Do you really use alts for the purpose they're supposedly created for?

[Lordhermes]

I used ETH a few times in the ICO days for investing in new ERC-20 coins and did a bit of trading on ForkDelta. Eventually, I converted everything to BTC and haven't touched it since aside from a few tips I've received at casinos.

To me, all these altcoin was created just for the purpose of trading, withdrawing and depositing, so many project lied to investors for their use case but at end cannot deliver what's written on white paper, its only takes a few good project to the opposite.

[Kunnu]

My use of altcoins is limited which is trade and make profit with them but there are some altcoins like trx and xlm which I use to move my fund because of the cheap transaction fee and that's one of the major use case of these two altcoins.

[Lantind]

My use of altcoins is limited which is trade and make profit with them but there are some altcoins like trx and xlm which I use to move my fund because of the cheap transaction fee and that's one of the major use case of these two altcoins.

What you do is something that other people in general, including myself, also do, because trading with altcoins and being able to make a profit is very extraordinary, so is using altcoins to minimize gas costs for transactions.

[Mighty_crypt]

The truth is 90% investors don't care about the purpose of altcoins anymore, many holders are in loss and now they care about taking profits ASAP, this is why few crazy investors intentionally invest in pump and dump coins or scam coins just to make some profits and get out.

[yangongear]

I think the only purpose we use altcoins right now is just payments. The rest is still buying and speculating. The tokens for farming recently are probably the most used for the right purpose.

[bubbalex]

Haha, that's really funny question! I just trying to remember altcoins I used for their general purpose and nothing comes in mind. I guess the only alts I used for their purpose are the alts which main purpose is some sort of money)

[meanwords]

Some are investments while others are for use case. Let's take for example Dogecoin, the only reason why I buy this is because it is one of the most well known altcoin out there. It's fast and cheap for transactions and many exchanges/wallets use them. For investment, I'd make kucoin as one of an example for making passive income.

I think this is why cryptocurrency is very popular to people because it's up to people on how they are going to use this.  

[Coyster]

Imo, there should actually be no exact reason to use dex cryptocurrencies, it presents quite a lot of opportunities for it's users, and in whichever way anyone of those users choose to use it is totally fine. BTC for example can be used for a plethora of purposes, some users simpy just hodl it and have not capitalized on it's feature as a payment option, but it really changes nothing on the network, everyone cannot use a coin for a particular purpose, it'll serve many purposes for many users at different times.

For altcoins, many of them aren't really true to their use cases, so most investors are only out to make profit from it when they can, plus the value can dump pretty fast, I think I can say that for users to use a coin mainly for the reason it was created, they need to trust the coin, it's value, they have to be sure it's not just a pump and dump coin, without that trust, they'll only just buy, try and make some ROI and sell immediately, so they don't meet any losses.

[Crypto_lion]

Right now I can't think of any alt that we can use directly . There are quite a few alts which you can stake and enjoy the benefits while running a node and the node serves the purpose for which the alts weree created.

[GreatArkansas]

Honestly for me, since I am more into Bitcoin. All altcoins that I owned lately are only for money, I bought them because I have some analysis and speculation.
I think some the people also are only for Money, especially these days, we are still early in cryptocurrency and some of the people boarding are into money only, I know it is not advisable, and learning first before buying something is the best practice.

[tvplus006]

Interesting replies. So far, not even a single vote towards the first option. The thoughts I previously had are now confirmed: altcoins are really only used for trading.
....

This is explained very simply: In this thread, it was mostly traders who answered, not investors. If investors answered about their choice of altcoin, they would write about the technology and functions of these coins. For a trader, volatility and liquidity are more important.

[Gotumoot]

I only use some of them for their main purpose most of the time I only buy alt-coin to trade so I don't really use them for anything else.
I would only buy them to hold or wait till I gain profit because they pump up most of the time it is only for a short trades.

[Altryist]

I only use some of them for their main purpose most of the time I only buy alt-coin to trade so I don't really use them for anything else.
I would only buy them to hold or wait till I gain profit because they pump up most of the time it is only for a short trades.

I think that most altcoins are only used for trading in order to make money. I also hold several altcoins in my portfolio with the hope that they will rise in value in the future. But there are only a few of them, and mostly I use altcoins only for trading with the purpose of earning.

[Becky666]

Not at all, those altcoins i have ever hold are mainly for the purpose of profit and not for the purpose they are meant for. Most of these altcoins do not have case use or not made for a specific purpose, so, for anyone to pick on them for profit taking should be the very best. In actual sense, things should have been done otherwise if we want the progress and the actualization of a global adoption in the industry. No altcoin actually meet the requirement of what they're meant and created for.

[shoreno]

what exactly siacoin mean as a storage platform ? all cryptos are already like that . they can store a value if you hodl them  but for monero it can be different because not all cryptos are totally anonymous .

monero is a coin that people can use its real purpose while at the same time people can also use it for investing , trading and everything else .  for others that said to have a utility  , its hard to use them for that purpose but people just invest on them to be able to make profit .

[Bitcoin-Pro]

i'm using Litecoin for PlayStation4 Digital Games purchases from eGifter.com (PS4 charge cards).

mostly i buy cards for $20, sometimes for $40. i don't see it's fair to pay additional $5 or more in bitcoin for fees and sometimes i wait really long time for confirmation.
I pay very little fees with Litecoin (~$0.0005) and my transaction complete within 3 minutes without any problems.

Litecoin will add privacy option on it, this will be good to use for anonymous transactions as well.

[djmixen]

Not all altcoins have the potentials to give profit to everyone in the future. Because there are some are only design for pump and dump only but don't have any plan good development in the future. But there are also some of the altcoins that have a good plan development in the future as well, just like for example Link, Bnb, Dot, Xem, and more.

[Dr.Osh]

To be honest, I don't use them for the purpose for which they were created. So far, I have gotten the token from the bounty. well, I also used some of these altcoins for shipping because of their low fees. but so far, there has been no function that makes me interested in using it other than bitcoin and ethereum.
however, some people may actually use it according to its function.

[genievic23]

So many altcoins exist, out of which some are more known and used than others. Many of these coins claim to have an utility - for example, Siacoin exists, praising themselves as a Storage Platform.

But what truly bothers me is that, if I think about all those alts I have ever purchased and held, I have never used them for what they are supposedly created for. Besides Monero, where privacy is basically the default, most coins I have ever held have only been used for exchange deposits and withdrawals.

Hence, I thought it'd be a quite interesting idea to create a poll and find an answer to the following question: Do you really use the altcoins you own for the purpose they're supposedly created for?

I thought of this too, did crypto people really use alts for it's own purpose. I bet the majority would be no. I bought major coins in exchanges just to profit from it, and while typing I thought of this monetizing site I use like LBRY, where I can send LBC coins to people who make good video contents, same with other apps that offers monetizing social media and rewarding people w/ their coins. 

[sangjoewara]

I think the only purpose we use altcoins right now is just payments. The rest is still buying and speculating. The tokens for farming recently are probably the most used for the right purpose.

Yes, but we also have to keep in mind that every use of any Altcoin cannot be separated from the name of the risk, including the token for farming which has recently been used the most for certain purposes.