I wouldn't say that "Economic woes like inflation and recession has proven that the fiat can quickly lose its value and become somewhat useless to its holder". Most fiat currencies have not become useless. I mean the US dollar , while taking a hit of late, is still a strong currency and one that is widely accepted across the globe. Also I think it's important to establish the fact that many/most altcoins are absolute shit. So careful out there with which ones you're using.
Indeed there are so many altcoins which are a waste of time. I’m always very careful when I want to invest in the cryptocurrency market, and I tend to avoid most of these alt coins, because I know that they wouldn’t really be worth it in the future. Majority of them just grows stagnant and not making any move anymore, they just stay low without going up again, and we don’t even have any believe that they would.
So, when you want to select a cryptocurrency to save or invest, you have to be very sure that you’re selecting the ones from the top of that list, which can be Bitcoin, Ethereum, Litecoin, and the rest of them.
