Ethereum is one of a few altcoins that maintain steady growth month after month. It is one of the largest cryptocurrencies today. Developed in 2015, Ethereum became the first digital currency to source funding through an Initial Coin Offering. Since then, the value of ether coins has increased rapidly.
A review of Ether coins over the years
- Ethereum is a decentralized digital currency payment platform.
- Ether was designed to offer faster and more effective services.
- Completing transactions through Ethereum take much less time than bitcoin. This gives it more popularity compared to other altcoins.
- Additionally, Ethereum offers more features than bitcoin. The Ethereum blockchain, for example, allows app developers to build apps, which run on the Ethereum network.
One reason why Ethereum attracts so much attention from investors is that of its steady growth. Here are five reasons that drive the altcoin’s growth:
1. Better technology
Ethereum was developed as an improvement of bitcoin. Many cryptocurrency experts believe the altcoin succeeded. For one, Ethereum improved bitcoin’s speed in completing digital currency payments. Ethereum competes closely with fellow altcoin, litecoin, at offering speedy transactions. Additionally, Ethereum ’s platform allows app developers to build apps that rely on the Ethereum software.
2. Support numerous smart capabilities
A smart contract is a self-executing agreement between two cryptocurrency traders. The contracts are coded in the Ethereum blockchain and make it more efficient to trade via Ethereum compared to bitcoin. Most upcoming cryptocurrencies rely on Ethereum for source funding because it’s faster and more efficient.
3. Backed up by institutions
Over a dozen fortune companies that accept Ethereum coins. The Enterprise Ethereum Alliance is a blockchain alliance that brings together fortune 500 companies to tap into Ethereum ’s software. Learn more about top companies that have partnerships with Ethereum here.
4. Growing value
Predictions point toward Ethereum overthrowing bitcoin at the top place in cryptocurrency trading in the next five years. Having launched in 2015 and risen to top 3 most traded cryptocurrencies in 2 years is not a minor achievement. The rate at which this altcoin keeps growing in value is impressive. To understand the growth curve for Ethereum, see the following statistics.
- Ether has the second highest market capitalization after bitcoin.
- The value of Ethereum has risen at a steady rate since November 2017.
- Ethereum is currently valued at nearly $1300.
- Expected to hit $14,800 in value by end of 2019.
Is now the best time to buy Ethereum coins?
Investor confidence in Ethereum will likely influence the coin’s value in coming months. With the current predictions about the coin, investing in Ethereum may yield lots of profits by end of 2018 and 2019. However, the volatility and unpredictability of cryptocurrencies still pose a challenge. While the value of Ethereum could reach $50,000 in five years, it could also depreciate to $0.00.
How to buy Ethereum coins
The process of buying ether is short and convenient when you use top exchange platforms. Follow this step-by-step process to purchase your first set of ether coins read about it here.
1. Create an account at an Exchange
Create an account on a trusted exchange platform such as CoinBase. You will be asked to submit a few personal details to verify your identity and enable you to fund your account. Creating an account takes a few minutes.
2. Complete identity check
Before you are allowed to make a deposit, the exchange platform will ask for your passport and physical address. This step is mandatory for preventing money-laundering activities.
3. Make a deposit
Choose a banking method and fund your account. This can bank wire transfer to PayPal, SEPA or a credit card transaction. A typical transaction takes a few hours to 24 hours before your account is funded. Keep in mind that banks and other payment methods charge to facilitate these transactions.
4. Buy Ethereum
Buying ether from coinbase and another leading exchange platform is quick and easy. Coinbase allows you to directly buy Ether on your funded account without first buying bitcoins. In most other exchanges, however, you must buy bitcoins first before using them to purchase Ethereum.
Conclusion
Investing in altcoins will continue to grow in 2018. The Ethereum network, in particular, will gain more adoption. This makes it a realistically invest worthy opportunity for many. Get up to date news and changes happening around the Ethereum network first on our website.
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