successThere are more and more Altcoins entering the Ecoin marketplace all the time. One of the big questions in the Ecoin community now is if Altcoins are a fad or have real staying power.  This is obviously an unanswerable question.  I believe that Altcoins do have a long-term place in the future of E-currency.  The web is all about long tail and customization.  Most new Ecoins have a unique feature that makes them different than other coins.

Altcoins may be the long tail of currency.

Namecoin has unique features in the blockchain. Quarkcoins have a unique feature for inflation.  Infinitecoins have a unique feature to keep transaction costs low. Mastercoins are designed to leverage the Bitcoin blockchain and address existing Ecoin issues with security and refunds, as well as offer the ability to make your own Ecoin. Also Altcoins already represent a significant market share of all Ecoins which means people are following them and trading their Bitcoins and Fiat for Altcoins.  For now I am constantly researching and acquiring Altcoins. I like to spend some time reading up on the features of the new Ecoins and trying to pick out the most interesting. A question I typically ask is “what about this Ecoin makes it unique?” and “does that unique feature seem to be something that will excite the market and community?”

Monitor Bitcoin Talk Forum

Most Ecoins start as a developer project and are announced in popular Ecoin forums. Recently new Ecoins start with a fundraising campaign that typically involves first adopters getting to trade existing coins (Typically BTC) for the new Ecoins at a better exchange rate than will be available when the new Ecoin starts trading. Examples of this are Mastercoin and Netcoin. If you want access to these early Ecoin opportunities, monitor the Bitcointalk Forum for new release announcements and insight.

Review Cryptocoin Charts

After an Ecoin gains momentum, it will start to be traded on an Ecoin Exchange. I spend time monitoring these exchanges for new Ecoin exchange match up. One of my favorite tools is Cryptocoin charts.  These charts are an easy way to see which Ecoins are trading and the Ecoin’s recent momentum. Typically you will see at least one or two Ecoins that are making big moves (over 25%+ in the last 24 hours).

Pick your favorite Ecoins

It is very difficult to pick which one of these movers is going to break out.  We typically exchange our LTC or BTC for four or more of these movers at once. This seems to increase the likelihood that we will pick the fast mover of the week. Last week, we picked Devcoins which moved up about 200% on the week.

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