What is the process to Create Cryptocurrency for ICO

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I want to know the process to create my own cryptocurrency for ICO. Is it necessary to create my own wallet and exchange also for this? I have read that the process is as follows:

  1. Go to Ethereum.
  2. Create 100M Coins
  3. Call them "Sam Coin" (or whatever you want to name them)
  4. You than make a "Pre ICO"
  5. You than market your idea.
  6. You than issue your coin to those who send you money because they are investing in your idea...

Now in step 6, should I issue the coins manually?

Jul 25, 2018 in Blockchain by digger
• 26,740 points

1 answer to this question.

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No, you don’t have to issue the coins manually. When you create your own coins, the smart contract will take care of the “issuing coins” part. (Visit https://www.ethereum.org/token to know more)

The process for the smart contract is as follows:

  1. You write the smart contract and deploy it
  2. Your investors send Ether to the smart contract during the ICO period
  3. The smart contract releases the tokens to them automatically through the code you have written

And creating a wallet for your coin or not is completely left to you and the functions. But in most cases you will need a developer to write the code for smart contract.

answered Jul 25, 2018 by slayer
• 29,350 points

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