What is an Alt Coin? Let’s investigate tokens other than bitcoin and help you in your digital asset journey.
The name of this site refers to any crypto currency or token other than Bitcoin. They are collectively known as alt coins, alt as in alternative.
Though the term cryptocurrencies is generally used to cover them all, technically cryptocurrencies have their own blockchains, whereas crypto tokens are built on an existing blockchain. Each of the thousands of alt coins have their own unique use case and community. Some are legitimate some are not. If you are thinking of adding any cryptocurrency to your portfolio it is important to research them fully.
Top things to check:
- Price history
- Daily trading volume
- What exchanges is it listed on?
- Tokenomics: Supply, token distribution..
- Do they have a working product?
- Can you verify who is on the team?
- Is there already user adoption and is it increasing?
A few sites you can do this on are:
2017 saw a lot of growth in this space and this website was launched then to assist with more people learning about something that to many was a foreign concept.
2018 saw the price of many cryptocurrencies that saw massive growth in 2017 have massive reductions in their valuations. While the prices decreased the work continued as projects continued to move forward. Many start ups failed and some as still yet to prove themselves. Do your due diligence and only risk what you can afford to lose and if the coin you put your hard earned into delivers you could see a multiple X return.
2019 and 2020 saw a lot of companies continue to build their start ups while the price of the coins wasn’t in the headlines 2021 is looking like it could be bigger than 2017.
Nothing on this site should be considered financial advice. It’s set up purely as a launching pad to your ongoing digital asset education.