Post
Topic
Board Altcoin Discussion
Re: Have we overlooked the many potentials of altcoins?
by
wheelz1200
on 03/01/2024, 20:46:11 UTC
A lot of times we have been down so much away from the role altcoins play in the cryptocurrency industry,  because there is no doubt the fact that many times,  we have come face to face with issues and challenges that make us to look for an alternatives,  and which is the reason for altcoins creations already,  such as fees,  congestion and speeds.

These have been most of the challenges that we face in the cryptocurrency industry with majority of the time our preferred coin may face network issues and we need to look for alternatives,  this has made it very important for us to discuss the best possible means to make use of altcoins as alternatives when there be network crisis.

What are the best coins to use at a time when there is network congestion in the main meme pool?

Using litecoin to move bitcoin is a tried and true way to move in and out of positions rather cheaply.  The problem that exist at least for US customers is that every trade triggers a taxable event.  So when you move from bitcoin into litecoin and then to and exchange into another coin you've essentially doubled your taxable responsibilities.  As long as you can track everything cleanly it's not that bad but tax laws make it annoying to do so.