With over 10,100 different coins tracked by Coingecko.com and nearly 22,500 digital currencies monitored by Messari, there is no shortage of cryptocurrencies in the market. The low barriers to entry have been joked about since 2014, but the truth remains that only a handful of coins can be counted on to hold or increase in value over time.
However, not all of these coins should be considered true investments. Some are experiments, while others are deemed more serious, though all might aim to make their mark on the crypto market. Unfortunately, there are also those who are solely looking for quick returns, making them a dangerous place to invest money.
One such coin in the grey area is Bitcoin SV (BSV) – a rebel hoping to shake up the crypto market with different ideas, yet without realistic chances of competing with the industry giants. Its code has been updated through multiple hard forks to introduce new features and patch bugs, and the current version is accepted as the most widespread.
This coin sees itself as the true Bitcoin, yet by preserving an outdated design, it does not belong in any serious investor’s crypto portfolio. Bitcoin SV exposes its users to vulnerabilities that have already been identified and corrected in the main Bitcoin chain – making it a coin to steer clear of.
The Motley Fool has positions in Bitcoin, Bitcoin SV, and Coinbase Global. The Motley Fool has a disclosure policy.