Ethereum Vs Solana

By TokenOnFire | holdthatcrypto | 31 Mar 2022


Ethereum is at the moment the second largest Cryptocurrency on the market. I have been buying Ethereum since April 2021 and only got into SOLANA in November. Whilst being cheaper than ETH, SOLANA has also a lot of advantages compared to ETH but still people are still using the ETH.

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pixabay.com

The below is only my point of view and not financial advices.

Why I do not like ETH anymore?

  • High gas fees - I once tried to transfer $20 worth ETH from Binance to Kraken and ironically, the gas fees were $40. Come on, is that not an excessive gas fee? I still do not understand why people still use it? May be there are so many DAPPS and Platform/Metaverse or could be ETH has a larger community since it was there for a long time.
    • The same transactions would be faster and really a lot cheaper with SOLANA. I understand that SOL is quite unstable and often has network breakdown. But I strongly believe that this will not be an issue in the long run.
  • SOLANA can make much more transactions than ETH per seconds and ETH network is slower.
  • If you want to hold long term, SOL is currently around $120 and ETH around $3400. If you invest in SOL now, you can get more SOL than ETH. then staking the SOLANA on Binance or other platforms yields more interest rate than ETH. In the long term - like 2 to 3 years, I personally see  SOL price going up further since a lot of people will see it's advantages compared to ETH. Whilst it might not get more expensive than ETH, the point here is that you bought more SOL than ETH and that larger amount of SOL multiplies by the latest high price will give you more in terms of profit. It's simple Mathematics :)

This is not financial advice and all investments have risks. I personally wished someone told me about SOL way before when the price was low. It is however not to late to DYOR and get some in your wallet for long term.

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