As we do mention the two most important currencies, then we always add the names of Bitcoin and Ethereum to the top of the list. As you move into the market to buy any one of these currencies, then there are so many beginners who are not able to spot the difference between the two. So right through this piece of article, we will make you explain away the difference between Bitcoin and Ethereum!
What are the Key differences between Ethereum vs Bitcoin?
There are so many key features that hence make the Bitcoin and Eethereum be different from one another. In terms of the concept, Bitcoin is the digital money and Ethereum is mentioned to be smart contracts. Bitcoin has the main purpose of storing the value and hence the way to send money to someone. Ethereum is also taken away to be one such way to send money to someone but only when in the course of certain things happen. Ethereum has been much fast with its speed of transactions in just a few seconds and Bitcoin takes few minutes. Bitcoin is limited to the range limitations of the 21,000,000 coins. This creates on with the supply and demand which is healthy for a store of value. Ethereum is not limited. It has the production that is continuous. Ethereum is around 6 years newer than Bitcoin and is further much more advanced.
What to know about Bitcoin?
It was launched for the first time in the year 2009. This has come about to be one of the first cryptocurrency and the first use of block-chain technology. It is defined as the digital currency. It is all aiming as to fix away from the global finance that is often known by the name of “bank of the people”. It does not need the requirement of the third party, such as PayPal or a bank. It can be all created as the medium of the alternative option as the regular/fiat currencies. It can be used away for the sake of the manual transactions adding to the purchasing goods/services or receiving money. It is also highly liquid that can on the whole easily convert Bitcoin into cash. It takes the duration of a few minutes to complete Bitcoin transactions.
In January 2018, the price then dropped down to $10,000 which was half the price in December 2017 ($20,000), and because of this, many investors sold their Bitcoin. So after reaching the highest point in December, in February 2018 the price dropped to around $6000. People, who invested in February when the prices were low, made 100% profit.
Bitcoin Today’s Price Chart
Pros and Cons of Bitcoin
An Introduction about Ethereum:
This currency was launched in the year 2015. This block-chain is also known by the name of “Block-chain 2.0”. It has the smart contracts that hence eliminate the need for third parties in so many systems and not just financial systems. It is also providing away the platform for the sake of the build smart-contract app. It also provides on with the programming language that is known as Solidity as to build the apps with. It also powers transactions on the Ethereum block-chain. Its transactions take seconds to complete over.
The price of Ethereum made it to $70 billion as a total market cap at the end of last year is higher than $720. It reached its highest price on 4th January with $1423 at the start of 2018 with a total market cap of $138 billion.
After Bitcoin, it was the second largest cryptocurrency growing up to 3000% in 2017!
Ethereum Today’s Price Chart