The entire cryptocurrency industry has become popular, and investors are jumping on the bandwagon and researching their potential. Bitcoin and Ethereum are currently the most popular blockchains and cryptocurrencies but are quite different. Before deciding which cryptocurrency is best to bet long term, it is better to explain the two, then decide which has more potential?
Bitcoin was the first and most widely known cryptocurrency around the world. It has the highest value of any cryptocurrency. Similarly, Ethereum is the most actively used blockchain and its native Ether is the second most valuable cryptocurrency worldwide. The two cryptocurrencies hardly compete with each other, Ethereum was created later to address Bitcoin’s shortcomings.
Bitcoin is a decentralized cryptocurrency and is not under the control of any bank. It is only sent from peer to peer using the Bitcoin network. Every transaction has to be verified by miners who issued the Bitcoin. This is just an explanation of a complicated process.
Ethereum is also a decentralized cryptocurrency, its network is more advanced than that of Bitcoin. It is equipped with smart contract functionality, which has led to a series of innovations such as NTFS and decentralized finance services. This makes Ethereum have a lot of potentials.
While investing in any cryptocurrency, it is advisable to do some research. Determine whether the cryptocurrency has a chance of being improved by technology. Given that Bitcoin is just used as digital cash, there need to be other cryptocurrencies that are cheaper and faster to send. Given its revolutionary status and brand, Bitcoin is still the most valuable cryptocurrency.
Ethereum has its shortcoming given that it can be improved, but it is harder to replicate. However, given the rate at which Ethereum is rising, Ethereum is here to stay. In my view, Ether is not an inferior long-term investment. If you considering Ethereum stock, consider CI Ethereum ETF. ETFs are advantageous to investors given they don’t need to buy the cryptocurrency themselves. So if you’re a long-term crypto investor, it is better to consider Ethereum ETFs.