What is Altcoin, How and Where to Buy?
Altcoin, which is perhaps one of the most well-known terms in the crypto market after Bitcoin, is a term known to everyone who has been in the crypto world, even if its exact definition is not known.
Although it is a well-known term, the term altcoin can be confused with other terms, even by those who have begun to specialize in crypto markets.
In this content, we will try to illuminate the most curious topics by giving answers to the most asked questions such as what is altcoin, how to buy altcoin and where to buy altcoin.
What is Altcoin?
Altcoin is the general name for all other cryptocurrencies except Bitcoin.
The term Altcoin consists of a combination of the English words Alternative Coin.
When it comes to Altcoin, people who are new to the crypto markets think of a crypto currency like Bitcoin and they go into research by asking questions such as what is Altcoin, how to buy Altcoin, where to buy Altcoin, or they want to buy Altcoin by researching Altcoin on crypto exchanges.
However, Altcoin is not a cryptocurrency as we mentioned in our definition above, and it is a term that represents all cryptocurrencies other than Bitcoin. In other words, to be more clear, cryptocurrencies such as Ethereum, Monero, Dogecoin fall into the Altcoin category.
Although Bitcoin (BTC) is the first crypto money that comes to mind when it comes to crypto money, with the value and potential it has gained over time, it has become very difficult or impossible to buy for those who missed the train.
As cryptocurrencies, which were released after Bitcoin, became more attractive to investors, investors started to prefer Altcoins rather than Bitcoin. Of course, since there are thousands of cryptocurrencies that came out after Bitcoin, the word Altcoin was brought to the crypto world as a general name for all of them.
There is an important issue and attention to be paid to altcoins; All crypto assets other than Bitcoin are not Altcoins, only crypto assets with cryptocurrencies, that is, crypto assets that have a blockchain of their own, enter Altcoin status.
Crypto assets, which are called tokens and appear on the blockchain of any crypto money, cannot be considered as crypto money, so they are not Altcoins. Crypto assets with this feature are called tokens, crypto tokens or coins.
There are two different answers for those who are wondering which is the largest Altcoin or the second largest cryptocurrency. If the biggest Altcoin, or in other words, the first Altcoin to appear immediately after Bitcoin as the second largest cryptocurrency is asked, the answer to this question is Namecoin (NMC). Although the second most valuable crypto currency after Bitcoin, that is, the most valuable Altcoin, is asked, the answer to this question has been Ethereum (ETH) for a long time, according to today’s market data.
Where to Buy Altcoins?
The answer to the question of where to buy Altcoin depends entirely on the Altcoin unit to be purchased.
As we mentioned before, there are thousands of Altcoins in crypto markets. For this reason, it is impossible for exchanges to list all cryptocurrencies, including the world’s most used crypto exchanges such as Binance and Huobi.
For this reason, the crypto money to be bought, that is, the coin, which is listed on the crypto exchange, can be bought from that crypto exchange.
Where to Learn Altcoin Exchange Listings?
If you want to make a purchase for an Altcoin, but you do not know on which exchange this Altcoin is available, the simplest and easiest way to find out is to search for the desired crypto currency through websites such as CoinMarketCap or CoinGecko and come to the Markets page to see the listed exchanges and listing parities.
How to Buy Altcoins?
There is no difference between buying Altcoins and buying Bitcoin. In other words, since buying any crypto currency other than Bitcoin is already an Altcoin purchase, the answer to the question of how to buy Altcoin is the same as the answer to the question of how to buy crypto money.
However, let’s explain the answer to the question of how to buy Altcoins in general terms as follows:
- The exchanges where the crypto money to be purchased are listed are searched and one of them is selected.
- CoinMarketCap or CoinGecko platforms can be used for research.
- After the crypto exchange where the purchase will be made, an account is opened from this crypto exchange, or if an account has been opened before, the account is logged in and the deposit is made.
- After the deposit, the targeted Altcoin is selected from the most suitable parity and purchased.
If an investment is being considered for any Altcoin, but no clear Altcoin has been determined for this and Altcoin recommendation or Altcoin recommendation is sought, we will have some recommendations on the basis of crypto exchanges:
- You can choose crypto exchanges such as Binance, Huobi and OKEx for the most reliable and preferred Altcoin units in the markets.
- You can choose crypto exchanges such as MEXC, Gate.io, which are new in the market and make early listings to evaluate your investments with Altcoin opportunities that can provide serious gains in the future.
Frequently Asked Questions About Altcoins
In this section, you can find answers to the most frequently asked questions of people about Altcoins. You can use the comments section below to add your own questions to this constantly updated section.
How Much is Altcoin?
Altcoin is not a cryptocurrency. Altcoin, which is the name of all cryptocurrencies other than Bitcoin in general, therefore does not have a value as it is not a crypto asset traded in the markets.
Based on this explanation, altcoin price research such as how much is Altcoin and Altcoin chart will not yield results.
What Does Altcoin Mean?
Altcoins; It consists of a combination of the words Alternative Coin. Altcoin, which literally means Alternative Coin or Alternative Crypto Money, means alternative crypto money other than Bitcoin.
Where to Track Altcoin Prices?
You can visit our Binansal Live Crypto Market page for Altcoin prices, whose prices and graphic information are the most curious and researched in crypto markets.
Also, see how much an Altcoin prices live in TL, Dollar, Euro currencies. You can check the prices by visiting our page.
Which is the Best Altcoin?
Unfortunately, there is no clear and definite answer to this question. Each of the thousands of cryptocurrencies in the crypto markets has a project, goal, value, future plans and an investor mass and community. For this reason, you can choose the best altcoin according to what you want to determine the best criterion.
When Is Altcoin Season?
The concept of altcoin season does not exist in the crypto world. As in traditional markets, from time to time, crypto markets go into a bearish season or a bullish season called a bull season. However, there is no season for Altcoins and seasons affect all crypto assets.
How Is Altcoin Mining Made?
There are two alternative mining types for Altcoin mining, namely producing Altcoins.
Mining If you have chosen an Altcoin with a Proof of Work (PoW) protocol, such as Bitcoin, and its mining is legal, then you can obtain mining hardware that is or can be prepared specifically for the targeted Altcoin, as in Bitcoin.
Even if you have chosen an Altcoin called Proof of Stake (PoS) that offers Staking or Yield Farming, which is a kind of mining substitute, in this case, you can buy as much as you want from the relevant Altcoin unit and choose a platform that offers Stake or Yield Farming.
Where to Follow Altcoin News?
There are many websites and news platforms as Altcoin news sources, but if Altcoin news is followed at the last minute, it can gain serious advantages.
What is Altcoin Rally?
Altcoin rally is the bearish or bullish competition that an Altcoin unit has shown in the analysis data.
How is Altcoin Produced?
Altcoins can be produced by mining just like Bitcoin. The most beautiful and well-known example of this is Ethereum mining.
Altcoin mining is preferred because it costs less than Bitcoin mining. However, even though Altcoin is less costly in terms of mining, some Altcoin units can be quite difficult to mine.
Which Altcoin to Invest in?
The best investor can answer this question himself. All Altcoins that have a future, that have sufficient and positive comments and that stand out with their project can be seen as an investment opportunity. However, only the market and investors can determine which one will be priced well in a short time.
When Altcoin projects are carefully examined and old and current Altcoin comments are carefully followed, Altcoins that already have a future and show bullish potential can be easily determined.
In summary, the answer to the question of which Altcoin to buy can only be given as a general answer that all reliable altcoins can be taken.
How to Do Altcoin Analysis?
There is no difference between doing altcoin analysis and Bitcoin analysis. Therefore, if you want to analyze Altcoins, it is sufficient to have stock market analysis training or to know how to analyze.
Likewise, the answer to the question of how to do Altcoin technical analysis is also hidden in stock market analysis. If you do not know how to analyze the stock market, then you will need to do Altcoin analysis research.
What Is The Bitcoin Altcoin Relationship?
If we describe the relationship between Bitcoin and Altcoin in the simplest way, we can say that Altcoin is an alternative to Bitcoin. Because the crypto markets are divided into Bitcoin and Altcoin, and while Bitcoin is alone, there are thousands of cryptocurrencies in the Altcoin category.
Is It Possible to Buy Altcoins Without Buying Bitcoin?
Of course it is possible. Only if the crypto money to be bought is only in BTC parity, it is necessary to buy it with Bitcoin, but other than that, it is quite simple to buy Altcoin without buying Bitcoin.
Which is the Cheapest Altcoin?
Since the crypto market is both very active and constantly gaining new members, the titles of the cheapest Altcoins or the most expensive Altcoins are constantly changing hands. Therefore, it is the healthiest way to find the cheapest and most expensive Altcoins by sorting Live Crypto Market data instantly by price.
In addition, the most profitable Altcoin and the most harmful Altcoin data are also as difficult as determining the cheapest and most expensive, and it should be acted on according to instant data.
What are the Points to Consider While Buying Altcoins?
If an Altcoin is to be traded, except for certain Altcoins that are at the top of the crypto markets, the technical document called Whitepaper of this Altcoin should be read and the Altcoin project should be evaluated.
In addition, if the relevant Altcoin comments are carefully read and the Altcoin news is followed up-to-date, it will protect you from great losses and also allow you to evaluate the profit opportunities.
Finally, it is possible to find a ton of Altcoin investment advice and Altcoin tips on the internet. While evaluating these Altcoin suggestions, almost all of which are introduced as the best Altcoin recommendations, it is absolutely necessary to be careful and think carefully.
What Is The Best Altcoin Exchange?
In fact, there is no such type of exchange as an Altcoin exchange. Because all crypto exchanges, including the vast majority of DEX platforms, list both Bitcoin and Altcoins, and there is no crypto exchange or Altcoin buy and sell sites that only trade Altcoins.
If we understand that there is no such category as Altcoin exchanges, let alone the best altcoin exchanges, then you will start to wonder about the best crypto exchanges to buy Altcoins. In this case too, choosing the best completely depends on what the person wants. For example, you can choose a reliable crypto exchange or a crypto exchange that offers opportunity investment.
