For a long time, Bitcoin was considered synonymous with the entire cryptocurrency space and served as the entry point for most investors. But a new survey by data platform CoinGecko suggests that its dominant role is fading. Only 55% of new investors chose bitcoin for their first investment, while 10% admitted they have never owned this cryptocurrency at all.

What are altcoins and why they attract beginners

Alternative cryptocurrencies, known as altcoins, include all digital currencies except bitcoin – from major players like Ethereum and Solana to smaller projects. Their advantage is often a lower price compared to bitcoin, which appeals to beginners who feel they can get “more coins” for the same money. Another strong pull is the community that forms around many altcoins. For investors, it’s not just about financial gains but also about being part of a story and shared values. According to CoinGecko, as many as 37% of newcomers entered the crypto world through altcoins, not bitcoin.

New paths: DeFi and memecoins

While bitcoin used to be the almost exclusive entry gate into the crypto world, today newcomers discover other routes. Some investors start directly with DeFi projects – decentralized financial services that operate without banks and enable lending or money exchange directly via Blockchain. Others fall under the spell of so-called memecoins – cryptocurrencies created for fun, such as Dogecoin or Shiba Inu, which gained popularity mainly through social media. Analysts say this shows the market has matured – it now offers much more variety, and new investors can choose their own way in.

Why some skip bitcoin

One reason why newcomers often bypass bitcoin for their first investments is its price. In 2025, it broke its all-time high and in August traded above $124,000 for the first time – over 2.8 million CZK. Many feel the opportunity has already “passed them by.”

Another obstacle is the complexity in how bitcoin presents itself. While smaller projects build more relatable and appealing narratives, bitcoin remains abstract – explaining its role in the global economy is less attractive to beginners.

That does not mean bitcoin is losing significance. On the contrary, it is still considered the most trusted and “hardest” form of digital money. According to CoinGecko analyst Yuqian Lim, its role is shifting: “Bitcoin is gradually becoming a less likely onboarding mechanism. New stories and communities around altcoins are coming to the forefront.”

Sources:

https://www.coingecko.com/research/publications/crypto-community-bitcoin-exposure

https://cointelegraph.com/news/how-memecoins-act-as-a-cross-cultural-bridge-between-web2-and-web3

https://cointelegraph.com/news/bitcoin-rallies-to-dollar113-9k-as-bullish-divergence-points-to-trend-reversal