How popular is altcoins to Bitcoin
Hello dear friends hope your day is going well.
I had another chat with me friends yesterday, and they were arguing bitcoin and Altcoin. But how popular is altcoins.
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The rising popularity of altcoins has continued to grow over the last few years. Some of these alternatives to Bitcoin have shown more future potential than others and you can expect this trend to continue into the near future. Over time, as these alternative options mature, we could very well see them become widely known as a viable option and possibly even be used in some form of crypto currency back up plan; especially if something actually happened where everyone had to choose which coin they wanted to use in the case of an emergency or major crisis.
Altcoins are alternative cryptocurrencies launched after the success of Bitcoin. The term altcoin refers to any cryptocurrency other than Bitcoin, or that is derived from Bitcoin’s source code. Currently there are over 500 altcoins in existence, with the most famous ones being Ethereum, Litecoin and Dogecoin.
While there are plenty of different altcoins to choose from, some of these altcoins will grow faster than Bitcoin and others have specific use cases that make them standout. The common thread between these coins is that they are all very likely to increase in value over time.
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Altcoins have been growing in popularity over the last few years. Some of them have shown more potential than others and you can expect this trend to continue into the near future. Over time, as these alternative options mature, we could very well see them become widely known as a viable option and possibly even be used in some form of crypto currency back up plan; especially if something actually happened where everyone had to choose which coin they wanted to use in the case of an emergency or major crisis.
Conclusion
Alt coins are growing in usage and acceptance. They could be a viable option for the future.
To me btc is the king. The reason that it was the first that came out made a lot of people to believe in it. If you studied cryptocurrency alot you will see that it is alt coin that brought a lot of great things to cryptocurrency.
Yes since altcoin brought this innovations a lot of people's live changed. Thanks for your reply
Hi cannot agree with you more. The charm of altcoins is in their ability to grow at a pace faster than BTC
However that can also be the trap that can lead to investor wealth erosion and loss of faith in crypto to one should be cautious for sure.
Yes one should be very cautious for sure investing, @thetimetravelerz thanks for your reply
Well, I'm of the view that most altcoins (maybe +90%) are going to disappear or gradually die in the future simply because most of them are either scams or forks of other projects... Of course, the likes of Ethereum, Cardano...and other blue-chip alts are most likely to have a bright future
Thanks for sharing :) @cryptocheta