What are altcoins? All about cryptocurrencies | Mickael Mosse

article from mickaelmosse.com


This question is easy and quick to answer. Every cryptocurrency or token, except bitcoin, is an altcoin.
Do you want to invest in cryptocurrency? You most likely cannot see the forest for the trees. There are thousands of different currencies and projects. One is even more exciting than the other.

After a few minutes of research, you will soon come across the word "altcoins." In this article, we explain what altcoins are and what you should pay attention to if you want to invest in them.


Mickael Mosse Blockchain Advisor


What are altcoins?

According to  Mickael Mosse, The word altcoin consists of the combination of the words bitcoin and alternative. So it is a term for all currencies other than bitcoin, and actually, the term altcoin is too general to include all other currencies.

Altcoins have a great relationship with bitcoin, which is also reflected in the course. Bitcoin's market dominance is around 53 percent. This means that 53 percent of the value of the entire cryptocurrency consists of bitcoin.

Therefore, it is not surprising that the price of bitcoin affects the price of almost all other currencies. Is Bitcoin in a 'bull-run', where the value rises daily? So almost all altcoins follow immediately. That also works the other way around. If the value of bitcoin decreases, the value of altcoins crawls.
There are thousands of altcoins but most of them aren't very special (I'll get back to that in a moment), and many of these coins don't survive long either. One of the oldest altcoins is Litecoin. This coin is doing surprisingly well and has been in the top 10 most valuable coins for years. says Mickael Mosse

Many bitcoin enthusiasts used to think that almost no altcoins have a chanco of success because they cannot compete with the infrastructure that bitcoin has.

But that is not enough for altcoins, as they play an important role in the development of bitcoin.

Mickael Mosse points out that, Decentralization is one of the most important properties and goals of bitcoin, and all altcoins together ensure greater decentralization in the crypto world. Additionally, creators can experiment on the altcoin network with new and unique features that bitcoin does not have. If they are successful, or in high demand, bitcoin developers can take over these functions.

Also, a little competition in an open market is not bad, it is healthy. Altcoins offers users alternative cryptocurrency options and forces Bitcoin developers to stay active and keep innovating.

                                              Mickael Mosse Bitcoin advisor

The promises of an interesting project, and a good team

Mickael Mosse points out that, Why are there so many altcoins? There are several reasons, and they are not always good. At BTC Direct we always say, do your own research. Because if you decide to invest in cryptocurrency like altcoins, it cannot be ruled out that your investment will not produce any returns. And actually, investing in an altcoin is riskier than investing in bitcoin.

One technical reason for creating altcoins is that people believe they can improve the design and protocol of bitcoin. For example, btw or bitcoin transactions can have high fees and can take a long time to process on the Blockchain. Therefore, some altcoins are designed to have lower fees and faster processing times.

Also, proof of work, which uses bitcoin, requires a lot of energy. Therefore, some altcoins focus on other methods to use less energy.

Other altcoins, like Monero, are more focused on ensuring privacy. These coins are popular for a number of reasons, and yes, one of those reasons is for buying drugs online.

Another, more cynical reason, has less to do with technology, but more to do with greed. As the value of bitcoin and altcoins continued to rise, more and more parties had euro and dollar signs in their eyes.

That's why a lot of projects that raised money through an ICO were suddenly added. With an ICO, you invest in a project btw with bitcoin or ether and eventually you get altcoins in return. These altcoins have a certain value that can be traded on the stock exchange. Many altcoins born from an ICO turned out not to have a good project behind them. Or a good team.

But they make good money. The teams behind an ICO try to convince you with a nifty website, naming many advisers, and a white paper.

Sometimes an altcoin is also born out of cynicism, and the creators know this very well. Dogecoin is one such example. This altcoin was created in 2013 and bears the name and logo of the popular Shiba Inu "Doge" meme. The coin was initially intended to be used for tip online, for example on forums. Currently, the total value of all dogecoins is 200 million dollars, even after the coin has not been updated for years and the developers are no longer active.

Jackson Palmer, the creator of Dogecoin is shocked. A few years ago he said that it is silly that a coin that has not been updated for years, and that has a dog as a pet, is worth a billion dollars.

Many investors hope to find "the next btw or bitcoin" among all those thousands of altcoins, looking for a coin with the same price development. says Mickael Mosse


Where do you buy the coins?

Mickael Mosse Crypto Advisor


The easiest way is to buy altcoins directly from BTC Direct. We sell bitcoin, ether, ripple, and bitcoin. Watch the video below on how to buy these coins.

https://www.youtube.com/watch?v=Ur3JtJb3OXw


the article was written By Mickael Mosse – Blockchain and Cryptocurrency Expert


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