What are altcoins?



What are altcoins? Logo

Most people have heard of Bitcoin at some point, but many novice investors are unaware that there are thousands of other cryptocurrencies. And when we talk about thousands, we mean thousands. The Marktkapitalisatie.nl counter has now reached over 2,600 different cryptocurrencies and tokens, and this number is growing very rapidly. All non-bitcoin cryptocurrencies are called altcoins. Altcoin is a combination of alternate coin or alternate bitcoin. However, it is clear what exactly is meant: all digital currencies except bitcoin. So, if we look at Bitcoin Cash, this currency is considered altcoins. While this is a Bitcoin hard fork, it is definitely not Bitcoin anymore.

Should you invest in altcoins?

Altcoins are very popular with investors. Most investors find altcoins interesting because they think bitcoin is “too expensive” and more profit can be made with altcoins. This is not entirely true, the price of bitcoins can be high, but an investor can only buy a fraction of the bitcoins. And if we look at the history of Bitcoin, we can conclude that there is enough profit to be made with Bitcoin. You can certainly make good profits with altcoins, but unfortunately not in all cases. It is unlikely that a 0.01 euro cryptocurrency will be worth 10, 100 or even 1000 euros in the future. Especially when there are billions of these cryptocurrencies in circulation. Always do your own currency research and don't listen to influencers on Twitter and YouTube. Don't blindly buy cryptocurrency after significant growth, but do thorough research. Altcoins often generate higher returns than Bitcoin in an uptrend, but often suffer severely in a downtrend.

Examples of altcoins

There are many examples of altcoins on our site. The most famous examples are Ethereum, Litecoin and Ripple. By clicking on the BtcNews, you can easily find additional information about these altcoins.