Why alt is important

[Bushdark]

Altcoins serve its purpose and they deliver a great product and services that the market can’t afford to decline it.
Good altcoins always be the priority to many and the current up trend is an indication that many are still supporting altcoins. There is no doubt about Bitcoin of course but if there’s a way for you to get good altcoins then better to grab it too. Yes SOL is doing great right now, better to take advantage of the airdrop and know how to qualify.

I think there are many reasons why altcoins are important for us to play a role and invest for the purpose ofmaking profits..
We can't just keep holding Bitcoin alone even though it has much influence in the crypto market. It is good when we invest in different crypto projects so that we can earn more at the same time. If we have the eye of investing in projects that has high possibility of going like 100x to 1000x, we might make more profits from such kind of projects than ever.

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[Sophokles]

Alt is important to promote tokenized open economy. Previously most of the startup project was funded by big investors who provide development funds by having a big amount of share of a startup company. Crypto let start-up project to raise fund from the open community where big and small investors has the similar chance to invest in new project. Now a companies share can be traded openly in the form of token.

[AnonBitCoiner]

For trading and investment there are lots of coins but it does not mean that we will hold all type of coin. The token which you have selected may give you profit during Bull run but I think its very risky to put money into new coins. Taking risk is easy but if we have bitcoin and altcoins like Ethereum then there is no need to put money into new coins. And you are saying that some of them are meme so meme will even enhance your risk of losing money because altcoins can give you huge profit but when it falls then directly go to zero therefore try to invest in bitcoin so the money which these coins will offer you Bitcoin's profit will be more than this.

[Lamkuthang]

For trading and investment there are lots of coins but it does not mean that we will hold all type of coin. The token which you have selected may give you profit during Bull run but I think its very risky to put money into new coins. Taking risk is easy but if we have bitcoin and altcoins like Ethereum then there is no need to put money into new coins. And you are saying that some of them are meme so meme will even enhance your risk of losing money because altcoins can give you huge profit but when it falls then directly go to zero therefore try to invest in bitcoin so the money which these coins will offer you Bitcoin's profit will be more than this.

There is a risk if you go in and choose a new coin, but if it has been analyzed properly, I think the potential will have been minimized a little. Well, for price increases, usually many people also follow the direction of the movement of the parent coin, namely BTC. However, I also don't understand whether new coins that have been listed on CMC have that type of movement too. if yes. There's no reason to buy and invest there.

[electronicash]

altcoins are important because its one way to get your BTC from you when you use them to buy alts. altcoins will only have some importance when it has a good usecase and its protocol becomes useful for users like Monero or Eth. other than that, alts will just be usefult ot grab your BTC from your wallet.

[wajik-tempe]

For trading and investment there are lots of coins but it does not mean that we will hold all type of coin. The token which you have selected may give you profit during Bull run but I think its very risky to put money into new coins. Taking risk is easy but if we have bitcoin and altcoins like Ethereum then there is no need to put money into new coins. And you are saying that some of them are meme so meme will even enhance your risk of losing money because altcoins can give you huge profit but when it falls then directly go to zero therefore try to invest in bitcoin so the money which these coins will offer you Bitcoin's profit will be more than this.

Tokens mentioned like SATS, GROK, and RATS have seen significant trading volumes and price changes, showing market interest. It is critical to distinguish between meme coins and truly viable ventures, and diligent research can help avoid dangers. While Bitcoin remains a safe bet, a deliberate approach to discovering new altcoins can boost total portfolio development.

[tvplus006]

...Some could be a meme coin By now we should all know what to do, Know the alts to trade for the short term, and long term and hold for the long term. We are here for Profits...

It is very risky to hold altcoins in the long term, the exception to which is only ETH. And if I see that some altcoin in my wallet has increased its value by 50-100 percent, then I just fix my profit by selling it completely and wait for the next opportunity to buy again when the price drops.

[GreatArkansas]

(...)
Hence I forget, one good Alts that has been doing well is SOL. They will be airdropping some wallets by next week. You can read more and make good use of this information

Among the list, what I only know is Bitcoin and Solana.
I agree with Solana, it seems among the top market-cap altcoins, Solana is the biggest gainer this time. We have a lot of factor but I am curious why even Solana did pump hard these days, their TVL on their Decentralized Finance (DeFi) platforms are extremely low compared to other layer-2 networks competitors.

[Best-mary]

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GROK (Token) - GROK is a memecoin named after the artificial intelligence model GROK, developed by Elon Musk's company XAI. It currently enjoys significant hype on-chain. Despite recent instances of FUD, the project confidently burned tokens worth nearly US$3 million. Over the past two days, its price experienced a significant rebound, at one point surging by 60%, reaching a market cap of US$66 million.
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I can't find any grok token that had 66 million marketcap. But overall everything you said is just misleading data. Because valuating your burn 50% supply burn when you hold majority tokens doesn't mean anything. It's just least you can do. It doesn't cost to dev $3 million when liquidity is just enough to buy a happy meal with large fries.

I can make a token worth noobgrok and while holding 99% of the supply, i could burn millions dollars worth it, even if it had only only $100 in liquidity and trading volume of one dollar per day.

In short: that's a scam.

I've never been into altcoins, since I started my journey into cryptocurrency, it has always been bitcoin for me. Reading OP's hype of altcoins, was gradually getting my attention, because I like the way he was explaining the altcoin market current updates. Suddenly I scrolled down to your comments and now you have deflated my interest in considering giving a short at  altcoins again.

Guess I'm back to where I was , focusing only on bitcoin, with it's considerable risks, compared to how I hear altcoins, can just disappear and die, in the shortest time. Eventually I'll start my journey in altcoins, but it'll be a top altcoin, not any new hyped projects in the market.

From my findings I know that altcoins can be profitable in a short time, like bitcoin trading, only that it's like gambling, where there's chances of losing your investment too. The difference is that altcoins can disappear but bitcoin doesn't.

Im glad you did your findings yourself and I believe you would understand more about how to use these alts. Although I understand what the other user meant, let's not forget that we can do alot more on research before investing in any alt that's why I made mention of using an exchange in one of my earlier posts on how to navigate shitcoins, altcoins, meme coins and scam coins. Even as most people do call all alts a scam, there are real ones that do well like BGB which recently reached its ATH then you would see SOL, AGIX, INJ and many more

All I'm saying is keep doing your research you will find out more and how to use them well

[Best-mary]

Alt-coins has been important for cryptocurrency trading platform, mostly new list on the top exchange's like Binance normally pump and early investors make profits from it, that is the major reason why alt-coins are important.

I doubt that is the reason why alts are important though. You're  missing the point that these Cex are there so we could easily trade them. And again, Binance usually list most alts late giving others who bought in other exchanges leverage to arbitrage

[yazher]

I think for me, right now what is important are those altcoins that are not centralized because they will give lots of boost for the financial revolution that we are aiming for throughout this year. it's just sad that most people are not really excited to invest in those coins because they don't have as much support as other altcoins have. Right now we are in need of those altcoins because the governments and the banks are making some moves to make bitcoins under their total control by introducing laws one after another.

[Best-mary]

I think for me, right now what is important are those altcoins that are not centralized because they will give lots of boost for the financial revolution that we are aiming for throughout this year. it's just sad that most people are not really excited to invest in those coins because they don't have as much support as other altcoins have. Right now we are in need of those altcoins because the governments and the banks are making some moves to make bitcoins under their total control by introducing laws one after another.

One thing is certain, their government can't control Bitcoin. This is not XRP they would want to know every move of the transactions. I mean that's what they signed up for but yes, they're a couple of good coins that are not centralised most of which are also listed on exchanges

[d3nz]

I would say that Altcoin was created to make it balance in the cryptocurrency world.  Even though BTC can be easily manipulated, people can choose what to invest in since there are a lot of altcoins and they have differences in their value.

A lot of people would invest in Altcoins since it is much cheaper than BTC and can hoard as much as they want and wait until the value rises up.

[tygeade]

Alt-coins has been important for cryptocurrency trading platform, mostly new list on the top exchange's like Binance normally pump and early investors make profits from it, that is the major reason why alt-coins are important.

Agree on the first thing that you said. A crypto exchange can mostly composed of altcoins. If they are not invented, crypto trading won't burst like this and people will end up hodling their BTC only. The reason why I find it hard to agree on the second one that you said, is because there are people who are losing money on those pump and dump coins. Those coins are a poison to the overall crypto.

Other than the first one, altcoins are also important because they can supply the missing features of BTC. Take note, I'm only referring to the legit and useful altcoins. As many of them are just a junk and scam. Would there ever be a time that all people will wake up and not support them? Sigh .

[redsun114]

Altcoins are here to serve as an alternative to Bitcoin and we can see its value by giving a good service that Bitcoin can’t give and right now there’s a lot of good altcoins that helps cryptomarket to be on a good spot. What you can do right now is to look for a good project to invest with because not all altcoins are worth to invest since some are just a hyped project especially with the meme tokens so be careful and know how to manage your risk.

Many new investors make the mistake of investing in new altcoins or altcoins that are rising quickly to ride the wave and get some profits. Still, they eventually lose money because of FOMO and investing in projects that don't have any fundamental value but are just pump-and-dump projects where investors who buy during the rise will have to incur losses since developers will dump their holdings when the price reaches the peak and the price collapses after that.

So, people should rather look for trustworthy tokens and coins for taking profits because it doesn't matter if the profit you are getting isn't very high as long as your capital is safe, less profit is better than not losing your own money, that's what I believe in and that's what I always recommend to others as well.

[Mister Ab1]

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[Mate2237]

From your topic and the content of the op all are okay. And I will make my comment base these two items. Let me start from the topic. Everyone has different reasons of investing in altcoins. Your topic look like a question asked by someone in the gambling section that "why people gamble" and the two answers are almost the same but they are not the same.

Now the reason why people consistently gamble is because they want to regain their loss and for Altcoins investors, they are investing in it because they believe that one day the coin will make them Smile. Like those who invested in Ethereum early and hodled it till now will be very happy to hodle the altcoin from the onset. And because of the appreciating nature of altcoins make them to be important in the cryptocurrency ecosystem space.

[VFalcon]

I would also add myself a TFS token this alts season, it's just the thing to use for the Fairspin Cash Giving Day tournament. This is a limited time event that runs until December 1. You can win money while doing what you love to do - playing games. Take advantage of this opportunity and try to win some money for future investments 

[krava22]

I would also add myself a TFS token this alts season, it's just the thing to use for the Fairspin Cash Giving Day tournament. This is a limited time event that runs until December 1. You can win money while doing what you love to do - playing games. Take advantage of this opportunity and try to win some money for future investments 

I wish I could have gotten in on the action. My friend managed to get a small prize of 50$, I think I will be lucky in the new tournament too

[o48o]

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In short: that's a scam.

I've never been into altcoins, since I started my journey into cryptocurrency, it has always been bitcoin for me. Reading OP's hype of altcoins, was gradually getting my attention, because I like the way he was explaining the altcoin market current updates. Suddenly I scrolled down to your comments and now you have deflated my interest in considering giving a short at  altcoins again.

Guess I'm back to where I was , focusing only on bitcoin, with it's considerable risks, compared to how I hear altcoins, can just disappear and die, in the shortest time. Eventually I'll start my journey in altcoins, but it'll be a top altcoin, not any new hyped projects in the market.

From my findings I know that altcoins can be profitable in a short time, like bitcoin trading, only that it's like gambling, where there's chances of losing your investment too. Difference is that altcoins can disappear but bitcoin doesn't.

You can't judge all altcoins because of one misleading shilling post. There are decent altcoins out there, and then there these kind of scams, they are not comparable.
And there are always going to be lying involved when people are trying to sell their visions or bags they are holding.

And yes, most altcoins are going nowhere or even solve anything, but that doesn't mean they are all scams even if 99% of them are purely made for eventual rug pulling reasons.