Cryptocurrency: 5 Reasons You Should Consider Ethereum

Welcome. If you’re reading this article, then I’m sure you’re on your way down the cryptocurrency rabbit hole. I’ve been there, and it’s exciting. In 2009, Bitcoin and Cryptocurrencies were the silk road of the Internet. Only the Mr. Robots of the world knew about them.

Today, you can use Bitcoin anywhere from to Microsoft. I sill don’t know the full extent of what this can become. No one does, that’s the beauty of it. The only things anyone knows for sure is death, taxes and Seinfeld reruns. However, I do believe that cryptocurrencies are now here to stay.

We all have the same questions:

Is it safe?

Is it too late to get in?

Will it end up crashing? 

These questions have been handcuffing investors since 2009 when Bitcoin came into existence. Initially, it seemed like a hacker’s paradise. We didn’t know about it, and certainly did not think positively about the safety of a decentralized global currency that’s purely digital. We thought it would be hacked, soured, and finished. Oh how foolish we were. Cryptocurrency is popping up faster than Starbucks during gentrification. It seems every single day there is a new cryptocurrency to dabble in. People have their favorites, but one in particular seems to be the most promising.

Which brings me to Ethereum.

What is Ethereum?

Well, I’m glad you asked! It’s a platform for creation of decentralized applications running on blockchain. Sound familiar? Well the main difference between Ethereum and Bitcoin is that unlike bitcoin, Ethereum uses smart contracts, which is why big time companies like Microsoft, JP Morgan and Intel are getting involved. Which brings me to my first of the top five reasons why you should be buying Ethereum now. 

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1. Microsoft, JP Morgan, and Intel Are Getting Involved

If you cant beat them, join them. And that’s certainly the mentality big time companies like Microsoft, JP Morgan and Intel are adopting. They want in, and they want to be ahead of the competition. If it can save them money on their transactions, then this is truly the future of digital finances.

2. Ethereum Is Cheap

Remember a few years ago when Bitcoin was $200? Now it is hovering around $2500. Well, Ethereum went from $13.00 to $200.00 in one year. And with a market cap over 18 billion, that 2000% jump shows Ethereum is taking a similar trajectory.  Sure there will be some setbacks, but with increasing interest and legitimate support, now’s the time to get in.

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3. Ethereum Is Young

Remember, in 2010 Bitcoin was eight cents. Now, seven years later, one Bitcoin is $2500. Do you want to miss out on Ethereum hitting those levels? It has only been around since 2014 and although it has been stagnant this month, there is nowhere to go but up. Ethereum cost $1.00 in 2015. Now, It is hovering around $200. What’s more exciting than 2000% gains in one year? If you aren’t bullish on Ethereum yet, you should be. Remember, this is an investment. A fun investment. Don’t plan on sending your kids to college with Ethereum. Make sure the money you are putting into it is money you can afford to lose. Because even though we believe the value will go up, nothing is guaranteed in the new wold of cryptocurrency.

4. The Bubble Is Far Away From Popping

Okay, when you see these kind of wild swings I get nervous, Why? Well according to Sir Isaac Newton, what goes up must come down. Whenever you see these erratic gains, the word bubble automatically pops into your head. People are comparing it to the Internet bubble of 2000. Sure they both have had similar gains (the gains cryptocurrencies have had are actually larger than those of the tech companies) but we are still a long way from this bubble bursting, if it does at all.

5. It’s Easier Than Ever to Buy Ethereum

Coinbase, an online platform for buying, selling, transferring, and storing digital currency, has an app where you can buy Ethereum through your smartphone. It links up to your bank account, debit card, or credit card. The app is easy, aesthetically pleasing, and extremely straightforward. You can even set up automatic purchases for every week, every two weeks or every month. Personally, I have it on my phone and check it daily. 

Final Thoughts

While it goes without saying: This is one man’s opinion. I always encourage investors to do their own due diligence. Heck, in 10 years we might all look back at cryptocurrencies like DVD’s, and render them completely obsolete.  One thing’s for sure though, this investor does not want to miss out on the potential profits of Ethereum.

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