I have a lot of questions about the cryptocurrency market.What is the role of so many cryptocurrencies?I feel that there is no other use besides hype.
You are right. Even almost all the crypto currencies are promising some special reason for their existence, they are not having any unique feature to justify their existence. Almost all of them are just an approximate clone of bitcoins but having a modified mining algorithm or having some enhanced features added. Nothing else more than that we can expect with most of them.
bitcoin gives a proves in some country, and you can see that there are ATMs installed in that country so people can use the machine.
Except bitcoins, most other coins are just the existing and simply following bitcoin for having real-life applications. Simply we can say they are all just here for no reasons in the view of a payment processor. ATMS are not an innovation of cryptocurrencies and BTMs are being installed for the reason providing people easy access to cryptos.
Besides that, we can use bitcoin as another payment system by using the third party, so we don't need to confuse about converting from fiat to bitcoin because they already calculate the converting.
Bitcoin is itself a payment process on its own but we need third party support when we do think about converting it into fiats to escape from price fluctuations. This can be a case against any altcoins too as altcoins are also heavily fluctuating.