Number of currencies passes 1500

There are now over 1560 digital currencies on the Coinmarketcap page, and probably just as many coins that have had ICOS but not yet listed on the site.

This is a dramatic increase from just over a year ago where there were less than 700 currencies listed, and suggests that the digital currency revolution is gaining momentum rather fading away. However, the increased flood of currencies does create some market flooding, and price deprecation as the market becomes more liquidated. Some of the challenges of having so many coins as an investor is to choose a coin that offers a unique service, without alot of overlap or redundancy. For example, many coins claim to do the same thing, and for investors, the basic question is, “why would I choose one coin over another if they are both providing the same service.

Keep in mind that the basic concept of many crypto coins is being able to send money with lower costs, but there are also considerations, such as:

speed of transfer

ease of use

number of coins in circulation

price of coins

and much more.

There is a ton of opportunities for investors who want to take a chance and gamble on a coin, but it usually pays to do the research on a coin before dipping into it.

For example, coins that have been in existence longer, usually have a better establishment as far as the coin’s integration. They may also have greater financial reserves because of larger investment audiences during their ICO because of less competition.

There are also countless issues of people getting ripped off by scams, or people investing in ICOs who take the original funds and never use them to complete their objectives.

However, the allure of coin collecting, and the possibility of making some rewards of on your coins is always an exciting prospect, which is probably why coin collecting is such a fun and important thing in the 21st century.

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