There are no two ways about the fact that Bitcoin and Ethereum are the two most dominant and well-known cryptocurrencies in today’s times. Rather, this has been the trend since their origin and they have been unwavering in their position. They make up a total of 64% of the total market cap and together, they are virtually unstoppable.
Even today, when investors seek to join the trends of cryptocurrencies, they primarily enter the arena due to the charm of these two. The unparalleled results and returns these cryptocurrencies have given their investors have only led to an increase in their demand.
Cryptocurrencies in India – Until a while back, many skeptics did not think it was wise to invest in cryptocurrencies as they might face a ban and as a result of that, would have to incur severe losses in terms of their money. It would lead to a huge financial setback even in terms of planning and savings. However, with the new rules and regulations as set by the finance minister of India, people are now entering this sector with more confidence and vigor. Even now, many people are primarily looking for a cryptocurrency exchange in India to invest in Ethereum and Bitcoin as they are the ones that have proven to be the most lucrative ones of all.
Why bitcoin? – If bitcoin is so expensive and the whole cryptocurrency market is volatile, does it make sense to invest money in Bitcoin? What if the market crashes and the sum invested all goes to waste? These questions are natural and therefore, it is important to first be convinced as to why investing in Bitcoin might be a good idea:
- Bitcoin, being the first cryptocurrency, is known as digital gold. It is the most valuable crypto on the market despite its volatility. The coin value has seen a sharp and significant rise in recent years making Bitcoin the most successful asset in recent times. Bitcoin is seen as a store of value like gold and it also guards the investors against inflation.
- Another one of the biggest advantages associated with Bitcoin is the high accessibility and liquidity associated with it. This means that it is a versatile currency that can be accessed by anyone at any point in time. Since the transfer of bitcoin only takes a few minutes, it can be used to also gain access to different services online.
- In March 2017, the price of bitcoin was approximately 975 dollars and in December, it spiked to 20,089 dollars approximately. This shows the potential that this coin has over the market and the possibility of very high returns are also probable. Investors and experts believe that bitcoin can even go as high as 5,00,000 dollars by 2025 if things are right in the market. The fixed supply cap of 21 million coins and the extremely high demand for this coin are the two factors that are leading to this prediction.
Why Ethereum? – Another thought that might come into the minds of people would be that if you are investing a large sum, why not just go for the best? Why put that amount of time and effort into how to buy Ethereum? Well, ETH is the best altcoin and has been in that position since its origin. This means that you, technically, are investing in the best. There are several advantages that ETH might have over the other cryptocurrencies and even over bitcoin.
- It is not just crypto and a token. It provides a platform for several interested investors to be able to join the network to build DeFi apps and smart contracts. This helps the community grow even further and allows the investors to do a lot more than simply buy, sell and trade in the cryptos
- With the launch of Ethereum 2.0 and the shift toward a proof-of-stake consensus mechanism, the attraction toward Ethereum has increased even more. It is now dominant in the news for all the changes that it is bringing about in its technology that is making it an even better choice – as a network and also as a medium of investment.
- Ethereum as crypto and as a network /technology is backed by several institutes and companies that provide faith among the other investors. It has a huge network size wherein millions of users can function effectively using the hundreds of nodes on the platform. This also makes it a good choice for corporate collaborations.
Whether you buy bitcoin or Ethereum is a matter of choice and personal preference, however, both these cryptocurrencies are at their best and there is still a lot more to come. This should be a great indicator of the untapped potential of these cryptos.