Altcoin, Explained.
By PHAGEON INVESTMENTS on Altcoin Academy
By reading our blog posts, I believe you had the chance to familiarize with the ins and outs of Bitcoin. Apart from Bitcoin, there are digital cryptocurrencies that exist that are not covered much by the media, examples of such currencies include Ether, Ripple, Monero, Zcash, and Dash just to mention a few. These digital currencies are referred to as the ‘Altcoins’ or alternatives to bitcoin.
Altcoin Definition
Just as I have mentioned above, Altcoins are alternative digital cryptocurrencies that were launched after the success of Bitcoin. Altcoins came up to serve as better substitutes to Bitcoin. Having emerged as one of the most successful peer-to-peer digital currency, Bitcoin paved the way for many other currencies to follow. Many Altcoins are trying to target any perceived limitations that Bitcoin has and came up with newer versions with competitive advantages.
Breaking Down Altcoin
Altcoin is a combination of words that is alt and coin. “Alt” meaning alternative and coin signifying cryptocurrency. Together they infer to a category that is alternative to the digital currency Bitcoin.
Bitcoin might be very popular and highly influential but it has some limitations like no buyer protection, fluctuation of bitcoin valuation and no valuation guarantee are some of the disadvantages that Bitcoin developers are trying to fix.
Why then did Altcoin come up? You may be asking.
Well, Altcoins tends to solve the above-mentioned limitations of Bitcoin. They are more secure, it makes faster transactions, it is less volatile and Altcoins are more private. It is important to note that the Altcoins are playing a very important role by expanding boundaries of blockchain possibilities and the scope of applications.
Bottom Line
Altcoins has more advantages and should not be sidelined just because of lack of enough information. Just like Bitcoin, it also offers good investment opportunities to those who are willing to invest in it. However, before you invest, make sure you do your research to ascertain that you are investing in the right place.
