Now when the Bitcoin has become a globally recognized currency, it’s no surprise that experts, financial or government officials and the wider public are starting to show much bigger interest in various cryptocurrencies. One such interesting cryptocurrency is Ethereum, which appeared much later than the Bitcoin and it’s still trying to stabilize itself.
The Bitcoin on the other hand is making a not so silent revolution in the financial world. Its commercial use is slowly spreading throughout the world, whereas countries like Japan are in the process of installing terminals for paying with bitcoins across 3,000 shops.
You’ll be surprised how deep the Bitcoin has penetrated various industries. It’s a very prominent currency in the online gambling world too. You can’t use it to hit the live casino at winningroom, but there are plenty of other options where you can.
The Cheaper Alternative
The main advantages of the Ethereum according to Mike McGovern of Brown Brothers Harriman & Co, one of the oldest banks in America, is that Ethereum is much cheaper to mine. Ethereum coins require less electricity to mine and are not limited to simply financial transactions.
The technology used for Ethereum makes for limitless possibilities compared to the Bitcoin. This currency is able to represent assets and virtual shares too, smart contracts etc., which is why banks like Brown Brothers Harriman & Co are trying to exploit its possibilities for some time now by investing in it.
The Current Reality
Ethereum has been maintaining big popularity ever since its value suddenly picked up somewhere in the beginning of 2016. It is also interesting for some because of its ability to keep up with the Bitcoin.
However, Ethereum has shown that it can be very volatile in terms of price fluctuations, which is only natural for every cryptocurrency trying to establish itself. The problem of the Ethereum is that its price is tightly linked with that of the Bitcoin.
The way all of that works is a little bullish many will agree, because every time the price of Bitcoin goes up, the price of Ethereum is forced to stabilize itself while experiencing a little drop. But if the Bitcoin goes down, the Ethereum feels a little gain, but usually it goes down too. Fortunately, these fluctuations correct themselves within the hour.
The fact that the Ethereum has no cap limit has also been disconcerting for some people. There are currently 92 million coins and more are mined each day whereas the Bitcoin is limited to 21 million BTC, which also adds to its stability.
Potential investors that are looking for new opportunities should not be deterred by the fact that the price of Ethereum is smaller than that of the Bitcoin. That leaves great room for the Ethereum to grow and reach new heights. And despite the fact that the Bitcoin is a much safer option, there is more and more evidence generated by smart investors trying to show us all the possibilities we can exploit with this currency.