While, earlier articles dealt with Bitcoins, the first Cryptocurrency; today we will get to know, What are Altcoins?
- 1 What are Altcoins? An Insight to Altcoins
- 2 Number of Altcoins
- 3 Best Altcoins to invest in
- 4 Value of Altcoins
- 5 Market Capitalization of Altcoins
- 6 What can Altcoins Offer?
- 7 Trading Options with Altcoins
- 8 Investment Options with Altcoins
- 9 Where can you get your Altcoins at?
- 10 Risk associated with Altcoins
Beside Bitcoins, there exist several other smaller Digital currencies, which may or may not follow the same economic model as Bitcoins. Simply, you can say that Altcoins stands for Bitcoins alternatives. They are all other coins except Bitcoins.
As of writing this article, there exist more than 1604 altcoins in the world. The number is growing each day, and who knows, by the time you read this post, there are many other additions already done.
While, Bitcoin is the most popular Cryptocurrency in the world, the other Altcoins are also gathering huge attention of the investors and traders all over the world. Among the popular list of Altcoins; Ethereum, Ripple, Bitcoin Cash, Monero, Dash, EOS, Cardano, Litecoin and many others are considered as the Best Altcoins to invest in
The price or value of each Altcoins differs. While, Ethereum is currently trading at $723, the Ripple’s value for each coin stands at $0.85. While, Altcoins like Tron currently stands at $0.09, we can’t predict if by the time you are reading this article, its value will be $1.
The overall Cryptocurrency Market Cap currently stands at $437,890,604,997. Among this, the total market share, the Bitcoin Market share is $156,832,656,049, thus accounting to around 35% of the total value. The rest Cryptocurrency Market Cap belongs to all Altcoins all together.
Taking out discussion ot the next level, What are Altcoins?; Here is the list of Top 10 Cryptocurrencies by Market Capitalization (as picked up from coinmarketcap)
Just like Bitcoins, all Altcoins are focused towards the digital concept of payment and dealing as a digital mode of payment. For example, Ripple has the complete focus on the banking mode of transactions and has already been adopted by several banks all around the world. Such Altcoins hold several advantages over Bitcoins and have enough leg to continue in the long term future.
When it comes to the trading concept, the Altcoins offer a very good opportunity to the traders to deal with those and earn a handsome amount. Since, it has been seen that the Altcoins are far more volatile in comparison to the Main Leader, Bitcoin; the options of short trading are also open in front of traders.
At the same time, the people who are called as investors also have a great opportunity to grab some of those Altcoins in really very low rate and keep them as an asset for the future. Who knows, you bought 1 Tron worth $0.08 today, and 4-5 years later, it is valued at $10k. The same happened with Bitcoins some years ago and nobody knows the next Bitcoin may be Ethereum or Dogecoin!
There are several exchanges, which offer you a chance to grab your favorite Altcoins. Many exchanges all around the world like Coinbase, Binance, Indian Exchanges like Koinex, Zebpay, Coindelta and others are just to mention a few, which features several Altcoins and offer you a chance to deal with Altcoins.
There are several risks associated with Altcoins when trading or investing comes. It has been seen that several Altcoins run on the basis of news and drama created around. Since, they are volatile, the price fluctuations are very high and one may either gain or lose a lot in quick time. Also, there are several cases, when an altcoin have gone delisted in many exchanges. So, invest or trade at your own risk!
Lets hope that this article on What are Altcoins? have provided you with sufficient information on Altcoins!