Quote from: Wiwo on January 04, 2024, 11:36:25 PM

Quote from: irhact on January 04, 2024, 11:28:39 PM

Quote from: Wiwo on December 27, 2023, 05:52:47 PM

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?

When there are network congestion in Bitcoin Blockchain I don't use other altcoins that are very volatile, I use stablecoins instead. Stablecoin as Usdt on the Tron network or other network that don't need alot of fees or confirmations for the transaction to be approval are what is important when Bitcoin has congestion problems and not other altcoins. Altcoin are too volatile to be relied on during transactions as you can send $100 transaction and it can dump to $80 before the transaction is confirmed.

Altcoins don't waste time to confirm but they're not as reliable as Bitcoin or stablecoins. If I'm not using Bitcoin it'll be stablecoin. I only use altcoins for profits and not for transactions. When I invest in an altcoins, I want to make profits from them when the price rise and not to use them for transaction. Stablecoin are more preferable to use as they can be used in all Blockchain and not only depending on the Ethereum Blockchain as it was before.

Using a highly volatile altcoins as an alternative to bitcoin when there is network congestion will further put you at risk of losing more because if anything happens along the way while you trying to move the coins around it will result in potential losses unless you are ready to wait for the price to recover at some point in time, which you may likely not want to or not having the time to wait.

Instead of using volatile altcoins as an alternative, it is better to just stick to Bitcoin and pay the high fees to avoid such losses while seeking alternatives, but stablecoins are the best for this kind of situation.

Well, if you happen to switch to altcoin to avoid bitcoin congestion problem, then it got affected with it's volatility in a negative way eventually, like what you've we do have the option to wait for it to pump back at some point. However, if the reason for the transfer is to get that money or withdraw that money once it is confirmed to your wallet, then I don't think it's worth the risk. Especially with large transactions, it could definitely make a huge difference that would hurt your pocket.
Sticking to bitcoin on a lower transaction fees might get confirmations after a few days - I think that would be a-ok. But I second that stable coin are the best for the kind of situation, because it avoids the volatility most importantly.