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.
Agreed on the presence of double taxation when you move coins around in a region where cryptocurrency trading are well taxed, and regardless of what it may in terms of amount in taxation, when compared with how difficult and tiring that process could be, one may decide to just use Bitcoin and pay the network fees regardless of how much it may be at some point.
Although those altcoins are there to offer alternatives to Bitcoin in the best possible manner at the needed and right time for both investor traderswhoseo Bitcoin is already on the exchange and not on custodial wallets.