How to create “shitcoin”
It seems that today, literally everyone, from those who want to quickly cut the dough to outright scammers, are trying to take advantage of the thriving, but unregulated cryptocurrency market.
So why don’t you try? Creating cryptocurrencies is no longer the prerogative of programmers and blockchain specialists. Nowadays, everyone can do them! Even you.
Although there are many platforms that make coin creation ridiculously easy, today we are going to use the Waves platform.
However, let’s make it clear right away: Waves is not a “shitcoin” and is not a platform for creating a “shitcoin”, and many of the coins created on the basis of Waves are quite legitimate.
We want to emphasize this especially. The Waves team makes a lot of efforts to make blockchain technology more accessible to the average person.
Based on the foregoing, you can create your own Waves-based coin in less than 15 minutes, and it will cost you only $ 10. This is a real gift and curse of this platform.
Create a Waves Account
Let’s start with the simplest, for this, follow the link in the Waves Online Client.
Two options are currently available, but I recommend trying the beta. For beta, it is easy to use and has almost no bugs.After clicking the “Get Started” button, select an avatar and set a strong password.
You will not be able to change your profile picture in the future, so choose with all responsibility. Our avatar looks exactly like us and we really like it.
After you set up your account, you will be given the opportunity to back it up.
This is what will come in handy if you are going to deceive thousands of people by depriving them of money during an ICO.
Keep your 15-word passphrase in a secret and safe place.
… Or write it on a sticker next to the computer.
Enter your passphrase in the appropriate field, click continue, and you’re done!
More precisely, almost done. Waves will force you to go through some kind of bizarre legalization procedure before allowing you to move on.
Do not waste your time studying boring details, we are going to create a “shitcoin”. Just blindly click on all the checkboxes and click “Confirm and start.”
Put money in your account
Now you are in business. Creating a coin on the platform costs 1 WAVE. If you already own WAVE, even better!
You just need to sacrifice some potential profit in favor of your “shitcoin”.
If not, you will have to transfer a certain amount and exchange it for WAVES in their decentralized exchanger. There are many ways to do this, but I recommend transferring Bitcoin, Ethereum, Litecoin or Zcash.
Dollars and euros are also available, but require an identity verification procedure. This is a great option if you want to leave documentary traces of your fraudulent ICO.
After transferring funds, go to the exchange and exchange them for at least one WAVE amount necessary to pay for the creation of a coin.
The creation of “shitcoin”
Now the fun begins. When creating your coin, the WAVES platform performs all the heavy routine operations, but you still control some of the characteristics, and most importantly, the name.
You want to give your coin an interesting name. Let it symbolize the future or flight to the moon. You are not mistaken in choosing something like Apollo or Quantum.
Next, add some interesting description to your coin. Be sure to write a lot of big words, such as “revolutionary”, “immutable registry” and “blockchain 3.0“, because version 2.0 was already in 2017.
After that, indicate the total number of tokens. In this case, the principle “the more the merrier” works.
Say you want to raise $ 100 million. You can sell either 1 billion coins at a price of $ 0.10 each, or 1 million coins at $ 100.
When your brainchild grows to $ 10,000 and overturns Bitcoin, you will understand that you had to start with $ 0.10.
And think about it from the point of view of the people you are deceiving, the participants in your ICO. Which would you prefer: spend $ 10.00 to get 1/1000 coins or spend the same amount to get 100 coins? The answer is obvious.
You can also decide if your coin will be reissued or not. Honestly, this does not play any role whatsoever.
Finally, determine the number of decimal places your coin will have. Google has a great random number generator to help you with this.
To finish, click “Generate”, confirm your personal details and voila! You are now the owner of your very own “shitcoin”. However, the work is not finished yet.
Perhaps this is the most important part. What good is your own “shitcoin” if you do not promote it in every possible way?
First, create a website with some drag-and-drop engine like WordPress.
Then go to each forum, Reddit section, Facebook group, etc. In all these places, tell people that your “shitcoin” will be the next bitcoin.
The more you say it, the more they will trust you. You have to instill a kind of “loss of profit syndrome’ to people who will reproach themselves for missing a great opportunity.
Anyone trying to criticize you is just an old-fashioned moron.
There are many ways to collect contributions and distribute coins for ICOs.
You can place sell orders in Waves DEX, negotiate with a provider to sell them directly through your website, or simply promise investors that you will give them coins as soon as they pay you. The choice is yours.
“What about the documentation?” A great question … for a bore. In any case, no one reads them.
If you really want to have one, just copy and paste the different parts from several sources of your choice. All the tough guys do it.
And this will give you everything you need to create your own “shitcoin” and then run away with money after a successful ICO.
Thoughts in the end
This guide is intended to show how easy it is to create cryptocurrencies. In this market there are a lot of scammers and just nonsense.
Be sure to do your own thorough research before making any financial decisions.