Alternative coins, often referred to as altcoins, are cryptocurrencies other than Bitcoin. They were created to improve upon or offer different features compared to Bitcoin, such as faster transaction times, enhanced privacy, or unique functionalities. Examples of popular altcoins include Ethereum, which enables smart contracts, and Litecoin, known for its quicker block generation time. Investors and traders often explore altcoins for diversification and potential profit opportunities. While some altcoins have gained significant popularity and market capitalization, others may be more volatile and risky. It's essential to research each altcoin's purpose and technology before investing.