What is an altcoin?

Altcoins are any coin that isn’t Bitcoin.

There are hundreds of Altcoins such as Litecoin and Dogecoin. There are a million reasons why an altcoin was created.

Sometimes, the reason is that someone thought of a new feature or idea that could be implemented. Litecoin, which implemented the Scrypt algorithm, is probably the most popular example of a crypto currency that forked the Bitcoin codebase with a new feature.

Sometimes, people create altcoins to “pump them and dump them” otherwise known as “for profit only”. ┬áThese coins come and go quickly. Most of these coins don’t actually make any real money and disappear quickly these days.

Dogecoin was started as a joke, but then quickly gained a large scale community around the idea of kindness and giving. They have recently implemented new features and are proving that the community around a coin is what gives it value.

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