Cryptocurrencies are enjoying the rave of value and popularity in the market as interest in their investment is being piqued by the passing day. Notable of them is Bitcoin, which is the earliest, most expensive, and popular digital asset that has had the best performance in mainstream investment over the last decade.
Today, there are thousands of other cryptocurrencies following the success path of Bitcoin, with a large number of these digital currencies achieving a feat of high returns.
Bitcoin and Ethereum are the two most expensive cryptocurrencies in the market, concerning their market value. There ends the similarity between the two coins as they are completely two different crypto species, with varying internal dynamics while evolving for different intended purposes. Often, while Bitcoin retains its primary name, Ethereum belongs to the Altcoin family.
Due to the significant price increase that Bitcoin and Ethereum are comfortably enjoying, a slew of new investors has been enthusiastic about having a delve into the crypto business. However, despite the huge buzz going around these two cryptocurrencies, the investment potentials of Bitcoin and Ethereum have remained debatable to date.
Benefits Of Investing In Bitcoin
Although Bitcoin was launched into the market in 2009, Bitcoin has still believed ti be a new form of currency with so many ambiguities. But understanding its benefits would enable you to strike a balance if it is a good investment pursuit for you.
1. Acceptance Of Bitcoin In Real-World Applications
Bitcoin has become a fabric of your way of life in the same way technology has been been. As there are many companies today, adopting Bitcoin as a payment method, other companies are already mulling embracing the coin as their principal currency.
Bitcoin has been integrated into our society and some governments that have placed a ban on its application as a transaction tool are trying to rescind their decision. In the same vein, some emerging digital currencies are imitations of Bitcoin.
It could be recalled that El Salvador in 2021 became the first country in the world to approve and adopt Bitcoin as legal tender. As such, there is the belief that other countries will join the bandwagon in the future.
It is safe to infer that the journey of Bitcoin has just begun. This is owed to the fact fiat currencies are becoming outclassed due to their incapability to provide a one-stop solution to financial-related issues in the world.
2. Investment Knowledge Is Accessible At No Cost
In traditional investment, it takes many years to master the fundamentals of the business. This is synonymous with the narrative whereby you can’t enter the stock market as a newbie and begin to start trading assets. You need to grow in your understanding and some intricacies of the trade before you can start selling stock. Time is of the essence, hence traditional investment can be time-consuming and even costly.
On the contrary, learning Bitcoin investment and earning profits is very simple to achieve. Using some interesting platforms available on the internet, new investors can easily study and understand some fundamentals about Bitcoin investment.
3. Bitcoin Price Rise Will Continue
One of the major contributory factors to Bitcoin price rise is the increase in its number of investors. This follows the law of demand, “the higher the demand the higher the price.” So the high price has further compelled more investors to enter the Bitcoin market space.
Subsequently, it is expected to see the price of Bitcoin increasing with growing demand, while many people will be using it as their primary currency. Businesses are steadily coming to terms with the prospect of Bitcoin as the final solution to their daily financial management concerns.
Moreover, the growing popularity Bitcoin is enjoying in the world today would inform the decision of both small and large businesses to adopt the cryptocurrency. Let it be known that the greater the public opinion for Bitcoin, the higher its price.
Having noted this, it is just a matter of time for Bitcoin price to skyrocket to maybe a $100,000 all-time high.
Benefits Of Investing In Ethereum
Hinged on the advanced and outstanding performance of Ethereum, both traditional and institutional investors have been attracted to its myriad of potentials. In comparison to traditional investment, Ethereum and other Altcoins offer the following benefits:
1. Ethereum Is Becoming Popular
Similar to the level of popularity being enjoyed by Bitcoin in the crypto space, Ethereum is already gaining popularity, on the heels of an increase in the number of crypto enthusiasts. Since its launch in 2016, Ethereum has grown to become of the most expensive digital currencies, after Bitcoin.
Its popularity has further pitched it and other ERC-20 coins to be supported by crypto exchanges and wallets because it becomes more accessible and in turn, grows its popularity.
2. Ethereum Is Loved By Many People
It is noteworthy to see big companies like JP Morgan and Microsoft promoting Ethereum on their products. This translates to their choice of either using Ethereum blockchain or opting for another.
This promotion and publicity would help to maintain the high demand for Ethereum, as its price increases. Also, the products and services of these businesses can be developed by the Ethereum network.
To this end, Ethereum becomes more accessible and useful by many people. This will also boost customer confidence in its stability.
3. Ethereum Has A Thriving Community Of Developers
Ethereum network is transparent, meaning that its code can be looked into by anyone, indicate errors, and suggest ways for improvement in its functionality. With this feature, Ethereum becomes efficient and secure to use.
However, the decentralized and adaptable structure of Ethereum ensures the longevity and expansion of its network. Ethereum has a distinguishing feature from other cryptocurrencies, which is its diversity. Therefore, its platform can be used by individuals to create their services and applications.
4. Ethereum Is One Of The Most Secure Digital Currencies Available
A cryptocurrency’s payment framework is one major considering factor in buying it. Trading Ethereum is secure while maintaining the utmost anonymity across the globe. Because of its decentralized financial system, Ethereum transactions are relatively transparent and accessible.
Credit to blockchain technology, Ethereum transactions are tamper-proof, even as its payment platforms are simple to use.
Therefore, there is no distinct answer to “Which is a better crypto investment between Bitcoin and Ethereum?” There is a lingering misperception of a rivalry between the two cryptocurrencies which many opine will lead to one of the two’s destruction. It is important to keep in mind that Bitcoin and Ethereum are different coins with different goals and objectives.