While most people have heard about Bitcoin, which is not a surprise since it is breaking new records in 2024, you have to know that many other excellent options might bring you an even higher profit on your investments. The cryptocurrency that has a similar market share and almost the same popularity as BTC is Ethereum. There is a big price difference, but the blockchain of this crypto offers a much bigger potential than the first one that is the background of the most popular option. Investors need to look for some other options besides Bitcoin since that can improve their chances to make a profit. If you are interested in trading with BTC, visit this site.
The high popularity of Bitcoin is affecting the whole market, where people might become interested in other options as well. However, Ethereum can have an even bigger influence with its unique blockchain where people can create their tokens and share them on the market. Many other advantages might affect it to become the most popular digital asset in the future. Here are some of the main reasons why you should invest in ETH in 2024.
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1. Smart Contracts
One of the main advantages of this blockchain-based asset is the smart contract feature where people can avoid official institutions and banks and create decentralized valid documents. With this system, you can avoid paying for a lawyer or other people for making transactions of various assets. This feature makes ETH much more effective than Bitcoin. Also, we have to mention that this option is free and simple. There is no need for fees since you can automatically transfer the asset to another person without the need to involve a third party.
2. It is Decentralized
This feature is the same as for Bitcoin, and many people find it very important because the fact that no one can control the system makes it a perfect method for protecting your assets from the recession, which has a high chance of occurring in the next year or two. Moreover, the transactions are much cheaper since you can avoid banks and their high fees. You can simply use an e-wallet and transfer money to anyone instantly. Also, we have to mention that the system is safe and you can remain anonymous.
3. Open Source
Another difference between the blockchain systems of ETH and BTC is that the developers of Ethereum use the open-source which lets them upgrade and develop it all the time. In that matter, this feature might influence it to have even higher popularity, especially when countries decide to regulate this market and implement it in the standard monetary system. Also, it has much higher stability since every error can be easily solved when you have an open-source system.
4. It is Safer than Bitcoin
It is very important to learn more about all methods that scammers are using to steal your funds. Some of the most popular techniques are phishing, pyramid schemes, viruses, and more. However, the advantage of Ethereum is that it has an advanced system of protection implemented in the blockchain. That makes it near impossible for anyone to create a fake token that can be similar to this option and lure people into investing in it.
5. It is More Affordable
When we compare the raising trends in percentages, Ethereum had an even bigger increase in value when compared to last year. The price was only around $100 in one moment in 2024, while the current value is over $1,800. Also, according to many predictions and the real potential of this cryptocurrency, there is a high chance that the price will continue to grow. In that matter, investing in it might be a much better choice than choosing the BTC because you will need less money. while the chance for making a profit is even better. Also, we have to mention that many big corporations are interested in investing in this option.
6. Excellent Predictions
It is essential to read the news related to this market. However, you should only rely on articles from experienced experts in the economy who are familiar with the blockchain market. According to some of those predictions, Ethereum has a great potential to continue with the rise of value over time. Some of them are predicting that the price will reach the value of around $10,000 in the next few years. Also, the interesting thing about some previous predictions is that the current value is even higher than those statements. For example, many experts thought that the price will remain stable at around $900 in 2024, while the current price of over $1,800.
As you can see, the ETH represents another excellent trading option that might bring you high profit over time. However, you should learn more about trading and find the best strategy to secure your assets. It is crucial to create a proper trading strategy where you should involve the risk management and determine the best moment for investing. Also, it is very important to choose between various options since many other cryptocurrencies might become more valuable over time.
The leading feature of Ethereum is that it can be easily regulated by officials. There is a high chance that the countries will demand the regulation that will involve taxes, which is the main reason why some people are still suspicious of these assets. On the other side, we can see that many states are quite interested in implementing this system in their economies. The great advantage is that you can secure your property by investing in blockchain assets.
There is a high chance that the whole world is going to face another recession that might be even worse than the one in 2009, which affected the creating of the first cryptocurrency as well. Also, we can notice that a lot of businesses are already accepting payment with an e-wallet, and the increase of ATMs with the support for cryptocurrencies all over the world.