What are altcoins?

Altcoins, short for alternative coins, are any cryptocurrencies that are not Bitcoin. They were created as alternatives to Bitcoin to address its limitations or to introduce new features and functionalities. Altcoins are built on different blockchain platforms and utilize different algorithms for transaction verification.

Some popular altcoins include Ethereum, Litecoin, Ripple, and Bitcoin Cash. These altcoins have their own unique features and use cases. For example, Ethereum is known for its smart contract capabilities, while Litecoin focuses on faster transaction speeds.

Investing in altcoins can offer diversification and potential for higher returns, but it also carries higher risks due to the volatility of the cryptocurrency market.

Last updated 9/30/2023, 2:36:52 PM

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