Are there too many different cryptocurrencies?

[Grant]

Do you think there are too many different cryptocurrencies out there? With each day that passes I feel like we get a new currency every day. A lot of the time they are fake and possible scams, and I always tread with caution.

Do you worry that the market is too crowded with different kinds of cryptocurrencies? Has it caused you any issues?

 

[Skysaint]

I honestly think so. There's so many cryptocurrency right now in the market and it's making the cryptocurrency space not to be very lucrative as there are so many cryptocurrencies preventing investors from focusing on the already existing and popular ones.

 

[Imran_Noori]

Do you think there are too many different cryptocurrencies out there? With each day that passes I feel like we get a new currency every day. A lot of the time they are fake and possible scams, and I always tread with caution.

Do you worry that the market is too crowded with different kinds of cryptocurrencies? Has it caused you any issues?

There are many crypto currencies that have no usage, some corrections in the market cause the shit coins to die and this is good because crypto is not for meaningless things.

 

[Nomad]

LAt time I checked there were 8k crypto coins and crypto tokens. Interestingly a large numbers of these coins na dozens will never known to most people. Creating a token is just a work of few hours if you know how to do it.

 

[Shortie]

I am still learning so much about cryptocurrency and the more I learn the more I find out how many different kinds of cryptocurrencies there are. I do feel that to an extent it is a little too crazy with how many there are and I tend to stick to the ones I know people use the most such as Litecoin, Ethereum, and Bitcoin. I do know there are more that people use and trust but these are the ones I have come across.

 

[Abigael]

Yes, cryptocurrencies are so many nowadays. They seem to be coming up daily. When you look at CoinMarket Cap for example, you will find hundreds of new cryptocurrencies. You have to be really careful which ones you invest in because not all of them are legit.

 

[Smiles20]

They are much much much more cryptocurrencies available now. In fact they are different cryptocurrency that most of us don't even know That available much more available.

 

[Robust]

Actually there are some many crypto currencies than one can not make them all, we have crypto currencies such as: bitcoin, bitcoin cash, eutherum, smartcoin, litecoin, perfect money and others.

 

[Sotherefore]

Out of thousands of cryptocurrency in existence if you calculate the few that are highly potential , you will come to find out that the percentage of reasonable cryptocurrency in existence is not really high compared to the numbers of cryptocurrency in existence.
I believe more cryptocurrency will be discovered as the world progresses with its own unique feature.

 

[Danny4cash]

There are many coins available today. Some are in market while some are not. It's not an overstatement if I say new coins are emerging everyday. To me, the coins are not too much.

 

[GoldenLady]

The large number of available coins can be attributed to lack of regulation. Some are just meme coins with no value. It's our responsibility then as investors to do proper research on what is right and what is scams

 

[AruneBend]

Do you think there are too many different cryptocurrencies out there? With each day that passes I feel like we get a new currency every day. A lot of the time they are fake and possible scams, and I always tread with caution.

Do you worry that the market is too crowded with different kinds of cryptocurrencies? Has it caused you any issues?

I think so yes there are so many cryptocurrencies that are not worth it only a few currencies are worth investing and many peaple don't even know them

 

[Modar]

There are indeed a lot of cryptocurrencies... I would like to have only 3 main and main cryptocurrencies, for example, the most popular ones: Bitcoin, LiteCoin, Ethereum. to avoid confusion about the quantity and which is better and which is not.

 

[Kennysplash]

I have said it once that there are far too many cryptocurrencies that it is so confusing now. Few years ago we have just a few, but now we don't even know which one to trust and invest on.

 

[Mayorla]

Yes, There are too many cryptocurrencies, and most of them have the same use case.

Everyday You would see hundred of tokens been added to the ecosystem.
This would cause an increase in rug pulling and it would make identifying of scam coins difficult.

 

[Jonaville]

Do you think there are too many different cryptocurrencies out there? With each day that passes I feel like we get a new currency every day. A lot of the time they are fake and possible scams, and I always tread with caution.

Do you worry that the market is too crowded with different kinds of cryptocurrencies? Has it caused you any issues?

There are so many cryptocurrencies out there and it may even make you to be confused whenever you want to invest in cryptocurrency. We should just make sure that we do not invest in the fake currencies.

 

[Ononivami]

I do not see any remarkable difference between cryptocurrencies because all of them are decentralized form of currencies but the market capitalisation is the only sharp difference that is recognisable.

 

[Planbizzle]

Do you think there are too many different cryptocurrencies out there? With each day that passes I feel like we get a new currency every day. A lot of the time they are fake and possible scams, and I always tread with caution.

Do you worry that the market is too crowded with different kinds of cryptocurrencies? Has it caused you any issues?

With thousands of different crypto tokens presently trading, investors may have a hard time keeping track of every one of them, and the sheer quantity of tokens renders it impossible for any one token to stick out. Furthermore, the abundance of tokens has contributed to an absence of market credibility.

 

[Abigael]

I have said it once that there are far too many cryptocurrencies that it is so confusing now. Few years ago we have just a few, but now we don't even know which one to trust and invest on.

That is right. There are too many of them right now. People get confused and undecided on which one to invest into. It is advisable that one should be really cautious which one they choose. Some of them don't have great projects.

 

[eenya00]

I believe there are too many crypto currency, we have more than twelve thousand crypto currencies which I think is too much and this can cause confusion on what to invest in.