asked in Business+Finance by (48 points) 1 5
Altcoins, a different type of virtual currencies. Do you use it? Are they profitable? I guess every gambling site use altcoin now.
replied by ELITE (3,005 points) 3 10 14
This is the first time that I am getting to read about this coin. I feel that as long as they have a good team that will ensure that those that trade on it ain't going to lose a lot, then it is the coin to trade on. 

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4 Answers

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answered by Patron (2,970 points) 2 12 29
I personally never used altcoins, but I write about them a lot and obviously research a lot about them as well. Altcoins are good alternatives for websites that offer users ways to gamble (casinos, sports bettings, gaming online and so on). They are not such sought after coins in the market and in fact all you can do with them is pretty much use them to play online. Reliable websites do not accept them yet (sites like Amazon, and so on), as we are still slowly "trusting" bitcoins...I mean websites where you can actually shop .Altcoins are the poor brothers of bitcoin so I would not expect them to take the market anytime soon, after all not even bitcoin is so incredible anyways. I am a practical person, I want stuff to work and not have to wait forever or even have to find weird websites to use my coins. That is why I prefer old "real" money.
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answered by (120 points) 1 6
As an Investor of bitcoin and started to collect an alt coin last year hoping to ger big money to my investment online around September or October. Im already interested in crypto since I noticed Bitcoin price almost reached 20,000$  last year. Im just waiting for the altcoins to do the samething and sell it. Po.et, Vechain, HYDRO, Stellar and Ripple are the altcoin I currently watching out to hit. I invest in altcoin not only to get big money from it but can help to our future. Po.et is my number one pick when it comes to altcoin because it bridges the publisher and content creators it also help content creator to licence their material, and it can help publisher to verify the authenticity of the content before publication.
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answered by VISIONARY (9,003 points) 6 10 19
I have all kinds of  alternative coins to Bitcoin in my wallets.I try to claim them in multifauceted sites that we claim all kind of coins from.

I have dash,prime coin, peercoin, litecoin ,dogecoin and the rest that I store away to use in the future.

I use my altcoins to exchange for Bitcoin mostly, then will then exchange is with third party exchanger which could be a site or a person and then get my money in my local currency.

I will have always prefer to buy offline with my alticoin but unfortunately all cyptocurrencies are banned in my country and as such we can only use it online or exchange it to our fiat currency to use it offline.
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answered by ELITE (3,008 points) 2 6 13
Yes I use most altcoins for other digital transactions, they are mostly used for mining activities and also high yield investment program.
Since they have very low value compare to bitcoin they can easily be mine or claimed through faucets at high volume though their values are still at $0.001or lesser,  people also used them for betting and also be casino games.
Currently, I don't use mine for investment nor play games with them but store them and sometimes convert them to bitcoin for exchange with third party for local currency.
My next plan is to collect more these altcoins now that the price of the giant coin has fallen which has all other coins to fall too,  so their claim rate on faucets not are kinda high, it is good time to have them for future exchange to bitcoin.

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