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What is an altcoin?

An altcoin is an alternative cryptocurrency to Bitcoin, which itself was the only crypto coin at one point in time. During its early years Bitcoin dominated the field so much that other rivals were defined in relation to the original cryptocurrency. It was Bitcoin – and everything else.

How many types of altcoins are there?

As of March 2023, more than 23,000 types of altcoins exist. However, not all altcoins are created equal. Thousands of types are inactive, and only a handful of cryptocurrencies outside of Bitcoin have amassed significant market value. Bitcoin remains the market leader, but altcoins are gaining ground.

Are altcoins a risky investment?

Altcoins can carry substantial risk, with the less established altcoins generally being the most risky. Before investing in any altcoins, be sure to do your research as an investor, just as you would with any traditional security. How to Buy Altcoins?

What percentage of the crypto market is made up by altcoins?

Since Bitcoin currently makes up around 40% of the total crypto market cap, that means more than half of the crypto market’s value is made up by altcoins. Because there are so many altcoins, they vary wildly in price, function and potential investment value.

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