Bitcoin was the first cryptocurrency to be introduced as a means of exchange for the masses. Bitcoin was created by an anonymous man, popularly known as “Satoshi Nakamoto,” but the actual identity of the person still remains a mystery to date. After Bitcoin came into existence, a lot of Altcoins, or alternative coins, were also in the financial markets across the world. 

In 2024, Altcoins are becoming a lot more popular, as more and more governments across the world are putting restrictions on the bitcoin trade. You must have some questions in your mind about Altcoins.

So, let’s go ahead in this blog and compare Bitcoin vs Altcoins.

What are Altcoins?

Altcoin is the name given to any cryptocurrency that can be alternatively traded in place of Bitcoin. A lot of Altcoins are being traded, and they too have huge market capital. Traders across the world no longer see Bitcoin as the only lucrative crypto that one can buy or sell across popular crypto exchanges. 

Altcoins were also created to overcome the disadvantages associated with the use of Bitcoin. They have some interesting features like speed, transaction flexibility, and tangibility, and sometimes Altcoins are even linked to real assets like money. 

Those cryptos which are linked to real money or assets are popularly known as “Stablecoins”.

Bitcoin vs Altcoins: Are Altcoins Better?

Bitcoin vs Altcoins: Market Conditions

Bitcoin is still the largest cryptocurrency in terms of market share in the world. It is the most widely accepted crypto and most of the countries in the world have markets that support Bitcoin transactions. Altcoins are also increasing in popularity across the major financial markets of the world, but its adoption rate is lower than that of Bitcoin.

Bitcoin vs Altcoins: Price

Bitcoin is the most valuable cryptocurrency in the world, and its mining still remains one of the most lucrative things one can do. But Altcoins are also increasing in value gradually. Some of the most popular Altcoins in 2024 are Ethereum, Solana, Ripple, Litecoin, and USDT (stablecoin).

Bitcoin vs Altcoins: Functionality and Technology

Bitcoin is the oldest crypto in existence. It is a decentralised currency that has no mainframe and resides as an independent entity in cyberspace. So, Bitcoin is heavily secured with a digital ledger system. Altcoins offer different functionality and technology, as they are often linked with assets in the real world. For example, USDT is an Altcoin that is linked to the US dollar. 

Bitcoin vs Altcoins: Supply

The maximum number of Bitcoins that can be brought into the supply by mining is 21 million. Due to this capping, Bitcoin is extremely valuable and costs a lot in the real world. On the other hand, Altcoins are a lot more widely available in circulation, so their value is lower as compared to Bitcoin.

Bitcoin vs Altcoins: Pros and Cons

Bitcoin

Pros:

• Widely recognized and accepted as digital gold
• Strongest network, highest hash rate
• High liquidity, widely traded
• Established as a store of value

Cons:

• Limited transaction output
• Slower to adopt new features
• Increasing concentrations of mining power

Altcoins

Pros:

• Potential for higher returns due to volatility
• Some offer innovative technologies and features
• Opportunities for early investment and growth 

Cons:

• Can be prone to higher risk
• Lack of regulatory clarity
• Greater risk of scams and fraud projects
• Less stability in markets

Bitcoin vs Altcoins: Which is the better choice for you?

As Bitcoin is already peaking in value, it cannot be easily said that the value of Bitcoin will exponentially increase anytime soon. And the next halving of Bitcoin is also expected to occur in the month of April. So, if you are looking for a crypto to invest in in 2024, then Bitcoin might not be the best one for you.

Instead, you can invest in multiple Altcoins known as stablecoins, that are linked to real world assets. These stablecoins are more stable than other cryptos, and their value mostly remains at 52 week highs on crypto exchanges. Some of the most popular choices will be USDT, Tether, Solana, Avalanche, and Ripple. 

To Summarise

In 2024, Altcoins, especially stablecoins, will gain popularity across the major crypto exchange platforms like Binance, CoinDCX, Coinbase, Bitfinex, etc. You can definitely try out by investing in them, as most of them are not that expensive to purchase. But Bitcoin still remains one of the top choices of high value crypto trades as of 2024. 

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