Crypto Talk #9 Bitcoin Vs. Altcoin - How Do They Fare?

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Investing in Bitcoin is never a bad investment especially when its price has escalated during the past years. On the other hand, there are the Altcoins, which are cryptocurrencies with exceptional characteristics and that is why their market continues to grow. Some users prefer to invest in the Altcoins, perhaps because they feel that Bitcoin is not as efficient as the others.

Nowadays, you cannot run away from the news of Bitcoin, and it publishes in every type of media today. If you read the article about the Bitcoin, you will also see about alternative currency or “AltCoin” in many pieces. But what exactly are Altcoins?

What is Altcoin?

An alternative coin is also called “AltCoin.” Today there are numerous of Altcoins on the market. You can look up yourself on the list of Altcoins on Coinmarketcap website.

We need to be sure about one thing, if Bitcoin has not existed, many of the Cryptocurrencies would not be there in the market. Most of the Altcoins follow the same blueprint which is peer-to-peer maintain the privacy, decentralized, and there is no any control of banks of governments over it.

Why do users invest in Bitcoin?

Users who are very doubtful about the use of an Altcoin and end up investing only in Bitcoin. Many users spend in Bitcoin because its value will grow over time, besides that value is higher than gold and this is a big step.

It has also been noticed that the name of Bitcoin keeps appearing in the media, this is something that has helped with its growth because when they talk about a product, and it’s being used, this generates more reputation and credibility.

Why do users invest in Altcoins?

The Altcoins market continues to grow spectacularly and every day we can see new projects that excite users. The reason why more users prefer to invest in the Altcoins is that they see a future they have not seen in Bitcoin.

For example, sending money through Bitcoin has become a headache because their rates have increased and it is not convenient for them.

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Advantages of AltCoins (Alternative Cryptocurrencies):

Utility:

Most of the newly launched cryptocurrencies appear with beneficial purposes that eventually help to the end users. They come up with the new theme to compete with the market which goes through periods of diffusion often.

Decentralization:

The Altcoins that have somewhat to contribute. They are trying to assist the decentralize any characteristics that we can imagine from real life.

Various options to choose from:

There are many Altcoins on the market today so you can have a wide range to choose from. Every cryptocurrency has their project, so you can invest in the Altcoins in which you feel safe.

Conclusion:

There is a direct competition between these two types of Cryptocurrencies. But both have their niche. They both are performing their specific role in the market. For instance, smaller transactions are usually done in Altcoins while Bitcoins could be used for interstate or larger payments.

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