In the past few years, many people have become interested in the crypto field. Most people were attracted by the idea of how easy is to make money with coins such as Bitcoin or Ethereum. The exponential rises and the easy trades.
Everyone wants to earn while in the comfort of their own homes, not having to spend most of their days in an office, but it is not that simple.
Although everyone has heard of Bitcoin, the alternative coins are attracting more and more people with the opportunities that they offer. Mostly the chances of rising quickly and bringing financial benefits, but there are also fanatics of the technological perspective.
Since there are many different options that you can consider, as a current or future investor, you have to be informed about the coin that started it all. For that purpose, we have made this article to show you some of the reasons why Ethereum is the most popular altcoin, and why you should consider buying it.
1. Most of the coins are made using its platform
Since it is the first and the largest alternative coin, it serves as an example to most of the new coins. It offers its platform to be used with a contract-making process that helps the developing act of the newer projects. In that way, many companies have been able to work on their ideas and plans since the blockchain has been available for them.
This is an indicator of how stable Ethereum is since many firms are using its platform to build their brands using it. Most of the coins that you see on the top of the ladders are being built in that way. In addition, there are many more firms that have made the contracts and use the basis of Ethereum. They are aiding many fields, including finances, arts, and even gaming.
2. The rise of Eth is directly proportional with the alternative coins
Since we have seen how most of the popular coins are made using the blockchain of Ethereum, it is easy to understand how the prices are being correlated.
If a certain coin rises, that means that the Eth will rise as well. So, if you are a person who possesses a certain amount of Ethereum, you benefit from the whole situation. On the other hand, when the Eth rises, almost always see a potential increase in the price of every coin that is being made using that platform. Since it is that influential, you can easily understand why it is the most popular option.
However, even though it sounds simple, it definitely isn’t. Trading Ethereum to make money won’t be simple. It’s important to gear up with more information before you start day or weekly trading.
3. Large real-world potential
There is a large real-world potential that is related to the use of the platform that this coin offers. As we have mentioned before, many firms offer a solution to issues that we are having in our lives that use the blockchain basis. It is easy to see how important the involvement of Ethereum in the world is in the moment, and especially the future potential.
These firms offer services in any field. Some firms have been centered in the healthcare field and have made great deals in technology. Since they are successful at the moment, they serve as an example to motivate other companies in the future.
4. It is an important financial asset
Since the financial field has been divided into two categories, the decentralized one is being mostly run by firms that use the Ethereum platform. This has great benefits both for the people using this method and for the firms as well.
With it, you can be sure that there will be no manipulations since everyone is being bound by the contract. Some parameters can be predicted, and what is most important is that everyone can see whether the firm is legit, because everything is being public.
There are more than billions of locked coins in the decentralized market category, so it is easy to notice how serious this financial thing is. This will grow even more in the future, so it is easy to see how important this coin is, and why is it more popular than the other options.
5. Future changes for using less electricity
Besides purchasing this coin directly, there is another way of acquiring it and that is by using your computers to mine them. However, that is using a lot of electricity and the world’s resources so many people are looking for a solution.
There has been an option offered for all the people owning these coins. They can put their coins at stake, in return for more coins, basically how banks work. Using this option, you can get a source of income without the need to work for it. This is expected to decrease electricity usage by more than ninety percent, which makes this a green movement. Many people who care about the environment are being attracted to the Eth even more, so the popularity just grows.
6. The non-fungible tokens are a part of this platform
One thing that is being quite popular in the last few months is the non-fungible tokens. They serve as a form of art that can be bought on the internet for different prices depending on the company producing them. There can be ones found for over a hundred thousand dollars and affordable ones. The whole point is that you are possessing something unique. Its value rises over time, so you can decide whether you want to keep it for yourself or sell it for a large financial gain.
The most important thing is that these forms of art can be only bought using Ethereum. This makes the coin’s popularity and value rise as much of these images are being purchased.
7. Ethereum 2.0 is expected to release soon
Lastly, there is a highly anticipated upgrade of the platform that should change a lot of things. There will be a large increase in the functionality and processing power. Although this might affect the decentralized financial field, it leaves space for bitcoin, while Ethereum is focused on things that the creator thinks are more important.
All we need to do is wait for the release, and see how Eth will dominate all the other alternatives, securing its place on the ladder. If you are not an owner, consider purchasing some, and if you already have some in your possession, make sure that you save a couple of them so you can use all the possible benefits in the future.