HOW TO INVEST IN CRYPTOCURRENCY
Bitcoin and Ethereum are both blue-chip cryptocurrency investments, and are a perfect place for first-time investors to begin investing. They are respectively the first and second most respected cryptocurrency projects the world over.
Interestingly, their use cases are both very distinct. While Bitcoin has seen its usage change as adoption grew, Ethereum’s value continues to remain steadfast, even as the network itself continues to evolve.
Bitcoin was initially built as a peer-to-peer payment system. A way for people to transfer money to one another directly, without the need for any intermediaries. The last few years have seen the Bitcoin story evolve, as more and more people began to use it as a long-term, inflation-proof investment and store of value.
The Ethereum network improves upon the Bitcoin blockchain idea, adding new features that make it even more widely usable. Both offer digital money, but Ethereum was built with more than just payments in mind.
This is made possible by adding smart contracts to the network. These are pieces of code that allow for conditions to be programmed onto the blockchain, and automate the control of digital transactions.
Now that we’ve established their fundamentals, let’s look at the pros and cons:
Bitcoin is by far the most well-recognised cryptocurrency available, making it a relatively safer investment.
However, it is also far less flexible in terms of its use outside of value transfer.
On the other hand, Ethereum is likely to have more avenues for growth in the coming years, especially with ETH2 creating greater scalability.