Bitcoin VS Ethereum: Which one is the Best?

Bitcoin VS Ethereum: Which one is the Best?

Bitcoin VS Ethereum: The Performance in August 2017

In this guide, we’re going to settle the Bitcoin VS Ethereum debate. Bitcoin has been one of the best-performing cryptocurrencies in the world. It was the catalyst in the blockchain revolution and has kept growing since 2010. The currency has seen many crashes but has still recovered every time. As of August 2017, Bitcoin hit its all-time-high of $4400 and it’s maintaining above $4000 for now. Ethereum, on the other hand, has been showing signs of lowered performance. The currency grew to $400 when people thought that Ethereum will grow much higher. Unfortunately, a flash crash devalued Ethereum to under $300 and since then, it’s been hovering around $250-$310. In the past month, there hasn’t been a significant growth in Ethereum, unlike Bitcoin. So, which one of these currencies is the best?

Bitcoin VS Ethereum: The Community

Ethereum has been one of the most interesting projects in the cryptocurrency world, with their game-changing idea for decentralised organizations. As of now, Ethereum is the largest supporter of decentralized organizations and works to make sure that this is accessible to all. Whilst Ethereum does have a more developed idea, Bitcoin has the benefit of being the first cryptocurrency. Over time, Bitcoin has gathered more of an international community where people invest in Bitcoin as a means to hold capital and value. That’s why Bitcoin’s price has been rising in the past few years. Some mainstream media have been comparing Bitcoin to gold, only to prove that Bitcoin has no underlying asset. Nevertheless, it’s been a strong digital asset to hold capital and will continue to be so in the long run.

Bitcoin VS Ethereum: The Numbers

The numbers seem to show that Bitcoin is the ultimate cryptocurrency. The market capitalization of Bitcoin is $67 Billion as of August 2017. This market cap – compared to Ethereum’s $30 Billion – seems huge and it’s the largest in the crypto market. So, don’t expect Ethereum to take over Bitcoin any time soon. However, it is noteworthy that Ethereum was able to get a market cap of $30 Billion even though the project was launched in 2015. The currency had a 2000% increase in value this year. These numbers are astronomical compared to any other digital assets on the market. That’s why there’s so much interest in Ethereum after Bitcoin. Thus, we could see a bit of a competition in the next five years but Bitcoin dominates this for now by a huge margin.

Bitcoin VS Ethereum: Scalability

Scalability is a huge issue in the cryptocurrency world because a currency needs to be scalable for it to be applied to the whole world. Taking into consideration that this is the final goal of cryptocurrencies; to revolutionize how people pay and transfer funds, we could expect scalability to be an important factor in the long-term success of the coin. Bitcoin recently addressed this scalability issue, since the activation of Segwit2x. This is better than Ethereum, thus making Bitcoin the more scalable cryptocurrency in the market. However, one needs to address the fact that Bitcoin has an eventual supply of over 21 Million Bitcoins, compared to a supply of 81 million Ether. That means that even though Bitcoin is much more scalable, Ethereum has a much higher number thus it could be more accessible to people eventually.

Bitcoin VS Ethereum: Which one is the best?

With all of these different factors taken into consideration, Bitcoin is one of the safest investments in the cryptoworld whilst Ethereum is expected to grow a lot by the crypto community. We could see Ethereum being the king in the future, and it’s catching up fast, but for now, Bitcoin remains the king of Cryptocurrency. You can purchase Bitcoin on large exchanges such as CEX.IO, trusted platforms which are honest. CEX.IO is by far the best in terms of safety. The website is quite intuitive and has an easy to use interface. It offers high deposit limits for free accounts, which is great for beginner traders or Bitcoin novices. The FOK orders tool that CEX.IO uses ensures that you can sell your bitcoins at any time, and buy them at a price that you want.

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About Article Author

Martina Kelowsky
Martina Kelowsky

Currently working on her Master Degree in Economics & Computer Science she lives in Russia. She is a Bitcoin Enthusiast since 2013 and Investor in various ICO since 2014. She aims to democratize a future where money is decentralized and transaction anonymous.

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