Altcoin

Tax Glossary Definition

Altcoin

Altcoins – A term encompassing all cryptocurrencies other than Bitcoin (and occasionally excluding Ethereum), developed across different blockchain networks. These digital assets often feature alternative consensus methods, transaction processes, or specialized applications aimed at improving upon or diversifying Bitcoin’s original model.

Example: Litecoin and Cardano are prominent altcoins known for offering faster transaction speeds and enhanced scalability.

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