Business • Ethereum
Reasons To Buy Ethereum Instead Of Bitcoin
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The popularity of the cryptocurrency market grows more and more by each day. In fact, whoever heard about the crypto investment wanted to find more information about it and start researching in order to become a part of the crypto world. It is unbelievable how many different cryptocurrencies are out there, however, there are still some of them that are considered as well-established and the most popular ones.
In the last period, we noticed that there is a discussion about two cryptocurrencies and which one is more beneficial in terms of buying. We assume that you already know that we are talking about Bitcoin cryptocurrency as well as the Ethereum one.
Bitcoin crypto is the first crypto that ever existed and for the whole time, it preserve its reputation and value in the crypto market. Yet, Ethereum is considered currently the world’s second largest cryptocurrency that may be an even stronger crypto than Bitcoin in some terms.
In general, the Ethereum blockchain is considered as one that builds a block of stable coins, decentralized exchanges, dApps, and even NFT exchanges. It is very interesting to hear that all the investors that decided to purchase the Ethereum five years ago are currently up more than 270-fold.
We must agree that this is one amazing capital. Best of all is that there is still a very positive prediction towards Ethereum crypto investment. More precisely, even though it brought a lot of profit in the past, it is still believed that it can bring even more for long-term investors.
This means that Ethereum can actually become a more established cryptocurrency than Bitcoin and take over the first top spot in the crypto world. In this article, you will find some crucial reasons why Ethereum should be the cryptocurrency that you should consider investing in right now.
Ethereum is the cryptocurrency that is providing real-world applications
There are so many reasons that influenced Ethereum cryptocurrency’s success and popularity on the crypto market. However, we must say that one of the highlights that provide Ethereum its popularity refers to the smart technology contracts.
It is interesting to hear that even in 2013, Vitalik Buterik notice the significance of offering methods for a crypto network to --execute every transaction right after some agreed-upon conditions have been fulfilled. This innovative idea actually lead to the occurrence of many real-world applications that can extend from finance, healthcare, insurance, or any other aspect that needs to be disrupted.
All those traders and investors that hold ETH tokes really benefited from this open decentralized blockchain. In fact, since Ethereum developed itself to the form of the go-to platform upon creators built dApps or some crypto projects, the network of the Ethereum cryptocurrency has effectively grown.
This crypto comes with real and tangible aspects, which is important to notice since other cryptocurrencies are struggling with this type of concept. Investors truly admire the Ethereum decentralized finance and the real-world applications that this crypto has unlocked. Finally, it is significant to notice one more powerful aspect of this crypto which refers to the fact that many top leading investors are now developing their crypto projects in this direction.
Ethereum is going in the green direction
In the last period, there is constant arguing between crypto owners when it comes to the amount of energy that is required to power blockchain networks. The fact that the Ethereum cryptocurrency rise is one of the earliest in the crypto world is clear proof that this crypto mining model was required for different reasons. In fact, those that verified transactions across this blockchain and miners need to be rewarded for their accomplishments.
Basically, there are costs in the term of adding the computing power that is required for making a network, to begin with. However, if we take into consideration that the crypto industry is constantly evolving to an almost ubiquitous status among traders, this Ethereum crypto truly seems to change everything.
According to the cryptocurrency network, an Ethereum Improvement Proposal 3554 for switching to a more proving model. An incredible and significant energy reduction is noticed across the blockchain immediately after the Ethereum owners start to stake their current tokens to verify transactions.
All those people who decide to stake their tokens are going to get a reward in the form of more ETH tokens. Basically, the amount of energy that is consumed across the overall blockchain is going to drop very effectively and quickly, which is a positive thing for people that are looking to create passive income from their holding without the need to put up the capital for mining rigs and managing the ongoing power costs that are linked to mining activities.
As the result, the total energy reduction across this crypto network is going to be 99.95%. This means that the costs of crypto mining and crypto ownership are going to be highly improved. Therefore, all those investors that are looking for greener and leaner crypto should decide on Ethereum over Bitcoin.
Ethereum influences the NFT world a lot
Finally, we saved the most crucial reason why Ethereum cryptocurrency is so beneficial for the end. In general, as many of you already know the biggest innovation that took over the whole crypto world currently refers to the NFT which is non-fungible tokens.
It is unbelievable how much NFT popularity rises over the past year because of the fast rise in the valuations of the digital assets. In fact, NFTs tokens were sold this year for $69 million. For those who do not know, Ethereum powers some of the most crucial and biggest NFT marketplaces currently.
This means that all NFT investors were attracted by this cryptocurrency and they were ready to use it for the purpose of trading their artwork. Time will tell whether or not Ethereum will be able to completely stand out from the crowd and beat the competition in the crypto-growing market.
However, one thing is sure, investors are currently ready to invest in this cryptocurrency and rely on it. If you are ready to buy Ethereum cryptocurrency after reading the advantages that it can bring to you.