What are Altcoins?

image result for altcoins

Apart from Bitcoin, there are thousands of cryptocurrencies surviving in the market. These alternate cryptocurrencies are called altcoins. Altcoins are less established minor coins. Bitcoins have been on the market for around 10 years or more but altcoins are still making space to get recognized. Some minor coins have been established this year while some over last four years and some are still less established and far less valuable.


What is the need for an altcoin when we already have a major coin Bitcoin?

Its true Bitcoin is the most trusted digital currency in the market today. 


But not all of us can afford to buy the same and secondly, digital currency is new for most of us. Why would we put our money at risk? To make things easier and affordable altcoins came into the picture.


Altcoins are minor coins less recognized and less established and easy to buy. 


The best feature about altcoins is High Volatility. Altcoins have high volatility which can be both exciting as well as nerve-wracking. For example, let’s consider an altcoin named Dash. If we look at the chart, we can see the fluctuations. Last night around 8 pm Dash coin price was USD 299. An hour later the price has fallen to USD 296. While Twelve hours later, the same coin has raised to USD 307. And if you see at the fluctuations, the price has fall and rise “n” number of times. 


image result for dash coin chart


Though we don’t keep altcoins or any coin for hours. We buy them and keep it safe in our wallets for days, months and even years. And sell them as and when we see the prices have gone up. 


How do altcoins build up?

By gaining a community.


Once an altcoin is launched there is a community. Basically, there will be a website a forum for people to talk and discuss. People will be speaking about it online and its features as well. They will add an official wallet for the particular coin. Furthermore, will add additional features to it so that people may find it different and interesting. As a return, it will increase the value of the coin. And the prices will just go up and up as people start discussing it in their circles.


Value of a thing, commodity or even a coin increases as more and more people find it easy to manage and safe to keep. 


To be very honest, Altcoins are extremely magical. Even though the major coins like Bitcoin and Ethereum have gained tremendous growth over the market and people find it worthy to invest in. I find Altcoins as the best digital currencies to put your money. Minor coins are where you make the best gains. 


Why altcoins?

Yes! you heard me right.


For me, altcoins are the best place to invest in if you are new to the market. 


Because you can buy them at 0.00000000.


Let’s make it easier for you. Just assume you invested $1000 onto Poloneix (an exchange). With this $1000 you can buy half a bitcoin and its value. But with altcoins, you can buy hundred of thousands of coins with the same amount. So your money goes a lot further every time the value goes up. You are potentially multiplying or tripling all source of money.


Secondly, innovation adds value. There are thousands of altcoins in the market. Most of them are still fighting with other coins to establish themselves. Altcoins become different from each other through innovation. Innovation adds value to these coins and allows you to make huge gains. Take a look at DigiByte. What do you think what made DigiByte different from other altcoins? Developers of DigiByte added additional features to it that made it different. DigiByte Gaming is a platform set up by the Digibyte developers on which people play popular games like League of Legends, Counter-strike Global Offensive and World of Warcraft. And in return receive a number of Digibyte for their performance in the game.


Even you can add value to your coin by talking about it with your people. 


As you are the owner of the driving seat, a small move can help in raising your coin in the market thus increasing its price. 


You can furthermore go on Youtube and post a video. Hence drive up the value.


Innovations can thus add tremendous value to the coin and also you can add the same.

 

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