♻️ FAQs by New Traders
🟢 What are altcoins?
🔰 An altcoin is an alternative to Bitcoin. Many years ago, traders would use the term pejoratively. Since Bitcoin was the largest and most popular cryptocurrency, everything else was defined in relation to it. So, whatever was not Bitcoin was lumped into a derisive category called altcoins.
🔰 While Bitcoin is still the largest cryptocurrency by market capitalization, it’s no longer as dominant as it was in the very early days of cryptocurrency. Other altcoins such as Ethereum and Solana have grown in popularity, making the term altcoin somewhat outmoded. Now with a reported 20K or more cryptocurrencies in existence, it makes less sense than ever to define the industry as “Bitcoin and then everything else.”
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