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Altcoins Explained

Believe it or not, Bitcoin is not the only cryptocurrency! There are thousands of cryptocurrency alternatives to Bitcoin available today each with unique differences, functionalities, and purposes.
Semantics: “Altcoin” isn’t the name of a cryptocurrency. Rather, the term “altcoin” describes any cryptocurrency alternative to Bitcoin. For example, Ripple, Litecoin, and Ethereum are all technically “altcoins.” With that in mind, people generally use the term to describe coins with lower market capitalizations. On this site we say “major alt” if we mean coins with the top market caps that aren’t Bitcoin, and we say “minor alts” to describe all other cryptos. See a list of altcoins.

Altcoins: Cryptocurrency Alternatives to Bitcoin

Simply put, altcoins are cryptocurrency alternatives to bitcoin. In general, altcoins work very similarly to bitcoin. However, there can be some minor differences between different coins. Below is a list of the most important facts about altcoins:
  • Bitcoin is, by far, the most popular and widespread cryptocurrency. As a result, the bitcoin market is extremely competitive and it’s difficult and expensive for beginners and amateurs to get into.

  • Most altcoins on the other hand, are much less popular, much less competitive, much less expensive, and can ofter even be mined by beginners with CPUs. There are even some CPU-only coins!

  • There are thousands of different Altcoins! They vary mostly in popularity, price, and technical details.

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