' Cryptocurrencies.' Accessed September 16, 2021.Į. A cryptocurrency, broadly defined, is virtual or digital money that takes the form of tokens or “coins.” While some cryptocurrencies have ventured into the physical world with credit cards or other projects, the large majority remain entirely intangible.ĬoinMarketCap. Some altcoins are being endorsed as they have newer features than Bitcoin, such as the ability to handle more transactions per second or use different consensus algorithms like proof-of-stake.īefore we take a closer look at some of these alternatives to Bitcoin, let’s step back and briefly examine what we mean by terms like cryptocurrency and altcoin.Other virtual currencies such as Ethereum are being used to create decentralized financial systems.