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What are Altcoins and what are their advantages? - El Cripto Club

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Starting by understanding what this term refers to is of great importance if we want to enter the world of cryptocurrencies; Now that you are here, be part of this. When we talk about altcoins, we refer to alternative currencies to bitcoin, which diversify the cryptographic system.

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There are many of these currencies, since their development is relatively simple and convenient to the open source of Bitcoin.

Next, we mention the two most relevant Altcoins:

1. Ethereum (ETH)

Basically, it is a digital platform that adopts blockchain technology, which was created in 2015 by programmer Vitalik Buerin with the aim of running decentralized applications. It has its own cryptocurrency: Ether (ETH), a token that can be used as a payment method between pairs.

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A positive point of this crypto is the programming language, since it allows developers to create software through which to manage transactions and automate some results.

2. Exchange Binance (BNB)

As the name implies, this is an exchange platform; which was created in 2017 by Changpeng Zhao and is one of the most popular today thanks to the volume of transactions that are applied every day.

But this is not all, this Exchange has its own cryptocurrency called Binance Coin (BNB), and although it does not have any special characteristics within the altcoins, it is important to keep in mind that once they are used, they are destroyed in each transaction by the same platform, thus achieving that the amount of BNB decreases and its value increases.

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Can you imagine acquiring a few of these?

Now that you know what altcoins are and we could show you two of them; we would like you to know some advantages you should take into consideration:

  • These currencies are autonomous and independent, they are fully decentralized
  • Each of the Altcoins has a different approach and process; which makes them characteristic
  • Simplify processes from smart energy control to user transactions
  • The blockchain provides transparency in information

Based on all of the above, you must always remember that anyone can structure an altcoin, the trick is to offer differential value by making it functional.

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