Top 10 Reasons To Be Watching Altcoin Daily

Top 10 Reasons To Be Watching Altcoin Daily

What is an altcoin?
An altcoin is an alternative to bitcoin – the crypto that started it all. Given bitcoin’s popularity, many other cryptos have launched to try and cash in on the crypto craze. Most of the altcoins that’ve been released are built on the blockchain technology that spawned bitcoin, and this technology is already supporting more secure and efficient ways of transacting business and transferring assets. Because of the expansion of cryptocurrency in recent years, and the wave of developers and programmers looking to cash in on the rise of alternative payment systems, the altcoin market is flooded with choice.

What’s the future outlook for altcoins?
The future outlook for altcoins is mixed, and the expanded use of crypto as a mainstream form of currency will no doubt be needed for altcoins to catch on in the mainstream. For now, they’re relegated to the side lines of the crypto space – with bitcoin reigning supreme, with that trend set to continue for some time. May was a tough month for many cryptocurrencies as the price of Bitcoin (BTC) fell to lows we haven’t seen since January. Prices are beginning to show signs of recovery, but that doesn’t mean we’re out of the woods yet. June may still see other countries joining Turkey and China in cracking down on cryptocurrencies. We can also expect more U.S. crypto tax announcements as the government tries to get tough on tax avoidance. However, several analysts do believe Bitcoin’s price has bottomed out, according to The Independent. And even if they’re wrong, several altcoins should be on your watch list this month. Altcoins are any cryptocurrency that is not Bitcoin — so named because they are an alternative to the world’s biggest digital currency.

Benefits of Altcoins
Since these are supposed to be improvements, they come with a reduced cost of both the complexity of mining and transactional fees. They also provide a lot of competition as the rules are altered. As the name suggests, a major pro is that if bitcoin does falter sometime in the future, all these others will serve to be beneficial alternatives. Functionality can differ for each coin which makes them unique. For instance, Po.et is built for a platform where content creators and publishers and work on their licensing. Dahs and Ripple benefit from speedy payments as Ripple is created to make cross-border transactions easier. Dash has been known to process 1 transition per second, which is a huge superior element. Ethereum and XRP are two other Altcoins that have gained quite a following and are used widely now because of smart contracts and a decentralized app, etc.

CryptoCryptid is a channel focused on diving into the realm of cryptocurrency. Crypto like bitcoin and dogecoin. Covering the latest cryptonews on live crypto and cryptotrading and diving deep into platforms like Binance, Cardano

source