Does altcoin get paid?

Paid non-client promotion: In some cases, we receive a commission from our partners. Our opinions are always our own. Altcoin is short for "alternative coin" and — as the name suggests — is an alternative cryptocurrency to Bitcoin.

Are altcoins a viable alternative payment method?

Generally, alternative payment methods outside of traditional currencies, including altcoins, are on the rise. Altcoins (and Bitcoin) combine properties of modern money and the likes of gold into a new type of asset which makes it both scarce (like gold) yet easily transferable (like fiat currencies).

What are altcoins used for?

Many altcoins are used within their respective blockchains to accomplish something, such as ether, which is used in Ethereum to pay transaction fees. Some developers have created forks of Bitcoin and re-emerged as an attempt to compete with Bitcoin as a payment method, such as Bitcoin Cash .

How many altcoins are there?

The crypto markets are a product of Bitcoin's success, and the fast-growing space consists of more than 9,000 altcoins. Now we have altcoins, which began to emerge in 2011 in an attempt to reinvent Bitcoin, with their own rules and improvements on different features. What is an altcoin?