Bitcoin vs Ethereum – How They Compare and The Latest Trends
Get up to date in all the latest numbers on Bitcoin and Ethereum, and where you can trade them fast using Advance Cash
With the cryptocurrency world constantly on the move, it can be difficult to keep up with the latest trends. But there does seem to be two constants here. There are over 1600 different cryptocurrencies on the market today, and all the way at the top sits Bitcoin and Ethereum.
Bitcoin has been the most popular and valuable option for some time now and has seen peak levels in value this year, hitting $63,000 per bitcoin! But Ethereum has been steadfast in staying in the game and giving bitcoin a run for its money.
Bitcoin (BTC), was the first cryptocurrency to be created, all the way back in 2009. It paved the way for people to make payments and transactions securely using cryptography while remaining anonymous. By design, Bitcoin's creator made sure that transaction fees would much lower than those compared to traditional banks, as well as no monthly maintenance fees or middlemen being involved. Since 2009, Bitcoin has managed to rise to the top in popularity and it has the highest market cap out of all the other alternative currencies.
Current numbers for Bitcoin
Although it's currently still number one, Bitcoin has seen some negative trends in the last few days. According to Coindesk, “despite going as high as $56,574 to as low as $53,780 over the past 24 hours, bitcoin's price is relatively sideways since 0:00 UTC on Tuesday (8 p.m. ET Monday). It's a respite for a market that saw a deep dive during the weekend as record-high action in the derivatives market saw the price of the world's oldest cryptocurrency drop to $53,787 according to CoinDesk 20 data.”
It's worth mentioning that Bitcoin “is still 93% higher than it was in January. Volatility is routine for the asset class: The 15% intraday drop on Sunday was only the biggest since February.”
On the other hand, Ether has seen an increase of 200% in 2021.
Ethereum was created by Vitalik Buterin in 2015 and has since risen to be the 2nd most valuable and popular cryptocurrency on the global market. Ethereum is not exactly the same as Bitcoin, as Bitcoin is a currency, whereas Ethereum is actually a ledger technology. But possibly the biggest difference between the two is that ETH offers users the option to use smart contracts, which are complex contracts that define when and how funds can be transferred.
But in one way, Ethereum does operate similarly to how Bitcoin operates, as it uses peer-to-peer payments.
Current numbers for Ether
As briefly mentioned before, Coindesk states that “Ether (ETH), the second-largest cryptocurrency by market capitalization, was up Tuesday, trading around $2,313 and climbing 6.3% in 24 hours as of 21:00 UTC (4:00 p.m. ET). Darius Sit, chief investment officer for quantitative trading firm QCP Capital, doesn't see any fundamental reasons why ether's performance was much higher on Tuesday when bitcoin traded relatively sideways. ‘Don't see anything material,' he told CoinDesk.”
In the business of cryptocurrency investing, it can sometimes be difficult the understand the real reason for market trends. But one thing that appears to be obvious, is that traders are rotating ETH and out of other cryptocurrencies.
Where to trade Bitcoin and Ethereum with Advance Cash
As mentioned at the beginning of the article, it's time to cover where you can trade in or buy all the top cryptocurrencies. On exchanges, in crypto trading platforms you can do just that in no time. Trade, buy or sell Bitcoin or Ethereum using Cash Advance. And one great aspect of trading platforms is that there is no drawn-out sign-up process, and users can remain completely anonymous, meaning no personal information is needed to start exchanging. This characteristic of remaining anonymous and respecting privacy is of utmost importance to users and investors of both Bitcoin and Ethereum alike.
Which is the better investment, Bitcoin or Ethereum?
In the end, both ETH and BTC are considered to be great investments as it's obvious that the world is steadily growing to accept cryptocurrencies and use them as a part of mainstream finances. It really just depends on an investor's risk profile. Bitcoin is the biggest and most trusted digital currency out there. Investing in bitcoin is equal to making an investment in gold. While Ethereum brings with it promising new technology and is firmly showing the world that it is ready to change the game.