Our economy has slowly started shifting to a crypto economy with all of these digital currencies in circulation now. There are currently over 900 cryptocurrencies available, and that number continues to grow. With 900+ cryptocurrencies, people have a wide variety of options to fill their e-wallets with.
In recent news, the real crypto battle seems to be between bitcoin, the first cryptocurrency that was created nine years ago, and ethereum, which is still relatively new but has gained quite some traction in the past three or so years. So which one is better to buy?
Off the bat, a fair amount of people would say that bitcoin is the better cryptocurrency because it has been around the longest and has the highest value per coin. However, ethereum, though not as “old” and lower in value, has some interesting aspects that bitcoin does not have.
Most people know ethereum for its smart contract technology. Smart contracts are a vital aspect of the cryptocurrency itself as well as the blockchain industry since they allow people to create decentralized applications and agreements. Bitcoin is looking to integrate this protocol soon since it lacks the decentralized application possibilities. However, it is predicted that this technology will be relatively mainstream in terms of cryptocurrency in the future. But for now, ethereum has the technological edge over bitcoin from this perspective.
Bitcoin and ethereum also differ in the number of coins that are in circulation. There are significantly fewer bitcoins than ethereum ethers. The supply of bitcoins is capped at 21 million whereas ethereum has 92+ million — and more are being mined each day.
Ethereum is not the only cryptocurrency without a fixed supply cap, but this lack of a maximum coin circulation limit could lead to issues in the future. Bitcoin is much safer in this regard because there is a finite supply available for people to buy.
Both, bitcoin and ethereum, in the past few months have seen significant gains in overall value. The increase in the value of bitcoin has been a bit more steady over time and percentage-wise smaller than ethereum, but bitcoin has also been in circulation for longer. Ethereum on the other hand, has seen faster, more exponential gains.
Also noteworthy, the value of ethereum is inversely proportional to price of bitcoin, meaning that when the value of bitcoin increases, the value of ethereum will tend to go down a bit until stabilizes and vice versus. Both of these cryptocurrencies are extremely volatile; when there is a shift in the market, bitcoin and ethereum have proven to correct themselves within a few hours of the price change.
For the current market, bitcoin is clearly the more dominant and consistent cryptocurrency, while ethereum seems to being trying to stabilize a bit more. Bitcoin is the “keystone” in cryptocurrency — the value of all cryptocurrencies depends on how bitcoin is performing, and ethereum is no exception to that.
At the moment, Bitmoney.eu makes it possible for people within the EU to purchase bitcoins with their user-friendly, safe, and secure transaction platform. They accept four popular online payment methods, including iDeal, Sofort, Bancontact, and GiroPay. They also have bank transfers and Visa/Mastercard payment options in the works.
Bitmoney.eu is also looking to expand even more by incorporating different cryptocurrencies into their platform — ethereum included. Additionally, Bitmoney.eu would also like to incorporate the option to buy litecoin, with its recent boost in value.
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