What Are Altcoins – Guide : altcoin

The following article going to take a look at what altcoins are exactly, and compares a few different types of altcoins: What Are Altcoins?

  • Digital currencies. These altcoins focus on offering a medium of exchange (examples include Litecoin and Bitcoin Cash, as well as Bitcoin itself).

  • Stablecoins. These are pegged to a fiat currency (for example, Tether and USD Coin).

  • Privacy tokens. These altcoins provide and prioritize anonymity in their transaction history (for example, Monero and Dash).

  • CBDCs (central bank digital currencies). These altcoins are issued and maintained by banks.

  • Governance tokens. These altcoins are usually used in decentralized finance protocols, and allow users to vote on the development of the project.

  • Utility tokens. These are also generally platform-specific and are used to unlock access to services like a subscription.

  • NFTs (non-fungible tokens). These altcoins hold unique characteristics that cannot be recreated and represent a one of a kind product.

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