What are altcoins?

The name of these coins is quite easy. It stands for alternative coins. Every coin is an altcoin except for Bitcoin. If you are wondering why there are so many crypto coins then it is very simple. Each coin tries to create its own function. This can be, for example, making cheap transactions, faster payments or being able to make payments in a sustainable way. And there are many more. Every day there are new projects that can yield a lot of money but also have a lot of risk. That is because almost all coins fail. We will come back to that later in this article.

How do I find the best altcoin?

If you are looking for an Altcoin, you must know what you are looking for. Each coin has its own website. And there is probably a roadmap to be found there. what is a crypto roadmap? Here is the future plans of the currency. How and what they want in the future. Each coin also has a white paper. If you are wondering what is a white paper? That is a text that contains all information about the coin. Here you can read what they do, how many coins there are and much more. But always keep in mind that the smaller the coin, the greater the risk. If you are looking for an exchange, we recommend binance. Why use Binance? That is because there are a lot of altcoins there and so there is the greatest chance that the coin is on that platform. Read more about using Binance at the bottom of the site. And will you join the action?

risk of altcoins.

Every altcoin carries a high risk. the newer the coin, the more risk, but if you get in early you can get a big return. The High risk High reward and Low risk low reward always apply. Usually they try to find the best altcoins, which will yield a lot of returns. But it is rare that it succeeds. If you are new to crypto and altcoins, you better focus on the biggest coins in the world. That is much safer than new altcoins. And then has a better chance of success

Finding the best exchange for Altcoin portfolio