Definition:
Cryptocurrencies that came after Bitcoin and offer different functionalities.
Examples:
Ethereum (ETH), Litecoin (LTC), Cardano (ADA).
Purpose:
Solving specific use-cases, such as Ethereum for smart contracts and Litecoin for faster transactions.
When to consider Altcoins?
Consider Altcoins when you are exploring options other than Bitcoin to build a diversified portfolio.
Conclusion
Memecoins are a fun and exciting cryptocurrency category, but be cautious when investing in them. Beginners are better off starting their crypto journey with stable options like Bitcoin and Ethereum and then slowly explore the market.