Can you create your own cryptocurrency and make money?
Anyone can create a cryptocurrency, but the process requires commitments of time, money, and other resources, in addition to advanced technical knowledge. The main options are creating your own blockchain, modifying an existing blockchain, establishing a coin on an existing blockchain, or hiring a blockchain developer.
How much money do I need to create a cryptocurrency?
If you’re just looking to create a simple cryptocurrency coin, then the cost will be relatively low. However, if you want to create a more complex application or service, then the cost will be higher. On the high end, Developcoins says that the development of crypto costs around $10,000-30,000.
How long does it take to create a cryptocurrency?
The process takes as long as 5 to 20 minutes for those who use automated tools. Outsourcing development work speeds the process along but adds to the overall costs. Creating a new cryptocurrency from scratch takes anywhere from one to six months, but it depends on how complex the blockchain and coin are.