What is an Altcoin?

What is an Altcoin?

Altcoin is an alternative currency like Bitcoin and the likes in the crypto world.  Technically, they are replicas of Bitcoin, and some even call them as rivals to Bitcoin.  They are many.  Not all are dismissing Altcoins and other cryptocurrencies as a legitimate asset class. Now everyone are aware that they can buy cryptocurrency without any identity detail. And, Altcoins are as anonymous as Bitcoins and other cryptocurrency.

When it was just new, Bitcoin and cryptocurrency was hard to believe.  Many tried to dismiss the whole idea.  They thought it was scammy.  They felt like people were paying thousands of dollars for nothing in material. After looking at this new form of currency working for months and months pretty well, this currency was found to be providing some breakthrough in finance concerning money; the way internet is used for transacting with digital coins.

All the different coins like Ethereum, Ripple, Dash, Neocoin, Litecoin, Dogecoin and several other Altcoins were replicating the concepts of blockchain technology.  Each of them with their code and replicas using similar technology.

Though Altcoins are not as large as the Bitcoin community, there is a lot of speculation going on in the Altcoin space.  After the 2018 Bitcoin Price Drop, the market is shifting and splitting the investments in Altcoin.