Altcoin

Altcoin ("alternative coin") refers to any cryptocurrency other than Bitcoin. Ethereum is the largest altcoin by market cap; other examples include Solana, Cardano, Polkadot, and thousands of smaller tokens. Most institutional lenders accept only Bitcoin and Ethereum as collateral — the rest are typically too volatile, too illiquid, or carry too much regulatory uncertainty.

Note that USDC, USDT, and other stablecoins are technically altcoins but treated differently because they're dollar-pegged.

Why it matters for Milo customers

Milo accepts Bitcoin and Ethereum as collateral and USDC for select transactions. Other altcoins aren't supported because their volatility profile and liquidity depth don't meet the standards needed for institutional-grade lending. Borrowers holding altcoin positions typically convert to BTC, ETH, or USD before pledging.

Related terms

Bitcoin (BTC)Ethereum (ETH)StablecoinCrypto Collateral
Adjustable-Rate Mortgage (ARM)Amortization

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