There's more to life than Bitcoin: Ethereum, the other cryptocurrency giant
Contracts bound by Ethereum aren't based on trust between buyers and sellers but the software it uses
One difference separates Ethereum and Bitcoin: Ethers are infinite, while Bitcoin has a maximum circulation
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Cryptocurrencies have become one of the most popular assets in trading in recent times, but digital currencies are much more than Bitcoin. Ethereum is another of these big virtual exchanges created in the last few years, and is currently known as the second most-valued and used in the world.
Bitcoin and Ethereum share technology in which they are based, the ‘blockchain’, which has the objective of figuring out and verifying the process of cryptocurrencies.
Ethereum is a de-centralised platform which executes intelligent trades: applications that execute exactly what they are programmed to do without possibility of inactivity times, censure or fraud from third parties. However, one key difference separates them: ethers are infinite, while there are a finite number of Bitcoins.
In addition, Ethereum is bound to the development of intelligent contracts. This format consists of a programme which ensures that the terms of the contract are closed based on the previous agreement. These contracts are not based on trust between those that sign them, but the software in charge of completing the contracts. Ethereum stops you from modifying or cancelling the contract and avoids third parties and delays in transactions. All this process can also be done through Bitcoins but it still lacks the software to carry it out. With Ethereum its technology does everything for you.
As with many other digital currencies, Ethereum has become a staple in many brokers’ portfolios. Thanks to the likes of, trading in Ethereum and other digital currencies is secure for all types of traders, which can open a long or short position according to the current price of Ethereum in a matter of seconds.
The value of the cryptocurrency was worth little more than $8 at the start of the year but now passed more than $300, growing more than 3,650%. Knowing which moment is best to invest in Ethereum is difficult, as in other assets, but thanks to eToro, the investor will have the help of a community of more than six million users to learn different investment strategies and even replicate some of the best. As if that wasn’t enough, eToro is offering new clients 100,000 virtual dollars so they can start to invest and test their strategies or other members of the community.
*Cryptocurrencies can fluctuate widely in prices and are therefore not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Past performance does not guarantee future results. Trading history presented is less than 5 years and may not suffice as basis for investment decision. Your capital is at risk.