#TradeLessons
Altcoins are cryptocurrencies that serve as alternatives to Bitcoin. The term "altcoin" combines "alternative" and "coin" and generally refers to all cryptocurrencies other than Bitcoin. Some definitions also exclude Ethereum, considering it distinct due to its widespread adoption and unique functionalities.
Types of Altcoins
Altcoins encompass a variety of cryptocurrencies, each designed with specific features or purposes:
A decentralized platform that enables smart contracts and decentralized applications (dApps).
Investopedia
Designed for fast and low-cost international money transfers.
Litecoin (LTC): $LTC
Offers quicker transaction confirmation times compared to Bitcoin.
Cardano (ADA):
Focuses on scalability and sustainability through a research-driven approach.
Polkadot (DOT):
Facilitates interoperability between different blockchains.
Dogecoin (DOGE):
Originated as a meme but has gained popularity for its active community and low transaction fees.
Stablecoins:
Cryptocurrencies like Tether (USDT) and USD Coin (USDC) that are pegged to stable assets, such as fiat currencies, to minimize volatility.
