Taking a Look At Bitcoin and Ethereum

cioreviewindia Team | Thursday, 24 June 2021, 13:03 IST

Taking a Look At Bitcoin and EthereumCryptocurrencies have managed to change the way we look at payment methods and making a profit. They have numerous advantages over regular payment methods, which is why they are so well-accepted by the public.

Studies show that there may be as many as 7 million crypto users and that number increases by the thousands with each passing day. There are hundreds, maybe even thousands of cryptocurrencies on the market, but as you are well aware – not all are profitable and worth investing in.

With that being said, we wanted to take a look at the current leaders in the crypto world – Bitcoin and Ethereum. We will be listing all of their best features and let you decide which cryptocurrency is the best. But first, let’s see where can you trade them.

Where Do You Trade Them?

The one common marketplace that Bitcoin and Ethereum have are trading sites. Bitcoin can also be traded at Bitcoin ATMs, but these automated machines are not easily reachable and charge a lot of fees, which is why they are not worth discussing.

Trading sites allow you to connect with thousands of buyers from every part of the world. To gain access to their services, you just need to register and verify your account. After that, you select your preferred payment method and start the process of trading.

What’s even better is that reputable platforms such as Yuan Pay provide its registered traders with extra services, including the use of an AI system that predicts the future fluctuations of your selected cryptocurrency and helps you maximize your profits.

Now, it is worth noting that the profit is not guaranteed, but the chances of making one are increased. If you want to get more familiar with what the aforementioned trading site has to offer, the Yuan Pay App trading review will help you.

Now, let’s see what the two best cryptocurrencies on the market have to offer.

Bitcoin

We’ll start with the most valuable cryptocurrency on the market. Bitcoin has quite a few great advantages. Currently, Bitcoin’s price tag is around $35,000 to $40,000, which is astonishing. Not only that, but back in April 2021, Bitcoin reached an all-time high after surpassing $63,000. What’s even better is that it may rise as high as $100,000 by the end of the year.

Next up, the institutional interest in Bitcoin is massive. Many global brands, including the likes of Expedia, Starbucks, Overstock, Shopify, and Whole Foods. Not only that, but El Salvador recently became the first country in the world to legalize a cryptocurrency. The legalized crypto was Bitcoin.

The massive institutional interest makes Bitcoin far more stable and more valuable than any other cryptocurrency on the market. Not only that, but its future potential is massive as many experts predict that it can rise to as high as $1 million by 2037.

Ethereum

The first thing that is worth knowing about Ethereum, is that there is a difference between Ethereum and Ether, even though they are often referred to as the same thing. Ether is the cryptocurrency, while Ethereum is the network in which Ether operates. The fact that this cryptocurrency has its network is a massive advantage. Not only that, but it supports other processes and tokens apart from the cryptocurrency. The most notable one is NFTs or Non-Fungible Tokes, which became extremely popular recently.

Secondly, Ethereum’s mining works far more efficiently than other cryptocurrencies. Let’s compare it to Bitcoin. While Bitcoin miners need around 10-20 minutes to record and verify a transaction, the process lasts 10-20 seconds in Ethereum’s network.

Not only that, but while many cryptocurrencies have a finite supply, the case is a bit different with Ethereum as its network only limits the annual release of Ethers.

Don't Miss ( 1-5 of 25 )