A Detailed Guide On What is Altcoin, Trading Altcoins & List of Altcoins

coinpedia.org
7 min read
standard
Altcoins or alternative coins are trending for months. Find out more about trading altcoins, altcoin price, list of altcoins and much more.
As the Bitcoin trend is emerging, I'm pretty much sure that you must have heard about Cryptocurrencies and Altcoins. You might have heard in the news or through some websites or you just explored it by yourself. Maybe you don't know where to start with or how to use it.

No worries!! Here is the detailed step by step guide, specifically for you. As you will get everything right from the initial setup to buying your first coins.

Let's get started…

In this article, we will cover all these topics and provide you the complete guide to the altcoin, Let us look into this review in detail now,

What are Altcoins?

Altcoin, or an alternative digital asset, is a term used to describe cryptocurrencies other than Bitcoin. BTC is often viewed as the original cryptocurrency, while other digital assets provide alternative solutions to crypto users.

Altcoins are similar to Bitcoin. They are cryptocurrencies that use a technology called blockchain that allows secure peer-to-peer transactions. Altcoins build on the success of Bitcoin by slightly changing the rules to appeal to different users.

According to CoinMarketCap, there are nearly 5,400 cryptocurrencies on the market, and none of them have managed to take over Bitcoin's leading position since the inception of the digital asset industry.

The Brief History of Altcoins

The history of Bitcoin started in 2009 when the mysterious Satoshi Nakamoto created the world's first cryptocurrency. The year 2011 marks the birth of altcoins when Namecoin (NMC) emerged as the first cryptocurrency ever created after Bitcoin.

While Namecoin was the first digital asset after Bitcoin, its position as the second-largest cryptocurrency was soon taken by other altcoins. One of them is Litecoin (LTC), a cryptocurrency that is very similar to Bitcoin.

In August 2013, Ripple (XRP) joined the ranks of cryptocurrencies. Then one of the important events in the history of altcoins was the birth of Ethereum in July 2015. Since then, thousands of new…
Qadir AK, Qadir AK
Read full article