An altcoin is a term used to describe any cryptocurrency other than Bitcoin. Altcoins are the result of projects that have been designed with specific purposes in mind and vary from alt-chain systems like Litecoin or Dogecoin to altcoins that use the same distribution method as Bitcoin (such as Ripple) to alt-assets like Synereo.
What should I know about this?
This article will explain the different types of altcoins, how they work, and their advantages or disadvantages compared to Bitcoin. It is important to note that altcoin itself is not a scam. Still, many altcoins are scams in which developers go so far as selling premixed coins while promising them free money for doing nothing! This kind of behavior can be found even among established cryptocurrencies with large communities such as Dogecoin, where users have been duped into sending hundreds of thousands of dollars worth of coins by an anonymous developer who promised upvotes on Twitter which never came through.
We hope this information has been helpful to you.