A recent report from Gemini stated that over 29 percent of Americans aren’t investing in cryptocurrency because they don’t understand what it is or how to use it. Unfortunately, those who fail to invest in cryptocurrency may miss out on becoming the next rich crypto holder. The good news is that you still have a chance to hit big in investing in cryptocurrency.
Today, we will focus on explaining the two most popular cryptocurrencies. Once you understand the differences between Bitcoin vs Ethereum, you’ll start making money!
What is Bitcoin?
Most people investing in Bitcoin have no idea about its origins and creators. The only thing they know about investing in Bitcoin is that it’ll make you rich. While that may be true, it’s important to understand the origin of Bitcoin and why it’s profitable, especially when discussing Bitcoin vs Ethereum.
In early 2009 a mysterious figure (or group) called Satoshi Nakamoto designed a digital coin that could work without a middle man. That electronic cash method became known as Bitcoin-the first of many cryptocurrencies. But, it wasn’t until 2017 that Bitcoin became extremely profitable when one Bitcoin was worth several thousand dollars.
Investing in Bitcoin – Is It Safe?
Without a doubt, Bitcoin controls the whole crypto market, which means whenever Bitcoin does good, the other coins do. Nowadays, thousands of businesses accept Bitcoin as a form of payment, and many others are considering it. On top of that, some Governments like El Salvador are allowing people to use it to pay for everyday items.
These factors make investing in Bitcoin safe and profitable since both businesses and countries have adopted it as a payment method.
What is Ethereum?
The second most popular cryptocurrency is ETH, and it’s still obtainable for most people, unlike Bitcoin. ETH started in 2013 as an open-source project that thousands of people have contributed to throughout the years. Interestingly enough, most cryptocurrencies are built on the Ethereum blockchain.
Should You Be Investing in Ethereum?
Unlike Bitcoin, Ethereum is completely anonymous, meaning people cannot trace any payment done on the ETH network. Of course, this can lead to some people misusing Ethereum, but several safety nets prevent criminals from using it.
Another reason you should start investing in Ethereum is that it’s completely programable. That means that tech engineers can continue to change Ethereum and improve its structure.
In addition, several organizations are working with ETH to create their own cryptocurrency. You can also easily use a Crypto Wallet to store your ETH since its coding is a lot simpler than Bitcoin’s.
Bitcoin vs Ethereum – Which One Will You Choose?
The differences between Bitcoin vs Ethereum are quite obvious. Investing in Bitcoin will net you huge profits while investing in Ethereum will help improve cryptocurrency transactions. Of course, the best thing to do is invest in both of them since you want to earn some money and help establish a strong foundation for the crypto world.
Did you find this article helpful? If so, be sure to check out our other crypto-related posts. Without a doubt, you’ll find another post that will help you.