Do you ever wonder why there are many altcoins today? I was just thinking that since the main objective of cryptocurrency is to ease payment. Why would people create so much altcoins when people can only use bitcoin as a payment gateway? Are the founders of every altcoins creating their token for money?
Yes a good number of altcoins founders are creating their tokens just for money, although no one might know the actual number but a very good number of them are doing this, which is why there are many dead tokens in the crypto space with their teams no where to be found and thus the platform already dead. Also, Bitcoin has taken its place in the crypto space which is why it is highly trusted by everyone, in addition, most altcoins are also trying their best in their respective use cases such as Ethereum, Binance coin etc which is why they are growing too. So once again, yes, most altcoins are not good for investing and/or holding because the team are not even ready to develop anything.