What should you know about Ether? A complete guide
Ethereum is comparatively new to Bitcoin, but it has a lot of potential. Know all about it, and make the right decision regarding Ethereum investment.
If we follow the recent market trends, we will see that Ethereum is slowly gaining momentum. Although it’s nowhere near Bitcoin’s market share, Ethereum is a worthy investment option. If you are planning to invest in it, you must have information about its current price. An Ethereum price tracer online can help you with that. Before you decide to invest in it, you have to learn about it first. Ethereum is a decentralized cryptocurrency, and it is mainly used in smart contracts. However, you cannot invest in it, like you would in Bitcoins. Instead, you have to have a digital wallet. You need to contact a cryptocurrency exchange if you want to buy these currencies. Why do people want to invest in it? One, Ethereum is quite popular, coming second to Bitcoin. Second, it is quite accessible, compared to its predecessor. However, it presents a higher earning potential than the former. There are other benefits of using Ethereum too. For example, the coin limit of Bitcoin is 21 million (max). However, Ethereum does not offer such caps. As mentioned earlier, it is used as smart contracts (to avoid the risk of frauds, and theft). So, obviously, it will use advanced technology than Bitcoin. The algorithm used in this money is Ethash, a fast and advanced system. Due to this algorithm, the processing speed is faster than Bitcoin. What should you consider before investing in Ether (a currency of Ethereum)? Of course, you have to consider the current price of Ether. Also, the current price of Ether is $384.96 (US dollars). You need to see how the market is reacting to it, and how the experts are predicting its future potential. It’s all about timing actually. We will discuss a case study here to understand it. Ethereum was first introduced to the community, way back in 2015. At that time, some bold investors bought it at a minimal price. Ether’s price first
showed a rapid boom in 2018, as the price was $1,400. As you have probably guessed, the profit margin was quite high for those investors. Since then, people have earned significant profits from Ether. If you did not know about it or did not invest in it, don’t worry. There are people who are stocking Ether, waiting for the perfect time. You can join them if you want, and reap the benefits. However, you must study the market dynamics properly, and heed an expert’s advice. Keeping an eye on the Ethereum price tracer online will be a wise choice. Actually, without it, you would be clueless, which is not something you would want. You have to choose a tracer that is accurate, however. Otherwise, you might make a wrong move. So, by now, you would have a preliminary idea of Ether and its potential. We will discover more of its characteristics, later on. For now, I will wrap this up by saying that Ether does have the potential of beating Bitcoin. How long does it take to do that is another question.