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What are Altcoins?

  • Thread starter Thread starter Phavik
  • Start date Start date

Phavik

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The cryptocurrency industry is deluged with thousands of coins. The majority of them are altcoins with different use case. Early on, it was bitcoin that dominated the market. After that, it was bitcoin with everything else. So, anything that wasn't bitcoin, were referred to as altcoins.
 
Every other coin that is not Bitcoin is an altcoin, which is one way to know that BTC rules them all. Still, BTC needs altcoins as they develop projects that help to sustain and solve problems that arise in the cryptocurrencies niche.

Altcoins also have more volatility than Bitcoin, which means one can make higher returns with them than with Bitcoin due to their lower market cap. It means less money is required in the market to make significant changes in their price.
 
Litecoin forked form bitcoin in 2011, that's how world's first altcoin was created. sadly litecoin never became a profitable altcoin.
 
Nomad said:
Litecoin forked form bitcoin in 2011, that's how world's first altcoin was created. sadly litecoin never became a profitable altcoin.
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It will still be profitable. I have a hope about it. It is just sad that a lot of people lost their money into it.
 
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