Why Create Your Own Token?
Creating and launching your own cryptocurrency token or coin can be a very profitable venture if done properly. In fact it’s now one of the fastest ways to make money in the world today and many ordinary people have made hundreds of thousands of dollars by creating their own crypto coin.
It may surprise you to know that more than 10,000 new crypto coins are being created and launched into the crypto market every day.
But you only make money from it if it is done properly. If not it can lead to huge losses not only for the token creator but also for investors who bought the token.
Ways of Creating Tokens
There are two general ways or methods that you can follow to create your own token. These are:
- By Doing it yourself (DIY Method) or
- By joining a Token Launch Community (TLC)
These two ways come with their advantages and disadvantages.
In this article we will look at each method including their advantages and disadvantages.
Method 1: Doing it Yourself (DIY) Method
This requires you to do everything by yourself (or paying someone to do it for you). It usually requires a substantial amount of funds and some technical knowhow or computer programming knowledge.
Advantages of DIY:
- You have full ownership and control of the project (unless you renounce)
- All profits belong to you
- If the coin succeeds, you may become famous
Disadvantages of DIY:
- Can be expensive to do because it requires substantial investment in marketing and promotion (average of $3,000 and above)
- You may Need to pay a developer if you are not a programmer. (Payment could range between $1000 – $5,000 US Dollars)
- Higher risk of failure (unless you have a large budget to hire extra hands and resources)
Method 2: Joining a Token Launch Community (or TLC)
A token launch community or TLC is a large group of people who pool funds together to create their own community-owned tokens.
The way they mostly operate is in two key steps:
Step 1. The conveners of the community sell what are known as governance tokens as a way of raising funds and gaining new members. Anybody who buys the governance token becomes a member and part owner of the organization and all its projects as long as they hold the governance tokens in their wallet.
Step 2. After raising the required funds and reaching their target membership numbers, the community starts launching new tokens and crypto projects. For each new token launched, every member gets sent a free allocation of the newly launched token which they can then sell to make money or hold in expectation that the token’s value will rise.
Advantages of Token Launch Community Method
- It is far cheaper than doing it yourself because the only spending involved is the cost of buying the governance token of the community.
- They are Much easier, less demanding and less time consuming (because you don’t have to worry about the technical and management issues required for such a project). All you have to do is buy the governance tokens and just wait for any new launch to receive your free tokens. It is ideal for people with not much time on their hands or investors who want to diversify their portfolio.
- You get to be a part owner of several new tokens
- It is less risky (because of the marketing power of the large community, the risk of failure is low)
Disadvantages of TLC Community Method
- The main disadvantage is that you don’t have full ownership and full control, although many projects allow their governance token holders to vote on issues concerning the community and their projects.
- The other main disadvantage is that there are some scam communities where the conveners disappear after selling governance tokens. This is no longer much of a problem because there are now some well known and reputable webpages where you can get information about vetted and verified token launch communities which are not scams. Getting information from such trusted webpages virtually eliminates the risk of being scammed so if you must invest in a token launch community, get the info from a reputable webpage that lists current communities selling governance tokens at the moment.One of the most popular of these trusted reputable webpages is => https://crypto.ng4n.com/launches
Which is Better? DIY Method or Token Launch Communities?
Considering the relatively high costs and effort required to do it all by yourself, we can advice the following:
- If you are just a single individual or small group of individuals with limited funds and limited technical ability or limited time, it is better join a token launch community.
- If you are a big company with a large budget and many available staff and technical know-how, it is better go for the first method (DIY) method to create your token.
Conclusion and Recommendation
If you are looking for a reputable token launch community to invest in, you can visit the following trusted link to see a list of verified token launch communities who are currently selling governance tokens for membership at the moment and look for any affordable one to join.
Visit the link at https://crypto.ng4n.com/launches