It’s true that the source codes and technical controls that support and secure cryptocurrencies are highly complex. However, laypeople are more than capable of understanding the basic concepts and becoming informed cryptocurrency users.
“Altcoin” refers to any blockchain-based cryptocurrency that isn’t Bitcoin. The term “altcoin” was coined as a shorthand for “alternative to Bitcoin,” and the vast majority of altcoins were created to improve Bitcoin somehow. Namecoin, Peercoin, Litecoin (LTC), Ethereum and USD Coin (USDC) are examples of altcoins.
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You may be wondering what to make of cryptocurrency and whether it has a place in your portfolio. But if you’re not familiar with digital currencies or blockchain technology, even the basic concept can be overwhelming.
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Before interacting with any given asset, it may be important to look up the asset’s type and function depending on your goals. Not all digital assets were created for investment purposes.
Ripple is also more easily converted than other cryptocurrencies with an in-house currency exchange that can convert Ripple units into U.S. dollars, yen, euros, and other common currencies.
Before you trade money for crypto, you’ll need to deposit — and when you sell, withdraw — U.S. dollars into and out of your Binance.US account. The fees for this are minimal, especially if you transfer from your bank account using ACH.
Before you trade money for crypto, you’ll need to deposit — and when you sell, withdraw — U.S. dollars into and out of your Binance.US account. The fees for this are minimal, especially if you transfer from your bank account using ACH.
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Altcoins are alternative versions of Bitcoins, but with minor changes. They are often a result of a Bitcoin fork. There are many different types of altcoins.
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Bitcoin price hits new record high - why is Bitcoin up today? Cryptocurrency prices of Bitcoin, ETH and Shiba Inu (Image credit: Getty Images/Canva Pro)