Video - Rise in Bitcoin Boosts Alt Coins

The word “altcoin” is an abbreviation of “Bitcoin alternative,” and thus describes every single cryptocurrency except for Bitcoin. Altcoins are referred to as Bitcoin alternatives because, at least to some extent, most altcoins hope to either replace or improve upon at least one Bitcoin component.

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Many have speculated that with this boost in Bitcoin, other alt coins will reap the benefits of a bigger pool of investors. You may have noticed that the price of Monero in particular has been steadily rising.

In addition to the Kraken exchange recently adding Monero to it’s list of tradable cryptos, Monero has also been preparing especially for this month of January and specifically for these Chinese investors by releasing a new feature that enables the coin to be even more confidential.