How to create your own multimillion dollar coin (for fun)

By beachbummer | CryptoBeach | 3 Sep 2019


Do note that this article is just for entertainment purposes and to give you the ego boost of owning a multimillion dollar coin in terms of market capitalisation (market cap).

You will first need to pick a platform for creating your coin. For cheap platforms to create coins, you can consider Waves or XLM. Click here for details on creating a coin on Waves. If you prefer to create on the Stellar platform instead, click here.

Once you have created the coin, you are already halfway there! The next, and last step, is to give a value to your coin so you can have a market cap value. Ask yourself, what is "market cap"? The formula is nothing other than price multiplied by circulating supply. If you created the coins on Waves or XLM, the coins are all fully minted and are considered to be fully circulated. How to get a price?

Simple! Just use the DEX features of Waves or XLM to do a trade. Depending on the features of the DEX, you might be unable to do a trade against yourself, so you might need a friend to help you out here. At the same time, give him a dollar. He will need it.

Place a sell order of 1 coin for $1 on the DEX and get your friend to buy it. You are now the proud owner of a multimillion dollar coin! If you had created 5,000,000 coins, market cap will be calculated using $1 x 5,000,000 = $5,000,000. Congratulations! Now go throw a party and buy that lambo.

Again, I stress that article is for entertainment purposes! Don't get too bothered if the steps don't work for you!

Do follow me if you enjoy my articles and feel free to leave comments! Please Do Your Own Research. This does not constitute as trading advice.

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beachbummer
beachbummer

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