3 Reasons Why You Should Invest in Ether Right Now!
As the crypto market starts to recover from its most recent dip, people are seeking ways to take advantage of this opportunity before it’s gone. One investment which is widely accepted to be a smart choice, is Ethereum. The reason for this is much more complex than the fact that Ether (Ethereum) is one of the most valuable cryptocurrencies to date. Ethereum is actually an entire ecosystem housed on the Ethereum Blockchain. Ethereum actually represents a variety of new technologies, all under the same roof.
Understanding the technology behind crypto is critical to making smarter investment decisions. Become a blockchain ninja today!
One of the most common applications of Blockchain technology aside from cryptocurrency, is NFTs. If you are reading this article the odds are that you know what an NFT is already. But in case you don’t, here is a quick summary. NFTs (Non Fungible Tokens) are essentially ‘one-of-one’ assets that are backed by a unique ledger on their respective Blockchain. In other words, when you buy an NFT, you own a unique copy of that asset that nobody else in the world has.
You are probably wondering how this applies to Ethereum, the answer is simple. The Ethereum blockchain is one of the most popular to date. Meaning that many NFTs are added to it every single day. Investing in Ethereum means that you’re investing in the future of NFTs as well. Potential applications of NFTs are still being discovered, perhaps in the future Fortnite skins will become NFTs.
Not only can NFTs be added to the Ethereum Blockchain, but developers can also add their own apps as well. These apps have a variety of purposes, but they all operate on one premise known as “decentralization”. Decentralized apps are paving the way for the future of Web3. Ethereum even created their own programming language for these apps called “Solidity”. For example MetaMask, a crypto wallet where users store their cryptocurrency. MetaMask is just one of the many applications that rely on the Ethereum Blockchain.
Even my Grandma has heard of Bitcoin by now, however much fewer people have heard of Ethereum. Many investors view this as a potential opportunity to profit from the cryptocurrency Ether, which is a cryptocurrency created by Ethereum. Currently Ether is valued about $52,000 less than Bitcoin. However holders of Ether expect the rising popularity of cryptocurrency to boost the value of Ether.
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