Bitcoin Forum

Here most of us are trading altcoins with bitcoin to earn profit. Just want to know is there any other use of altcoins other than trading?
Can someone is using altcoin for purchasing and shopping etc.

yes, there is actual use of altcoins, as nowadays mostly every coin that is launched in the market have some practical use & few are considered as utility token which can be used within their ecosystem or externally which helps users to solve some problem. Just see any ICO white paper & read how that coin will be used in practically & how it is going to benefit mankind. If you find any new altcoin ICO's without a working product and/or practical use then that coin is not worth to buy & never invest on that ICO they can be more likely a scam.

You can surely purchase things with altcoins and if altcoins are not accepted, then simply exchange them to bitcoin and make your purchase. But I think despite trading altcoins are surely mostly used for online gambling. I have noticed that more and more online casinos continuously add more and more altcoins as deposit and withdrawal option.

Well each alt coins has there own objectives that they want to achieve and the reason why they are doing ico is simply to get budget in developing there desired goal, Like for example banca tokens a side from trading they are achieving to make a decentralize banks fixing the issue of traditional banks another one is Polymath they are into SEC and each token is use to pay for that. each tokens have there own purpose purpose why they are being created.

Coins or tokens are nothing new.  They were around long before the blockchain was even thought about. Buying tokens for the use on subways.  Chips for gambling, and tokens for use in games on facebook and other platforms.  There are an unlimited amount of uses for them.  Each company has the power to create their own use.  WePower using it to trade energy. CargoX requiring tokens to pay for bill of ladings.  On and one.

There are but only few of them are really being used as such while others are just trying to implement for years.
Sia coin is developing a product for four years.
Whle newer token Gladius has already started the service in beta.

It's true. Very few altcoin that are used today. Off the top of my head it's Ethereum for ICOs and smart contracts, Bicash for just transactions, Litecoin for the same purpose, Monero for dark market. And that's probably it  ;D Another great coins and tokens are in ongoing development which can potentially be widely used. But most what we have today is useless and have no purpose...

There some alt called utility coin/token. So that coin not used just for trading but can be used in real life for example pay your rent, electricity even for pay any online product.

If you are asking about TOP-100 of CoinMarketCap, then yes, almost every altcoin is used in its own ecosystem. You can open the official site of the coin or token, and read, what the technology or service is implemented by this altcoin. But there are more than 1000 crypto currencies, and, of course, not all of them have a practical using other than a speculations on the crypto exchange markets.

Yes there certainly is. All altcoins dont have the same purpose. They are created for a special purpose. If you check before a coin is launched, they have ico running you can find the whitrlist that details all information regarding the project.

As of now, many people are investing on these cryptos including bitcoins only to make profits because in many countries we can't buy anything with these coins yet. So we are forced to convert our bitcoins to fiat and buy the things which you want. Only in some countries, people can use bitcoins directly to buy some of the items not all. So I think both bitcoin and altcoins are mostly an investment purpose to make a profit not many real usages.

That is a very good question. I sometimes ask that myself. But as a longterm altcoin holder in Aeon, I speculate that the future of the cryptospace will not be a single currency ecosystem, but a place where there are different coins complementing each other. It has to be. Can you imagine the cryptospace that has only one coin to rule them all? That would be so boring.

we can use it for almost everything.i mean there a token you can use for charity, there another token create for helping some company with their work etc. that thing called utility token i guess. but yeah some token created just become a trading pair, like tether for examples.

I think that in addition to altcoin used to pay for altcoin balances to cover the weakness of bitcoin is the limitation of the amount of bitcoin in circulation that is only about 22 million coins only, Altcoin also can be an alternative for us to collect bitcoin, after collected you can exchange it with bitcoin and you can use for make bill payment like water and electricity, so another bitcoin function can to make payment ...

The more cryptocurrency we have, the more ecosystem exist in the cryptospace, more competition, more copycat, less innovations and soon more cryptocurrency will die. The only rules of survival, copy the system that really works. The more dead cryptocurrencies will create crypto-junkies just like a dead spacecraft will create more space-junkies. Altcoins use cases has the same concept of other real world transactions like casino chips, gaming tokens, utility tokens for other companies.

Those mentioned uses of token litterally works in many ways, but certainly trading was the most activities for lots of tokens worldwide. Many traders were buying tokens not just for personal use but for their investments. Holders of crypto currencies always do trading and in most certain cases day traders activity was the main reasons why coins became more volatile.

Altcoins is a term used to call other cryptocurrency which is not bitcoin. There are two type of altcoins, the major and minor altcoins. Major altcoins are the one's with higher market capitalization just like eth and ripple. Each coin has different uses aside from trading it. These altcoins where made to correct what bitcoin innovation can't offer. Right now bitcoin is more of a store of value than a cryptocurrency.

Here are some altcoins and its uses:

             Dash (DASH) is an open sourced, privacy-centric digital currency with instant transactions.  It allows you to keep your finances private as you make transactions without waits, similar to cash.

             Litecoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world. Litecoin is an open source, global payment network that is fully decentralized without any central authorities.

             Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference.
http://sebfor.com/ethereum-not-altcoin/

As I conclude from replies, few coins are accepted widely. Other coins need more time and work to create acceptance. Currently most of coins are using in their own framework.

I reckon this is where we begin to see Darwinism happen in the cryptospace. The weak will die and only the strong shall live on and survive. The scams will be exposed and only the real projects with real grassroots support and the best open source developers, who require no outside monetary support, will survive.

Yes some altcoins like ETH, LTC, DASH, DOGE can use it to buy product and service in merchant. I have seen many starts ups created product to possible to buy coffee or other goods n service in cafe, restaurant and store. One of the starts ups that development product that enable for crypto to buy goods and service is Pundi x, this project has working product and their service used in many outlet and cafe in Jakarta.

If your altcoin will be supporting staking method and you will able to earn passive income as another source from altcoin trading. If your altcoin have utility usage just like when you are using binance token and you can get 50 percent discount on the binance platform, If you are owned some santiment token and you will be able to access the platform. And many more but that depends on the token ability itself.

You can not generalise. Some altcoins have an actual application like Steem or Ethereum. For others they have yet to make a valid use case. Long term it will the use case that drives prices and not speculation about future use like seems to be the case for many altcoins.

Yes, of course there is. You can, for example, buy coins that pay dividends. Thus, you invest in some operating enterprise or business that, thanks to investors, has launched a business and now receives a profit that pays a part of this profit in the form of dividends to holders of its tokens. It looks as if you bought shares of an enterprise. Payments are generally made in Ethereum, which is very convenient. I gave an example of just one variant from many other possible ones.

I heard but not seen anywhere, people can use digital currency to pay mobile bills, and electricity bills and they can buy some kinds of stuff in online, but this facility is not available in all countries. Other than trading max people use altcoins to play online gambling and people use altcoins as collateral and take loans.

One of the main reasons of altcoins is the incomes you can get and the profit. You invest, you hold, and then you have the profits

Yes most of us are doing this.

The actual use of altcoins are different for each project. Some altcoins can be used in their platform for reduced fees, some altcoins pay you dividend when the project make money and etc

Various coins are used more than trading basically a coin is not entirely based upon trading purposes only, it also have some physical advantage make it useful in our life. For example, myetherwallet acts a source for storing new coins which are yet to be registered on any exchange, and it use ETH for their transfer which makes ETH circulation and useful coin. Similarly every coin has their particular audience which helps coin to grow and trading at the end makes coin more popular.

Yes trading is secondary purpose. Main purpose is to be accepted for payments etc.
If we generalize it in real life example, basic purpose of paper money is buying good and services. Some people are also exchanging it like USD to EURO. But this is secondary purpose. 

yes most altcoins have a use as it's hard to have a successful ico without a use for your token

Go Green!

There are a ton of coins or tokens that don’t have real world use cases and are currently good for trading and speculation. Many of them have intended use cases, but prices are too volitile for people to consider spending them there intended use because you don’t know how they’ll be worth. There is a fomo for buying coins but there is almost an equal amount fomo around using them and having them increase in fiat value.

The crypto community could use a real life, popular use case that shows it’s ok to use the tokens like you would spend fiat. Until that day, mainly speculation and trading.

All altcoins that has been start before they have successfully launced in some markets have their own platforms and goals to achieve. Some of them make a project to solve some problems in this crypto world and good to know that they have projects that we are the benefits of it.

Aside from having a token or coin like bitcoins has its own special use and so for altcoins in a very specific use only it depends on the project where you can spend it or purchase a things. For its use check out every token what it is for.

yes, you can buy goods online with payments using bitcoin, because for us it is very easy to do and safe for all of us, because we know that in my country they like to use bitcoin. in everything easy to do.

Yes bitcoin is now being accepted everywhere. Many stores have started to accept bitcoin payments.

Trading in bitcoin is the most important thing. Either way, there is a huge demand for bitcoins.

Altcoins not just a tool of the trade, each platform developing they coin has a specific purpose, some are a means of entrance to the platform, other means of payment inside the venue, at the third they exchange goods or services.

There are so many uses of altcoins other than trading in some countries altcoins are accepted as unit of exchange for some particular products in case if these coins are not accepted you can convert in BTC and re use for investment and other financial uses.

That's only applied for the major crypto and medium or low crypto currency still pegged to the result of development. And remember not a lot of companies are accepting crypto right now.
The main usefulness of crypto caused by it can become a market speculation. There is no relationship to the bitcoin or ethereum.

Think of it as a company who wants to get started but doesn't have any funds. Now the question arises that how would a company raise the funds?
Till date they only had two methods - Find an angel investor or go for an IPO - Initial Public Offering. With the concept of ICO, those companies have found a new mean to raise money.
Raising money through ICO is by far the easiest and the most efficient method. The price of coin you see would have been the price of the share of the company had they gone for an IPO.
So apart from trading, this helps in supporting the project of the company and the remainder depends on how successfully they can run their project.

I've heard there are some restaurants that use bitcoin as a means of payment with it can obviously be used as a means of payment, Then altcoin and bitcoin can be categorized as digital assets, of course, by storing in a certain time before trading at the highest price.

Some of the altcoins carry new blockages with more sophisticated and branched chains of transactions, some new computer games for fans of this leisure.

The use of cryptocurrencies as a currency remains very limited. I acquired a bitcoin mining hardware and sold the rights to the trademark with bitcoins. I haven't seen any more suggestions. Bitcoin is not yet ready to become a full-fledged currency. I have high hopes that the developers will address the issue of scalability.  This will significantly simplify the process of using cryptocurrencies.

It strongly depends on the concept of the project. Look at their work first, and you can exchange your altcoins in to bitcoin or somewhere else to withdraw your money.

lol, you actually brought up a very important issue with crypto:

So many coins have NO USE AT ALL.
Yet their company is valued in the millions?
Yeah, that's not sustainable.

For 2018, the market is really starting to mature and alts that have no use or companies with no working product will just not make it anymore.
Especially after Jan to Mar. price crash, investors are looking for long term, reliable investments.

This is where your own research will be invaluable to long term profits.

Does the company have a working product?
Is it better than it's competition?
Is there active development on it?
Does it have real world solutions to problems?

These are the types of questions you should be asking, not "When will it moon? I want my lambo!"

Different coins have differents possibility, but these altcoins are using for shoping, paymends in different websites or can be used in games. There is a lot possibility

All coins in crypto are created for each service uses,they are made to use as transaction materials for the projects/services offered by the company..

Maybe it cant be find for now because its simply designed for future,when time comes that cryptoworld will be accepted in all countries and by all people

While the biggest aspect of an altcoin is its price that it is being traded at for most of the part, tokens can be exclusively used on the platform that it is being developed on. Say Byteball, it can be used as flight insurance through the respective oracle, wager against other users on sports, all of this through smart contracts.

Trading cryptocurrencies is more an additional function of cryptocurrencies, because the main function and purpose of cryptocurrencies is to use it as a tool for exchange of values ​​with other community members. For example, I know many people who buy many different digital goods using Ethereum or Dogecoin (because the transaction fee is low). If I need to purchase a book or magazine, I also use cryptocurrency. I recently sold a few things over the Internet and got Ethereum for it, it's very convenient and fast.

Honestly, I have never done goods transactions with ALT, and I used just to use Bitcoin. In my country, the government made the regulation prohibiting Bitcoin as a means of trade in January 2018, but not banning for asset investment

Altcoins are not just for trading. Some altcoins have value for long term and some are used for purchases too.

Currently some countries have not accepted the altcoin in payment for goods and services. So we do not use outside altcoin, just hold them to benefit from the price difference.

hey you can use altcoin for other purpose like investing. if you have ethereum, you can invest on ico.
investing on ico is profitable if only you found a good ico and a real, not a scam one.

Yes, of course there is. Most if not all of the top coins have a real purpose, and many of these are very different to simply being used for payments. ETH for example is a smart contract platform. Its use-case overlap with a payment-type coin is very small to non-existent. Then you have IoT type coins, and whole swathes of projects looking to transform all different types of industries as we move towards an internet of value. Crypto is not simply digital money, it is way way more than that.
I would say though that these use-cases are largely based on potential - the world moves slowly and it will be some years yet before crypto is fully integrated into society.

Yes. Most of the coins are used for payments, monero is accepted in deepweb markets, xrp can be used as payments too, verge for pornhub, and many more. It depends on the store/service if they acknowledge a particular coin for paymemts.

You can buy many things with altcoins. Second off, many altcoins are trying to be number one cryptocurrency. Their aim is to surpass bitcoin. The usage varies from one to another. So, if you are using an altcoin for any purpose, you are just promoting the ones who created it in the first place because all they care about is making money. Some people have noble goal as they really want to rebel against corrupted banks, and some are not.

Well, obviously yes. In fact, a good altcoin is created not to be sold on the market, but to be used in order to pay for some action or service. Because the more people use this altcoin the higher its price on the market.

A newbie question here and I am glad to see how your mind critically works.
The bold line is true. Besides, there are many things that altcoins contribute to the society. Altcoins have their perspective usage, some can be a tool to purchase in and out of the country, some are merchandise, some are helping the migrant people, some our freelance hiring and all of then are individually unique. Yes, they are all developing the world through the use of blockchain technology and their native coin.

Crypto is actually all money in the world of money. The important thing is to make sure you buy. Because all the crypto money in the market is a project.

It strongly depends on the concept of the project. Look at their work first, and you can exchange your altcoins in to bitcoin or somewhere else to withdraw your money.

All coins are associated with a particular project in the crypto space or blockchain, so typically a successful project translates to a successful coin while a scam project will give you a scam coin and a failed project will ultimately give you a shitcoin. so for the successful ones you can use them in their ecosystem or trade with them

It completely depends upon the utility purpose of the altcoins. They are mostly created as utility token or also called as symbol of contract, shares, holders etc. This identifies the shareholder of particular contract as the coin is associated with unique contracts.

Thus, in case of a project requiring the internal currency they will always use their own coins as it becomes both utility token and investment opportunity.

Example :

This can be explained with REM coin, it is the coin which is used in the REMME project as means of identifying the private key holder. These keys are very important aspect in the REMME as it forms the centre of whole security system that they are having.

With REM they can distribute the certificates required for the identity of the users etc.

Thus it is utility token with a purpose to be used internally.  :)

well, in fact altcoins that as a ticket or means of payment in its own network, where all processes. But you can safely do shopping for altcoins and so on. And earnings except trade... well, you can try bounty.

You can surely purchase things with altcoins and if altcoins are not accepted, then simply exchange them to bitcoin and make your purchase. But I think despite trading altcoins are surely mostly used for online gambling. I have noticed that more and more online casinos continuously add more and more altcoins as deposit and withdrawal option.

I believe that now there are quite a lot of altcoins that are good to buy for a long-term perspective. I think it's worthwhile to think about the Ethereum and Cardano..

Altcoins can primarily be used inside a platform based on which a coin is created. It can be anything, but basically it's buying.

If they are created as an utility token then of course you can use them on their platform if their platform is ready, like ethereum right now to pay the gas fee on ethereum chain. But a lot of ico need at least half to 1 year until they release their platform so right now the only use if for speculation purpose and trading. Some coin also has dividend function like taas and you can get ethereum if you hold it.

There are a lot of alternative projects with common opportunities, not only in terms of investment, but also in terms of their use. I strongly advise everyone to use the tokens of the Remme project and their product, since what they do with authentication and the ability to authorize without a password is what every user needs on the Internet or even offline.

Altcoins are very good for monetization of anything. From video views to receiving rewards for winning an online game. There are a lot of options.

Several,there are two types of tokens, one is utility which are being used to something for example in casino you need chips to play those are utility and the other one is security which is like the company shares,for example if you are investing into stocks those shares are just like security tokens in simple explanation you are investing into the company's share,like what share holders are.

Most altcoins now is just  tokens and they are not suppose to be a mean of payment,behind every token there should be a project,some projects are based there token as utility tokens so you can use it to buy and pay but only inside there ecosystem,some other projects based there tokens as shares with dividends,and other projects doing a mixed  tokens represent a share with a dividends and at same time utility . There is more types of tokens the above is enough to give you the idea .

of course you can learn it from some crypto project that is being held. every ico project has a vision and mission including the product in the ico idea. of course, there are many different innovations and ideas. so you'll understand when you try to read it like a look in white paper. but until now I do not think anyone has actually run like her scenario.

The simplest kind of altcoin earnings is airdrops and bounty campaigns, which you can easily exchange for dollars or for another popular currency. I think it worth of doing.

Do you ever do research ? There are so many coins that have use case already .And there will be so many more and not to say for payments are most of all projected to be used one day

There are merchants who are also preferring some altcoins for payment so it's a combination of bitcoin + alts for the payment but they don't prefer most of it, only those popular ones and has a good market.
You can use altcoins for gambling too there are casino's that are accepting various of altcoins so if you are not feeling good to gamble with bitcoin because of the price.
There's an alt to save you as long as they are accepting that altcoin.

Besides trading, I used Bitcoin and Ethereum to buy credit. And even then I rarely do. Because in my country have a prohibition to transact with Bitcoin.

Check and roam on the announcement page, each coin has their own usage and the industry that they are targetted, coins like Auctus and some other coins are for specific project or industry, and these are the coins worth investing provided that the community in that industry support their coin.

yes there is many utlity tokens that you can use it to but goods or services, ICO's have a utility token so they provide to you to buy their services or goods using their tokens for exemple wepower allow you to buy power with their token (Wp)

But the majority of the crypto still need to be considered as the security says chief of SEC. There is a very little percentage that complete all of the requirements to become the utility token. This still become the big problem in the cryptocurrency right now.

In the future you can use altcoins to shop, just like you use the current legal currency. Now there is actually merchant support for doing so.

different altcoins has different purposes and uses based on the purpose they created for. but for me, I just use altcoin as investment, and also for trading.

Every altcoins has unique differences but as a trader you can trade your altcoins to bitcoin. I mean if one altcoin idle or you cannot use the purpose of one altcoin  for yourself you can trade it to the one who want or need that altcoin.

if you read the whitepaper of their project you will see what is the primary purpose of their coin. also you can read in their website. also before they launch they make an announcement usually they announce it here.

Yes there are other uses for altcoins like you can use Etherum to purchase stuff online, or use Siacoin and Storj for online storage backups, there are so many use cases, it all depends what exactly you want.

One of the main reasons of altcoins is the incomes you can get and the profit. You invest, you hold, and then you have the profits

no. Its not. The main reason why cryptos are built is because the developer wants to deliver a service (a unique service) that uses the power of blockchain technology . however some people mistakin cryptos as an earning oppurtunity in order to earn a profit because cryptos can also be used as an asset aside from their primary purpose on which is a currency or medium for thier service.

the actual use of altcoin aside from trading is for payment system/method. Trading or investing is only for a secondary use.

which I see we can also use altcoin to invest for exchanges and transactions and with so many people investing in Altcoin with the long-term to earn profits other than by trading and when altcoin prices are low and you can also buy with altcoin when the altcoin price decreases

Each altcoin is unique to its own developer. Some altcoins are launched in an ICO, then the remaining unsold tokens are burnt, thus increasing the value of the altcoins = you profit. It's especially interesting when it's backed by either a tangible profitable service or product. This is what VLUX is proposing in its recently launched ICO - http://vlux.io/ (http://vlux.io/)

however some altcoin can be using other than trading, like ETH for example you can use this for make an invesment on ICO or maybe act like a gas for your token payment. many altcoin has their merchant payment gateway also. I think someday we will see some great altcoin can be use as merchant payment more than nowadays, day by day people are more aware with this technology.

Each coin has its own goal, but at least 90% of the actual projects are not actually used.

For example, altcoins in practical use have BTC ETH and so on.

In general: keep learning, do well in risk control, and patiently hold the currency to avoid being thrown out of the band.

You don't really make enough research if you don't know some of them. There are altcoins that are created to help to track cars history where there is a token that you use to access it and there is also an altcoin that can be used to access dna of a person or for the intelligence or accurate research database that you want.

Each altcoin is used depending on how its developer made them. Some are used as a utility token, security token, for lending, etc. Not only that, a lot of traders uses altcoin to transfer their investment from one exchanges to another to minimize the withdrawal fee because the withdrawal fee of altcoin is cheaper compared to bitcoin.

The problem is that most of the investors wants liquidity with their newly bought crypto. I understand them regarding this matter but in the long run a problem arises like what we have now-tons of shitcoins with no actual use or the platform is not done. I saw many ICOs that is prematurely engage in trading without the platform done and gets the prices of the coin dumped. It is a series of scenario, first the bounty hunters will sell their token, after that the uneducated investor will also dump the price and it will continue before the platform is done.

To keep altcoins for long term, some of them you can directly use as digital money in near future.

You can not generalise. Some altcoins have an actual application like Steem or Ethereum. For others they have yet to make a valid use case. Long term it will the use case that drives prices and not speculation about future use like seems to be the case for many altcoins.

In addition to trading in altcoins we can also invest in a number of altcoins with short and long term, I suggest to get a big profit we have to wait patiently and smart reading the price up and down altcoins.

You can not generalise. Some altcoins have an actual application like Steem or Ethereum. For others they have yet to make a valid use case. Long term it will the use case that drives prices and not speculation about future use like seems to be the case for many altcoins.

The actual use of altcoins are different for each project. Some altcoins can be used in their platform for reduced fees, some altcoins pay you dividend when the project make money and etc

Not a legitimate question IMHO, how can platforms like ETH and PIVX can`t have actual usage?
Once current over-volatility will wash away, a lot of real-using coins will survive and come on surface.

What we need is a smart filter in crypto..

Many of the altcoins are used for another purpose in trading, trading is only done for investment purpose but value of the coin is created when it is exchanged between other users for a good or a server code in return