Do we Need Altcoin?

[DAMKAR]

a number of altcoins are a kind of product, if there is a profit value, people will definitely need it.. not different from buying and selling goods in the real world.

Yes, but now the product and technology are of little importance to people, they buy a promising coin and evaluate it only from the point of view of speculation. They are not interested in what problems this project solves

I think  we should learn and consider about technology of project.
If we just think about speculation , It seems gambling coins.
I don't agree with this.
Good project will have good future.

[Speaker]

It will take a long time before cryptocurrency and products based on them will seamlessly enter our lives and become the norm...the same as cashless payments, internet, etc

[Freemind]

I think  we should learn and consider about technology of project.
If we just think about speculation , It seems gambling coins.
I don't agree with this.
Good project will have good future.

The altcoins, and I mean the ones that are really worthwhile (not the thousands of memecoins that flood the market) are necessary for the cryptocurrency ecosystem to cover the needs that Bitcoin does not cover, for example. Faster payment processors, smart contracts, blockchains with specific use cases (IoT) are necessary for a society and an industry that demands faster and more secure services every day. We know that Bitcoin cannot cover all those fields, that's why altcoins are necessary.

[Speaker]

We need technologies and solutions that many altcoins offer and whose coin serves as a utility. Everything else for me is just a fashion statement and the vast majority of coins will not even be used by the market.

[coinsrider]

“Altcoins” are cryptocurrencies that exist in addition to Bitcoin. They have certain qualities in common with Bitcoin, but they are also distinct from it in other respects.

Like :
1. They share similar methods to either Bitcoin or other popular currencies like Ethereum or Cardano’s ADA. Altcoins also aspire to become bigger than bitcoin by becoming a more affordable way for digital transactions.
2. Altcoins are designed to overcome Bitcoin’s perceived restrictions in order to gain a competitive edge. Many cryptocurrencies, including Bitcoin and Ethereum, employ the Proof-of-Stake.
3. Altcoins have built a market for themselves by establishing a clear distinction between themselves and the Bitcoin currency.

In short, Any alternate crypto to Bitcoin is called an altcoin. Cryptocurrencies known as altcoins make use of a technology known as “blockchain,” which enables the transmission of secure peer-to-peer transactions. Building on the popularity of Bitcoin, they tweak the regulations a little to appeal to a wider range of customers.

Few alt coins that are good to keep watch:
Aave, Compound, Ripple and ADA are examples of altcoins.

[Wishywashy]

Yes because Altcoins have improved and strengthened the technology while also lowering transaction costs. Additionally, a more stable coin was required. Bitcoin's value has a history of experiencing extreme volatility.

[Speaker]

Altcoins are also interesting because they create competition and there are really interesting and in-demand innovations on the market.

[Folderol]

Bitcoin was released as the first crypto coin. After the success of bitcoin, several other crypto coins were released based on the same bitcoin blockchain, or variation of this blockchain. Altcoins was released with the hope that it will be as successful as bitcoin, or might even take over bitcoin. The prime motive of safe, fast, and hassle-free transaction of money is almost the same for all altcoins.
Although most of us crypto holders agree that bitcoin is the prime crypto above all others, most of us invest in alt coins for two main reasons -

• As a source of extra investment income
  For security in case bitcoin crashes

Although it might look like the reasons are not so strong enough, the continuous growth of altcoins do prove the importance of their need.

[doc]

Altcoins are also interesting because they create competition and there are really interesting and in-demand innovations on the market.

Yeah, altcoins are alternatives coins for us.
It's good for investment  because bitcoin is too expensive.
I agree , I think we need altcoin for chances.
We can choose one or more altcoins in our wallet

[gurunanakji777]

Yes, we need more and more Altcoins for healthy competition between the altcoins and we never know which new coin will boom like Ethereum and BNB in the future so it is also a continuous process to the growth of the crypto market.

[yohananaomi]

Yes, we need more and more Altcoins for healthy competition between the altcoins and we never know which new coin will boom like Ethereum and BNB in the future so it is also a continuous process to the growth of the crypto market.

the more altcoins grow, the better and excite the crypto market in general, so competition will continue to grow well. It's a pity that those that grow well are smaller than those that are problematic. many new projects seem to be made simply there is no intention to develop well.


it is certain that ETH and BNB will continue to lead above all altcoins, because so far what seems to be doing what is according to the development plan that is being carried out, seems to have only been seen in them. but hopefully there will be many who do well in the future and we must be optimistic.

[owmivmen]

Each coin has its own characteristics according to its use and how it works. altcoins provide solutions and benefits for users in addition to investing. the more altcoins there are, the greater one's interest in developing a cryptocurrency ecosystem

[Speaker]

Judging by the fact that more and more innovative projects are coming out on the blockchain and the fact that funds continue to invest huge amounts of money in them, I think we definitely need altcoins.

[Nestle]

Of course some people need altcoins because altcoins are able to provide big gains during a bull market. I always buy altcoins that provide a large profit and return for my investment. That's the reason I need altcoins in my every investment

[Senin]

Altcoins are all cryptocurrencies except bitcoin. Bitcoin, apart from general functions like money, does not have any useful properties. All this variety of cryptocurrency functions is achieved with the help of altcoins. Therefore, altcoins, of course, are very necessary for this market. Thanks to them, cryptocurrency is now developing.