As the second-largest cryptocurrency, Ethereum is a popular choice for investors. The Ethereum blockchain is the basis on which a myriad of stable currencies, DApps, non-centralized exchanges, and NFT exchanges are built. Investors who invested in Ethereum in the past five years are now up over 270 times. This kind of capital appreciation is uncommon in any class of asset. If you’ve invested in Ethereum during its nascent stage, you too would have got incredible ETH to INR conversion gains.
But, even with this record-breaking run, there’s a reason to think that Ethereum may offer plenty of upside for investors who are looking to invest long-term. But Ethereum is not the only promising cryptocurrency in the market. Ripple is also catching up to Ethereum and Bitcoin to become a top crypto coin in the space. As Ripple offers the real-life utility of facilitating faster, cheaper, and safer cross-border transactions, Investors find it challenging to pick one between the two cryptocurrencies. In fact, the Ripple price INR has, at times, generated better returns than other cryptocurrencies on the block.
If you’re an investor who wants to pick between the two, you might find Ethereum on the winning side. After talking to various financial and crypto experts, we’ve discovered Ethereum is gaining on Ripple because of the following reasons:
The Value of the Stock is Rising
Similar to Bitcoin, the price of the Ethereum currency, called ether, has increased in the past few months since people began to adopt digital currencies. It’s been traded publicly since 2016, and the supply of ether is restricted to 18 million (approx.) annually. As of now, one ether is well worth more than $2,000.
It has the Potential to be the Future
Digital currencies like Ethereum can change the way that financial institutions operate. Consider Ethereum to be similar to what Uber or Airbnb are in their respective sectors. The trust in traditional markets was lower due to the wake of the financial crisis that occurred a decade ago, and the public is increasingly comfortable with the internet world.
Exchanges Allow Investors to trade Ethereum
The positive side is that there’s many cryptocurrency exchanges that allow Ethereum on their platform, which means you can pick from a variety of exchange platforms. You should opt for a platform known for offering excellent personal account administrators, excellent customer service, and option to convert the purchased cryptocurrency in any fiat currency of choice.
Ethereum can be used to Purchase Items
A growing number of verified businesses accept Bitcoins for payment methods – and the number that are embracing ether is expected to grow over the coming years as people get more familiar with cryptocurrency. For example, Overstock, an online store, announced in the summer that its customers could make use of cryptocurrency to purchase items from its online store, such as furniture, bedding, and DIY.
Ethereum is the Power Behind the NFT World
One of the most increasingly talked about buzzwords in the crypto space at the moment can be “NFT” (non-fungible token). NFTs gained popularity in the past few years because of the dramatic growth in the value associated with these assets. In a famous case, the non-fungible token was purchased earlier in recent years for $69 million. Such price tags are a good way to rapidly draw speculators into joining in the fun.
In reality, Ethereum is the main power behind many of the biggest and most famous NFT marketplaces in the present. Of them, opensea.io has experienced massive growth in recent times. NFT investors are reportedly enjoying the versatility of making use of Ethereum to exchange their art.
Is Ethereum a Safe Investment Option?
No matter how lucrative a cryptocurrency looks, you should not forget its fundamental nature, i.e., volatility. Ethereum is a relatively promising cryptocurrency, but can it beat out competition in the rapidly growing cryptocurrency market? It will be interesting to see. But, those who want to invest in the largest and most stable ecosystem have plenty of reasons to look into Ethereum now.
