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Why should everyone consider having Bitcoin and Ethereum?

bitcoin and ethereum

If you are into cryptocurrencies and do not hold Bitcoin and Ethereum, you might be missing the point.

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Bitcoin is what started out this whole blockchain and cryptocurrency revolution. 

There are many revolutionary solutions that are getting built right now on top of Bitcoin Blockchain which continues to be one of the most secured networks out there.

Not only that, whoever adopts this network automatically gets to enjoy the strength of the entire network of bitcoin blockchain.

The more programs that join and add nodes to the network the stronger it becomes.

Of the many solutions available in the market, nothing comes close to Bitcoin’s network resiliency or ‘ease of access’.

Sure, there are technical nuances and one must learn how to program on the network but that is minor detail compared to the enormous upside one gets to enjoy by being part of the network.

Ethereum on the other hand may not be as popular as Bitcoin but it is the second best. When it comes to smart contracts it continues to enjoy the lion share in the market.

This whole DeFi craze is only going to make Ethereum much more popular (and lucrative) just how ICOs did in 2017. 

The only difference now is that DeFi is not a fling that will die down anytime soon. In fact, DeFi will be the torchbearer for the cryptocurrencies to the masses.

Both Bitcoin and Ethereum. 

First movers

What is the value of the first mover advantage in the crypto space?

Bitcoin has a market cap of over $200 Billion at the time of this writing and its offshoot Bitcoin Cash has $4 Billion.  A difference of $196 Billion.

Take Ethereum with a market cap of $40 Billion and its closest rival Polkadot and Cardano both are hovering around $4 Billion.  

We are not saying these will never be dethroned.  In fact, we think Ethereum might be dethroned by better projects out there.

However, if the rate of adoption and brand penetration is any indication then both Bitcoin and Ethereum might just keep leaving the rest of the market behind from a market cap perspective.

Widely adopted

While there are better and faster projects out there, when it comes to store of value and smart contracts there is simply no contest for Bitcoin and Ethereum, respectively.

MicroStrategy invested over $400 Billion in Bitcoin as Reserves. 1000s of projects continue to build on top of Ethereum, even with its lethargic transactions per second and exorbitant fee spikes.

When it comes to the microcosm of crypto world, the nerds may be aware of the projects that are superior to Bitcoin and Ethereum, but when it comes to pure subject of adoption, there is really no close second to these projects.

Brand awareness

Ask anyone who doesn’t understand anything about cryptocurrencies and chances are they have heard about Bitcoin and probably Ethereum.

They don’t care that there are over 6500 crypto projects in the market.

When Fidelity finally offers Bitcoin as part of the 401(k), people will not hesitate to get involved because they have heard that name 10000s times.

When more and more people start getting involved, the demand and brand establishment only becomes even more stronger.

Other projects simply do not have the brand weight that these two projects, more specifically bitcoin, carry.

Experts agree

Crypto GuruOne financial expert after another agrees that Bitcoin is here to stay and has the most upside potential of all investments available in the market.

Some call for a 60X potential from where we are now. Some have even bet a $1 Million bitcoin price in the coming decade.  

No one knows whether Bitcoin will eventually reach $1 Million or it will coast under $100,000 or even crash to the ground.  One thing is for sure – when you own bitcoin, even if only a fraction, you are holding a piece of history in the making and for that reason alone we think everyone should hold some bitcoin.

If DeFi were to do what everyone thinks it is poised to, Ethereum will stand to gain a lot of ground.  

Conclusion

In our humble opinion, everyone who is into blockchain and crypto technology should consider holding bitcoin and Ethereum. 

Yes, we anticipate price action and life-changing gains but more importantly these two give us an opportunity to be part of something bigger than the internet in the making.

Note: As enthusiastic as we may sound in this article, we do not know where this market is headed.  Those who offer guarantees are full of themselves. We believe bitcoin and ethereum will be forces to reckon with in bringing blockchain and cryptocurrency to the masses. However, it is good advice (that we heed to as well) – do your own research and do not invest more than what you can afford to lose.

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

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IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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