{"id":1698,"date":"2022-01-13T09:44:42","date_gmt":"2022-01-13T09:44:42","guid":{"rendered":"https:\/\/swapzone.io\/blog\/?p=1698"},"modified":"2022-10-04T08:00:32","modified_gmt":"2022-10-04T08:00:32","slug":"which-altcoins-to-buy","status":"publish","type":"post","link":"https:\/\/swapzone.io\/blog\/which-altcoins-to-buy","title":{"rendered":"Which Altcoins To Buy: a List for Your Consideration."},"content":{"rendered":"

There are literally over 15,000 types of digital currencies in the market according to CoinMarketCap. Out of all these cryptocurrencies, Bitcoin occupies the largest share of the market with a whopping 40% of the total cryptocurrency market cap. Ever since Bitcoin established itself as the first cryptocurrency, other kinds of coins have been created and added into the cryptocurrency universe. These coins occupy 60% of the market, which means that there are literally thousands of them. These coins, are referred to as \u201caltcoins.\u201d<\/p>\n

\"Which<\/p>\n

What Is Altcoin?<\/strong><\/h2>\n

Altcoin is a term used to refer to any other form of cryptocurrency other than Bitcoin. The term altcoin is a combination of the words \u201calternative\u201d and \u201ccoin.\u201d The first altcoin was launched in 2011 and today, there are thousands of them. Early altcoins were created to improve upon Bitcoin\u2019s flaws such as energy efficiency and transaction speed. Today, altcoins serve a variety of purposes depending on the developer\u2019s goals. According to CoinMarketCap, there are over 15,000 coins in the crypto ecosystem as of December 2021.<\/p>\n

\"What<\/p>\n

Altcoin List<\/strong><\/h2>\n

There are several different kinds of cryptocurrencies in the market today separated based on how they function and their consensus mechanism. Here are the different categories of altcoins you will come across in the crypto ecosystem:<\/p>\n

Stablecoins<\/strong><\/h3>\n

Stablecoins are cryptocurrencies that have been created to counter the high volatility associated with cryptocurrencies. They are usually pegged to the value of an asset such as the USD. Examples of stablecoins include Tether (USDT), USD Coin (USDC), Binance USD (BUSD), etc.<\/p>\n

Meme Coins<\/strong><\/h3>\n

These are cryptocurrencies inspired by memes or jokes on social media. The first-ever meme coin, Dogecoin, was inspired by a popular Doge meme of the Shiba Inu in 2013. The majority of 2021 was ruled by these meme coins. The notable examples here are the renowned Shiba Inu (SHIB), Kishu Inu (KISHU), Hoge Finance (HOGE) and many others.<\/p>\n

\"Altcoins<\/p>\n

Utility Tokens<\/strong><\/h3>\n

This kind of altcoins is used to access services within a network. They can be utilized to pay for services, pay fees, or even redeem rewards. The likes of Siacoin (SIA), District0x (DNT), Chainlink (LINK).<\/p>\n

Security Tokens<\/strong><\/h3>\n

These kinds of altcoins are comparable to securities that are traded on exchange platforms. They often promise equity in the form of dividend payouts or ownership.<\/p>\n

\"Altcoin<\/p>\n

Mining-Based Altcoins<\/strong><\/h3>\n

These altcoins employ the Proof-of-Work consensus algorithm and that\u2019s how they are mined\/created. Some noteworthy mining-based altcoins include Litecoin (LTC), Monero (XMR), Zcash (ZEC), among others.<\/p>\n

Pre-Mined Altcoins<\/strong><\/h3>\n

This type of altcoins is not mined. Instead, they are distributed before they are ever listed on any cryptocurrency exchange. A perfect example of a pre-mined altcoin is Ripple (XRP).<\/p>\n

\"Altcoin<\/p>\n

Which Altcoins to Buy?<\/strong><\/h2>\n

With over 15,000 altcoins currently circulating in the market, it\u2019s a little challenging deciding which altcoins will have a lasting value. This is because some of these altcoins are just enjoying a moment in the spotlight. A perfect example is the Omicron crypto that rose by 1,000% in value and then fell just as quickly as it rose. With that said, here are some of the best altcoins to buy, according to industry insiders and crypto experts:<\/p>\n