5 Interesting Facts About Ethereum

by Andrew McGuinness     Dec 09, 2020

It’s 2017 and even though relatively few people are aware of the ins and outs of cryptocurrency, if you have been going out into the world, or have been accessing the internet, you are bound to have heard of Bitcoin at least once. It’s that digital form of currency that everyone has been investing in, profiting from, and bragging about. But did you know that there are even more forms of cryptocurrency? And, consequently, even more ways to profit from an investment in digital currency?

Even though ethereum is technically not considered a cryptocurrency (one of our interesting facts), it is constantly assumed to be. For this reason, I’d like to share with you 7 interesting facts about something you probably haven’t heard about but should consider investing in: Ethereum.

1.Rather than a currency, Ethereum is a platform

People often mistake Ethereum for a digital currency, but it is actually a platform that is driven by the coin Ether. So just to make things clear: Ether is, in fact, a form of cryptocurrency, while Ethereum is simply a cryptocurrency platform.

2. Ether is growing at a rapid and steady pace

As of this year, Ether has gained its investors the most rapidly growing profit of all cryptocurrencies. While Bitcoin has had a pattern of falling, increasing, and remaining steady, Ether has been consistently growing to the point that it grew to be nearly 5 times more valuable in a matter of months last year.

Bitcoin remains the most valuable cryptocurrency, but the gap between Ether and Bitcoin is steadily closing. Odds are that this pattern will remain (for the most part) positive. It is not likely that Ether will disappoint future investors.

3. Ethereum is gaining from Bitcoin’s losses

During time periods of Bitcoin’s value falling unpredictably and losing its sense of stability, frustrated investors have become more and more interested in Ether for its comparably more stable position in the market as well as its consistency.

The number of Bitcoins being traded for Ether is astounding to say the least, especially when considering just how popular Bitcoin is and the name it has made for itself. The mere fact that Bitcoins are being exchanged for Ether is enough for it to gain value in the minds of investors worldwide.

4. Banks favor Ethereum

11 Banks, among them Barclays, UBS, and HSBC, have shown their support by teaming up with a startup called R3 in order to troubleshoot a system working with Blockchain for the purpose of trade. This troubleshooting test employed Microsoft and ran on a platform created by none other than Ethereum.

5. Ethereum is valuable, but its future is not guaranteed

Much like any other form of cryptocurrency, the pattern of stability, consistency, and rises found within Ethereum’s history does not mean that an investment is ensured to give you any sort of large profit at some point in time. Ethereum was, in no way, an overnight success. Far from it, actually.

Ethereum took plenty of time to develop the value that it enjoys today and it was not until 2015 that it began standing out from the crowd of unsuccessful Bitcoin wannabes. There were times when profits gained were very modest, unremarkable amounts. Even though that seems like history now that it has been on the rise for a reasonable amount of time, it is something that should nonetheless be considered before investing.

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