Ethereum stands not only for one of the cryptocurrencies but also for a large global machine able to run different decentralized apps on its network and complete credible transactions. At the same time, the digital currency we are used to talking about as an Ethereum coin, is the main cryptocurrency powering this network, or its native cryptocurrency.
With the rapid rise of ETH, now we realize that it was an extremely valuable store of value, and anyone who would have invested in it years ago would earn a fortune. But is it still a good idea to buy Ethereum online, and should you bother to track its price and benefit from buying and selling it? Let us see if it’s too late to purchase the top altcoin and why.
Reasons Ethereum Will Remain Popular in 2022 (and, Hopefully, After)
To understand if Ethereum is still relevant, you need to look at it from many perspectives, not only as someone who can potentially buy it and sell it at a higher price. Ethereum is a technological solution for many issues of today. It offers reliable digital proof of ownership, smart contracts, and much more. That is why Ethereum is the future and will be with us for a long. But let’s see one point at a time.
So, reason #1 is that Ethereum offers tokenization. It was estimated that nearly 10% of the world’s Gross Domestic Product would be transacted and kept in blockchain networks in the next 3-5 years. This means the Ethereum blockchain will be widely used, which is why you have your share in it!
Next, Ethereum survived the popping of the ‘crypto bubble’ back in 2017. It has only garnered relevance with more projects being created on its blockchain, starting from smart electric vehicle charging stations and finishing with records for organizations and institutions.
Reason #3 is that ETH 2.0 is on the way. This means that the creators of Ethereum 1.0 worked on the flaws that have reduced productivity (such as too power-consuming mining, slow networking, etc.).
Still, all of the pluses that Ethereum has don’t make purchasing riskless. There are some great alternatives that consume less power and are generally faster. In addition, there might be some security threats as, despite allowing safer transactions, it is vulnerable to hacks anyway.
What Should You Keep in Mind Before Buying Ethereum?
Before rushing to buy the popular altcoin in the wave of enthusiasm, plan what instruments you will use and your main goal. Here is the list of things to check.
- Decide to invest only the amount you will be okay losing: the amount that won’t break your heart.
- Use only proven exchange sites to buy Ethereum with debit card. If you’re at a loss, consider some popular and well-established exchanges.
- It is preferable not to leave the ETH you purchased in the exchange account. Once purchasing ETH with a card, you should have a wallet to rely on.
- Store your crypto in proven software wallets to buy and use hardware wallets with offline fund storage.
- Make sure you use 2-factor authentication when you need to buy ETH with credit card.
- Use more sophisticated strategies: buy not just when there’s an all-time high but also when the Ethereum market is recovering from the all-time low, etc. Think of a strategy that suits you best.
- Diversify your profile. Now it is nice that you can buy ETH with debit card just to let you pool money in more than 1 cryptocurrency. It will help you minimize risks.
We hope that listing some of the coolest benefits of Ethereum has opened your eyes to it as a good investment for years to come. Just be mindful about what you’re buying it for.
Don’t forget to be careful to buy at reliable exchanges like Switchere – the place to buy Ethereum with credit card and convert fiat (like USD and EUR) to crypto. It’s also best to exchange anonymously. Switchere also works as an app to let you convert instantly when you want and as much as you want.