Other than Bitcoin, there are ten important cryptocurrencies.

Bitcoin has become the de facto standard for cryptocurrencies, inspiring an ever-growing legion of followers and spinoffs. Bitcoin was not only a trendsetter, ushering in a wave of cryptocurrencies built on a decentralized peer-to-peer network, but it has also become the de facto standard for cryptocurrencies, inspiring an ever-growing legion of followers and spinoffs.

What Are Cryptocurrencies and How Do They Work?

Before we go into some of these Bitcoin alternatives, let’s take a step back and define what we mean by terminology like cryptocurrency and altcoin. A cryptocurrency, in its broadest sense, is a sort of virtual or digital money in the form of tokens or “coins.” While some cryptocurrencies have entered the real world through credit cards or other schemes, the vast majority of cryptocurrencies remain completely intangible.

Let’s take a step back and explain terms like cryptocurrency and altcoin before diving into some of these Bitcoin alternatives. In its widest meaning, a cryptocurrency is a type of virtual or digital money in the form of tokens or “coins.” While some cryptocurrencies have made their way into the real world via credit cards or other means, the vast majority of cryptocurrencies remain untraceable.