus on the investment potential rather than the underlying technology.
However, the investment potential is without doubt the boggest factor that's fuelling the creation of so many new digital currencies.
"I think it's relatively safe to label the current market as a 'bubble',although it's hard to predict how long before it inevitably bursts".
" my one hope is that when that does and people lose large sums of money,the negativity in the market doesn't stifle technological innovation or interest in digital currency from mainstream".
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