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Altcoins

4 Things That Will Make An Altcoin Successful

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altcoin

Since the crypto craze began, there have been hundreds of altcoins that have emerged and attempted to take over the world of crypto with their advanced and innovative ideas. While these days there are well over 2,000 individual coins, there have been many more to emerge and disappear, all within the last 10 years.

Clearly, having an idea and launching the coin itself is not enough. While it is by no means easy to do so, there are additional measures and rules that you, as an altcoin creator, need to consider if you want your coin to remain relevant. Clearly, not every idea can succeed, and after 10 years, it is quite difficult to present something new. However, cryptos are still a new technology, which is why there are still many unexplored possibilities that may allow you to reach success.

Secrets to altcoin success

1. Capturing the attention

As mentioned earlier, there is not a lot of things that are simple when it comes to creating altcoins. However, while your plan and idea make sense to you, no matter how complex they end up being, this will not be the case with potential investors. Many of them might give up on getting involved if they do not understand what the coin is all about, or if the road ahead seems too complicated and unclear.

This is why having an idea is not enough. What you need to do is simplify it, at least in the beginning. Use only one short line as a hook that will attract people and leave the coin in their mind and memory. This is a strategy that has been used in advertising for ages, which means that it will work. In a way, the first step to launching a successful coin is to capture the short and fickle attention span of an investor.

2. Find a new angle

As mentioned earlier, cryptos have been constantly working on improving themselves and covering new things for an entire decade now. As time goes by, this process is speeding up. While many have recognized the flaws of original coins and altcoins, and have attempted to create new technology that will offer better solutions, this is a much more difficult road to follow.

If your aim is to launch a new altcoin, and not fix the old problems, you might want to try and find a new angle. In other words, strike out on your own, and search for ideas that have yet to be explored and approached. If you cannot beat the competition when it comes to advanced technology, the best you can do is to be original.

3. Do not lose your investors

Once you have created a new altcoin, made it simple and unique, investors will likely come and give it some attention. If things go your way, the coin might even become quite popular. At this point, a lot of coins have disappeared because their creators thought that this is it, and there is nothing else left for them to do. What they failed to realize is that creating a coin and starting to attract attention is only the first step in the grand scheme of things.

There is always initial exciting when a new altcoin comes to the existence. However, if you are not careful, the excitement will pass, and your coin will be forgotten. Newer coins will appear, and yours will be left behind. This is why the team behind the coin must always keep finding new ways to capture the attention focused on their product. This may include anything, from events to new upgrades, sharing the progress and announcing plans and partnerships almost on a daily basis.

If people became interested in your project in the first place, that means that they are giving it a chance. Keep them interested, show them that you are working on it constantly, reward their attention by showing them the effort as well as results, and they will stay.

4. Create a community

A strong community is one of the most important aspects of any altcoin. Having a community means having supporters and investors, which is what allows an altcoin to grow. The community will be there for you and your coin, they will help spread the word, and they will help the coin survive difficult times.

A lot of coins became popular, only to nearly fade away after a while. However, their communities did not allow it, and they brought them back. One such coin is Dogecoin, which came to be as a joke, an old meme from half a decade ago. However, while its value is still very low, Doge is very much alive even today, simply because of meme lovers who did not let it disappear. While a community is only one aspect of keeping your altcoin alive and successful, it cannot be overlooked, as altcoin cannot exist without its supporters.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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