For the long term.
This is a pretty bold claim.
Bitcoin is the biggest name in cryptocurrencies right now. It has the market cap. It has the volume. And boy does it have the returns, appreciating over 40% since the start of the year 2020.
But Ethereum is a much better investment for the longer term. Keep reading to find out why I think so.
Those are some pretty great stats. And it helps that it's up over 6%, because that really solidifies this topic.
Ethereum is a great investment for certain reasons. It has a platform that runs dApps, which means that there will always be buyers of Ethereum that aren't traders. This gives it an edge over Bitcoin, which really only has traders on it. You can't play any games with Bitcoin or on the bitcoin blockchain (except you've been scammed by someone of course), so only traders and psychological levels are constant. The rest is just a big, blurry variable.
Thus argument simply concludes that Bitcoin is super predictable. If you want to start off trading with $1000, chances are you'd make more money trading Ethereum than Bitcoin. Bitcoin is more of an investment than something you trade. And even at that, Ethereum still bests it.
Ethereum was up over 50% at the time Bitcoin was up 38% at the start of the year. This means that if you had invested $1000, you would have had $1500 if you had invested in Ethereum, and you would have had $1380 if you had invested in Bitcoin. See?
Secondly, Ethereum has more upgrades being done on its blockchain. Ethereum 2.0 is on it's way, and I will make a post about that. But the ethereum network has more skilled developers constantly making positive changes to its blockchain. It's transaction time has been greatly increased since the start of the year, and this has led to some great appreciation in its price. Bitcoin however still takes about 30 minutes in certain instances to transfer. It happened to me just this week, when I was trying to transfer 0.019BTC from my Binance to my Bitfinex wallet. It took that transaction about 25 minutes to confirm, and that was a rather miniscule amount. Imagine if I was sending 1BTC that day.
Lastly, Ethereum is cheaper than Bitcoin. Much cheaper. This might not sound like a big deal, but you can currently get about 3.5ETH for $1000. $1000 gets you 0.12BTC at the current price. If both these coins appreciate the same amount today, you'd be getting the same amount in fiat, but more ETH than BTC. And if you're a long term investor, increasing your number of coins will be your priority. Not so much increasing your fiat.
Thanks for reading