2,600 altcoins exist that have made it onto exchanges. There are only 8 really good coins.
IOTA
VeChain
Elastos
BAT
DENT
ENJ
BNB
HOLO
Then, you have around 20 quite good coins that are really promising, but that haven’t managed to get traction yet or haven’t launched yet (QASH, RLX, FUN, Civic, THEKEY, WePower, XPLAY, Edgeless, Cindicator, Fusion, DBC, Aeternity, REQ, Nano, Nebulas, SKY, Ethereum, APPC, Cardano, MatrixAI, Quarkchain, PowerLedger, Nexus, Maker)
Then come around 570 alright coins that have a good purpose a good team and a good go-to-market strategy, and some partnerships but no special uniqueness or no outstanding tech that sets them apart from competition, or they suffer significant decentralization flaws, because they are permissioned and non-trustless, which is simply a no go if you want to be decentralized (e.g. OriginTrail, PundiX, Poet, Komodo, NEM, ARK, DRGN, LISK, Stratis, ARDR, Rchain, EOS, Waves, Zilliqa, Icon, Monero, PIVX, Enigma, Augur, SUB, Steem, KIN, Dash, Syscoin, Storm, Wax, Mithril, Siacoin, Maidsafecoin, Gbyte, Storj, Golem, Elf, PRL, ZRX, WTC, NEO, Stellar, Ontology, Neblio)
Then, you have around 1,000 significantly flawed coins that simply have big flaws and have no intention to change them or simply not that much of a good product (TRON, Litecoin, Dogecoin, GameCredits, Lymp, Monaco, Groestlcoin, QLINK, Chainlink, Bytom, Digibyte, Decred, Zcoin, BTCP, Navcoin, Populous, Monacoin, Factom, Revain, Bitshares , Cryptonex, Kyber network, Bancor, Achain, Dentacoin)
Then, you have another 1,000 shitcoins that are outright scams(e.g.Quatloo, Titcoin, Metalmusic coin, Macron, Russia Coin, TrumpCoin, MetalMusicCoin, Bitcoin Diamond, Bitcoin Gold, Verge, Bytecoin, Bitcoin Diamond, Ethereum classic, Veritaseum, Hshare)
Conclusion
Out of all the 2,600 coins, 1,000 are outright scams, which makes 39% of crypto outright scams.
Then you have another 1,570 coins or 60% of coins that are kind of trying, but that simply have big decentralization flaws or already 5 competitors and no uniqueness about them. So you can’t really call them scams, but more half-hearted attempts.
Then, you have 20 coins or 0.8% that are quite good and really promising, but that still have a way to go and show traction.
Then, you have 8 coins or 0.3% that are outstandingly good, already have millions of users.
So, all in all, there are only 1% of the total coins that you need to worry about and do research on and 99% of coins aren’t worth pursuing.
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