What does altcoins mean?

Altcoins refer to cryptocurrencies other than Bitcoin. They were developed as alternatives to Bitcoin and aim to address its limitations or offer unique features and use cases. Altcoins are typically built using blockchain technology and have their own independent networks and protocols.

Some popular types of altcoins include:

  • Ethereum (ETH): A blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
  • Ripple (XRP): A digital payment protocol designed for fast and low-cost money transfers.
  • Litecoin (LTC): A peer-to-peer cryptocurrency that offers faster transaction confirmation times and a different hashing algorithm than Bitcoin.

Investors and traders often diversify their portfolios by investing in altcoins alongside Bitcoin.

Last updated 10/23/2023, 7:08:25 AM

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