When they first appeared on the market, virtual currencies were considered “suspicious” by many people in the world.
Today, virtual currencies have become widespread and are recognized as a target of investment.
People who have made a lot of money with virtual currencies, known as “billionaires,” have become a hot topic.
Bitcoin is the most major virtual currency in the world.
In the world of virtual currencies, we also often hear the term “altcoin”.
However, some people who have never been interested in virtual currencies may not be familiar with the meanings of the terms bitcoin and altcoin.
Therefore, in this article, I would like to talk about bitcoin and other coins called altcoins.
What is Bitcoin?
Bitcoin is the most major virtual currency in the world.
There are probably very few people nowadays who have never heard of it.
Among all the virtual currencies, Bitcoin has the highest market capitalization, which represents the value of the virtual currency, at approximately 86 trillion yen.
The second largest virtual currency, Ethereum, is worth about 32 trillion yen, which is almost half as much.
When it was first created, it had almost no value, but now, if you try to buy bitcoin, one coin costs about 4.6 million yen. (As of August 2021)
What are altcoins?
Altcoin is the general term for all virtual currencies other than bitcoin.
As of 2021, there are said to be more than 2,000 types of altcoins.
Some altcoins are traded frequently, such as Ethereum, Ripple, and Bitcoin Cash, while others are barely traded and have little recognition.
There are over 2000 different altcoins.
Of the 2,000 altcoins, it is said that there are only about 100 that are frequently traded.
There are many altcoins that are not yet well known and are at a low price.
Therefore, if you invest in them, you may be able to make a large profit.
As mentioned earlier, Bitcoin costs about 4.6 million yen per coin, but there are many altcoins that can be purchased for less than one yen per coin.
Therefore, it is possible to invest from a small amount of money.
It would be a good idea to look for altcoins with a promising future.
Where can I buy bitcoins and altcoins?
So where can you buy bitcoins and altcoins?
You may have heard of Coincheck, BitFlyer, or GMO Coin.
These are all names of virtual currency exchanges.
If you open an account with one of these exchanges, you will be able to trade virtual currencies.
One thing to keep in mind is, if you want to buy altcoins.
Some exchanges do not offer altcoins.
Also, most domestic virtual currency exchanges only offer a few dozen types at most.
For those who want to try trading a larger variety of altcoins, I recommend foreign virtual currency exchanges.
Compared to domestic exchanges, foreign virtual currency exchanges offer a larger variety of altcoins.
Of these overseas exchanges, Binance has the largest trading volume.
While most domestic exchanges offer only 10 to 14 types of altcoins, Binance offers more than 200 types of altcoins.
If you want to mainly trade altcoins, consider opening an account with Binance.
Summary
The above was a summary of bitcoin and altcoins.
If you would like to start trading virtual currencies, please consider opening an account with an exchange.
In particular, those who want to trade various types of altcoins should consider opening an account with Binance, an overseas exchange.
You can also refer to our article on Binance for more information.
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