What is an Altcoin?

What is the meaning of an Altcoin?

An Altcoin is an alternative digital currency to Bitcoin.

The word Altcoin is a portmanteau of “alternative” and “coin”, to form “altcoin”. It actually refers to a group of cryptocurrencies, ultimately all the cryptocurrencies other than Bitcoin.

How many Altcoins exist?

As of today, over 5000 of these “alternative” currencies have been created worldwide.

Are Altcoins any different from Bitcoin?

Most of the Altcoins are based on Bitcoin, and their basic functions are essentially the same.

What are the most popular Altcoins?

Some of the most well-known Altcoins (based on market cap) are Ethereum, Ripple, Tether, Bitcoin Cash, Bitcoin SV, and Litecoin.

Are there multiple types of Altcoins?

Certain Altcoins are serving more purposes than exchanging the coin for something of value, and can be classified as “Utility Tokens” or “Security Tokens” for example.

Which altcoins are available on bitFlyer?

bitFlyer provides buy and sell options for some of the most popular altcoins. On our platform, you can trade:

  • Ethereum (ETH)
  • Ethereum Classic (ETC)
  • Bitcoin Cash (BCH)
  • Litecoin (LTC)
  • Lisk (LSK)
  • Monacoin (MONA)
  • Stellar Lumens (XLM)
  • Basic Attention Token (BAT)
  • Tezos (XTZ)
  • Polkadot (DOT)

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