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Altcoins (short for alternative coins) refer to all cryptocurrencies other than Bitcoin. They include thousands of digital assets with different use cases, technologies, and goals.
Types of Altcoins:
1. Smart Contract Platforms:
Examples: Ethereum (ETH), Cardano (ADA), Solana (SOL), Avalanche (AVAX)
Enable decentralized apps (dApps), DeFi, and NFTs.
2. Stablecoins:
Examples: USDT (Tether), USDC, DAI
Pegged to fiat currencies (like the USD), used for trading and transferring value with less volatility.
3. Meme Coins:
Examples: Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE)
Driven largely by community hype and social media.
4. Utility Tokens:
Examples: BNB (Binance Coin), CRO (Crypto.com), UNI (Uniswap)
Used within specific platforms for fees, rewards, or governance.
5. Privacy Coins:
Examples: Monero (XMR), Zcash (ZEC)
Focus on anonymous transactions and privacy protection.
6. Gaming & Metaverse Tokens:
Examples: AXS (Axie Infinity), SAND (The Sandbox), MANA (Decentraland)
Used in blockchain-based games and virtual worlds.
7. AI & Infrastructure Tokens:
Examples: Render (RNDR), Fetch.ai (FET), The Graph (GRT)
Support AI, indexing, and data sharing on blockchain.
Why Altcoins Matter:
Offer innovation beyond Bitcoin.
Provide investment diversification.
Enable various use cases: DeFi, NFTs, governance, payments, gaming, etc.