As Bitcoin is the first cryptocurrency that captured the world’s imagination, all other coins were subsequently termed “altcoins,” as in “alternative coins.”
Altcoins are all cryptocurrencies other than Bitcoin and Ethereum. Bitcoiners like to stress that Bitcoin is not a cryptocurrency but its own category. However, there is no difference between crypto and altcoins.
There are several different types of altcoins.
Payment tokens focus on payments as their main use case. These tokens are often not considered to be "real" cryptocurrencies since they tend to be more centralized.
Altcoins have several different pros and cons.
Variability: There are thousands of altcoins, each with its own unique use case.
Innovation: Altcoins bring new and innovative solutions to the market.
Volatility: Altcoins are much more volatile than Bitcoin or Ethereum.
Illiquidity: Altcoins are also much more illiquid and can drastically oscillate in value.
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