Ethereum has a large existing network, a wide array of functions, and there’s constant innovation. You can also use it at more places than you may think - and within the next few years, the number of places that accept cryptocurrencies is expected to grow. Why Invest in Ethereum (Or Not)?Įthereum is one of the safer options to invest in, ranked in the top 10 regarding price and stability.
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The network operates through “smart contracts” written in computer code that is uploaded to the blockchain which other cryptocurrencies operate through.Įthereum currently doesn’t sell as high as Bitcoin, with its price (as of March 2023) at $1,641.82. However, there are also some significant differences. The second most popular form of cryptocurrency, Ethereum is an open-source network managed by users, much like Bitcoin.
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Read more: How To Invest in Cryptocurrency: A Beginner’s Guide Ethereum (ETH) Source: leksiv/ Rather, these are coins that have people talking and that may be worth considering if you’re looking to expand your crypto portfolio beyond Bitcoin. We’re not going to promise you any get-rich-quick coins. If that’s your goal, this article isn’t for you. You’ve probably heard plenty of buzz over the years about “meme coins” and random success stories of ordinary folks becoming millionaires through cryptocurrency investing, just by seeking out Bitcoin alternatives. With that warning out of the way, let’s look at some alternatives to Bitcoin. Read more: 5 Things You Should Know Before Investing in Crypto 8 Alternatives to Bitcoin
You shouldn’t risk money in cryptocurrency that you can’t afford to lose.There’s volatility in the cryptocurrency space.So, what does this mean for you if you’re considering investing in cryptocurrency? And some smaller coins have had even sharper declines. Later, with the collapse of massive crypto exchange FTX in November 2022 and a number of firms filing for bankruptcy soon after (including BlockFi and Genesis), the losses continued to pile on.Įven Bitcoin has dropped in value, from its peak at $69,044.77 to hovering around $28,000 (specifically $28,349.25 on March 31st, 2023). As a result, some people lost their life savings and othersbit debated exiting the cryptocurrency space altogether. In May 2022, the collapse of TerraUSD (a stable coin) along with its sister token, Luna, wiped out billions in the cryptocurrency market - about $40 billion, to be exact. More than a few collapses have shaken the crypto market in the past year. With recent moves by the U.S Federal Reserve to combat high inflation by raising interest rates, on top of global instability, there has been a knock-on effect that’s played out as decreased valuations and even bankruptcies in crypto.
Even those coins that are considered the “best” cryptocurrencies have dropped in value. What’s Happening in the World of Cryptocurrency?Īs you may have noticed, the prices of cryptocurrency tokens have drastically decreased in recent months - with many investors calling it a crypto crash. What’s Happening in the World of Cryptocurrency?.
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