What is altcoin?

Altcoins considered as Bitcoin alternatives.

There are hundreds of altcoins and more adding to the list every single day each day. Generally, altcoins are seen as Bitcoin copies.

The difference usually the transactions speed, distribution system, hashing algorithm. Many new coins don’t survive for long time. Some do very well like Litecoin, which is one of the first altcoins.
In addition to using a different hashing algorithm than Bitcoin, Litecoin uses different hashing algorithm and offers a much higher number of currency units.

Altcoins (potentially) can be very profitable investments. To explain simply investing in altcoins is like trading penny stocks.

If you find the right one you can invest very small amounts of money or in a wide-reaching portfolio. Make sure you do your research and pick the coin that you think have the best chance of long-term success.

Just like bitcoin back when only cost pennies and look at it now hitting $18.000.

Please remember, cryptocurrency market is volatile, so be aware of the risk. Read and learn. Investment is not gambling.

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1 Response

  1. 13/06/2018

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