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”. These 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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