I’m new to crypto and stocks, but I’ve noticed when bitcoin drops, all the other cryptos seem to drop too. And when bitcoin goes up, everything else seems to follow. Any help on why this happens would be great. Thanks!
Most cryptos are what people call coins. Bitcoin is the biggest one. Ethereum and Cardano are other examples. There are some more coins too. The rest of them are called tokens, and they depend on the ecosystem of these bigger coins. For example, if it’s a bitcoin token, it’ll be quite similar to bitcoin. I’m still learning about crypto myself, been trading for less than a year. I’m sure others can give more detailed answers.
@Bowie
So what’s the actual difference between coins and tokens? Thanks 
CryptoCrafter said:
@Bowie
So what’s the actual difference between coins and tokens? Thanks
I’m no expert, but from what I know, tokens are cheaper (sometimes less than a cent) and more flexible in their use. Coins, on the other hand, are pricier and less flexible. There’s more to it in the tech side of things, but for trading, that’s the basic difference.
@Bowie
What about altcoins? Where do they fit in? Thanks again!
CryptoCrafter said:
@Bowie
What about altcoins? Where do they fit in? Thanks again!
Altcoins are just any coin that’s not bitcoin. Think of Ethereum, Cardano, or Cronos as examples. Surprised nobody else has jumped in! Hope this is helping.
Don’t try to figure it all out on your own.