Cryptocurrency has become a popular topic of discussion in the past couple of years. As the number of investors rise, so does the interest in cryptocurrency. The number of people who’ve invested in bitcoin globally is in the millions, with that number rising daily, and expected to grow exponentially in the near future, as younger generations are far more likely to invest in cryptocurrency, than make any other investment choice.
The most popular, and valuable cryptocurrency on the current market is Bitcoin, but it is not the only successful and valuable cryptocurrency available today. There are many other highly profitable cryptocurrencies on the crypto market, and among them, apart from Bitcoin, the most profitable and famous cryptocurrency is Ethereum.
The Start of Ethereum
Ethereum got its start as an idea in 2013, when Vitalik Buterin, its creator, got a team together and explained the concept behind the cryptocurrency. The official launch of Ethereum, however, came 2 years later in 2015, after an incredibly successful crowdfunding campaign, which helped to popularize initial coin offerings, and gave Ethereum a head start.
Today, Ethereum is the 2nd highest cryptocurrency by market capitalization and is very popular among crypto traders. It is supported on all crypto trading sites, except the ones that specialize in only one cryptocurrency. Websites like the ones listed here are a great addition to the UK crypto exchange market. They support a wide variety of different cryptocurrencies, including Ethereum. These sites also provide new users with investment tutorials, which means anyone can make an account and begin their crypto trading journey.
Ethereum got its name after its creator Vitalik Buterin was browsing a list of fictional chemical elements, and stumbled on Aethereum. He liked the name, as it contained the word “aether”, so he adapted it to, to name his cryptocurrency.
The Importance of Ethereum
Ethereum uses smart contracts to and dapps (decentralized apps) in order to run consistently without any down time or constant need for control, and maintenance. The goal when designing Ethereum was to make a cryptocurrency which would be easily, and readily available for anyone in the world regardless of nationality or race. This meant that anyone, even those without access to a state financial infrastructure could get access to a bank account, and get various financial products, that we all take for granted.
Ethereum was also the first successful cryptocurrency to popularize the practice of initial coin offerings (ICO). This basically means that prospective users would pay for their coins before the crypto was officially launched, and then would be reimbursed upon the coin’s official launch. Before Ethereum, this practice was not too trusted, as it is an easy way to scam prospective investors, however, with Ethereum’s transparent business model, many people backed the cryptocurrency, and were subsequently rewarded.
The Future of Ethereum
Ethereum is currently the 2nd highest cryptocurrency in terms of individual value, and market capitalization. A single ether token is worth $2000, and Ethereum has a market capitalization exceeding $200 Billion dollars. But some are curious about Ethereum’s future. In this last section we will discuss the future of Ethereum, what are the future financial consideration and whether it is a viable option to invest in.
Many analysts have very positive views on Ethereum’s future. They are predicting the price of Ethereum will rise by year’s end, hitting $3000 by the end of 2022. Some more forward-thinking experts, have analysed the market and come to the conclusion that, should all go well, the price of a single Ethereum token will reach $10.000 by the end of 2025.
It was only last year, that a certain occurrence pushed Ethereum to the forefront of many crypto investor’s minds. A statement issued by Elon Musk confirmed that he owns Ethereum coins. The billionaire’s words propelled the price of Ethereum and helped it to rise past $2000.
Since then, however, the crypto’s value has fallen, and now sits comfortably at just over $1592 at the time of writing. Nonetheless, it is expected that the coin’s value will rise again in the oncoming future. It is due to this that many analysts and crypto traders believe that Ethereum’s future is a bright one indeed.
Crypto Other Than Ethereum
But Ethereum is not the only blockchain around. If you aren’t sold on the idea of Ether, but still are curious to take a look at the crypto market, what other currencies should you check out?
Well, obviously Bitcoin is the top competitor. Consistently the most valuable and popular cryptocurrency, it is doubtful that any crypto trader will be disappointed if they invest in Bitcoin unless they bought it before the Christmas crash and the Crypto winter. Only time will tell if their investments will provide dividends in the future.
Other than the top though, look into the cryptos that have made a splash in the mainstream. This can include Ripple, Dogecoin, Tether (and other similar stablecoins), Binance Coin, Lite Coin and one of the many Bitcoin hardforks, such as Bitcoin Cash, Bitcoin Gold, etc.
Just take note, the markets can fluctuate and there are never any guarantees investing.