There are so many cryptocurrencies in the market, what do they do?

[traderethereum]

I am afraid there is no other role except to make money until now. We see many new projects launch, and their purposes behind the project are collecting money and get that money. Until we can see the implementation for the cryptocurrency has already happened in everywhere, then each coin can give the real benefits to the people. But bitcoin gives a proves in some country, and you can see that there are ATMs installed in that country so people can use the machine. Besides that, we can use bitcoin as another payment system by using the third party, so we don't need to confuse about converting from fiat to bitcoin because they already calculate the converting.

[dutechman]

Cryptocurrencies are created or developed with the aim of solving a particular problem or develop a useful product through blockchain technology. However, lots of projects have drifted from this primary objective. There are a lot of cryptocurrencies today that are not useful for anything because they were not well developed, they lack value and utility and that's why they are not making it or competing favourably in the market.

[Reid]

I have a lot of questions about the cryptocurrency market.What is the role of so many cryptocurrencies?I feel that there is no other use besides hype.

Of course there is a role for every crypto currency being created and you can see that in their whitepaper.
It is just that this new currencies cannot surpass the softcap to continue the project or they are pure scam from the start.

Anyway, it depends upon you. You have the chance to research them first before investing with them.
Make it 3 to 4 times of checking before you hand your money to them in exchnage for their token.

Higher risk could mean a higher profit but it is dangerous.

[sana54210]

I have a lot of questions about the cryptocurrency market.What is the role of so many cryptocurrencies?I feel that there is no other use besides hype.

You are right. Even almost all the crypto currencies are promising some special reason for their existence, they are not having any unique feature to justify their existence. Almost all of them are just an approximate clone of bitcoins but having a modified mining algorithm or having some enhanced features added. Nothing else more than that we can expect with most of them.

bitcoin gives a proves in some country, and you can see that there are ATMs installed in that country so people can use the machine.

Except bitcoins, most other coins are just the existing and simply following bitcoin for having real-life applications. Simply we can say they are all just here for no reasons in the view of a payment processor. ATMS are not an innovation of cryptocurrencies and BTMs are being installed for the reason providing people easy access to cryptos.

Besides that, we can use bitcoin as another payment system by using the third party, so we don't need to confuse about converting from fiat to bitcoin because they already calculate the converting.

Bitcoin is itself a payment process on its own but we need third party support when we do think about converting it into fiats to escape from price fluctuations. This can be a case against any altcoins too as altcoins are also heavily fluctuating.

[SinLinJim]

I have a lot of questions about the cryptocurrency market.What is the role of so many cryptocurrencies?I feel that there is no other use besides hype.

Distraction and decrease in capitalization, I see the main reasons for the appearance. Many coins are not used at all and hang on the stock exchange as a dead load, and I am not talking about useless forks yet.

[alrose]

I have a lot of questions about the cryptocurrency market.What is the role of so many cryptocurrencies?I feel that there is no other use besides hype.

Actually some of that coins or tokens have their own reason why created. But don't know it is because of bad movement in market or maybe developer's hidden purpose when create that coin. Some of them not really follow their roadmap and seems leaved by their dev.

I think this 2 factors combined.And the bad market affects this and the reluctance of developers to work only on one enthusiasm.Understand that a good developer wants to make a good profit.I think most cryptocurrencies will disappear soon. The strongest will remain.

[trauchot]

Now, many people who understand that you can earn money on cryptocurrency and on your company, very actively open different companies for different fields and they use cryptocurrency technologies for this and each company has its own token.

[UnDerDoG81]

I have a lot of questions about the cryptocurrency market.What is the role of so many cryptocurrencies?I feel that there is no other use besides hype.

There are currently more than 2000 crypto in the market, but actually only a few hundred coins are still active. Most of them were almost no longer traded on exchange and died when the market plunged. That is a way to get projects out of this market

[icecube45]

I don't know what the role of many crypto circulates. The number of crypto circulating is because crypto has a decentralized system, each person is free to create their own crypto business so there are many crypto circulating. But more than 90% crypto is a scam and the product fails, so it's like garbage. But there is also crypto that is developing and successful, even in collaboration with well-known companies. This is like a fight, the strongest crypto and can develop will become crypto that is worth using, while crypto that fails will have no value anymore.

[belli4388]

yes there are actually many, maybe too many altcoin / token but few of these will be successful and some value many will end up in oblivion and lose value others will be just delistate from exchanges and will not be worth anything we must know how to choose well those that can have a future and a value

[bitcoinmar]

I have a lot of questions about the cryptocurrency market.What is the role of so many cryptocurrencies?I feel that there is no other use besides hype.

Distraction and decrease in capitalization, I see the main reasons for the appearance. Many coins are not used at all and hang on the stock exchange as a dead load, and I am not talking about useless forks yet.

The coins you said will be delisted from exchange if they don't have a long time trading. There are also many projects with potential, however the decline makes the project team more difficult and can not continue to lead to suspension of project development.

[makerst]

In this there really is a peculiar problem of our time because a very large number of projects are collecting fees, which today still have very poor results. Issued tokens are not needed if the project does not work. There are so many.

[pemantaubtt]

90% of cryptocurrency is useless, and many of them run useless projects. I have seen so many coins that only made pump n dump coins and have no clear reason why the coins exist.
My conclusion is that those who created shitcoin are only looking for profits from the crypto hype.

[LogitechMouse]

I have a lot of questions about the cryptocurrency market.What is the role of so many cryptocurrencies?I feel that there is no other use besides hype.

Different coins are created for a specific reason. Some are being created for easier payment system. There are some reasons but I can't enumerate them. Some of these coins are scam only and it is created to get some money to the investors out there. There are some people saying that most of the coins right now will eradicated in the future for some reasons. Maybe because of financial problems or because they are scam.

[Kardon]

I have a lot of questions about the cryptocurrency market.What is the role of so many cryptocurrencies?I feel that there is no other use besides hype.

Everyone wants to earn, and everyone does it as he sees fit. The market is really a large number of projects, and most of them can be safely called another slag. Everything is very simple, where the money is spinning, there will always be scammers. Therefore, be extremely careful when investing your own funds.

[Badhuamin]

maybe for people who are seeing the crypto market for the first time they will see prices that go up and down uncertain because price changes occur so fast, but in crypto it is very difficult to determine a good coin to invest because time changes also affect the price of the coin .

[max6575]

the chance as developer works as offering use of goods of service for public audience.
we are preparing our projects for pupils of indonesia as requiring of supports with 40000 authorization of funds to helps as covering funding on working on scheme with beginning initials of terms with the development.

[Vektrum]

I have a lot of questions about the cryptocurrency market.What is the role of so many cryptocurrencies?I feel that there is no other use besides hype.

We know that there are many good and useful coins and tokens on the cryptocurrency market, and even more unnecessary and unpromising ones. However, only in this way can the cryptocurrency be improved. Supply and demand in the market determines which cryptocurrency to live on and which one to leave the market forever. Therefore, do not worry about a large number of types of cryptocurrency. Over time, the market will remain only those that will be needed by people.

[nak02]

As we can see now, many projects are failed and due to lack of development and funds they stay in market or exchange but no value, Maybe we can request that delete the crypto currencies that are dead or fake/scams also.

[fortunecrypto]

I have a lot of questions about the cryptocurrency market.What is the role of so many cryptocurrencies?I feel that there is no other use besides hype.

The role of the token is a utility token own by the company that issued them, so better check the platform of the project first before investing in the token, yes some coins are just made for hype but not all of them I can guaranty you that those coins in the 100 positions are not hype but they do have a platform for the community to use.