The price of Ethereum has soared by 1200% recent times, outperforming numerous other cryptocurrencies. However, there are still some doubting Thomas asking themselves if they should invest in Ethereum. This article addresses that issue.
Not only will you be convinced that investing in Ethereum is the right thing to do this 2018, but you’ll also learn how to purchase the cryptocurrency. Hopefully, before you finish reading, you’ll become a believer. Shall we begin?
Should You Invest in Ethereum?
We are not going to waste time talking about the history of Ethereum. Many articles on the internet can give you details on what the digital currency is all about. What we are interested in is if it’s worth investing in.
Ethereum is a more versatile and powerful platform than Bitcoin. That piece of information shouldn’t surprise you; the crypto-coin was created with Smart Contracts and computation in mind. As computation and cybersecurity grow, it’s only logical that Ethereum grows too.
According to some analysts, Ether is expected to rival Bitcoin in both volume and usage in just a couple of years.
Another basis for doubts in unbelievers is the legitimacy and future of Ethereum. Enterprise Ethereum Alliance (EEA) was set up recently with the sole purpose of connecting large organizations to technology vendors. These companies include Microsoft, JPMorgan, and Intel. They are expected to work on a project using the blockchain.
The spike in the price of Ethereum in recent times is due to the significant companies that have expressed belief in it in the media. As you’ll come to understand, that faith is justified.
Why You Should Invest in Ethereum
Outlined below are some of the reasons you should invest in Ethereum in 2018.
1. Ethereum is the Future
You are wondering how many times someone has told you a cryptocoin is the future. Yesterday, Ripple was the future, the day before that; it was Litecoin. So, why should you believe this?
The truth is evident in the adoption of blockchain technology by global FinTech. They require the use of smart contracts and automation of financial processes. Guess what crypto coin was developed for this exact purpose? That’s right; it’s Ethereum.
That means, as the demand for these services increases so does the market for Ethereum. After that, the laws of demand and supply comes into play. That means as the need for Ethereum and its smart contract platform increases so does the price.
And why shouldn’t the demand increase? The crypto coin is a future platform for real-world commerce. It has by far the most project being developed on it and already has 3× more transaction than Bitcoin.
The significant price appreciation in Ethereum price in this past year, 2017, is nothing compared with what is coming. Analysts have predicted 10 – 100-fold increase in the value of Ethereum once it attains mainstream adoption.
Make no mistake, whether it’s for governments, small businesses, Internet of Things, individual artists or big corporations, the demand for ether will always be increasing.
2. Ethereum is Stable
Ethereum has experienced a steady organic growth that is almost predictable. The demand for Ethereum’s blockchain has not wavered despite cyber-attacks and hard forking. While some invest in Ethereum due to its future potential, others are just following the trend.
Whatever the reason, the fact remains that the demand is rising and an increase in price accompanies that.
3. Ethereum is Secure
While some skeptics may not consider this a great reason to invest, it is. There is no point in receiving money if you cannot secure it. That said, it is quite challenging to keep a private key secure.
You can create a multi-sig address, secure the keys in cold-storage, in underground vaults across the different continents, or you can keep an access key with you on your phone. Both options are not good enough. While the former makes it difficult to spend your money, the latter is just not secure.
When you have a smart contract running on the blockchain, all the participating computers will have the logic running in parallel with the result compared with each other. You only have to change your version of the ledger is you agree with the conclusion.
Ethereum is currently the most advanced smart contract enabled blockchain.
4. Ethereum’s Key Role in ICOs
According to market analysis, the critical role played by Ethereum in ICOS is also responsible for the price surge experienced by the digital coin. This gives Ethereum an upper hand, looking away from cryptocurrency trading. Chris Keshian, co-founder of the Apex Token Fund told Forbes that, quite some ERC20 ICOs are launching on Ethereum this January. He further said that this would lead to an increase in ETH prices.
Where Can I Buy Ethereum in Nigeria?
You can purchase Ethereum on Luno. Here are the three easy steps to take in buying the crypto coin.
- Open your Luno account and verify the account.
- Make an online transfer and purchase Bitcoins.
- Trade your Bitcoins for Ether
- You can as well buy ethereum on Luno with your ATM card.
Wrapping it Up
The reasons to invest in Ethereum are numerous. However, it can be summarized in two words, future application. As the use of Ethereum blockchain increases, so will the demand for the crypto coin. This will increase in price.
There is money to be made from Ethereum, stop being a doubting Thomas.