The cryptocurrency market is heating up, and there are plenty of currencies to choose from. However, Ethereum has recently gained much attention and interest from investors. Here are some things you should consider before you buy Ethereum:
1. Can it provide the services you’re looking for?
Will the currency provide the services that we need? Do they offer the kind of platform I am looking for? Who partners with them, who uses their services, etc. These factors matter, A LOT!
2. Does it offer an initial coin offering (ICO)?
This is the process of selling a new cryptocurrency. ICO (Initial coin offering) money goes to whoever creates the best post or page on social media, Reddit, or other websites. The best posts are then selected before the ICOs open to the public for trading.
For example, Bitcoin investments in 2013 were mostly used to fund Bitcoin startups, now, there are many of them, and most are useless. Investing in Ethereum requires checking if the currency will be used to fund services you use and/or need.
3. How much do they cost?
Ethereum price ranges between $2500-$3000 right now, so you have to decide when it’s an excellent time to buy some.
For example, Bitcoin is too expensive at the moment. If it drops below $2,500, it would be a good time to buy some because it’s cheap.
4. How are they distributed?
The distribution of Ethereum coins is public. However, not everyone knows how to use them, so they can be challenging to sell on exchange platforms like Coinbase. Nevertheless, we think that buying Ethereum would be a good idea because it will increase the price.
5. What currencies do they trade-in?
Ethereum is traded in Bitcoins, Litecoins, and other currencies (Bitcoin Cash right now). So you have to have an account with one of those exchanges before buying any currency.
Generally, Ethereum is a great investment because it will be used to fund startups and create startups that will change the world. However, if you are looking to invest in Ethereum, we recommend doing your research first by checking their services and the ICOs they offer.
Finally, you should also know that other companies like Ethereum Classic (which has a lower price than Ethereum).
Conclusion
We hope that you found this brief guide on Ethereum useful. If you have any questions, please feel free to ask us below in the comments section and share your experience.
