(Last Updated On: 18/02/2018)

Alt-coins? Tokens?

What is Alt-Coins?

  • It is known as Alternative Coins a.k.a – Litecoin, Ethereum
  • There are thousands of Alt-Coins in the cryptocurrency world.
  • They are about the same as Bitcoin with their own unique management systems and usage.

How do i obtain it ?

  • You can buy them from exchanges like “Coinbase” and other exchanges you google for, please be very sure that the exchange is legit before putting any amount of hard earn cash.
  • You can use shapeshift, changelly

Tokens, Assets in digital (binary) format.

A digital asset in essence is anything that exists in a binary format and comes with the right to use. Files that do not possess the aforementioned right are not considered assets. Digital assets are classified as images, multimedia and textual content files.

Obtaining Tokens

  • Investing in ICO’s which are called start up for a new kind of coins / tokens.
  • There are big risks for this, some ICOs are really awesome their Whitepaper / explanations / usage / target but they just collect big amount of ETH and just walk away leaving the ICO there and they are rich.
  • After ICO is over buy them like bitcoins.

Storing Tokens

  • Some ICO is done via ETH and using the blockchain, so whatever amount you sent from your ETH wallet it would be assigned to your ETH wallet, Would show a Token option.
  • Some tokens uses BTC / LTC / ETH, you buy at ICO after ICO they would develop wallets to store the coins, it’s like BitCoins almost the same but instead of caling it Whatever coin it is called Whatever tokens.

Before investing in ICOs, things to look out for.

  • Their Whitepaper.
  • The Press and Platform Listing.
  • Their website layout – effort put into design and English.
  • Their team with their profile ” Social Media, Indeed”
  • Their minimum amount to invest, mostly in ETH.
  • RoadMap, Their goals.
  • The code if you know about codings they would list their program on Github/Reddit/Other Cryptocurency platform to proof that they are as transparent as they claim to be.
  • Check the crowdsales and of course, googling it around to find youtubers speaking about it.
  • Google those ICO.
  • YouTube will have many reviews about the ICOs there surely be mix contents some saying its a scam, some would be hyped about it, It’s up to your judgement and experience.

A video explaining Tokens 

Thank you for reading!

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