Certainly more than one person thought about investing in Bitcoin, but stopped at the last minute: “The price is too high, this train is already over, it should have been months …”. No panic. Bitcoin is only a part of cryptocurrencies (although very large) and luckily there are thousands of alternatives as we explain in today’s video.
We are talking about altcoins or alternative coins, i.e. alternative currencies. All non-bitcoin cryptocurrencies receive this qualifier, although the difference between one altcoin and another can be miserable. And while they’re not as well known as the ubiquitous Bitcoin, many of them have turned out to be fantastic investments.
So if you have a severe case of FOMO (“fear of missing out” or fear of leaving out, as you can see in our glossary of cryptocurrency terms) don’t worry, there are many currencies out there they are not bitcoin that deserve your attention.
But first it is necessary to understand the gist of the differences between the king of cryptocurrencies and the thousands of alternatives that exist. And among each other because more than 5,000 cryptocurrencies available In many cases they have absolutely nothing to do with each other.
Ethereum is not the same as Ripple; Not in technology, not in price, not in availability. Litecoin, which has a lot to do with Bitcoin, is not exactly the same and at the same time has great differences from, for example, DOT. It is very difficult to know all of the cryptocurrencies in the market. That is why it is important to have a global vision of all products that we cannot find in an exchange.
In the next video we will delve deeper into various specific altcoins. But first, let’s learn the basics of altcoins.