Many of the altcoins are used for another purpose in trading, trading is only done for investment purpose but value of the coin is created when it is exchanged between other users for a good or a server code in return
Topic: What is actual use of altcoins other than trading? (Read 470 times)
Not a legitimate question IMHO, how can platforms like ETH and PIVX can`t have actual usage?
Once current over-volatility will wash away, a lot of real-using coins will survive and come on surface.
What we need is a smart filter in crypto..
Once current over-volatility will wash away, a lot of real-using coins will survive and come on surface.
What we need is a smart filter in crypto..
The actual use of altcoins are different for each project. Some altcoins can be used in their platform for reduced fees, some altcoins pay you dividend when the project make money and etc
You can not generalise. Some altcoins have an actual application like Steem or Ethereum. For others they have yet to make a valid use case. Long term it will the use case that drives prices and not speculation about future use like seems to be the case for many altcoins.
In addition to trading in altcoins we can also invest in a number of altcoins with short and long term, I suggest to get a big profit we have to wait patiently and smart reading the price up and down altcoins.
You can not generalise. Some altcoins have an actual application like Steem or Ethereum. For others they have yet to make a valid use case. Long term it will the use case that drives prices and not speculation about future use like seems to be the case for many altcoins.
To keep altcoins for long term, some of them you can directly use as digital money in near future.
Here most of us are trading altcoins with bitcoin to earn profit. Just want to know is there any other use of altcoins other than trading?
Can someone is using altcoin for purchasing and shopping etc.
Can someone is using altcoin for purchasing and shopping etc.
Well each alt coins has there own objectives that they want to achieve and the reason why they are doing ico is simply to get budget in developing there desired goal, Like for example banca tokens a side from trading they are achieving to make a decentralize banks fixing the issue of traditional banks another one is Polymath they are into SEC and each token is use to pay for that. each tokens have there own purpose purpose why they are being created.
The problem is that most of the investors wants liquidity with their newly bought crypto. I understand them regarding this matter but in the long run a problem arises like what we have now-tons of shitcoins with no actual use or the platform is not done. I saw many ICOs that is prematurely engage in trading without the platform done and gets the prices of the coin dumped. It is a series of scenario, first the bounty hunters will sell their token, after that the uneducated investor will also dump the price and it will continue before the platform is done.
Each altcoin is used depending on how its developer made them. Some are used as a utility token, security token, for lending, etc. Not only that, a lot of traders uses altcoin to transfer their investment from one exchanges to another to minimize the withdrawal fee because the withdrawal fee of altcoin is cheaper compared to bitcoin.
Here most of us are trading altcoins with bitcoin to earn profit. Just want to know is there any other use of altcoins other than trading?
Can someone is using altcoin for purchasing and shopping etc.
Can someone is using altcoin for purchasing and shopping etc.
You don't really make enough research if you don't know some of them. There are altcoins that are created to help to track cars history where there is a token that you use to access it and there is also an altcoin that can be used to access dna of a person or for the intelligence or accurate research database that you want.
Each coin has its own goal, but at least 90% of the actual projects are not actually used.
For example, altcoins in practical use have BTC ETH and so on.
In general: keep learning, do well in risk control, and patiently hold the currency to avoid being thrown out of the band.
For example, altcoins in practical use have BTC ETH and so on.
In general: keep learning, do well in risk control, and patiently hold the currency to avoid being thrown out of the band.
however some altcoin can be using other than trading, like ETH for example you can use this for make an invesment on ICO or maybe act like a gas for your token payment. many altcoin has their merchant payment gateway also. I think someday we will see some great altcoin can be use as merchant payment more than nowadays, day by day people are more aware with this technology.
Each altcoin is unique to its own developer. Some altcoins are launched in an ICO, then the remaining unsold tokens are burnt, thus increasing the value of the altcoins = you profit. It's especially interesting when it's backed by either a tangible profitable service or product. This is what VLUX is proposing in its recently launched ICO - http://vlux.io/
Here most of us are trading altcoins with bitcoin to earn profit. Just want to know is there any other use of altcoins other than trading?
Can someone is using altcoin for purchasing and shopping etc.
Can someone is using altcoin for purchasing and shopping etc.
which I see we can also use altcoin to invest for exchanges and transactions and with so many people investing in Altcoin with the long-term to earn profits other than by trading and when altcoin prices are low and you can also buy with altcoin when the altcoin price decreases
One of the main reasons of altcoins is the incomes you can get and the profit. You invest, you hold, and then you have the profits
no. Its not. The main reason why cryptos are built is because the developer wants to deliver a service (a unique service) that uses the power of blockchain technology . however some people mistakin cryptos as an earning oppurtunity in order to earn a profit because cryptos can also be used as an asset aside from their primary purpose on which is a currency or medium for thier service.
the actual use of altcoin aside from trading is for payment system/method. Trading or investing is only for a secondary use.
One of the main reasons of altcoins is the incomes you can get and the profit. You invest, you hold, and then you have the profits
Here most of us are trading altcoins with bitcoin to earn profit. Just want to know is there any other use of altcoins other than trading?
Can someone is using altcoin for purchasing and shopping etc.
Can someone is using altcoin for purchasing and shopping etc.
Yes there are other uses for altcoins like you can use Etherum to purchase stuff online, or use Siacoin and Storj for online storage backups, there are so many use cases, it all depends what exactly you want.
if you read the whitepaper of their project you will see what is the primary purpose of their coin. also you can read in their website. also before they launch they make an announcement usually they announce it here.
Every altcoins has unique differences but as a trader you can trade your altcoins to bitcoin. I mean if one altcoin idle or you cannot use the purpose of one altcoin for yourself you can trade it to the one who want or need that altcoin.
Here most of us are trading altcoins with bitcoin to earn profit. Just want to know is there any other use of altcoins other than trading?
Can someone is using altcoin for purchasing and shopping etc.
different altcoins has different purposes and uses based on the purpose they created for. but for me, I just use altcoin as investment, and also for trading. Can someone is using altcoin for purchasing and shopping etc.
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