A term used to typically refer to any cryptocurrency type other than Bitcoin.
The Long Explanation
The term is used to address any type of cryptocurrency other than Bitcoin.
The word Altcoin is a merger of two words: alt – alternative and coin. Altcoins are all the cryptocurrencies other than Bitcoin, which were minted on the blockchain after Bitcoin’s popularity.
There are more than 17,000 types of cryptocurrencies, of which Bitcoin takes up more than half of the total market cap. Altcoins take up a market share of around 40%.
Some of the most popular and largest altcoins are Ethereum, Solana, and Binance Coin.