With so much “hype” coming in the Bitcoin world in 2017/2018, a lot of
people are getting interested in purchasing and profting from Bitcoin. A
better phrase to use instead of Bitcoin is “Cryptocurrency”. With the explosion
of Bitcoin in 2017, it ran up from around $2,000 to nearly $20,000.
Bitcoin, Litecoin, and Ethereum are the main stream cryptocurrencies
that most people see and talk about today. With so much growth around these
cryptocurrencies, a lot of other companies have started to create their own
“coin”. These coins are considered “Altcoins” and are now part of the cryptocurrency realm.
Bitcoin is NOT considered an altcoin. Some top altcoins in cryptocurrency are Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and Ethereum Classic
(ETC). The only way you can purchase these altcoins is with Bitcoin. So, to
make it simple, you have to purchase Bitcoin before you can make the purchase
of any altcoin. There are a number of ways this can be done but first it’s
important that you understand the differences between Bitcoin and altcoins.
This is a VERY basic picture of how you can look at the cryptocurrency
realm all together. The blue box is considered a cryptocurrency with
Bitcoin being at the top of the cryptocurrency world, and then finally
altcoins are at the bottom.