Alternative coins otherwise called as alt coins are classified as all other currencies aside from bitcoin which means alternative to bitcoin.
Though, there exist some arguments on whether all other cryptocurrencies can be regarded as alt coins since there are other forms of coins like stable coin.
This exists because some experts believed that not all cryptocurrencies serve the same purpose directly like bitcoin, some blockchain are built with smart contracts while some are stable in price.
In order to keep the explanations simple for those that did not have in depth Knowledge of the market, then all other cryptocurrencies aside from bitcoin are alternative coins.
Alt coin are alternative coin but they are not being treated as such except ethereum which is listed with bitcoin on all major exchanges where they can be exchanged directly to fiat.
Ethereum is the leading alt coin and also the only cryptocurrency aside from bitcoin to be among the top 100 assets in the world.
In order to bridge the gap for Nigerians and make other coins to be available for direct exchange to Nigerian naira.
Kurepay, the distinguished and leading Africa payment system has launched a watchlist of alternative coins to be made available on their platform.
The list of the alternative coins to be listed are:
- Cardano (ADA)
- Polka dot (DOT)
- Stellar (XLM)
- Chainlink (Link)
- Binance Coin (BNB)
- EOS (EOS)
- Tron (TRX)
- Ve-chain (VET)
- Digibyte (DGB)
- Terra (LUNA)
- Iota (MIOTA)
According to the CEO, “the listing of these coins will help in making the buying and selling of the coins directly to Nigerian to be easy. Not only that, it is necessary to make wide adoption of other alt coins and make it available to the users
without having to exchange fiat for fiat before they can buy or sell.”
The listing of these coins will make kurepay to be the first built in cryptocurrency payment platform to make alternative coins available for buying and selling directly with Naira.
Kurepay is set to make buying and selling of cryptocurrencies to be easy in Africa and other alternative coins will be supported soon.