Bitcoin VS Ethereum – how to invest correctly?
At present, there are several crypto-currencies in the world. So people try to compare them and understand which one will bring them a higher profit. Many users suppose the difference between Bitcoin and Ethereum may be just the same as between currencies of different countries. This is not actually so. So let’s consider it in detail.
What is similar about Bitcoin and Ethereum?
First, these are crypto-currencies. That means they are digital. They exist in the virtual world and are accumulated on the internet. You can’t have them in cash.
The great advantage of such crypto-currencies is that you don’t keep them in one place. They are stored via numerous computers. Say, subscribers who chose Bitcoin service keep and manage their money via Bitcoin hardware. That’s far better in terms of safety. Even if there may be some issues with any of the computers, others are still working properly. So your assets in crypto-wallets are still ok and available.
Another feature is you store your Bitcoins or other crypto-money in an encrypted format, i.e. anonymously. So the government and other authorities can’t trace it and just take even if they want for any reason.
What is btc, you can read here .
Bitcoin VS Ethereum: what makes the difference?
As clients utilize these cryptocurrencies, they come to the following conclusion. Bitcoin is better to store money online while Ethereum is preferred when it comes to transactions. With the first system, there are several steps to make a payment. Bitcoin clients are to log in into their account, specify the amount of money, then enter the Bitcoin address of the person you want to send it. With the second one, it can be done automatically.
What is the ‘smart’ thing about “smart contacts”?
Obviously, automated processes save time, effort and money too as you don’t have to pay for bank commissions. This is what is called a “smart contract”. The unbeatable benefit about it is that such automated contracts can save on human resources wages. That’s why large companies have been investing a lot of money into them recently. Ethereum is a means to operate smart contacts. So while they are in a great demand, this cryptocurrency is in demand correspondingly and its rate goes up.
Choose the right time to gain your profit
A few months earlier, experts advised to buy Ethereum and predicted it would grow up. They proved to be correct. Those lucky ones who bought the currency at USD 40 a few months ago, could trade as much as USD 400 for it. So as you see it’s a volatile asset. It is possible to make good money following the price fluctuations. The same about other currencies. Stay up-to-date with Bitcoin news as well. It can help to make the correct prognosis about the correlation of the Bitcoin current price and its possible value in the future. When the price drops it is high time to invest your money!
So, don’t lose your chance and good luck!