Altcoin, What Is


Undoubtedly, when talking about Cryptocurrencies the first thing that comes to mind is Bitcoin. But it turns out that Bitcoin is not the only cryptocurrency out there.


Any cryptocurrency that was founded after Bitcoin is an Altcoin. It is possible that some alternative cryptocurrencies (altcoin) to Bitcoin are based on it or not. The idea is to make improvements to the technological development that Bitcoin entailed or to have applications in areas that have not been covered by a blockchain project until now. There are cryptocurrencies focused on privacy, payments, transaction speed, low transaction costs, digital money loans, gambling, video games ... the list is quite extensive.


Therefore, any digital currency other than Bitcoin is an Altcoin. Not all altcoins are successful, so it is important to know about the project, the support it has, the problem it solves, and the community that accompanies it. Lest you end up investing in a shitcoin.


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Author 2021-07-03