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January 11, 2022

What is an Altcoin?

What is an Altcoin?

Disclaimer: This podcast references our opinion and is for information purposes only. It is not intended to be investment advice. Do your own research and seek a duly licensed professional for investment advice.

Altcoins are strictly speaking any coin or token other than Bitcoin. Let’s expand that definition to be more useful though: Altcoins are simply the lesser known coins and tokens.

Some of these are already traded on exchanges like Coinbase, so buying them is as simple as creating an account, connecting your bank, and clicking a button. One such example would be Celo Gold, which is already one of the largest tokens out there, but some may still consider it an altcoin.

But others are much harder to get your hands on. Currently, there are about 7000 of them listed on Coinmarketcap that are traded or swapped somewhere. Some of these have meteoric rises in prices in their early days, but only 100 of them are listed on Coinbase today, so many investors ask themselves: How do I get in on that?

And now that you know what altcoins are, next time we are going to talk about exactly that: how do I buy altcoins?

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