Altcoins, or “alternative coins,” are any cryptocurrencies that are not Bitcoin. The term “altcoin” is used to describe a wide range of cryptocurrencies that were developed after the success of Bitcoin and are based on similar technologies. Some well-known altcoins include Ethereum, Litecoin, and XRP.
Altcoins were created for a variety of reasons, such as to improve upon certain aspects of Bitcoin, to address specific use cases, or to experiment with new technologies. Many altcoins have their own unique features and characteristics, and they may be designed for different purposes, such as to facilitate faster or cheaper transactions, to provide greater privacy, or to enable the creation of decentralized applications.
Altcoins can be bought and sold on cryptocurrency exchanges, and they can also be stored in digital wallets. Some people hold altcoins as a long-term investment, while others use them for day-to-day transactions. The value of altcoins can fluctuate significantly, and they are generally considered to be more volatile than Bitcoin.