Why Ethereum could be the “Bitcoin of the future”?

Step by step, the world begins to trust cryptocurrencies more. If at first they were only restricted to a small number of investors who were "encouraged" to venture into them, today almost everyone knows that it is an increasingly important option to obtain large profits.

Confidence seems to be the keyword to explain the rise of all these options, something that is taking place with historical changes. For example, recently PayPal, one of the most important online payment platforms on the planet, enabled the option of paying with different cryptocurrencies, such as Bitcoin, Bitcoin Cash, or Ethereum.

Precisely, the latter is, perhaps, the one that has a more than interesting future. There are several reasons to fix your eyes on it due to the great performance it has been having recently, but the main thing is its huge price increase. Let's see, then, why investing in Ethereum could be the key to making big profits in the future.

The future of Ethereum

If today we consider that Bitcoin is "a success", which allowed many people to obtain large profits for buying when a unit was worth a few dollars, we must think the same of the other alternatives. The truth is that, contrary to popular belief, there are thousands of cryptocurrencies.

As with real currencies, the important thing is to understand which are "reliable" and which are not. For example, Bitcoin has established itself as the world's leading cryptocurrency, to the point where everyone thinks it is the only one. However, the second most popular and traded is Ethereum.

In addition to the rise in the value of Ethereum, one of the most important news is that, according to Portafolio, Visa supported cryptocurrencies and allows both Bitcoin and Ethereum to be promoted. This is so because, for the first time, cards denominated in cryptocurrencies will be able to be issued and transactions carried out without change to traditional currency.

So, while Bitcoin has already established itself as the main cryptocurrency due to its great reputation (it was the first to hit the market), Ethereum could be the one with the best projection. This, due to its own functionalities, which generate special characteristics that differentiate it from Bitcoin.

You may also be interested: What changes in the world with a Bitcoin, more and more consolidated?

Bitcoin could be considered a reserve asset that allows it to hedge against inflation, which is equivalent to a kind of “digital gold”. However, Ethereum allows you to create value and is used to build many applications. Therefore, it could be considered as a “fuel” that is useful to launch a multitude of projects.

That is where some of the transformations that we are experiencing in the digital age, such as NFTs, begin to make sense. For example, in The Verge, they comment that these are unique digital items that are causing a sensation among Internet users, to the point where they can be valued in thousands of dollars and are revolutionizing the world of online art.

It should be noted that most NFTs are part of the Ethereum blockchain. Although Ethereum works as a cryptocurrency, the substantial difference from Bitcoin is that its own blockchain allows them to be compatible with these NFTs, since additional information can be stored.

Therefore, some predictions indicate that the value of Ethereum would rise rapidly above 2000 dollars, which would be a starting point to continue in an uptrend, to the point where, if we are optimistic, something could end up happening with it. Bitcoin, which broke the $ 50,000 barrier.

Taking into account the revolution that is being generated with cryptocurrencies, due to million-dollar investments (such as those of Elon Musk) or the endorsements of financial entities (such as Visa), it is understood why Bitcoin will increase its price. However, the success of the NFT, characteristic of Ethereum, will be an added value to consider the enormous future of the currency, which could be the new Bitcoin to trust right now.