With more and more AltCoins coming up, trying to become the next big cryptocurrency to compete with the Bitcoin, many users has been asking themselves if they should try and make a coin. While most cryptocurrency enthusiasts might have a good idea for a new coin, they may not be able to actually create the coin and get it into circulation - until now at least.
A new site created by Matt Corallo named Coingen has been launched and allows everybody to create their own cryptocurrency coin. You will need to come up with the name for the coin, an abbreviation, which type of cryptographic protocol you wish to use and other different technical details that is needed in order to create your coin. Once you have entered these values, well then you have your very own cryptocurrency coin.
Coingen does however charge you in order to create and generate your coin. Once you have filled in the details you will have several different options to choose from regarding your coin. Coingen charges 0.01 BTC to begin generating your coin, Another 0.1 BTC if you want to remove the Coingen branding on the coin and 0.05 BTC if you want to have the source for your coin.
Overall it is possible for you to create your very own cryptocurrency coin just by spending a few hundred dollars, should you want the most professional setup without any marketing branding from Coingen themselves, making it super easy for everybody to try and create something that can be hyped.
Since the launch of the site, Coingen has had a ton of visitors coming to their site and create their virtual currency. People has been choosing everything from funny, random to downright creepy names for their coins, but the overall welcoming of Coingen has been good.
Matt believes that Coingen will help democratize the AltCoin creation process and be a perfect tool for people with high marketing skills but no or little technical skills. However it may take a little time before you will get to see your coin, as Coingen has a massive backorder of coins, due to them processing things "semi manually".