ALTCOINS

Last Updated Author: admincrinfnet

Last Updated: March 20, 2024, 1:06 p.m.

THE TERM ALTCOINS

The term ALTCOINS is a collective term for all other cryptocurrencies besides Bitcoin.  Bitcoin was the first cryptocurrency and all the others that came after it are ALTernative coins to Bitcoin - or ALTCOINS.

HOW MANY ALTCOINS ARE THERE? 

There are now thousands of altcoins, some better, many worse.

It is a fact that nobody needs thousands of different coins, so many of the altcoins probably have no future or only very limited use because they only serve a niche. Since their purpose does not bring any added value for most people, the demand for them will be significantly lower than for coins that are already known and widespread or are new but offer direct added value.

Certainly some altcoins have their right to exist and some of them will probably be able also exist alongside Bitcoin, since from today's perspective Bitcoin serves more as a store of value and other coins have better technology than Bitcoin or offer other features such as lower fees or faster processing. which makes them better for paying. But even if Bitcoin were to be solely a store of value, this is a gigantic purpose, so Bitcoin will probably remain number 1 for the near future. Other Altcoins are interesting as a means of payment, while others are largely used to finance their own projects, which, however, serve a certain purpose such as DEFI applications   

SCAM COINS  / SHITCOINS

There are also ALTcoins that were created for the sole purpose of getting investors to invest. When prices rise, many investors are euphoric and carelessly invest a few euros or dollars in such coins. The first seller is happy about the income and then dumps the price or the site disappears completely and the investor is left with a pile of worthless coins. To date, no other coin has the same stability and decentralization as Bitcoin. Thats why Bitcoin is safe and Altcoins are gambling!  

ALTCOINS BEHIND BITCOIN

Bitcoin will continue to be dominant for some time as it is currently the largest and most recognized medium of exchange and has the largest user base, and has already instilled basic trust in the technology among many investors. At the moment, Bitcoin is an object of speculation but also something of a store of value; the fees are currently too high for it to become established as a means of payment, for example for a cup of coffee. And that’s where ALTCOINS come into play.

Many altcoins can be issued at significantly lower fees than Bitcoin, so it might also make sense to have invested in some altcoins in addition to Bitcoin. but significantly lower  than in Bitcoin

Can there be another development where you can buy coins for little money today and then be a millionaire in a few years? 

Yes, this possibility definitely exists. but it is very unlikely that Bitcoin will be outperformed in the long run as it has as established now and created a new network and to achieve a change of this trust away from Bitcoin to this new coin, is unlikely.   This has also been tried a few times with the hardforks of Bitcoin Cash and other forks but nothing has beaten Bitcoin since the start of crypto. It is also l likely that some Altcoins will outperform Bitcoin in short time frames but long term the most capital will flow into Bitcoin. There is no reason an investor puts serious amounts of money in ALTCOINS  when he knows that Bitcoin is the best asset.   

WHICH ALTCOINS SHOULD YOU BUY?

Since we do not offer financial advice, we only explain which altcoins we would invest in and why. We assume no liability in the event of incorrect investments by readers. 

In order to decide which Altcoins might be suitable for you, you first have to know them. The most famous coins are listed on the website coinmarketcap.com and sorted by market capitalization. The market capitalization is the value resulting from the product of price/coin * supply. Here you can now look at the coins one after the other. 

You should ask yourself the following questions:  

-► How long has the coin been around?   - While old coins have bigger users numbers new coins might get a hype in the beginning before they dump 

-► How high is the supply?

The amount of coins is a crucial criterion here. The lower the number of coins available, the higher the price of a coin can rise if there is enough demand. With coins With a large supply (a large amount available) you can also make profits if you buy them, but in this case you have to buy more. For a development like Bitcoin, it is therefore more interesting to look at coins with a low supply. If you buy other coins where there are billions of coins, you can also make good profits, as you saw with the Dogecoin Hype 2021, but in this case you have to hold thousands of coins to achieve the same effect as with a Bitcoin 

-► How decentralized is it?    How many nodes exist,  How many masternodes are there? how high is the hashrate ?   Is there a CEO that can easily change the policies ?

-► What is the 24 hours trading volume?  - Low trading volumes over a long time show there is not much interest in a coin , while high trading volumes show that there are many participants  

-► Is a problem solved? What is the purpose behind the coin?  Many coins are copies of other coins, or are tokens that run on one of the big  networks like Ethereum,  Solana,  Cardano,  Tron  etc , but as long as these big networks aren't truly decentralized none of the tokens is. 

-► How many exchanges is it listed on? Are these Exchanges well-known exchanges e.g. Binance?  -   Many exchanges means  broad access for many users

-►How high are the transaction fees?  -  The lower the better 

-►How fast is the transaction?  - The faster the better

-►Is there a privacy feature?  -  If not your transactions can be traced 

-►how many active addresses are there? -  High number of active addresses indicate a big userbase  

-► How many transactions are there per day ? -  Same as above

-► How big are the social media communities ?  Is there action or  are the accounts quiet? 

-► Is there development progress?  - Check their github and official statements 

From our point of view, coins that have been around for a while, have a low supply and or are based on the Bitcoin blockchain are good candidates for ALTCOINS

These criteria played an important role in our selection of the coins we distribute via our features. 

When you invest your money, in most cases you don't want to simply invest it in any unsafe projects where you might then lose a large part or even the entire investment.

Unknown small coins are risky investments and you usually only invest small amounts in such projects. So most people will first notice the coins that have been around for a long time and that already have a good basis in terms of users, acceptance points and decentralization. Of course, there can also be a coin that suddenly takes off overnight due to a good marketing strategy and good marketing capital, but for this it also needs a good infrastructure. Because what do you want with a coin that is very good but can't be used anywhere? In such cases, prices will fall again and the money invested will then belong to someone else, usually the person who issued and promoted the coin.       

COINS LISTED ON CRINF.NET

BESIDES BITCOIN WE DECIDED TO LIST FOLLOWING COINS: mainly with the purpose to provide coins that can be used as money! 

RISK OF LOSS:

Most people hope to make a lot of money through an increase in the price of cryptocurrencies. This is certainly possible if you know the market and know how to trade. But only those who get there early or have a good hand at trading will be able to do this. On the other hand, there will also be a lot of losses, because where one person wins something, someone else must also lose something at the other end. Money doesn't multiply miraculously! The most and safest way is to get a good portion of Bitcoin! 

FUTURE OUTLOOK

In the long term, some cryptocurrencies will probably become firmly established besides Bitcoin. 

When it comes to using it as a means of payment, the following 3 factors are particularly important. 

♦ low fees

♦ fast transactions

♦ privacy features

In our opinion, coins that offer something like this, and are available on many exchanges and integrate their wallets with many providers have good chances. Coins must be usable. Therefore, the one that offers the necessary infrastructure will be better off than coins with a good idea but poor infrastructure. 

*This is not financial advice just personal opinion 

Our Number 1 Altcoin is PIVX due to the following reasons

♦ low transaction fees

♦ quick transactions

♦ privacy feature, the user decides which if the transaction shall be private

♦ older than 5 years

♦ stable user base

♦ Masternodes and In Wallet- staking concept for passive income 

♦Innovation: check out mypivxwallet  the unbeatable easy to use mobile wallet and PIVCARDS , the tool that allows you to spend your PIV instantly and privately for many goods and services in many countries,  

♦a lot of development and activity and new listings in 2023  and 2024 

*This is not financial advice but just an opinion, crinf.net takes no responsibility for any investments and decisions