Cryptocurrency has been in the media spotlight a lot as of late. From the increased prices of Bitcoin to the public support and hyping up of Dogecoin, by Elon Musk, as a new means of online currency, we feel confident that people reading this piece and beyond are familiar with the term.
We would be correct in saying that Bitcoin is the biggest of all the existing cryptocurrencies that exist. First created in 2009, this virtual currency has gone from strength to strength over the years. However, much like other things in life, it has faced a great deal of hardship to get to this point.
As Bitcoin has increased in cost, so has the amount that it costs to purchase the currency. Ethereum is another form of cryptocurrency, one that is more affordable than Bitcoin. Is it better than Bitcoin? Read on to find out more.
Bitcoin vs Ethereum: The Basics
As the longest-standing form of Cryptocurrency, it is easy to see why this is the most popular. It has made many people incredibly wealthy in recent years and has been steadily increasing in price throughout the first few months of 2021.
Bitcoin and Ethereum have a lot of overlapping similarities. Both are online currencies, and neither have a centralized governing body overseeing transactions. There are no physical forms of either currency.
The differences that lie between the Cryptocurrencies include the following:
Bitcoin: Unlike other forms of cryptocurrency – at the time of writing – this is the only one that is being widely accepted as a form of payment from platforms like PayPal. That is not to say that it is better than any others, however.
Ethereum: Ethereum can be used in the same way as that of Bitcoin but can also be used to develop applications and execute smart contracts. Pretty handy, if you ask us.
The Future of Ethereum
Naturally, like other Cryptocurrencies, the popularity and interest in Ethereum are set to rise. Whether this is in the coming weeks, months, or years, it is something we feel confident will happen.
At the same time, much like Bitcoin, those who are interested in getting some cryptocurrency for their digital wallets have ample opportunities to buy Ethereum. Paxful and a handful of other platforms have created detailed lists of the best places to buy. You will be able to find something to suit your budget and needs.
Furthermore, some rumors are flying around as of late surrounding the ways that Bitcoin and Ethereum are mined. With some evidence to suggest that recent breakthroughs could make Ethereum more environmentally friendly than Bitcoin, you could reasonably guess that it might dethrone Bitcoin as the leading form of cryptocurrency globally.
While this was just a small insight into all things Ethereum, we hope that it has shed some light on this form of Crypto. One thing is for sure; Bitcoin certainly has its work cut out for it when upholding its reputation as the largest and longest-standing Crypto.