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Welcome to our Biggest Altcoins For 2023 Video!

What is an altcoin?
An altcoin is an alternative cryptocurrency to Bitcoin, which itself was the only crypto coin at one point in time. During its early years Bitcoin dominated the field so much that other rivals were defined in relation to the original cryptocurrency. It was Bitcoin – and everything else. So whatever was not Bitcoin was, somewhat derisively, called altcoins or perhaps, even less charitably, sh*tcoins, in a rhyme with the original digital currency.

So altcoins are any cryptocurrency that is not Bitcoin. In the early years of cryptocurrency, this kind of definition made a lot of sense, since Bitcoin occupied most of the market’s attention, and competitors made up dozens or even a few hundred alternative coins. Nowadays, some experts put the estimate of the number of individual cryptocurrencies at more than 19,000. So it makes less sense than ever to define the crypto field as “Bitcoin and everything else.”

That said, Bitcoin remains the largest cryptocurrency, with a market capitalization – the value of the total number of coins in existence – at more than twice the second largest player, Ethereum, according to CoinMarketCap.com. And the size of other players drops quickly from there.

Types of altcoins
With literally thousands of cryptocurrencies in existence, speculators looking for altcoins are spoiled for choice. But so much trading coalesces around the largest players and those with some of the best technical specs, such as fast transaction times.

Mining-based coins
Mining-based coins are mined into circulation by computer networks that solve complex mathematical problems often requiring a lot of energy. The world’s largest cryptocurrency – Bitcoin – is a mining-based coin but so are many altcoins.

Stablecoins
Stablecoins are a kind of cryptocurrency whose value is pegged to that of another asset, typically the U.S. dollar. Stablecoins track the underlying asset, trying to keep the price of the coin equivalent to the currency.

Despite their moniker, sometimes stablecoins are anything but stable. TerraUSD, a stablecoin pegged to the dollar, made headlines in May 2022 when it collapsed to just pennies on the dollar.

Security tokens
A security token is a kind of coin that represents a fractional interest in another asset. For example, a piece of art might have security tokens that divide ownership of that asset and validate the ownership of it.

Memecoins
Memecoins are a kind of cryptocurrency that has taken the public’s fancy, perhaps through social media or the tweets of celebrities such as Tesla CEO Elon Musk. Memecoins often have a lottery-like aspect, increasing in price very quickly and then going on to fall precipitously. Popular memecoins include Dogecoin and Shiba Inu.

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The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses a considerable risk of loss. The speaker does not guarantee any particular outcome.

I hope you found value in our Biggest Altcoins For 2023 video. Make sure to leave a like on the video if you gained value from it!

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⏰Timestamps⏰

00:00 – Which Crypto Will Explode in 2023 Introduction.
00:36 – Which Crypto Will Explode in 2023 project summary.
10:32- Which Crypto Will Explode in 2023 project outro.