What is Altcoin Trader? Definition & Meaning | Crypto Wiki (2024)

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What is Altcoin Trader? Definition & Meaning | Crypto Wiki? ›

An altcoin trader is a person who buys and sells alternative cryptocurrencies. These are all cryptocurrencies that are not Bitcoin (BTC), the first cryptocurrency in the world. As of April 2022, there are over 18,000 registered alternative cryptocurrencies.

Altcoins (alternative coins) is a term used to describe all cryptocurrencies other than Bitcoin (BTC 0.26%). Their name comes from the fact that they're alternatives to Bitcoin and traditional fiat money. The first altcoins launched in 2011, and, by now, there are thousands of them.

AltCoinTrader is a cryptocurrency company based in South Africa. The head office is in the country's economic capital, Johannesburg. AltCoinTrader allows users to purchase a number of cryptocurrencies directly using South African Rands, including Bitcoin, Ethereum, Monero, and a host of others.

Some of the most well-known Altcoins (based on market cap) are Ethereum, Ripple, Tether, Bitcoin Cash, Bitcoin SV, and Litecoin.

Yet, most altcoins also function as cryptocurrencies with the main purpose of serving as a store of value and for handling decentralised peer-to-peer-payments. They may offer higher transaction speeds or more privacy than other coins.

Deposit minimums are around R5 (five rand) per asset. The maximum clients are allowed to deposit into the Easy Save account is around R5 000 000 (five million rand) per asset. The system will enforce these restrictions. Rewards can only be claimed once a minimum of around R1 (one rand) has been earned per asset.

What is the difference between Bitcoin and altcoin? ›

Altcoins often have a lower market cap than bitcoin, meaning they have the potential for rapid value growth. For investors willing to take risks, this can translate into higher returns. However, investing in altcoins carries higher risk. Their market is less liquid and more subject to volatility.

In simple terms, the key difference between the Altcoins and tokens is that, We can consider Altcoins as a currency used to buy products and services in the marketplace. However, Tokens have a specific purpose. They don't have value outside the particular application or use case where we use them.

With a strong development team and growing adoption, Cardano (ADA) has the potential to reach $1, offering a compelling investment opportunity for those looking to capitalize on the next big thing in blockchain technology.

In 2024, according to our research, the best crypto coins are ButtChain, Toncoin, Arweave and Kaspa. These coins stand out with their unique features and distinct approach to innovation.

If you're looking to diversify within the cryptocurrency market, altcoins can be less expensive than Bitcoin. However, the cryptocurrency market, regardless of the type of coin, is young and volatile.

Altcoins often have a lower market cap than bitcoin, meaning they have the potential for rapid value growth. For investors willing to take risks, this can translate into higher returns. However, investing in altcoins carries higher risk. Their market is less liquid and more subject to volatility.