With thousands of different crypto-currencies in existence... Which ones are actually worth using and supporting?

Posted by Rambler in Crypto (edited )

Seriously, there are apparently 4,600 - 7,000 ( src: https://e-cryptonews.com/how-many-cryptocurrencies-are-there-in-2020/ ) different currencies trading.

According to CoinMarketCap, the total number of cryptocurrencies is 6,955 with a total market cap of $324.716 billion (as of September 9, 2020). Coinlore offers a different count, listing a total of 4,621 cryptocurrencies. It seems like there are more than 4,928 cryptos in the market. But, that does not tell the exact number of virtual currencies in existence today.

With that in mind, how do you determine what is worthwhile?

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jack_walking wrote

  • The ones with a use cases
  • The ones with an established history
  • The ones with unique features
  • The ones with transparent development

Fact is, it requires ton of times and specific knowledge to check the previous poins.

As far as I'm concerned, I'd go with a portfolio of about 80% BTC, that I'd be reasonably sure to increase it's value with limited risk over a period of 5 years.

Maybe some unknown alt-coin may turn me rich in one night's time, but risks are huge; I'm not willing to invest my time, nor I have the knowledge, to look for the next crypto shooting star, and I'd advise anyone not to.

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