Bitcoin is usually seen as the granddaddy of all cryptocurrencies. Launched in 2009 the digital currency has grown from strength to strength.
But Bitcoin is not the only player in town; other cryptocurrencies have also emerged since the creation of Bitcoin, collectively known as “altcoins”.
The term “altcoin” simply means “alternative to Bitcoin”. In this article, we take a look at altcoins and what they have to offer.
Here goes…
What Exactly Are Altcoins?
Essentially, altcoins are cryptocurrencies that are not Bitcoin. Ethereum, Solana and Cardano, for example, are some cryptocurrencies that are in this category. There are literally thousands of altcoins that have been launched since the creation of Bitcoin.
Every altcoin has its own use case, and each provides a different supply of coins released to the market and different reward systems, also known as “Tokenomics”.
Some cryptocurrencies are built to improve upon Bitcoin’s use case as a store of value with the addition of smart contracts and dApps. While others are created to provide light entertainment for users or memes.
Altcoins are essential for the cryptocurrency industry as they encourage experimentation and can sometimes yield significant gains to early investors should the project take off. 100x is not unheard of in these cases.
Of course, many altcoins are released with much fanfare and then fade into obscurity, so if you are thinking of investing in altcoins, you should be careful not to invest more than you can afford to lose.
If you are new to cryptocurrency and want to learn more about Bitcoin, Ethereum and Cardano, read the following article:
Categories of Altcoins
Not all altcoins are created equal; there are multiple categories of altcoins that all provide different benefits and features for users.
Altcoins can be grouped into several categories, depending on their purpose, for example:
- Smart Contract Platforms – Blockchains such as Ethereum, Cardano, and Solana that allow developers to build dApps (decentralised Applications) and issue developer-generated tokens or native tokens.
- Stablecoins – Assets like Tether (USDT) and USD Coin (USDC) that are pegged to fiat currencies to maintain price stability.
- Utility Tokens – Tokens that serve a function within a specific ecosystem, like Binance Coin (BNB) on the Binance exchange.
- Governance Tokens – Coins like Uniswap’s UNI or Aave’s AAVE, which allow holders to vote on project decisions.
- Meme Coins – Coins such as Dogecoin and Shiba Inu, which often start as internet jokes but can attract significant attention and investment.
- Privacy Coins – Cryptocurrencies like Monero (XMR) and Zcash (ZEC), which emphasise anonymous transactions.
- Payment Tokens – Coins designed primarily as digital cash for fast, low-cost peer-to-peer payments. Examples: Litecoin (LTC), Ripple (XRP), Stellar (XLM).
- Security Tokens – Blockchain-based representations of traditional assets (stocks, bonds, real estate) regulated under securities law. Examples: tZero (TZROP), Polymath-issued tokens, Securitise tokens.
- Wrapped Tokens – Tokens that are pegged 1:1 to another cryptocurrency but usable on a different blockchain than the originating chain. Examples include Wrapped Bitcoin (WBTC), Wrapped Ether (WETH).
- Gaming & Metaverse Tokens – Tokens used in blockchain-based games, virtual worlds, and metaverse ecosystems.
- Community Tokens – Tokens built around a community, fan base, or social group. They often represent membership, loyalty, or identity within a collective. Examples include Chiliz (CHZ), that powers sports fan tokens for clubs like PSG and FC Barcelona and Pop Up World Token (PUW), a token for creatives, small businesses and entrepreneurs.
The Cardano Network and Its Altcoins
One of the most interesting altcoins that offers its own blockchain for ecosystem development is Cardano.
Founded by Charles Hoskinson, one of Ethereum’s co-founders, Cardano sets itself apart with its research-driven methodology.
Cardano was recently included in the U.S government’s “Strategic Crypto Reserve” plans and offers the native currency ADA and supports the creation of developer tokens.
These tokens can be created by projects to be used in decentralised finance, gaming and NFT marketplaces.
Unlike Ethereum, there is no necessity to create a smart contract to create a token on Cardano, making the process much more efficient.
Notable Altcoins on the Cardano Network
- Minswap (MIN): A decentralised exchange (DEX) similar to Uniswap, but built on Cardano. It allows users to swap, stake, and provide liquidity for tokens.
- OccamFi (OCC): A launchpad and DeFi ecosystem that supports fundraising for projects within the Cardano network.
- World Mobile Token (WMT): A token designed to provide decentralised mobile network services, particularly in underserved regions.
- VyFinance (VYFI): An automated market maker (AMM) that combines decentralised finance tools with machine learning strategies.
- Pop Up World Token (PUW): A community token for Creatives, Start-ups and Entrepreneurs.
These projects highlight Cardano’s flexibility and its growing ecosystem of altcoins, each experimenting with new financial models or community governance.
To read more about the Pop Up World Token (PUW) – read this article:
Why Altcoins Matter
Altcoins are not simply “wannabe” copies of Bitcoin. Many altcoins utilise blockchain technology to bring innovation that Bitcoin itself cannot offer due to technological limitations and its narrow focus as a store of value.
Altcoins offer investors opportunities, but with those opportunities comes risk. Some projects grow into billion-dollar networks with thriving ecosystems, while others collapse due to poor execution or lack of demand.
Therefore, understanding the purpose and fundamentals of each altcoin is crucial before engaging with them.
Final Thoughts
Altcoins are everything that is not Bitcoin. Some coins are large players such as Ethereum and Cardano, while others are smaller and provide innovations such as memes, community tokens and decentralised finance.
With cryptocurrencies like Bitcoin, Ethereum and Cardano forming part of the U.S. Crypto Reserve, it’s likely that altcoins will play a vital role in the future of the cryptocurrency industry. Altcoins are also likely to become more accepted within traditional finance.
While altcoins do provide opportunities for investors to make significant gains should the altcoin project take off, investors should be aware of the risk that many altcoins fail.
Entrepreneurs should be careful not to go “all in” on any decisions made. Entrepreneurs and investors who research carefully and move on the potential opportunities could make significant gains as the world shifts to a purely digital economy.
Good luck!
***Disclaimer: This article is not financial advice and is given for informational purposes only. Readers should conduct their own research and not invest more than they can afford to lose. Crypto is extremely volatile, and as such can drop in value considerably without notice. You should always seek legal advice to understand if the use or investment in crypto is allowed in your jurisdiction.
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