What Are Altcoins? What Are The Pros And Cons Of Investing In Altcoins?

Altcoins are more advanced In terms of technology as they came after bitcoins and even in terms of transaction speeds, many altcoins are superior to bitcoins

We all are aware of Bitcoin and its rising popularity across the globe. Apart from Bitcoin, there are many other virtual coins that are in circulation. All these coins put together are known as altcoins. In other words, altcoins — a combination of two words, “alt” and “coin” — are cryptocurrencies other than Bitcoin. The basic framework for altcoins and Bitcoins is similar. Having said that, there are several things that differentiate the two from each other as well. Altcoins were built after the success of Bitcoin. But the rules were slightly changed for altcoins so that they appeal to some specific users. Today, altcoins provide better transaction speeds and energy efficiency.

There are many different types of altcoins available, based on their purpose. So, what are the pros and cons of investing in altcoins? Let's find out.

Pros Of Investing In Altcoins

1) Plenty Of Choices: There are many altcoins in circulation in the market. That makes it easier for an investor to take a pick, based on returns, acceptability and other competitive advantages.