It has been a couple of years since the first major rise of the cryptocurrency market. These days, almost everyone has heard of some type of cryptocurrency. Whether you have heard about Bitcoin, Ethereum, or Dogecoin, it does not really matter, what matters is that you do know that this market exists. Since you are reading this article, I assume that you already realized the entire potential of the cryptocurrency world. But, this time around, I am going to focus and talk about the coin that is known as an Ethereum.
At the time of writing this, one Ether is around $390 or $400. Keep in mind, the price of this coin varies by a lot from day today. Sometimes it is stable, sometimes it is quite erratic. But, even though it is just a fraction of what the Bitcoin is worth, it is still quite an impressive blockchain platform. You are probably quite interested in this platform and about the price of Ethereum. That is why I decided to talk about its pricing and everything you need to know about it.
What is Ethereum?
What exactly is the public blockchain platform? Well, there is a lot of misinterpretation about this software platform. Ethereum is not exactly the cryptocurrency on the market. This is a public blockchain network/platform that has the feature of smart contract scripting. But, now I got you confused even more. What is a smart contract scripting?
Smart contract scripting is a program that can automatically and safely execute a certain contract. Basically, this program can replace the middleman of a certain transaction. For example, you want to buy a certain product, but you do not want to pay those fees that are usually enforced by middleman websites. With this smart program, you can make a transaction directly, without having to rely on a third-party company to act as a middleman.
Okay, now you understand what a smart contract program is and how Ethereum can be useful in real-world applications. But, why is this platform referred to as a part of the cryptocurrency market? Well, the entire software is supported by the coin referred to as Ether. Through buying, selling, and trading this coin, the entire platform is supported and can continue to work.
Why is it better than Bitcoin?
Now you are probably wondering why people would ever choose to buy Ether when a Bitcoin is worth ten times the price? Currently, one Bitcoin is worth around $11,500. So, currently, it is worth 30 times more than the Ether coin? The Bitcoin is quite volatile which makes an investment in this very risky. You could lose a lot of money in just one moment while Ether stays quite stable in comparison. But, it is obvious that it provides a much bigger potential for making money, so why should Ether be considered to be better?
Well, for inexperienced people, who are not very familiar with the crypto market, it will seem like the bitcoin is the obvious choice. But, the only reason why it is worth so much and it is always in rank number one is that it was the first one on the market. It is the currency that started all of this. Once the huge rise of interest for crypto came in 2017 and 2018, many Wall Street sharks started trading with this coin, making it even more popular.
So, yes, it is expensive and you could make a lot of money out of it, but Ethereum is based on a much more complex technology and coding, making it faster, more reliable, safer, and overall better. I believe that in a couple of years from today, this currency will take the number one spot on the crypto list. If you are one of those people that realize the potential of Ether, you should find a website with the best exchange rates. Great examples of good exchange rates are Binaryx, Gemini, Bittrex, Coinbase, and a couple more.
This is probably the single most asked question when it comes to cryptocurrencies. Everyone would like to invest in this, but they are too afraid because the market is so volatile. I assume that you are interested in buying Ether, but you are unsure whether the price of it will rise or fall in the following months or even years.
In reality, we cannot exactly know whether the price will get better or worse. There simply is no way to know about the future of this currency. If we did know, everyone will start buying it and its value would drop considerably.
However, with the news that is being shared around about this currency, we can form a certain opinion about its potential. And, with its rise in popularity and constantly holding that rank number two right under Bitcoin shows us that there is a bright future ahead.
We also have to consider the fact that Ethereum 2.0 is right around the corner which will probably increase the value of this coin by a whole lot. I cannot exactly know how much, but it could easily double or triple in price in the next couple of months.
When is the best time to invest?
Right about now, you have learned about the most important things you need to know about Ethereum, its price, its past, and its future. Now is the time to decide whether it is worth to invest in it and when you should do that investment.
I think I cannot give you a straight answer to this question because this kind of decision is up to you. Although, I think it is safe to say that right now is probably a good time to invest in Ethereum.
As you can see, the world of cryptocurrencies is complicated, especially if you plan on investing in it. But, after reading through this article, you should probably be ready to invest in Ether and become a part of this new booming market.