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

[BitcoinTurk]

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.

I've been saying so often lately, but after a few years there won't be so many coins in the market. Thousands of projects that have no purpose, who have not managed to disseminate their own ecosystem, and that have garbage, will be removed from the market and as a result of this deletion, a new upward trend will start in the prices of successful projects. I think that many projects created especially as token will not be able to reach even the smallest successes in the short term and in the long term and they will disappear with a rapid depreciation from the market.

[cichaescut]

If you are a beginner in the industry, do not invest all you money into one crypto currency. Read about them and when you will have enough information, select few coins for yourself and it does not matter on what place this coin would be on CMC.

[khufuking]

Not all Cryptocurrencies are meant to be a currency a way to pay and get paid by in fact most of the Cryptocurrencies are just tokens represent an idea or project and most of this projects are useless or just flat scam so do not expect to find a use case for every Crypto you find in the market.

[oppo070]

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.

They are basically launching their own cryptocurrency to be competitive enough for the people to use, in these case, investors and marketers or promoters of the project can acquire these, and eventually, traders can manipulate their coin for a good purpose like increasing profit, then sell it in good price in a return.

[hummer113]

We need more time, time and competition will put everything in its place, scammers will be gone and good projects will develop.

[AlekseyCrypto]

In my rich I will say that most cryptocurrencies do nothing, there is only speculative interest. Teams sometimes make some minor updates and earn on the growth of the course.

[Ini35]

Every coin needs to be revisited and reviewed. There seems to be so many number of coins that do not have genuine use case and some do not have at all.
This has evey tendency, to bring down the price of such coin and one might not see it rise again.
The coins with good products are so minimal, which is why we rarely see coins that grow significantly.

[lutfi-hasan]

Obviously they want the benefits of the Bitcoin movement, because most projects want the big profits from Crypto they create, because if BItcoin goes up they have a Token that is ready to sell.

[ije07]

Those coins are nothing but shitcoins. People come up with copy paste another crypto. No utility, no real life usage, nothing in fact. Only for getting cash. It has become a good way to earn money and that's why a lot of new coin are there.

I will also say the same thing to a coin whose project does not have a clear purpose other than to make the whitepaper as attractive as possible so investors are interested.
because the development of the project greatly influences the price of the coin so that when the project cannot grow, the coin will only become a waste and worthless collection

[traderethereum]

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.

But at least, other coins have benefits too because, with those coins, I am sure that it's a way for us to earn more bitcoin and then we can use bitcoin in our daily life. Although the altcoin is not like bitcoin, the existing of the altcoin are help bitcoins too and make cryptocurrency grows.

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.

Yes, we still need the third party to help us to convert bitcoin into fiat, but I am sure that when bitcoin can grow, we don't need third party and bitcoin can be used as fiat itself. We can see in the future, many people use bitcoin as a payment process, and they have another new type for the payment.

[bezzler]

I believe among all the cryptocurrency, there are just several cryptocurrency that actually has a real value.
From what i know there are many coins/project with similar concept being created and in therm of use, it has less usability.

[senyorito123]

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.

But at least, other coins have benefits too because, with those coins, I am sure that it's a way for us to earn more bitcoin and then we can use bitcoin in our daily life. Although the altcoin is not like bitcoin, the existing of the altcoin are help bitcoins too and make cryptocurrency grows.

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.

Yes, we still need the third party to help us to convert bitcoin into fiat, but I am sure that when bitcoin can grow, we don't need third party and bitcoin can be used as fiat itself. We can see in the future, many people use bitcoin as a payment process, and they have another new type for the payment.

As bitcoin remain strong currency in the future, more demands will come and make the price very expensive. We all knew there were many crypto coins with stagnant market trading activities recently, and this was just waiting for the great market pumps which will bring an increase of each and every coins. Once this coins will be used globally, other alts will also become another mode of asset by other upcoming traders because they'll going to acquire more knowledge about the different platforms that every crypto has. In general digital asset has no limitations, and no end due to higher potential as long there's strong community support.

[elzjmirra]

With the amount of cryptocurrency that is not small, of course, we also have to be careful. Not all Cryptocurrency is real and its purpose is only to get money by cheating everyone. This, of course, becomes very detrimental to many people but you also have to be smart to get the best.

[shad_ow90]

With the current situation when having too many cryptocurrency, the best way I think that should sell immediately when have the profit. Don't be too greed and holding new coins too long

[bestpikka]

actually before the coin coin appeared there was history and the purpose for which the coin was released so before we decided to invest it would be nice if we know the background of the coin so that in the future we will not get losses and of the many ICOs, of course, there are many fraudsters from that we must be more careful in choosing coins for investment places.

[PanGiMoon]

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.

Why deception, everyone who appears wants to get their investor and a place in the sun. Another thing is that the majority lack both people and resources to implement this. And there are simply no new ideas, clones of coins and useless forks.

[Olayinka225]

Quite yes, some are there only because of hype while some are there because the funds was there and some are also there because they've the right usage, some are also there to fake trading volumes, some are also there to keep dead faith, some are also there to lure investors into there traps etc.

[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.

I think that many projects created especially as token will not be able to reach even the smallest successes in the short term and in the long term and they will disappear with a rapid depreciation from the market.

Why do you think so?On the contrary, using only cryptocurrency instead of tokens, the projects themselves will die.The real value I do not see only in the tokens of new exchanges that appear almost every day.The remaining tokens are used to directly maintain the health of projects.Now there is just such a situation when tokens simply simply have no value. But everything will change when projects come to the completion of their roadmap.

[coaprotet]

At least a half of all crypto currencies that are on the market at this moment, will die within the next several years, because even after several years of development they cannot finally release their working solution.

[macstrong12]

Most of them are just a lame copy of bitcoin and ethereum , I rarely see some good project that can attract my attention, These days some new ICOs are coming out and I hope something more practical comes out .