When faith in the traditional economy was shaken in 2020, many investment funds and large corporations began to look for opportunities to invest in Ethereum, Bitcoin, Cardano, and the like to hedge against uncertainty in the future.
This shift has not gone unnoticed by individual investors. A renewed appetite for digital currency has led to a surge in all primary tokens as more and more people choose to invest in crypto in 2021.
Although Bitcoin has been a popular choice for several years, many traders have also chosen to diversify their funds through investing in leading altcoins. The two of the most famous ones are Ethereum and Cardano. But is it worth investing in Ethereum or buying Cardano in 2021? We put together a comparison to see how each token compares to the other and how they get into the broader cryptocurrency market.
Ethereum
By January 2018, ETH had skyrocketed to a record height of nearly $ 1,400. But over the next few months, the situation with ETH was less stable, and at some point, prices fell to $ 85.
However, ETH improved in 2020, and at the time of writing, it looks like it has dealt well with the COVID storm, hitting a new high of $ 3142.81.
Cardano
In January 2018, it hit a record high of $ 1.18. However, the surge was short-lived, and Cardano quickly dropped to less than $ 0.10 per token. At the end of the year at $ 0.03.
Cardano remained low-key and did not peak above $ 0.10 until the summer of 2020 – shortly after the COVID pandemic broke out. It seemed that by the end of the year, ADA had decided to take a bend, as there was a growing desire to invest in Cardano. Prices soared more than 500% to reach $ 0.92 by the end of January 2021.
Ethereum vs. Cordano
Foreshadowing the first wave of second-generation cryptocurrencies, the Ethereum blockchain has gone beyond a simple payment system and introduced much more functionality than the original cryptocurrencies and their corresponding blockchains.
Launched in July 2015, Ethereum is governed by its crypto token Ether and allows the exchange of smart contracts designed to optimize asset transfers and trust agreements. The Ethereum platform also will enable you to develop and run applications without any outside influence, and its programming language opens up a world of additional possibilities.
The recipe seems to be a success, and Ethereum is the cryptocurrency with the second-largest market capitalization. Thus, the decision to buy Ethereum in 2021 is not as risky as it could be with an altcoin that is less established.
Cardano was developed in 2015 with a goal similar to that of Ethereum – to offer a platform for secure and fast financial transactions.
The similarities between Cardano and Ethereum are also no coincidence. Former Ethereum co-founder Charles Hoskinson developed Cardano. However, on the surface, Cardano has several notable improvements to the Ethereum blockchain.
Another thing that makes Cardano unique is that it is the world’s first peer-reviewed cryptocurrency that several renowned academic institutions have rigorously reviewed. It also has a unique two-tier architecture, one for handling general transactions and smart contracts.
Key Similarities
Both Ethereum and Cordano are widely integrated into the available crypto wallets. The most popular crypto wallets, run by Exodus and Jaxx, have added the support of both currencies, simplifying the process of storing and managing them. You can use online and offline web applications to safely and easily access both Ethereum and Cordano.
Both platforms ensure the security of their customers, as well as work to improve customer support through chatbots and other strategies.
Conclusion
It is difficult to determine a clear winner considering Cardano vs. Ethereum as an investment potential. Although Ethereum is much more established and has a much higher price tag, history shows us that it is not immune to sudden price drops.
Both coins have experienced a sudden and steady drop in prices, and the cryptocurrency market is notoriously volatile. So although it is currently gaining momentum, there is no guarantee it will last long.
The post Invest in Cardano or Ethereum? The Difference between Them appeared first on SiteProNews.
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