What is ALTCOIN

MORE ABOUT ALTCOIN

“Altcoin” isn’t the name of a cryptocurrency. Rather, the term “altcoin” describes any cryptocurrency alternative to Bitcoin. For example, Ripple, Litecoin, and Ethereum are all technically “altcoins.” With that in mind, people generally use the term to describe coins with lower market capitalizations. On this site we say “major alt” if we mean coins with the top market caps that aren’t Bitcoin, and we say “minor alts” to describe all other cryptos

WHAT WAS THE FIRST ALTCOIN?

Created in April 2011, Namecoin was the first altcoin. Although it also functions as a currency, Namecoin’s primary purpose is to decentralize domain-name registration, which makes internet censorship much more difficult. As its place among the top ten cryptocurrency market caps suggests, Namecoin has remained one of the most successful altcoins throughout its short lifespan.

SHOULD I INVEST IN ALTCOINS?

Due to how recent cryptocurrency was invented and how rapidly the landscape changes, all cryptocurrency investments carry a great deal of risk. Even Bitcoin–by far the most stable cryptocurrency–exhibits price volatility on a regular basis.

To avoid losing your money in a pump and dump, focus on long-term investments in coins you believe have immense potential and exhibit overall health. Generally, healthy altcoins possess strong communities, exhibit high liquidity, and have developers who proactively improve the coin’s source code.