The Reason For Creating a New Cryptocurrency?

[JessicaMcDonnell]

I think new cryptocurrencies are designed to correct the shortcomings of already existing coins. The independence of the system contributes to further development, the emergence of similar independent currencies and their derivatives. In addition, Bitcoin's example showed that the crypto sphere has great potential and perspective, which is an attractive example for creating similar currencies.

[aso118]

I think the main reason for creating new coins is for faster payments. to create an ecosystem of a project that will be valuable in the eyes of the world and there are also reasons for fraud such as dumps and pumps

If the need is for faster payments, you don't need to create thousands of coins just for that. It is unfortunate that most coins are created not due to some compelling need or business reason, but to enrich the pockets of its developers. But with most ICOs floundering these days, that is bound to change.

[googs84]

I think the main reason for creating new coins is for faster payments. to create an ecosystem of a project that will be valuable in the eyes of the world and there are also reasons for fraud such as dumps and pumps

You don't understand this topic to the fullest. I guess OP is straight forward asking that why new crypto currencies are created all the time which are being refereed to the new projects that are arriving in the market. I believe this because many people are trying to raise the funds via ICO for their start ups, some of them are genuinely doing this while on the other hand there are people who are doing this out of scams. The crypto coin is symbol of share so whenever it is created then it gets added in the list and people buy it so that they can benefit from it while creator of the same gets fund raised for his purpose.

[Jating]

Yes, this is the main reason as far as bitcoin as originally envisioned by Satoshi. At that time we are in a financial crisis and he doesn't want to rely on any third party to do our everyday transactions. That's why bitcoin is born, to be use as a mode of payment, without boundaries. However, do note that it has evolved a lot, the real usage was taken a back sit, and now bitcoin is being viewed as a form of investments.

I think the main reason for creating new coins is for faster payments. to create an ecosystem of a project that will be valuable in the eyes of the world and there are also reasons for fraud such as dumps and pumps

[St4yInTh3D4rk]

The growing development of cryptocurrency in the world becomes a very positive thing in this digital era where the use of blockchain-based technology becomes real. However, in my mind, being questionable is actually the reason that many people make and create a new crypto currency?

Actually most of them doing this as business,they can earn lot if they got successful in this field so they were creating new crypto currencies with different ideas and convincing the people that their coin or token is better than anything.But we no need lot of new crypto currencies we already have lot and some were useless so we need to get develop the coins already we have at its beat then only it become suitable for usage in daily life.

[MeganRice1212]

There are many reasons to create a new coin. First, there are too many coins in the market, but they do not bring any profit to the user. Second, if you create a new currency, the creator of the coin will have to apply advanced technology so that they can thrive. Once they have thrived, they will yield a profit although not as high as bitcoin but can grow for a long time.

[okala]

The growing development of cryptocurrency in the world becomes a very positive thing in this digital era where the use of blockchain-based technology becomes real. However, in my mind, being questionable is actually the reason that many people make and create a new crypto currency?

There is a great potential in the cryptocurrencies market and one has to take advantage of this advanced in technology in other to create a good financial future.  Bitcoin alone is not enough to meet up with issues with our capital and money market and we are to open and develop more blockchain technology in other to be able to meet the demand.

[Farma]

The growing development of cryptocurrency in the world becomes a very positive thing in this digital era where the use of blockchain-based technology becomes real. However, in my mind, being questionable is actually the reason that many people make and create a new crypto currency?

There is a great potential in the cryptocurrencies market and one has to take advantage of this advanced in technology in other to create a good financial future.  Bitcoin alone is not enough to meet up with issues with our capital and money market and we are to open and develop more blockchain technology in other to be able to meet the demand.

sometimes new technology is developed for a purpose, and usually it is made in the form of an ICO. Well, the purpose of that is most likely to make new developments in cryptocurrency, which involves the development of a coin they make to make a profit.

[Inkdatar]

There are many reasons to create a new coin. First, there are too many coins in the market, but they do not bring any profit to the user. Second, if you create a new currency, the creator of the coin will have to apply advanced technology so that they can thrive. Once they have thrived, they will yield a profit although not as high as bitcoin but can grow for a long time.

That's true there are many coins in the market but cannot sustain the price in the market. So from what I can observe they creates new cryptocurrency for the reasons of to gains money. To be well known in this industry but they should developed the crypto they have.

[Kellyrobinson86]

Perhaps, To meet the market needs cryptocurrency and for fundraising projects.They create new electronic money for the purpose of raising capital. and develop their projects. So they achieve the goal then they pay the profits to the tokens holders by raising their prices.

[yusupjatigumilar]

the development of bitcoin, ethereum and other crypto currencies makes entrepreneurs look at this business for them to run and make their own products with new breakthroughs with the main goal of making a profit from the products they produce, many projects that hold ICOs for their projects and get the benefits very large

[Turst1974]

I think the reason is business people nowadays think that cryptocurrency could make them rich and they create there own cryptocurrency as will. They are need is investor and a community that could build there dreams.

Different people have different reasons for creating crypto currencies, but I think that in current time most of the people are creating cryptos because they want to collect money from the people through ICO s and become rich. I think that very little people have any a valid reason behind creating a crypto currency.

[davinchi]

There are many reasons to create a new coin. First, there are too many coins in the market, but they do not bring any profit to the user. Second, if you create a new currency, the creator of the coin will have to apply advanced technology so that they can thrive. Once they have thrived, they will yield a profit although not as high as bitcoin but can grow for a long time.

Bruh… Seriously? 😒How can you say that the reason for creating new coins is because that there are already too much coins in the market, please just go through your comment again and tell me how creating more new coins can solve the problem of having too many coins? Rather the number of coins that we have today will continue to increase tomorrow. It doesn’t even make any sense, I think new coins are mostly being created by scammers who wants to steal money from the investors.

[baricuri]

They want to raise capital in the market to carry out their projects and they have created ICO projects so they attract investors to them and they release pennies to investors to hold.

[supermine]

There are many reasons to create a new coin. First, there are too many coins in the market, but they do not bring any profit to the user. Second, if you create a new currency, the creator of the coin will have to apply advanced technology so that they can thrive. Once they have thrived, they will yield a profit although not as high as bitcoin but can grow for a long time.

Bruh… Seriously? 😒How can you say that the reason for creating new coins is because that there are already too much coins in the market, please just go through your comment again and tell me how creating more new coins can solve the problem of having too many coins? Rather the number of coins that we have today will continue to increase tomorrow. It doesn’t even make any sense, I think new coins are mostly being created by scammers who wants to steal money from the investors.

Exactly money making is the main reason for the most of the new crypto currencies were created,we no need may coins we just need the coins which actually can fit in the real world usage.Most of the available crypto currencies were just the copy of the existing coins so we no need that kind of coins,we need some unique ideas from the creators.

[arinalwa]

Being questionable as how? New cryptocurrencies are even more questionable than the old ones that has been for long. You can’t trust a new cryptocurrency more than you do with Bitcoin, cause Bitcoin has been for a long time and we have learnt to trust it cause it’s very reliable just like Ethereum, Litecoin, Dogecoin, Ripple and the rest of other good cryptocurrencies. Going for a new coin apart from these ones doesn’t seem safe to me.

[ErlindaBit]

The growing development of cryptocurrency in the world becomes a very positive thing in this digital era where the use of blockchain-based technology becomes real. However, in my mind, being questionable is actually the reason that many people make and create a new crypto currency?

Actually, they have targets for their products, and they really need big funds to succeed with their products. Therefore they need investors who are willing to join their company. Maybe the main reason is the increased profits. They create coins that have a future value.
And for now, many large companies are adopting blockchain technology, many advantages with this technology.

[hungtrajamd12j33]

The promotion of electronic engineering is growing. In the competition between the electronic network is always finding new things, maybe the new cryptocurrency but born with the technology has a double effect.

[ironman2014]

The growing development of cryptocurrency in the world becomes a very positive thing in this digital era where the use of blockchain-based technology becomes real. However, in my mind, being questionable is actually the reason that many people make and create a new crypto currency?

Those reasons are so many as many people are walking around this earth because even if you are having some goals or some dreams you can achieve them or at least try to achieve them by Kickstarter or an ICO, that are very popular way to do that today.

[slyfox]

The growing development of cryptocurrency in the world becomes a very positive thing in this digital era where the use of blockchain-based technology becomes real. However, in my mind, being questionable is actually the reason that many people make and create a new crypto currency?

Most engineers make a coin to profit for themselves, they couldn't care less about the long haul prospects of the coins they are making, they just think about themselves this is the reason it is getting more typical to hear individuals say things against icos since the designers and theorists are getting rich while everybody misfortunes cash and this is essentially unsustainable.

This is why I have lots of doubts about the future of icos, scammers are abusing that figure to get rich themselves and while I do not like regulation I think we are getting to a point in which regulations are going to be needed if we want to avoid more scams in the market, so congratulations to scammers once again they have ruined an opportunity because of their greed.