What is Altcoin?

Altcoin

Altcoin is an abbreviation for “Altanative Coin”.

It is a generic term for virtual currencies other than Bitcoin.

Most of them are based on Bitcoin, and their fundamental mechanism is the same as Bitcoin.

Ethereum is also an altcoin in the broad sense of the term, but since it has established a certain status, there are clear differences in its functions, and Ethereum itself calls itself “Fuel” rather than “Money,” Ethereum and altcoins are often referred to separately.

There are already more than 1,500 known types, and the number issued is increasing every year.

Typical altcoins include Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and Bitcoin Cash (BCH).

In recent years, trading of non-bitcoins has also become more popular through the services of exchanges.

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