In terms of
mediums it is a
paint. About sixty years ago THEY figured out how to
suspend pigments in a very thin refined
plastic. There was a huge
rift that formed between the
artists who used the
Old School oil paint and those who used the
newfangled acrylic.
There are some serious benefits to acrylic, the first being it's drying time. It's quick and water soluable, though I would not suggest painting in your Sunday Best. The stuff does stain, it carries many of the same ingredients as the old toxic oils. There's another point. Acrylics are a lot less hazardous to your health, though I do suggest washing the cadmiums off your skin as soon as possible. There are no fumes from acrylic, and their viscosity is very easy to manipulate.
But the colors are not nearly as true. It depends on the company greatly whether or not your acrylics will turn to crap. There is a dullness to the sheen of the finished product if types of gel medium have not been employed.
And the stuff is generally dirt cheap.