The past few weeks we have seen the popular emergence of coins on the market that have exceedingly high circulating supplies and usually valued at worth under a penny reaching gains of an amazing 1000%. Coins such as Reddcoin, Paccoin and Colossus Coin have been such benefactors of this wave, with some of these even hurtling towards the top 50 brackets on coinmarketcap.com. But what is it that is driving people crazy for these coins then? Well the prices are very attractive, currently you could pick up 5000 COLX for a $100, not bad at all considering you could make huge gains if its market cap exceeded the level of $100 million.
However the one thing that all these coins have in common is that they are usable for even the smallest of transactions, which makes small payment transfers a lot more cost efficient compared to other cryptos. This is due mainly to the fact not many of the coins are that well used so will have efficient payment streams, but also the transactions fees are so minimal as they use only small pockets of data for transfers. People see them as a great alternative to using Bitcoin and others as no one wants to pay $30 when you just wanna send $10, and these can do just that. Plus many of the emerging ones on the market have very low market caps and some pretty good potential as well, so they are also a worthy investment. But as always these are going to be high risk high reward situations, however entirely feasible with a reasonable investment in a bull market.
However some of the projects of this nature are without doubt bogus and provide no real infrastructure or plan to what service or product they are proving. You can usually tell by a bad website, because if you can't write a good website, you can't be trusted to deliver a good crypto. These result in people using them solely for the purpose of inflating the price to ridiculous levels before taking all the profits, and some people will see a new coin rising like this and think it's a good time to get on. So don't make this mistake, only invest in what you believe in.