Cryptocurrency

What Are The Reasons To Consider Ethereum Despite Being A Bitcoiner?

Bitcoin may be the king of cryptocurrencies, but have you ever stopped to consider the other members of the crypto community? Yes, Bitcoin is the first-born in the cryptocurrency fraternity, and there is no doubt that it is indeed highly profitable to trade in Bitcoin, but did you know that the cryptocurrency, Ethereum, can be highly lucrative too, if not more? That’s right! Ethereum is almost as popular as Bitcoin, and trading in it can yield booming profits too. Besides, as a trader and investor, it is only prudent to be more open about trading and investment. So, quit being a loyal Bitcoin fanatic, and explore the money-making opportunities of Ethereum. Sign up with ethereumcodebot.com to start trading in Ethereum today.

Why should you consider Ethereum even if you are a Bitcoiner?

Ethereum has carved itself a niche in the financial world, and the ETH tokens are almost as profitable as BTC. Check out the reasons for considering Ethereum for trading and investment.

  1. Ethereum supports the largest ecosystem of crypto projects

Ethereum is not only an electronic currency but a platform based on Blockchain technology. The code that drives Ethereum is Turing-complete, which implies that the platform can operate any smart contract and can solve the most complex computational problems.

The platform features the smart contract EVM (Ethereum Virtual Machine), which uses Ether tokens for peer-to-peer trading and transactions. The Ethereum wallet holds ether and other cryptocurrency assets and allows the creation and use of smart contracts as well.

The New York Times has expressed genuine appreciation of Ethereum and has described it as a powerful, single-shared computer driven by a network of users and resources. Needless to say, the technology of Ethereum is indeed more advanced than that of Bitcoin.

  1. Ethereum has by far the largest ecosystem

It has been four years since Vitalik Buterin began his work on Ethereum, and today the platform and its token have the largest ecosystem in the cryptocurrency world. 2020 witnessed the development of multiple cryptocurrency projects that draw from the technology of Ethereum.

One of these projects is Maker, the platform of smart contracts that works on Ethereum Blockchain. Another popular project is the Basic Attention Token project that operates through Brave to feature an open internet-based model based on Ethereum Blockchain. There are Nexo, Enjin, USD Coin, OmiseGo, and more. The large ecosystem of Ethereum is evident in the popularity and state-of-the-art nature of the platform.

  1. Ethereum is faster and offers excellent security

The smart contracts of Ethereum use the Blockchain-based applications for the negotiation and implementation of contracts. The advanced Blockchain technology verifies and enforces smart contracts by decentralization, which is extremely beneficial for the prevention of fraudulent activities or censorship.

Blockchain technology verifies Ethereum transactions in seconds, and the smart contracts ensure topnotch security. The introduction of Ethereum 2.0 is even more technologically advanced than Ethereum. Ethereum 2.0 is faster and more scalable, in the sense that it can validate more transactions per second.

  1. The augur platform of Ethereum

Augur is the most accessible and no-limit betting exchange in the world that is developed on the Ethereum Blockchain. It is a decentralized market protocol of prediction developed, as the first decentralized application software operating on Ethereum, by Forecast Foundation. Augur enables trading in only a few seconds at a very nominal fee of about 1% and offers betting facilities as well with no caps or limits on the wagering amount. On the Ethereum blockchain, Augur is universally accessible.

  1. Ethereum is the leader of dApps

The Ethereum technology is the basis of more than 2775 decentralized applications on gaming, finance, media, health, and other such niches. Ethereum dominates the dApps market by almost 84%, which makes it way more efficient than Bitcoin.

Conclusion

There are innumerable reasons to consider Ethereum for trading and investment. Its technology is par excellence, and its scalability, security, transparency, and other features make Ethereum and its token one of the most popular choices among cryptocurrency enthusiasts.

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Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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