Do you have any idea about the world’s most valuable cryptocurrencies? You might be aware of Bitcoin & Ethereum, these are the world’s most valuable cryptocurrencies now. Bitcoin & Ethereum are the highest paying cryptocurrencies but today we are going to talk about which crypto is good for investing.
We need to discuss both cryptocurrencies because they show the highest return on investment from the time of introduction. If we talk about Bitcoin then it was founded in 2009 and the price was less than one US Dollar, but now its value is more than Forty thousand US dollars.
If we talk about Ethereum then it was founded in 2015 and the price was One US Dollar but now in 2022 Ethereum price is more than Three thousand US dollars. Both cryptocurrencies show excellent growth but still the fight of the best in both going on, that what we research and discuss with the financial experts, investors, and investment advisers that we will share here in this blog
Basic Details About Bitcoin
- Bitcoin was the first cryptocurrency that is based on blockchain technology, it was written in 2009 by Satoshi Nakamoto.
- Bitcoin is completely a digital currency.
- It is used to fix the problems associated with global finance.
- Bitcoin does not need any third party for the transactions like PayPal, Neteller, etc.
- Used for manual transactions like purchasing goods, services, or receiving money over digital platforms.
- It is a liquid cryptocurrency that means that you can get cash in the exchange for bitcoin.
Basic Details About Ethereum
- It was the synonym 2.0 of blockchain technology and was founded in 2015.
- Smart contracts are the main way for transactions.
- Its smart contracts will eliminate the third-party uses for the transactions.
- It takes seconds to complete the transaction.
- It provides a platform for smart contract apps.
- Ether is highly liquid, you can convert ether coins into cash instantly.
Bitcoin And Ethereum Price Chart
The prices of both cryptocurrencies can be checked with the help of the Bitcoin vs Ethereum price chart
Source- Statista : Ethereum (ETC) Price per day from August 2015 to January 2022 (In USD)
Source- Statista : Bitcoin (BTC) Price per day from October 2013 to Jan 7, 2022 (In USD)
Key Differences In Bitcoin And Ethereum
To find which type of crypto is good for investing we need to understand these main pointers
On The Basis Of The Concept
The basic concept of Bitcoin is simply that bitcoin is written for digital currency or we can say digital money. But on the other hand, Etherum is completely known for smart contracts.
On The Basis Of Their Purposes
Bitcoin was proposed for the storage or sending money to someone, this is the way transactions of money over the internet.
Also, Etherum is known for the transaction but this is also known for the development of the d app smart contracts by cryptoucrrency software development companies, which allow sending tokens that represent value.
Type of transaction and its representation in both
Bitcoin transactions are manual and presented like- “Peter Parker sends 100 BTC (Bitcoins ) to May Parker”
Ethereum transactions are automatic or programmable and represented like- “Send 100 ETH (Ether) from Peter to Many if Peter’s balance is 150 ETH and the date is 31.01.2022”.
Speed Of The Transaction In Booth
Bitcoin transactions took one minute to proceed or on the other hand, Ethereum transactions took seconds to proceed.
Both Cryptocurrencies Coin Supply
Bitcoin coins are in limited supply and that is 21,000,000 but on the other hand, Etherum coins are not limited they can be
Age Of The Both Coins
Bitcoin was founded in 2009, so it is 12 years old but Etherum was founded in 2015 and now it’s 7 Years old.
For a Quick Review, We Can Understand Both Cryptocurrencies In A Short Table Formation
|Key difference based||Bitcoin||Ethereum|
|Concept||Digital currency||Smart contracts|
|Purpose||Real currency||Dapps/ smart contracts|
|Representation||Peter Parker sends 100 BTC (Bitcoins ) to May Parker||Send 100 ETH (Ether) from Peter to Many if Peter’s balance is 150 ETH and the date is 31.01.2022|
|Speed||In minutes||In seconds|
|Age||12+ Years||7+ Years|
Pros of Bitcoin & Ethereum
- Free from physical barriers
- Low transaction fees
- Fast transaction speed
- Easy mobile payments
- Uses of blockchain technology and network
- Etherum is a decentralized currency
- Etherum attracts businesses more than another cryptocurrency
- More secure from other cryptocurrencies
- Etherum is the main platform of crypto market
Cons of Bitcoin & Ethereum
Cons of Bitcoin
- It is highly volatile
- In bitcoin risk of loss is high
- Bitcoin had issues with its security
- Increment of cyber attacks over bitcoin
- Bitcoin is not decentralized, it means can be attached by hackers
Cons of Ethereum
- Etherum is struggling for the scaling purpose
- It used a complicated programming language that was not easy to code
- Ether is like Gas
- Ether is not capped
- Like other cryptocurrencies ether also took the risk of loss
Fight For The Best, Who Won?
If you talk about this question then it is clearly proven that in some cases Bitcoin is the best cryptocurrency for investment and in some cases, Etherum is superior to bitcoin. Still, Bitcoin is on the top of the worth purpose so a few people can think to purchase Bitcoin buy Ethereum is the best cryptocurrency to invest in n 2022 because it is still affordable for many people. Both are winners. Plan according to your preference.
There is various cryptocurrency available in the market every day. Thousands of cryptocurrencies are written by crypto developers. Also, thousands of cryptocurrencies shut down their operations. This is just because the market capital of crypto is equally shared between Bitcoin and Etherum.
These both are the market leader and trusted by millions of people. If you are planning to invest in crypto, these are the best options to invest in. We will share many more about the crypto investment world, stay tuned with us. We aim that our information will help you to find the best solutions.