Crypto trading and investment attract more and more new participants over time. It usually depends on the market trend. For example, when the market moves up dynamically, it stimulates people to join it, and when it drops sharply, people lose interest in this industry and leave it in a panic. However, things should happen in an ultimately different way. The fact is that when the market is skyrocketing and even your neighbor, who has never known about crypto, starts to talk about buying it, that means the overall drop is just around the corner. And vice versa, when the market is at its bottom and prices are low, that’s the best time to buy cryptocurrency and hold it until the trend changes.
The most popular crypto assets are, of course, BTC and ETH. Let’s briefly discuss them.
It still needs to be discovered who created it. Was it one person or a team? All that we know is that the human or the team was named Satoshi Nakamoto. BTC is the market leader with the biggest capitalization and trade volume. In some sense, BTC drives the whole market, setting the trend. Like in the spring of 2022, when BTC collapsed, all other assets followed the drop. As of November 14, 2022, the BTC price is $16,34. That is a meager price for this asset, so it is possible to buy it and hold it in the long term.
What is Ethereum?
Ethereum is the second-largest crypto asset in the market. You can buy ETH on any crypto exchange listed on all platforms for trading and investment. Unlike Bitcoin, the Ethereum network is used for developing and building smart contracts and decentralized applications. It has an expanded application and hundreds of use cases. For example, many blockchain game projects are deployed on the top of the Ethereum network. Recently, the blockchain transitioned to the Proof-of-Stake mechanism, so it is much easier to receive ETH now via staking, and it is much better to work on the network:
- Transactions are cheaper
- The networks throughput is much bigger
- Much speedy
- No need for mining and expenses for it
- Available for anyone.
Bitcoin or Ethereum Where Should I Invest
Bitcoin is the first decentralized peer-to-peer payment system which is designed for purpose of controlling money for ourselves. Because some people thought about why my money controlled by others such as banks, authorities, agencies. And another purpose of creating cryptocurrency was to prevent inflation. In Ethereum with the help of SM, you can create decentralized apps and this is the specialty or TRP factor of Ethereum. When you want to invest it is important to keep in mind whether you want to invest in short-term or long term. For long-term investment, bitcoin is a superior investment option. Finally, do your research properly to ensure that where you’ll invest is a trusted and reliable platform.
If you want to trade Bitcoin or Ethereum, welcome to the WhiteBIT crypto exchange. It also allows for staking, so learn more about this option from the WhiteBIT blog.