Altcoins for sure are in a quick race to try their luck in upstaging bitcoin from its prestigious lead as a most transacted and popular crypto. Granted, bitcoin has broken new grounds including becoming a legal tender for two countries already and the future still appears more luminous than ever. But, altcoins will not just give up in their journey to offer great solutions that maybe crypto ignores. Ether for example has shown great possibility in smart contracts.
Since cryptocurrency is a fast evolving field with new altcoins emerging and some dying, investors need to choose from the best options. So, if not bitcoin, ether should be it. Ether has shown reasonable consistency in price and value even when bitcoin was tumbling. The intention here isn’t to badmouth bitcoin but just to draw some important lines that lead you as a potential investor to great crypto investment options.
A synoptic account of cryptocurrency
Since its creation, cryptocurrency has absolutely taken the world by storm with many testimonies of winners and fortune makers. Budding investors who want to have a piece of pie in crypto trading should put their money on Ether. The only way of knowing if cryptocurrency is a household full of fortunes is by getting in.
When it had just begun, the cryptocurrency industry only had one cryptocurrency in place in 2009, that is Bitcoin. But later as technology grew further, the experts in this field started to come up with more alternatives from 2015. All these alternative cryptocurrencies from Bitcoin fall under a collective name, altcoins. Ether was the very first among the alternatives to come in place and the rest followed suit.
Being the first altcoin to ever exist, it mainly compliments Bitcoin and mainly succeeds the idea of cryptocurrency for transacting. Ether doesn’t directly compete with Bitcoin but rather builds platforms and other currencies. For this and other key points that I will present here has elevated Ether to be the number among the best altcoins for most cryptocurrency beginners.
Ethereum (ETH), the Giant altcoin chasing bitcoin
Commonly referred to as Ether, Ethereum stands out from other cryptocurrencies from one simple fact that it doesn’t directly compete with Bitcoin. In almost every way, Ether compliments the giant cryptocurrency Bitcoin. It is now obvious that it is not only Bitcoin that can be used for transaction purposes but Ether can too.
Ether was first brought to the market in 2015, and since then it has quickly grown in terms of value hence its popularity. Ether is basically used to build other cryptocurrencies and build platforms. What it means is that you can create your own cryptocurrency but based on Ethereum technology. Bitcoin is a store of value while Ether is a decentralised platform where builders establish their future in the technological innovations of blockchain technology.
A lot of similarity exists between Ethereum and the giant Bitcoin but most altcoins are built on the application and technology of Ethereum. With the existence of Ether, it has become very easy to create new cryptocurrencies. The most astonishing aspect is that a blockchain technology is also being built which means Ether is also a decentralised currency.
Why Ether is the Best Choice for Budding Investors
Just like Bitcoin, Ether is a very popular cryptocurrency and the very first among the numerous altcoins. If you want to buy Ether, it is relatively easy to start and get. This cryptocurrency also works using blockchains the same way Bitcoins do. Remember I earlier stated that Ether simply compliments the giant.
Ether exhibits a relative infancy as compared to Bitcoin as it is very ready to follow Bitcoin footsteps. The development experts around Ether recently created the second genre known as ETH2 and ETH3 which are complete. ETH2 and 3, possess a feature of smart contracts which has effectively increased speed and reliability of blockchain technology.
On the other hand, the token markets are soaring high as Ether got some of the hugest operations especially in gaming retail. With a market capital of $496.949 Billion, any budding investor in Ether is assured of very heavy returns on their investment. About $1 trillion dollars is the total market capitalization of close to 20,000 cryptocurrency assets in the crypto industry today. Ether holds about 20% of this market capitalization which makes it the biggest altcoin in the cryptocurrency market.
The strength and popularity from a leading Avalanche which is yet another cryptocurrency and Ether-based token is also surging. This Ether-based token is gaining its momentum in the market very fast with cryptographic security and very fast speed of transactions. For sure no investor would want to miss out on trying their luck with an avalanche.
Buying Ether
If you are a beginner in the realm of cryptocurrency, there is just a lot that you may not be aware of. Thus, the need to get familiar with some key details on cryptocurrency investment especially on Ether, the upcoming giant in the market. Therefore, if you want to buy Ether, it is relatively easy to start.
Various websites can allow you to purchase and sell Ether while at the same time provide you with a digital wallet to store your coins. However, it is vital that you have a thought about security when contemplating upon your online purchase. You must therefore select an altcoin exchange with approval for instance eToro.
After establishing a favourable website, you will have to register and deposit your money then buy. Buying Ethereum is safe but this doesn’t put it off from also being a risky drive though it is quite tempting. Many people have published and talked about their success stories, something that would push you to try and have a piece of this pie.
The value of Ethereum can fluctuate suddenly and highly. All you should do is to take your time and study how the cryptocurrency market operates. You can buy Ether when the prices are low and prey for the season of high prices then sell to make money. Many have made some huge returns from this operation.