Bitcoin: Bitcoin is a type of cryptocurrency. There are no physical bitcoins, only balances kept on a public ledger that everyone has transparent access to. All bitcoin transactions are verified by a massive amount of computing power.

Altcoins: All cryptocurrencies other than Bitcoin are called Altcoins. As of today, over 10 000 of these "alternative" currencies have been created worldwide. Most of the Altcoins are based on Bitcoin, and their basic functions are essentially the same. Eg: Ethereum (ETH), Ethereum Classic (ETC), Bitcoin Cash (BCH), zlitecoin (LTC)