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What is an altcoin?

What is an altcoin?

The digital currency market is one of the financial markets that has generated high income for investors in the last few years, and this has caused a lot of capital to be attracted to this market. Today, the attention of many financial institutions and governments has been directed to this market. The digital currency market, like other financial markets, has a series of specialized concepts and terms that are necessary to be familiar with to enter this market. Altcoin is one of the important concepts that you must have heard of if you are active in the digital currency market. To introduce altcoins, it is better to first familiarize yourself with terms such as Bitcoin, Ethereum, etc. Bitcoin is the first digital currency that was created in 2009 and attracted everyone’s attention. In order to fully familiarize yourself with these concepts, we suggest you to participate in the digital currency course of Rahvard Academy.

The features and facilities of this cryptocurrency made many people interested in producing new coins. Due to the decentralized operation of Bitcoin, its programming code is available to many people; Therefore, any person can produce new coins anywhere in the world by having this code. In this way, within a short period of time, various types of coins entered the digital currency market, all of which originated from Bitcoin. All coins in the digital currency market, except Bitcoin, are called altcoins. In this article, we try to introduce the types of altcoins and other related concepts.

What is an altcoin?

Altcoin consists of two terms “Alt” meaning alternative and “Coin” meaning coin. Altcoins emerged after the success of Bitcoin as the first cryptocurrency to allow peer-to-peer transactions. In general, all coins other than Bitcoin are called altcoins. Each of the altcoins created its own blockchain network, and this led to the creation of different blockchains with different characteristics in the digital currency market, which led to the expansion of the blockchain network.

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The relationship between altcoin and bitcoin

As we said, the first generation of altcoins originated from Bitcoin and shared features with Bitcoin, such as peer-to-peer, the ability to mine with a mechanism similar to Bitcoin mining, and cheap transactions. Most altcoins emerged two years after Bitcoin.

For example, namecoin was the first Bitcoin-derived altcoin to use the Proof-of-Work consensus algorithm, and its only difference from Bitcoin was the ability to provide more privacy for users. The total number of coins of this altcoin was limited to 21 million.

Litecoin is another early altcoin that shares features with Bitcoin, but its transaction confirmation speed is four times faster than Bitcoin. Also, the total number of Litecoin coins is four times that of Bitcoin, i.e. 84 million. In the past, due to its high speed and low cost, Litecoin was mostly used for microtransactions; But currently, it is most used in testing new Bitcoin ideas.

The difference between altcoin and bitcoin

Bitcoin is the first digital currency whose main idea is to create a decentralized peer-to-peer payment system. Many early altcoins were also produced based on this idea. Following this idea has made altcoins unable to gain the position of Bitcoin. The Bitcoin project has limitations, including the limitations of smart contracts and the time-consuming consensus algorithm to create a new block. The new generation of altcoins were created to overcome the limitations of Bitcoin. For example, some of them used different consensus algorithms to verify transactions and create new blocks; They are also trying to differentiate themselves from Bitcoin by creating new features such as more user privacy, smart contracts, and reduced transaction times and low price volatility.

Many altcoins are suitable for investment due to their new features; However, some of them are nothing but hype and investing in them can lead to losing your capital. Altcoin has a smaller share of the market than Bitcoin; For this reason, it has a higher upside and downside potential than Bitcoin. On the other hand, Bitcoin has more stability and is recognized by many companies and financial institutions today. This issue has greatly reduced the possibility of Bitcoin being lost and becoming zero. Meanwhile, predicting the future of altcoin projects is a difficult task and there is a possibility of their failure. Therefore, investing in altcoins is more risky than investing in Bitcoin.

Altcoin and Bitcoin price relationship

Since altcoins originate from Bitcoin for production, their price is also affected by the price of Bitcoin under normal conditions; That is, with the increase in the price of Bitcoin, we see the growth of the price of altcoin. Also, a decrease in the price of Bitcoin leads to a decrease in the price of altcoins.

In fact, Bitcoin price movements will affect the entire market trend. Although this condition is not always constant. Today, many analysts believe that with the maturity of cryptocurrency investment ecosystems and the emergence of new markets for these currencies, the price movement of altcoins will be separated from Bitcoin.

What are the uses of altcoins?

Today, altcoins occupy a significant part of the digital currency market. Of course, a large number of altcoins are created just for fraud and disappear after a short period of time. Therefore, before investing in altcoins, you should research them. The question that arises for many people is what are the uses of altcoins? In response to this question, we must say that altcoins were created with the aim of applying blockchain technology in the fields of health, energy, finance, artificial intelligence, security, social networks, etc. Digital currencies are a new technology in the world that is constantly developing. For this reason, various altcoins are constantly added to this market, each of which has a specific application and allows people to develop various projects in the field of digital currencies without the need for a license.

For example, Golem allows you to rent your computer hardware anywhere in the world. In fact, with the help of this coin, you can have your desired hardware available through the cloud.

Other uses of altcoins in various fields include fast payments with low fees, renting the Internet to the whole world, life insurance and asset distribution after death, smart contracts to pay employee salaries, creating decentralized multi-signature accounts (unhackable), systems He mentioned receiving and paying loans with digital currencies and financing startups with the help of digital currencies.

What is a token?

A token is a cryptocurrency that does not have an independent blockchain and is created on top of existing blockchains. Tokens are valuable assets in the digital currency market that can be exchanged and transferred digitally. Tokens do not require a dedicated blockchain network, therefore, their production requires less time and cost. Therefore, many companies and businesses prefer to use tokens for payments or use in decentralized applications (DApps). Tokens are classified according to their use as follows:

  • Security Token
  • utility token
  • Payment Token
  • Equity Tokens

Types of altcoins

Currently, there are many altcoins in the digital currency market, which can be divided into the following categories based on their performance:

Mining – based altcoins 

As it is clear from the name of this type of altcoins, these coins are produced through extraction or mining, then they are verified in their blockchain network. Most altcoins that are produced through mining use the Proof of Work algorithm and are most similar to Bitcoin. The proof of work method is that the systems generate new coins by solving complex mathematical problems to create a new block. By creating new blocks, the security of the network increases; Therefore, the more coins mined, the more secure the network will be. A large number of digital currencies such as Bitcoin, Ethereum and Litecoin are included in this category of altcoins.

Stable Coins _

The digital currency market is always fluctuating. Stablecoins are coins whose value is tied to a fixed asset such as fiat currencies, precious metals or other cryptocurrencies. These coins were created to reduce the volatility of the digital currency market. Due to the fact that stablecoins are not affected by extreme market fluctuations, they can be considered a good option for saving, lending and paying. Usually, stablecoins are not used for investment; Because these coins are designed to maintain and stabilize the value of digital currencies.  Tether (USDT) is one of the most famous stablecoins in the digital currency market, which is traded in many cryptocurrency exchanges. The value of Tether is roughly equivalent to one dollar. Other common stablecoins in the market include USDC and Maker DAO.

Security Tokens _

A security token represents the amount of its holder’s share of an asset, project or a company. These tokens can be issued by governments or other entities that have a license to issue them. There is no specific use for these tokens, but they have financial value. Securities tokens are similar to shares of companies in the stock market, with the difference that these tokens are digital and use blockchain technology. In the beginning, companies used these tokens for the initial supply of their coins to attract the attention of users with a significant increase in the number of tokens, and in this way, to increase the price of tokens. After the token price increases, investors can cover the necessary expenses by selling it.

utility tokens _ 

Functional tokens are non-minable and are sometimes sold as an initial offering and to attract start-up capital. This type of token is offered and supported by a project and gives those who have invested in these tokens points, which are the same services they receive from the network. Utility tokens are designed for specific uses in a network. For example, “file coin” is one of the most practical tokens used to buy storage space in a network. In another example, we can refer to the BAT token, which is paid as a reward to content creators in the Brave browser or Twitter.

Non-Fact Tokens ( NFT )

NFT or non-fungible token (Non-Fungible Token) represents a cryptographic asset in the blockchain network that cannot be duplicated. Two different tokens may look similar, but since each of them has its own identification code, no two different tokens are the same and cannot be exchanged. In smart contracts, each NFT has unique identity data, so network users are unable to copy or split these tokens. These tokens are usually used in collectibles, artwork, music, website domain names, festival tickets, and video games.

Meme Coins _

Memecoins are another type of altcoins that are inspired by “memes” or visual jokes. These types of coins are usually created following a news or social trend and there is no strong technology behind them. Mimcoins tend to be more volatile than other cryptocurrencies like Bitcoin and Ethereum, and most of the time, they don’t serve a specific purpose. The value of memecoins often comes from their community rather than fundamental analysis; That is, by creating a news or advertisement, many people buy it without knowing the project, under the influence of market emotions. This issue increases the price of these coins. On the other hand, some people behind the curtain, who are mostly the creators of these projects, sell at the highest price and cause a heavy and sudden drop in the price of these coins. Although many people have made significant profits through memecoins, the number of those who have lost their capital in this way is not small. The most important memecoins are DOGE, SHIB and BABYDOGE.

What is Alt Season ? 

After Bitcoin was introduced as the first digital currency, the issue of limiting the number of its supply was raised. Altcoins were created to overcome this limitation, speed up transactions with lower fees, and implement new projects in the field of DeFi. Most of the time, the price of altcoin is influenced by the price of Bitcoin, but sometimes the price of altcoins moves independently. Altcoin season is when alternative digital currencies tend to outperform the king of cryptocurrencies.

Alt season is a period of the digital currency market when the price growth of altcoins is higher than that of Bitcoin. In fact, before the start of altseason, the price of altcoins has increased and in terms of market value, they are gaining the position of Bitcoin; It means that the amount of money that enters altcoin is more than bitcoin. In such a situation, investors prefer to withdraw their capital from bitcoin and transfer it to altcoin or allocate new capital to buy altcoin. In any case, the price of altcoin increases and the altseason begins.

What is Bitcoin Dominance and what does it have to do with Altseason ? 

Bitcoin dominance is an indicator that refers to the ratio of the market value of Bitcoin to the total value of the digital currency market. Considering that Bitcoin is considered the largest currency in the digital currency market in terms of transaction volume and market value, its dominance is one of the most important factors in identifying alt-season. Usually, the season of altcoins is defined when Bitcoin’s dominance over the entire digital currency market decreases; That is, Bitcoin takes a smaller share of the total market value than at the beginning of the period. In this case, the attention of investors towards bitcoin is reduced and they transfer their capital to altcoin.

What does FOMO  mean and what is its relationship with Alt-Season?

FOMO is one of the common terms in the digital currency market and means the fear of missing out on an investment opportunity. FOMO affects the market when people notice the growth of altcoins and in order not to miss a suitable investment opportunity, they invest a lot of capital in the market and allocate this capital to buy altcoins. This leads to an increase in the price of altcoins and the start of altseason.

How to profit from Alt Season?

Investors can get the most profit from altseason by withdrawing their capital from altcoins and transferring them to Bitcoin before the end of the season. Of course, it is not easy to recognize the end of the season of altcoins. For this reason, it will be more difficult to estimate the selling time of altcoins; But there are signs that can help you recognize the right time to sell altcoins, which include:

  • Determining the profit limit

After entering the season of altcoins, try to determine your desired profit limit from the desired altcoin first, so that if it enters this range, the exchange will automatically register the purchase or sale order of the said cryptocurrency for you.

  • Using technical indicators to detect continuation or change of trend

Various indicators have been designed for the digital currency market that can help you detect the continuation of the trend or its correction. In the upward trend of altcoins, if you see signs of a change in the trend, sell and convert your capital into Tether, so that if the downward trend begins, you can use the downward trend to gain profit by registering a sell order again.

Tips on investing in Alt-Season

The alt-season is often considered the most profitable period of the market, and at the same time, the most volatile time of the market; Therefore, the investment risk increases a lot in this period. Therefore, to invest in Altseason, it is very important to observe the following points:

  • The amount of excitement during the high season is very high; Therefore, in order to experience less risk while having a profitable investment, you must overcome your emotions and make wise decisions and trade according to a specific strategy.
  • You must withdraw your capital before the end of the season and at the highest price. This requires a strong and efficient strategy to exit the market.
  • Although diversification of the investment portfolio is one of the right ideas for investment, this idea is not very effective in the alt-season and can even lead to your loss. Try to buy a number of altcoins that you can track and control their prices.
  • Based on daily news and market movements, choose only known altcoins with a strong foundation and do not necessarily participate in any altcoin pumping to reduce the possibility of fraud.
  • After withdrawing capital at the highest price of altcoins, invest the profit in Bitcoin to benefit from the increase in the price of Bitcoin after the end of the altseason.

How do altcoins work?

To learn how altcoins work, you must first learn about blockchain technology. Blockchain is a decentralized network in which the details of transactions, ownership of NFTs and smart contracts of the DeFi domain are stored and cannot be manipulated or changed. This network is a chain of blocks, each block must be approved by other network members to be added.

Like Bitcoin, altcoins operate on the blockchain network and transactions are verified through the general consensus of users. You can make payments from your wallet to other wallets using your private key.

Advantages of Altcoins

  • Usually, the transaction speed in altcoin is higher than Bitcoin. Bitcoin can only process 7 transactions per second; While many altcoins such as Tron have the ability to process two thousand transactions per second.
  • Lower transaction fees are one of the most important advantages of altcoins over Bitcoin. In the current situation, with the significant increase in the price of Bitcoin and the increase in network traffic, Bitcoin transaction fees are not affordable for ordinary network users.
  • The diversity of altcoins has created a more competitive environment for investors. The activity of altcoins in different fields has made investors in this field have a wider range to choose from and earn profits by investing in different sectors of the digital economy.
  • The many uses of altcoins increase the probability of their survival. For example, Ethereum is one of the most widely used altcoins, which is very unlikely to disappear.

Disadvantages of altcoins

  • The price of altcoins is mainly influenced by the price of bitcoin, and fluctuations in the price of bitcoin have a direct effect on the price of altcoins. Also, due to the short life of some altcoins, there is sometimes a risk of the market capitalization falling.
  • The decentralized structure of altcoins has created a suitable environment for fraudsters and profit seekers. The altcoin network operates without support, and no one will be responsible in case of any security problems or financial losses of investors. Also, many altcoins in the market are fake and gobble up the capital of newcomers.
  • Altcoins are very volatile. Although sometimes positive fluctuations can benefit investors, sometimes a sharp drop in the price of altcoins causes heavy financial losses to investors. The best thing to do to reduce the risks caused by price fluctuations is to save profits and get out of the uptrend of cryptocurrencies.
  • There are many altcoins in the market, which are subject to extreme fluctuations due to the low volume of transactions and low liquidity. Many of these altcoins eventually become dead altcoins; It means that there is no more demand for buying and selling them.

How to recognize fake altcoins?

Today, there are many fake altcoins and scams in the digital currency market, which cause the loss of capital of newcomers. There are many ways to recognize this type of altcoin, which we will mention below.

  • You can get all the information related to the legitimacy of the project by visiting the website of the desired project and reading its white paper. Most good projects provide users with details such as the name of the token, the source code of the smart contract, and the address of the token creator. A project that does not include such information is not very reliable and investing in it carries a high risk.
  • Project creators and team members are very important in identifying a suitable project and can provide users with useful information about the future of the project. Projects whose creators have a brilliant track record are trusted. Try to avoid investing in projects with unknown teams.
  • Be aware of the advertisements of fraudulent people. Usually, these people either have a large share of the project in question or have bought a large number of a certain altcoin and are trying to increase its price through advertising. Usually, these ads are in the form of text or video content. Therefore, in-depth research on altcoins is of particular importance.
  • Try to avoid investing in projects that promise high profits in a short period of time. In order for the promises of a principled and safe investment to be implemented, time is needed and these promises cannot be fulfilled overnight.
  • Pay attention to the URL of the project site. If you do not see the lock icon in the address bar, suspect the security of that website. Also, check whether the website in question uses https or not. If https is not used, the security of the website will be questioned.

The best altcoins in the market

Although all cryptocurrencies are classified as altcoins, they are more volatile and less liquid than Bitcoin, but some of them have taken a significant part of the market value of digital currencies. Many experts in the digital currency market believe that it is easier to make a profit from altcoins than from Bitcoin; Because altcoins are very volatile and you can get the most profit from them by recognizing the right point for entry and exit.

At first, Bitcoin was created with the aim of transferring value quickly, but today it has moved away from its original purpose and has a function similar to gold and is a means of storing value. Overall, Bitcoin is simply an asset exchange network, but this is not the case with some altcoins. For example, Ethereum, Ripple, Tron, and Polkadat are not just a cryptocurrency but act as a functional platform that includes a specific cryptocurrency.

In the following, we will understand this issue better by introducing some of the top altcoins in the market.

1. Ethereum ( Ethereum – ETH )

Ethereum is one of the most famous altcoins in the market, which is considered the main competitor of Bitcoin. This cryptocurrency is a platform based on blockchain technology that allows network developers to create decentralized applications (DApps) and smart contracts. The proprietary digital currency of the Ethereum network is Ether, which is traded in the market under the symbol ETH. The Ethereum network currently uses proof-of-work as a consensus algorithm, but network developers are trying to change this method to proof-of-stake.

It is safe to say that one of the reasons why Ethereum has become more successful than other altcoins is its focus on smart contracts. A smart contract is a contract and protocol between two or more people that includes predetermined conditions. If these conditions are not fulfilled by the parties to the contract, this contract will not be executed; Therefore, this method eliminates the risk of failure that is possible in traditional and normal contracts.

2. Tether ( Tether – USDT )

Tether is included in the category of stablecoins and its price is stable against market fluctuations. In fact, the purpose of creating Tether is to prevent market fluctuations and conduct transactions with lower fees. Tether is the most popular and widely used cryptocurrency in the digital currency market, which has a higher volume of daily transactions than other cryptocurrencies, even Bitcoin. The value of each Tether unit is equal to one dollar. One of the most important issues in the turbulent cryptocurrency market is stability. Due to the price fluctuations of this market, your capital may increase or decrease several times overnight or even become zero. Investors can convert their capital into Tether after the asset price increases and reserve profits, and after the market price drops, they can purchase the same cryptocurrency or any other cryptocurrency in the market with their Tether balance. In fact, Tether helps you to protect the value of your assets against market fluctuations while you decide to make the next investment. Compared to other altcoins, Tether has a strong backing, the dollar. Also, publishing the information of the developer accounts of this network periodically has increased the transparency of their activities.

3. Binance Coin ( Binance Coin – BNB )

Binance Coin, known by the abbreviation BNB, is one of the most popular digital currencies that has a high volume of equations in the market. This cryptocurrency belongs to the Binance exchange, one of the most famous digital currency exchanges in the world, and owes a large part of its popularity to this exchange.

Binance exchange charges a very low fee of around 0.1%. Now if you use BNB to transfer value, this fee will be halved. This is just one of the applications of BinanceCoin. Other uses of BinanceCoin include staking and earning, storing value and cultivating all kinds of DeFi coins. Binance exchange is one of the most successful exchanges in the world, which has continued to work in different market conditions and has now become a huge network. By buying BNB, you can participate in the future of the great Binance exchange.

4. Ripple ( Ripple – XRP )

Ripple is one of the oldest altcoins that aims to create decentralized banking products to remove restrictions on currency exchanges around the world. Bitcoin was created with the aim of peer-to-peer transactions and eliminating intermediaries and banks; But Ripple believes that banks are not bad in themselves and it is only the way they operate that causes problems in payments and currency transfers.

Ripple is one of the fastest and cheapest currency exchange networks in the world, which enables fast and cheap international payments by connecting banking networks and digital currency exchanges. XPR is the exclusive token of the Ripple network. The speed of this network is such that the transfer of each XPR token from one point to another point in the world takes about a few seconds. If you want to convert dollars to euros, you can use XPR to convert dollars to dollars and euros to euros to pay the lowest fees.

5. Cardano ( Cardano – ADA )

Cardano is a platform based on blockchain technology, which is very similar to the Ethereum network. This cryptocurrency is known by the symbol ADA and, like Ethereum, allows the creation and execution of smart contracts. According to the Cardano team, the speed of transactions in this network is much higher than old networks like Ethereum. Cardano’s founder, Charles Hoskisson, is a member of the Ethereum team who started the project in 2015.

6. Dogecoin ( DogeCoin – DOGE )

Like Bitcoin, Dogecoin is a blockchain-based value transfer network with a Proof-of-Work (POW) consensus algorithm; With the difference that Dogecoin, unlike Bitcoin, did not pursue a specific goal for its creation. Dogecoin cryptocurrency is in the category of memecoins and is traded in the market with the symbol DOGE. The price of this cryptocurrency increased more than 10 times in a short time after the support of Mr. Elon Musk, the richest man in the world. Of course, before Elon Musk’s support, he was in a relatively good condition; Because the users of this network formed a very strong and active association and were very active in charitable affairs. In general, Dogecoin has no supply limit, but the number of units that can be mined each year is limited. Users of this network receive 10,000 DOJ as a reward for creating each block.

7. Polkadot ( DOT )

Many blockchain projects were created to solve real-world problems, however, the blockchain network itself has limitations that some altcoins such as Polkadat have been created to solve these problems. Among these problems, low scalability and isolation can be mentioned. Blockchain networks are only able to process a limited number of transactions per second due to low scalability. Also, the isolation problem for blockchain networks makes communication between them difficult and sometimes impossible.


By solving these problems, Polkadat has gained high popularity among users. This network has a dedicated cryptocurrency with the DOT symbol, and by communicating between different blockchain networks, it enables the transfer of any type of information or assets with high processing speed.

8. Solana ( Solana-SOL )

Solana is a single blockchain network that is highly scalable, capable of processing 50,000 transactions per second. Other features of this network include very low fees and support for complex smart contracts and decentralized applications (Dapp). For this reason, it is one of the main competitors of the Ethereum network.

The SOL token is a proprietary token of the Solana network that has various uses, for example, it can be used to pay fees on the network. Also, users can earn profits by investing in these tokens. The popularity of Solana network and its many applications promise a bright future for this network.

9. Polygon or Metic Network ( Polygon )

The implementation of numerous projects and the high number of transactions in the Ethereum network have led to a decrease in the speed and increase in the cost of transactions in this network. The Polygon network has its own MATIC cryptocurrency and was initially known as MATIC Network. This network is the first platform that was created on the Ethereum network with the aim of solving these problems and operates on the blockchain platform of this network. In fact, Polygon tries to increase the scalability of the Ethereum network by building an interconnected network of different blockchains. The difference between Polygon and other networks such as Cardano and Polkadata is that they try to become a competitor to Ethereum with the help of an independent blockchain, support for smart contracts and decentralized applications, while Polygon uses the Ethereum network itself to solve its problem.

10. Tron ( Tron – TRX )

Tron is a network based on blockchain technology that has a proprietary cryptocurrency of Tronics with the symbol TRX. This network uses the proof-of-stake method for consensus. The main goal of TRON is to host a global entertainment system for sharing digital content worldwide without the need for intermediaries. In fact, this network allows content producers to sell their content to buyers at the maximum price by eliminating intermediaries. On the other hand, buyers also prefer to use Tron cryptocurrency to pay for a work. This issue has made Tron network attractive.

11. Litecoin ( Litecoin – LTC )

If we consider Bitcoin as digital gold, Litecoin can be considered as digital silver. Litecoin is one of the oldest altcoins that was created by making changes to the Bitcoin code and protocol. This network was created to improve the performance of Bitcoin. Litecoin has a lot in common with Bitcoin. For example, both use a proof-of-work consensus algorithm and both are limited in terms of the number of supplies. The speed of transactions in Bitcoin is very low, so that only 4 transactions are processed per second, and it takes about 10 minutes to create each block in this network. Meanwhile, in the Litecoin network, 54 transactions are processed every second and it takes 2.5 minutes to create a new block in this network. Therefore, the speed of transactions in Litecoin is much faster than Bitcoin.

How to buy altcoins

Today, altcoins, like Bitcoin, can be used as a currency or asset. The best way to buy altcoins is to visit the website of a reputable online exchange and select altcoins from their list of buy and sell. For this purpose, you must first register in the said exchange and after authentication, proceed with the transaction.

Are altcoins a good investment option?

Altcoins market is a nascent market. Over the past few decades, the number of altcoins has multiplied hundreds of times. Of course, a large number of altcoins that entered the market have become dead altcoins.

Nevertheless, the low price of altcoins compared to Bitcoin, the high speed of transactions, the support of important and practical projects, and the growth of their prices have attracted many investors to these cryptocurrencies. The altcoins market does not follow certain regulations and laws, and this has caused it to experience a lot of fluctuations. Sometimes these fluctuations can create huge profits for investors; But the main problem of altcoins is that this market has not reached maturity and there is no clear criterion for evaluating and deciding to invest in these cryptocurrencies. Most of the time, the cryptocurrency market is based on speculation. Therefore, investing in altcoins has a high risk, and those who have acquired the necessary skills and knowledge to enter this market and have the ability to withstand the pressure of extreme price fluctuations can invest in this market.


After the success of Bitcoin and its dramatic price growth, altcoins were created with the aim of competing with Bitcoin and reaching its similar position. Many of these cryptocurrencies were created to overcome the limitations of Bitcoin, such as low scalability, slow transaction speed, difficult and expensive mining, and high transaction fees. At the beginning, altcoins were very little different from Bitcoin, but gradually with the development of blockchain technology and the creation of new concepts such as smart contracts, token creation, decentralized games and applications, staking, etc., they were able to distinguish themselves from Bitcoin. If altcoins didn’t exist, perhaps such progress in the field of digital currencies and blockchain technology would never have been seen. However, the altcoins market is a nascent and volatile market that carries high risk of investing in it. Also, there is a possibility of fraud in this market. Therefore, it is very important to know the valid altcoins and the projects that are implemented on their platform. In this article, we tried to introduce you to the concept of altcoin and its advantages and disadvantages. Also, we introduced some of the best altcoins on the market to help you choose a suitable altcoin for investment.

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