Top altcoins: frequently asked questions21/02/2018
What is a Altcoin? The cryptocurrency world introduced a new terminology that is spreading around the web. Let’s examine the meaning of these terms. Collecting the necessary information and understanding the key aspects of each project is useful to understand which are the top altcoins.
What are Altcoins
Bitcoin was the first crypto introduced in the market. Over the years have developed many other projects, among the most famous Ethereum, Ripple etc. To today, there are over 1.500 cryptocurrencies. You can check the present valuation on many websites but the main is coinmarketcap. Generally the first coins in the coinmarketcap ranking are the top altcoins.
How cryptocurrencies work
The concept of digital currency is not so innovative because even FIAT currencies (i.e. euro, dollar, yen, etc.) are mostly traded digitally. Nevertheless, the crypto bases on the innovative blockchain technology system. This technology guarantees decentralization of the system because it DOES NOT depend on physical persons but on unalterable mathematical rules. The advantages of this type of system are various.
How many bitcoins will be extracted
The maximum amount of bitcoins that will be available on the market is 21 million. Analysts estimate that the last bitcoin will be coined around the year 2140. The resource scarcity is one of the best features of bitcoin, so much to compare it to gold.
Earn with bitcoin and other cryptocurrencies
Especially in the last two years, the market has been strongly bullish. It has seen an exponential growth in the value of several coins. There were annual increases of over 30.000% (see Ripple, one of top altcoins in 2017). That is why you have to invest consciously and always keep the risks in mind.
What is an ICO?
ICO stands for Initial Coin Offer is a public offer through which any person can invest in a project that he considers valid. An ICO allows entering a project in the early stage. In the past, many ICOs have given different satisfactions to those who have supported them. However, following the wave of enthusiasm in recent times there are hundreds of ICO. Unfortunately, many of these are attempts of fraud. Therefore, you must always be aware of what you are investing in. An ICO can become a top altcoins only if it has a solid and serious project.
What is a wallet?
You will find it written in many places that a wallet is the portfolio in which to keep your coins. This is not properly correct. The wallets are keychains. It keep your private keys safe, allowing you access to your funds. There are different types: mobile, hardware, software paper and everyone has different characteristics. In this world, you are your own bank. Therefore, you must absolutely worry about all the aspects related to security of your money. So if stolen nobody will refund you.
You can find all the information you need about cryptocurrencies on our site.