In the ever-expanding world of digital currency, there is one contender that is dubbed as one of the most promising technologies in the market, and that is Ethereum. Following its initial release back in 2015, the digital currency has grown by quite a large margin, from 1.50 dollars per share to a now staggering 2,300 dollars.
With the rapid growth of Ethereum’s market value, it made a lot of new and experienced investors into millionaires. However, despite Ethereum’s popularity and outstanding increase in value, very few people know what Ethereum is, understand its technology, and why it is a good investment that you can start on a platform like Bitcoin Superstar.
For potential investors, whether new or experienced, who didn’t get the chance to know what Ethereum is, it’s crucial to understand that it is much more than a digital currency. If you buy Ethereum, you are actually buying Ether, and here are five reasons you should invest in it.
1. Having More Potential Applications than Bitcoin
Digital currencies, as a whole, have a lot of selling points as the majority of them use blockchain technology and finite market caps. Also, digital currencies are pretty resistant to hyperinflation as it is open for every individual, free from governments and big banks, to take advantage of. Moreover, unlike Bitcoin’s fairly basic technology, Ethereum offers something different with greater promise for currency enthusiasts and developers.
The developers have written Ethereum in Turing-complete code language, which means that it can run any algorithm, and any script can run on Ethereum. Moreover, Ethereum’s blockchain technology records transactions far more rapidly than Bitcoin, processing them for as low as 15 seconds to 5 minutes, compared to Bitcoin’s 10-minute record. This is why Ethereum’s blockchain technology is the best network to support any form of program or business because the accuracy and precision it has to solve problems are unparalleled so far.
2. The Growth In Popularity
Since its initial launch to the public, Ethereum wasted no time in establishing itself as one of the largest digital currencies, second to the reigning champion Bitcoin. Vitalik Buterin was the person who brainstormed the creation of Ethereum in 2013 when he was still 19 years old.
As of right now, there are already millions of people who are trying, and some have already achieved, setting up a cryptocurrency wallet that can hold this asset. However, the rise in Ethereum’s popularity is arguable because of the fact that 3rd-party applications can also run on its network.
3. It Can Already Be Used to Buy Goods
Despite only being second in popularity next to Bitcoin, Ethereum already has an increasing number of organizations and businesses accepting the asset as a means of payment. Moreover, those numbers are expected to increase even more when many people get comfortable using cryptocurrencies.
4. Capability To Have Safe Transactions
In the world of cryptocurrency, it is needless to say that Ethereum now has the safest ecosystem to conduct payments and other forms of transactions. Because of Ethereum’s decentralized finance software, it has brought forth a protected and secure payment system for all sorts of financial transactions all over the world.
Its blockchain technology does not allow the manipulation or errored information, thus having the most verifiable, accessible, and transparent forum to make the payments are secured.
5. Less Volatility
Despite Ethereum not being a global digital currency that any consumer can trade anytime they want, it still has the highest potential of reaching up to 10,000 dollars in market value, surpassing Bitcoin’s 1 trillion dollar cred.
However, Ethereum’s primary goal is to work on the applications, contracts, and other forms of content rather than making deals in the market.
Despite Bitcoin’s popularity and ranking, Ethereum is still considered a powerful technology that can assist businesses further and our system in global currency. However, there are many other digital currencies in the market right now. All you have to do is be cautious when you’re investing in one of them, as you just need to do all of your research before jumping in.
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