For those just coming to terms with the terminology, Alt Coins refers to ‘Alternative Coins’, ie: alternatives to the mainstream coins which could probably currently be summed up as Bitcoin, LiteCoin, Ethereum and Dash. Those are the four big ones that most cryptocurrency investors aim to grab and hold if they are looking for the long-term profits that, in my opinion, will undoubtedly come. It’s just a matter of when, and what your appetite for risk is like.
Other coins may be more speculative but could have great long-term benefits.
If you buy alt coins during their ICO (Initial Coin Offering), there is actually very fast profit to be made. For example, Authorship Tokens (their name for their coins), are offering an initial value of $0.15 per token, but per Ethereum you contribute, you will probably get 11,000 of their token coins.
The thing is that one Ethereum will cost you probably around $350. So when Authorship goes live soon (they’ve already raised over $2,000,000) for the cost of one Ethereum, you get tokens worth $1650.00. And that would buy you around 4.7 Ethereum. It’s a reward for backing them at this initial stage of their venture.
It makes sense to me, and if they don’t reach the $3m mark, you actually get more. So I’m in! If it all goes pear-shaped, the $350 is not a lot to lose. However, most ICO initial values go up fairly quickly, so these tokens are something I’ll be holding onto long-term. If you do decide to go for them, you can also get a bounty of 75 tokens for anybody you refer to them, through this link.
Is it worth the effort? If this is your first venture into alternative coins, then it will be a learning experience, and everything we learn, we can put to use later. Well, that’s what I do.
And it’s not as if they don’t have a good plan and a practical use for the coins. They are primarily meant to be for buying books. They say, ‘Authors, publishers and translators are rewarded with ATS tokens in exchange to book sales, while readers are able to spend ATS tokens in order to purchase books.’
That said, they are based on the Ethereum ERC20 blockchain model, so you should be able to exchange your tokens for basically any other crypto coin.
Remember that in ICOs he or she who hesitates loses out. But as always, don’t invest what you can’t afford to lose. Because if you lose what you cannot afford to lose, you’ll have to start again at your beginnings, (and never breathe a word about your loss).