(Alt-coin) Alternative cryptocurrencies to Bitcoin are known as alt-coins. There are around 14,000 cryptocurrencies as of November 2021. Bitcoin and Ether alone accounted for approximately 60% of the total cryptocurrency market in November 2021, according to Coin Market Cap. 1 The rest was made up of so-called alt-coins.
Types of Alt-coins
There are a lot of types of Alt-coin based upon their functionalities and mechanism.
1) Mining coins
Examples include Lite coin, Moreno, and other mining-based altcoins.
2) Stable coins
By pegging their value to a basket of goods, such as fiat currencies, precious metals, or other cryptocurrencies, stable coins try to lessen overall volatility.
Stable coin price variations should not surpass a specific range.
Tether’s USDT is a well-known stable coin.
Security tokens are similar to traditional equities in that they often provide holders equity in the form of ownership or a dividend distribution.
TOP 10 Alt-coin
Top 10 Alt-coins are
Binance Coin (BNB)
Future of Alt-coin
Alt-coins are a low-cost alternative for investors to diversify their horizons in the crypto markets beyond Bitcoin. The profits made by cryptocurrency market rallies have been several times greater than those made by Bitcoin. However, investing in altcoins has risks, not the least of which is the lack of regulation. More expertise and capital will undoubtedly enter the bitcoin market as it matures, paving the way for regulation and reducing volatility.