We propose an alternative definition of an N-dimensional coined quantum walk by generalizing a recent proposal [Di Franco et al., Phys. Rev. Lett. 106, 080502 (2011)]. This N-dimensional alternate quantum walk, AQW_N, in contrast with the standard definition of the N-dimensional quantum walk, QW_N, requires only a coin-qubit. We discuss the quantum diffusion properties of AQW_2 and AQW_3 by analyzing their dispersion relations that reveal, in particular, the existence of diabolical points. This allows us to highlight interesting similarities with other well known physical phenomena. We also demonstrate that AQW_3 generates genuine multipartite entanglement. Finally we discuss the implementability of AQW_N.