Why Cryptocurrency Markets Are Looking Very Much Like Stock Markets In 2023

Cryptocurrency markets and stock markets have many similarities, which can make it difficult to differentiate between them. Both involve trading of assets, both require a certain level of risk management, and both are subject to market volatility. However, there are some key differences that set cryptocurrency markets apart from traditional stock exchanges.

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Cryptocurrency markets and stock markets have identifiable similarities that are worth considering. Both are financial instruments used to invest in the future growth of an asset or company, both involve buying and selling different assets, and both carry some form of risk for investors.

While there are many differences between cryptocurrency markets and stock markets, it is important to understand the commonalities that exist between them as well.

Read Also: The Idea Behind Cryptocurrency Mining and the Current Trends That You Need to Know

Selling and Buying Platform

The most obvious similarity between cryptocurrency markets and stock exchanges is that they provide investors with a platform to buy or sell digital assets such as coins or stocks respectively. This means that irrespective of whether you’re investing in Bitcoin on Coinbase Pro or Apple shares on Nasdaq, you’ll still be engaging in similar activities such as:

 researching potential investments before committing capital into them

  • Monitoring prices throughout their life cycle
  • Understanding how market conditions affect your holdings.
  • Researching trading strategies related to entry/exit points, among others.

The web of activities above requires implies having access to tools like charts & graphs which allow traders/investors alike always keep track of their positions, this also plays in enabling informed decision making when needed (such as taking profits).

Market Volatility

Another key similarity worth mentioning here relates directly towards volatility found within these two types of financial instruments – crypto assets & equities alike. Both asset classes experience drastic price changes over short periods due primarily because they lack liquidity compared with other more traditional forms investment vehicles (like bonds).

 The uniqueness of these assets makes it paramount for any investor seeking exposure via either avenue to know about their attendant risks. Exactly what kind of risks that each one entails must be grasped for appropriate precautions to be taken so as to mitigate losses where possible.

The point here is that diversification across multiple cryptocurrencies or stocks can be helpful. Utilizing stop loss orders ensure funds aren’t wiped out -single bad trade gone wrong! 

Recommended: With Companies Investing In Bitcoin, Here Are The Likely Areas of Impact You Need To Know

An Abundance of Sophisticated Trading Measures

Overall, Cryptocurrency Markets & Stock Exchanges share pointed characteristics from basic operations right up sophisticated trading techniques.

While there is no doubt there will always remain certain distinctions separate them apart from one another given unique nature each respective industry – yet knowing similarities present allows savvy individuals make best use opportunities available whichever side fence decide stand upon!

Market Predictions

The most obvious similarity is the fact that investors in both types of financial instruments buy and sell assets for profit or loss depending on their predictions about future price movements. As with any type of investment vehicle though, traders must be aware of the risks associated with each asset class before investing capital into either one.

 In addition to the above commonality between crypto-assets and stocks, it is their susceptibility to market volatility that sometimes led to fails in market predictions. The truth is that prices can move quickly in either direction due to news events or other factors beyond an investor’s control. Both markets have this pitfall, and it also binds them as a similarity.

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Glaring Differences

  • One major difference between cryptocurrency exchanges (such as Bitcoin) versus traditional stock exchanges lies within their underlying technology. Both markets have different underlying algorithms. Blockchain drives crypto while  the stock market uses a range of technologies.
  •  Blockchain technology provides a secure platform upon which all transactions take place while still allowing users anonymity. This is not something that is possible through more established channels such as NASDAQ or NYSE Euronext where personal information must be provided prior conducting trades online.
  • Moreover, cryptocurrencies offer lower transaction fees compared with what is charged by banks when sending money abroad thus providing an alternative source for international payments.
  • Lastly, unlike stocks whose performance depends heavily on macroeconomic conditions like GDP growth rates inflation etc., cryptocurrencies show less correlation with global economic trends. This gives long term investors a chance to find value in diversifying portfolios across multiple asset classes including digital currencies. 

Last Line

Overall, although cryptocurrency markets share several features like traditional equity investments, there remain distinct advantages offered by digital tokens that should be considered before committing funds any given project.

By understanding nuances separating the two different forms trading-savvy individuals should ably capitalize on glaring opportunities available regardless of the risk element. After all, the big money-makers would say “the greater the risk, the bigger the reward”.

Read: Are You Looking To Finance That Cryptocurrency Project ? Here Are The Leading IEO Options You Need To Know

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NFT Staking Guide: What It Is And How It Works

NFTs have emerged as an attractive extension of cryptocurrencies and the possibilities of blockchain. Here is how staking works with NFTs.

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One of the hottest trends in the industry today is the idea of “NFTs”. What is NFT? It is a special kind of token that represents a digital asset or physical item.

For example, a token that represents a digital art piece that you’re selling on the NFT marketplace could be considered an NFT. Non-fungible tokens are an interesting concept because they represent a way of adding utility to something — in this case, art. it then becomes a digital asset and can be sold.

The token’s identifying information is stored in a decentralized registry, in the form of Smart Contracts. These registries, similar to the ones used for decentralized apps, enable developers to digital assets directly to users.

As opposed to cryptocurrencies like Bitcoin where one BTC has the same value as another, non-fungible tokens are all unique in their own right. Furthermore, they are not divisible like fungible tokens. In this guide, we will explore NFT with regards to staking and the mechanics of how it all works.

Read Also: What Is An NFT Auction? Here are the Vital Insights

NFT Staking

One of the thoughts that come to mind is the prospect of staking them for additional profits. Let’s start with the basics, and build from there.

What is Staking?

Among many other things a user can do with NFTs is the idea of staking, which allows you to lock up some of your NFT tokens in a proof-of-stake crypto wallet to secure and govern a blockchain network. It is done in exchange for rewards, rather than a simple deposit or withdrawal model. It’s like a spin-off from mining, but not the same thing.

Why Stake NFTs?

The NFT ecosystem is hampered by low liquidity. At present, it is underdeveloped, as most users purchase the tokenised asset for long-term appreciation. Others do so to burn them, which creates scarcity, and, in turn, increases the value. Staking comes into play to resolve this problem. Staking a non-fungible is no different from staking a cryptocurrency.

Once you’ve found, for example, a digital asset with a revenue-generating potential, stake your tokens and receive incentives. The fee and block could come in the form of an annual percentage yield (APY) of the staked token, depending on the lock option duration. It could feature additional network validation, to ensure transaction integrity and confirmation.

Read: How Yield Farming Works With MoonSwap

Staking rewards depend on a variety of factors. Among them is the NFT asset’s potential to generate considerable income streams. NFT crypto staking can provide rewards up to 100% APY. Besides generating income for users, NFT staking also increases liquidity and attract more investors to the ecosystem. In turn, this will further facilitate the ecosystem’s growth.

Projection of the NFT Ecosystem

At the moment, NFTs encapsulates crypto, gaming, and digital artwork collectibles. However, content creators are currently hopping on the bandwagon, incorporating NFT into their products. For instance, artists who are into oil painting can create a digitized version of their works and even earn royalties.

Notable brands current license their NFTs, including Kellogg’s, Pizza Hut, Ubisoft, MGA Entertainment, and Taco Bell. As of June 2021, Twitter launched its NFT collections. If there’s any better time to become a part of the NFT ecosystem is now!

Conclusion

If you are already an NFT enthusiast who’s short on ideas for how to generate additional income other than HODLing long-term, NFT staking may be the answer. Look for NFTs with the potential to create good returns and invest your money. What makes staking interesting is that you don’t need to purchase your asset of choice outright; yet, you can partly own it and still earn high ROIs.

Here is How to Buy Bitcoin in Nigeria

Nigeria is a booming market for cryptocurrency right now, and here is how to buy bitcoin in the country using some of the leading platforms available.

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How to Buy Bitcoin in Nigeria

When it comes to the selling and buying of bitcoin, Nigeria is at the forefront having the highest Google searches for Bitcoin after the US and ranking top in peer-to-peer transactions. If you are interested in joining the current revolution and being well informed on how you can trade Bitcoin safely in Nigeria, please read on.

What is Bitcoin

According to Bitcoin.com, Bitcoin in the practical sense is money that exists in a digital form.

Bitcoin Price Highlights

The price of Bitcoin is the current price at which bitcoin is being traded. It is determined by the buyer and seller. Despite this, its price varies across exchange platforms such as Coinbase and Binance because of market inefficiencies.

Statista Data Grab

Within the past five years, Bitcoin has witnessed dynamic surges in its value rising to around $1,290 in March 2017, the highest ever it has been before then. This trend continued across the months getting to a peak of $19,783.06 nine months after on December 17, 2017.

Read Also: All You Need To Know About Making Money With Binance Peer-To-Peer Trading In Nigeria

Up till the year 2021, the price of Bitcoin continues to increase with surges and minimal decline along the way. On April 10, 2021, Bitcoin recorded its highest ever price to date some months after Elon Musk and Tesla announced their investments in Bitcoin peaking at above $60,000.

Though the value of Bitcoin in the crypto market suffered a crash to half this price in May 2021 due to rumors of Tesla selling its Bitcoin holdings, the price is still on the high side when compared to how it was a year ago.

The Features of Bitcoin

It is Decentralized

The very first and intriguing feature of bitcoin is its decentralization. This simply means that there is no central power or regulator as the case is with traditional currencies which are designed, issued, and managed by a central authority.

Transparent transactions

Bitcoin transactions are visible to everyone in the digital world of cryptocurrency though Individual Bitcoin assets are concealed to promote privacy and confidentiality which motivates positive trading.

Anonymity

It is to be stated here that the identity of users of Bitcoin remains anonymous and the chances of tracking transactions back to Bitcoin users are very minimal. This is to prevent online robbery or digital theft.

Fast transaction

When compared to other modes of transaction such as bank transactions, bitcoin transactions are faster.

Nonrefundable mode of transaction

Bitcoin transactions are a one-way mode of transaction. Any transaction made from a sender to a buyer cannot be reversed unless the buyer is willing to do so.

Digital Currency

Bitcoin is not a physical currency but a digital one. You can never carry a bitcoin in your purse or pockets in the form of notes or coins, but you can easily carry it on your phone or tablet.

Simple to use

Most of the time, to open and manage a bank account is quite tedious and long. This is not the case with a Bitcoin account. You can set up your account in a matter of minutes.

Value is determined by demand

The value or price of Bitcoin is not fixed like other assets. It depends on market dynamics. The value of Bitcoin is determined by the strength and volume of its demand.

How to Buy Bitcoin

If you are interested in buying Bitcoin in Nigeria and ready to explore the untapped benefits in the world of cryptocurrencies, there are different exchange platforms, brokers, and marketplace that can help you. Below is a guide on how you can go about this.

Buying Bitcoin on Binance

Binance is the biggest cryptocurrency trading platform on earth today, recording up to $2.46 trillion in May 2021 transaction volumes. The platform offers the largest trading base for listed crypto and offers the major trading pairs with leads like BTC, ETH, XRP, USDT, DAI, BNB and BUSD on the P2P front.

At present, to buy Bitcoin in Nigeria using the Binance platform will only be possible using the P2P platform it offers. Firstly, you need to register your new account using this process:

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           You need to sign up for a new account  and complete the KYC procedure
      

·        Your driver’s license, international passport or national ID card will be needed

·        You also need to link a bank account to your profile to use for the transactions

·        You will be notified if your application is successful, and you can start using your new account.

How to buy Bitcoin on Binance P2P  Platform

On the platform, log in to to your account, and navigate to the P2P page from your account dashboard.

  • Locate the  the P2P and express tab and click on your preference
  • With the express tab, the platform matches you with the available sellers on the platform with you deciding
  • transfer the funds to the seller and wait for at lest 15 minutes
  • You will have to click on payment made tab to notify the seller
  • Your BTC will show up on your balance after the seller confirms receipt of payment made.

Buying Bitcoin on the Coinmama Exchange platform

Coinmama as an exchange platform was founded in 2013 with the mission of making simple how Bitcoin (BTC) is traded. The platform has more than 2.9 million users in over 190 countries in the world. It also provides the platform for some users in selected markets to sell their Bitcoin.

How to open an account on Coinmama

  • Go to the sign-up page to create your account. Fill in your email in the allocated spaces as well as your country of residence to get started.
  • Thereafter, click on the verification link sent to your email

Verification

  • Complete the requested form to confirm your identity and safeguard your account.
  • Thereafter, you will be required to upload an ID to approve you for purchase. Choose the ID type you will like to upload based on your country of residence. Take a photograph of the front and back of your ID with your phone camera with all four corners visible and clear image and text, then upload them to your account.
  • Then, write “Coinmama” and date on a piece of paper. Hold the paper and the ID you’ve just uploaded and take a photograph of yourself. Ensure your face, ID, and paper note are visible. Then upload the photo to your account.
  • After successfully uploading, click to submit. Your form and documents will be reviewed by the verification team for verification. If everything is okay, you will be approved to buy Bitcoin online with Coinmama within fifteen minutes.

How to buy

  • Sign in to your account to buy bitcoin. Select the cryptocurrency (Bitcoin) you want to buy and the currency of your choice
  • Select the package of your choice and input your desired amount, thereafter you can tap “buy”
  • Input your selected third party wallet address
  • A confirmatory link will be sent to your email to confirm your wallet address, click on it if it is correct
  • After your payment has been approved and the wallet address confirmed, the coins will be immediately delivered to your wallet.

Buying Bitcoin on the Luno Exchange platform

Luno has been in the cryptocurrency industry since 2013 with transactions worth more than 14 million dollars. The platform has customers in over 40 countries.

Must-Read: FIVE CRYPTOCURRENCIES WITH MORE THAN 10,000% ROI IN 2021

How to open an account on Luno

First, you need to go to the sign-up page to create your account. Similar to that of Coinmama

Verification

  • Complete the requested form by filling in your first name, middle name, gender, date of birth, phone number address, city, and zip code. You can also click on the ‘I’ve confirmed my email’ option in the Luno app. After which you will be automatically verified with the submitted phone number and personal details.
  • If not, you will be required to upload a document for verification (driving license, identity card, or passport). Open the Luno app and sign in, tap Profile on the Menu, navigate to Settings, select Upgrade. The document is required to show your identity number, name, date of birth, and a clear photo.
  • You may also need to confirm your address. To get this done, you will upload a photo or an ID which contains your name, address, residency, and issue date. This ID must not be older than 3 months.

How to deposit

  • Open the Luno app and sign in
  • Select Wallets from the menu
  • Choose your local currency wallet
  • Select Deposit
  • Choose the method with which you’d like to top-up your wallet
  • And follow the on-screen prompts from there

How to buy

  • Verify your identity on Luno.
  • Deposit to your local currency wallet, once it reflects in your wallet, then you can proceed to buy.
  • Thereafter, you can simply tap the specified amount on the homepage screen to buy or specify the amount of your choice. Then pay or make use of Luno Exchange.

Buying Bitcoin on Coinbase

Almost all users begin their crypto journey through Coinbase. The platform has been in the cryptocurrency industry since 2012 with quarterly trade worth more than 335 billion dollars. The platform has more than 56 million verified users, 8,000 institutions, and 134,000 ecosystem partners in over 100 countries.

How to buy on Coin base

  • Sign in to Coinbase. Account creation and verification quite like Coinmama
  • Choose either Buy / Sell on the upper right-hand side.
  • Select the Buy field to choose the asset you’d like to purchase. 
  • Specify the amount you’d like to buy either in crypto or your local currency.
  • Choose your payment method.
  • Click Preview Buy to verify your purchase (you can always click the back arrow to make a change).
  • If your details are correct, click Buy to complete your purchase.

Buying Bitcoin on eToro

eToro is a social trading network founded in 2007. It is among brokers hosted on trusted brokers.ng. You need to register an account on the platform to buy bitcoin.

Opening an account involves:

Uploading a valid ID (ID Card or Passport) and a proof of address (electricity, water bills, etc.), through eToro’s platform. Approval takes less than a day.

To buy Bitcoin on eToro:

  • Select a bitcoin exchange or trading platform, in this case, the eToro trading platform
  • Ensure your account is verified
  • Deposit through your preferred deposit method and buy bitcoin fractionally.

Buying Bitcoin on plus 500

Plus 500 is a trading platform founded in 2008 which allows for the trading of cryptocurrencies among other commodities such as Forex and ETFs.

It is among the brokers hosted on trustedbrokers.ng. Though it is one of the main trading platforms in the United Kingdom, it is not open to customers from Nigeria.

Buying Bitcoin on marketplaces such as Localbitcoin

LocalBitcoins is an escrow service that serves as a crypto marketplace helping to match bitcoin buyers and sellers. Users are free to advertise trades for any payment method they choose. Below are five steps you can follow to buy bitcoin:

Step 1:  Register

Register an account with LocalBitcoins.

Step 2:  Search for advertisements

After registration, go to the main page, and search for offers.

Step 3: Select an advertisement

From the list shown, select offers.

Step 4: Pay the seller

Evaluate the offer and pay

Step 5: Mark payment complete

Click the paid button and the transaction will reflect in the wallet

How to store Bitcoin

In the same way money or cards are stored in a purse or handbag containing a wallet, bitcoins are also stored on the phone or computer desktop hosting a digital wallet whether web-based or on hardware.

Bitcoin Price Outlook

Though Bitcoin has struggled over the past few months, even falling by more than half in April 2021, many analysts that bitcoin may overtake the U.S dollar as the dominant form of global finance by the year 2050 which puts the price of Bitcoin at above $66,000 by the end of 2021.


Recommended: How NFTs and Cryptocurrencies are Making Inroads Globally

All You Need To Know About Making Money With Binance Peer-To-Peer Trading In Nigeria

Binance P2P platform gives sellers of crypto the avenue to meet buyers with no hindrance and fees. It is fast becoming the preferred way to trade crypto in Nigeria.

Nigeria is presently the second leading global center for online searches conducted for bitcoin after America according to recent Google data. The range of uses for cryptocurrencies in Nigeria includes remittance for imports, support for family and friends as well as settlement of other bills.

The unfolding scenario makes Nigeria a huge market for crypto service providers, and with Binance as a formidable global leader, we have set out in this guide all you need to know about Binance P2P, and how it works in Nigeria.

What is P2P trading?

When a trader and a seller get matched on a cryptocurrency trading platform with no intermediary taking custody of fees or value thereof, it is a Peer-toPeer setting at work. with Binance, users of the P2P platform are able to buy and sell crypto with ease using their wallets and bank accounts or agreed payment methods.

What to know before getting started?

  • You need to have a registered account
  • Provide KYC details like proof of ID, BVN, and a phone number
  • Binance holds on to the crypto in escrow till the seller confirms receipt of payment
  • The seller should not release the crypto without confirming that expected payments is received
  • A private messenger is available on the platform for ease of buyer to seller chat or to contact customer support.

All of these above safeguards are necessary to avoid sellers and buyers losing funds to fraud, and the process is credible if adhered to always.

How can you make money with P2P trading?

Any market where there are sellers and buyers offer a chance to make money, and Binance P2P platform is not different.

Many people are online and looking for ways to bypass the forex shortages in the country and cryptocurrencies are a formidable pathway. You can trade NGN, DAI, BNB, BTC, XRP, USDT BUSD and ETH on the platform.

1. Work with clear terms

On your sales page, state your transaction terms in simple and clear terms and be sure to abide by these terms. You can state:

  • Make payment to the recipient provided and send me an SMS
  • Or please send a private message after payment or send an SMS
  • Expected turnaround time is 15 minutes, please be patient

If for any reason you are not able to meet the terms, be prompt to communicate this to the buyer to avoid a dispute initiation.

2. Use a reasonable profit margin

For example, if BTC/USD is 40,000, selling at $40,500 will net you more buyers than using $42,000, this is as there are many buyers and sellers on the platform. Several transactions over a month can earn you up to $4,000 in fees instead of waiting for three months to make a single sale with a high margin.

3. In-demand payment methods are preferable

Whether it is you setting your terms or working with someone who does, you need to stick to in-demand payment methods. Do not make assumptions or vague descriptions.

Be bold to say, “Pay to XYZ Bank only” or ‘’Send cash with a money agent only”. Either way, the funds can only be sent to the account or recipient that you have provided.

4.Be friendly with helping new traders

On the platform, you are going to come across new traders, and they might not be familiar with the processes. If you come across one, be patient and provide some guidance. The Binance P2P platform has a private message function that is free of charge to use between sellers and buyers, you can message the buyer to make clarifications.

5. Be responsive

it is your personal duty to be responsive and make sure that you respond to enquiries in a timely manner to keep good ratings. If more buyers rate you poorly and line up complaints on your profile, you will lose your patronage and be out of business in no time.

How to become a verified merchant?

The process here is simple and you need to adhere to the requirements to be accepted:

  • Open a new account and be registered
  • Be KYC-compliant and at least 18 years old
  • Provide a utility bill as proof of residence
  • Have a fiat bank account in your name with at least $100 or its local equivalent
  • Complete and submit an application form
  • You also might need to shoot a small video, holding your ID card, and an inscription that is required of you in order to validate your ID.

With these steps completed above, you will be able to get an approval to become a seller in Binance P2P platform.

Are there risks in P2P trading?

There is a good chance to make money with the P2P platform and there are inherent risks too that are worth highlighting. The safeguards are also shown side by side.

  • Avoid losses as a seller by refusing to take your trades outside the platform so as not to fall prey to scams. Binance provides escrow account to house your crypto till you have confirmed receipt of funds
  • Take an additional step to log into your banking platform to confirm your buyer’s deposit to avoid releasing crypto when payment is not made
  • Use a second phone number different from your bank alert phone number as unscrupulous people can send fake alerts to your phone perpetuate fraud
  • If a payment claim is made by a buyer and it does not reflect in your account, you can file an appeal to get come information and customer support assistance.

Tips to get more trades

You can get more trades by using these tips:

  • Use your referral code and share on social media
  • Post the link to your seller’s profile on your social media pages or crypto-themed groups
  • Join the Binance Africa/Nigeria Telegram group and you can win some referrals there.

How to buy on Binance P2P Platform

Binance is a cryptocurrency exchange platform that was created in 2017. It also provides cryptocurrency users with wallets to store their cryptocurrencies.

How to open a Binance account

  • Go to Binance and click the “Register” button. 
  • Fill in your email address and select a secure password. If your friend gave you a referral code, you can also input it in the “optional Referral ID” space created.

Verification

  • Follow the steps given for verifying your account by clicking the code sent to your email address or mobile number.
  • You may also be required to upload an ID or document or level 2 identity verification. Please follow all the instructions given for easy verification.

Currently in Nigeria, the easiest way to buy Bitcoin on Binance is the P2P platform , which does not necessarily need you to make a deposit

How to Buy Bitcoin on Binance

Because of the regulations on cryptocurrencies trade by the Central Bank of Nigeria, a new way was devised by exchange platforms such as Binance to make buying Bitcoin easier. This new way is what is called Peer-to-peer transactions or P2P. It connects buyers to sellers directly with no transaction fee unlike other platforms on both app and website.

This method allows you to buy bitcoin from several sellers online. Below are the three steps to follow to buy your bitcoin successfully.

Step 1: Pick your preferred currency and payment method.

  • Click on the P2P section.
  • Select the Buy tab and the BTC crypto. Then click on the filter icon at the top-right part of your screen
  • Select your preferred method and currency. As a Nigerian, you are to select Naira and Transfer via Bank.

Step 2: Make transaction

  • Choose an offer from the offers displayed
  • Input the number of coins you want to sell, choose a payment method, and click on Buy BTC.
  • Thereafter, make a transfer to the seller’s account using the information provided before the time lapses. You may also chat the seller up.
  • Ensure that you send the money to the seller and tap on Transfer next.

Step 3:  Bitcoin transferred to your wallet

  • Click on Confirm. Avoid doing this if you have not made any transactions. (It is a violation of the P2P User Transaction Policy).
  • Thereafter, the status of the transaction will display pending.
  • After the seller can successfully confirm, Bitcoin will be transferred to your wallet.

Start Selling and Winning

You can start selling on the Binance P2P platform with all the insights provided in this guide. Be mindful of the safeguards, and you will be able to make a decent amount of income and ROI.

Cryptocurrencies, Ethereum and The Future

The use of Ethereum in the crypto chain has been monumental, From the initial rise of ICOs to the growth of DeFi, it has become a leading bulwark. Here is the pathway to the future.

Cryptocurrencies took the world by storm in 2017 when Bitcoin reached an ATH that tethered at the $20,000 mark. Ever since, the market has posted some amazing ROI that has left other asset classes scrambling for cover.

With the initial mad rush to take a cut of the bitcoin pie simmering down by nid-2018, investors did begin to explore other crypto with potentials, While ETH was also affected by the downturn that hit the crypto market, other initiatives led to the development of DeFi markets, which largely revolved around Ethereum at the time.

In a factual assessment, with its smart contract features, Ethereum largely led the way for real world assets to be tokenized although that glaring advantage has taken a hit of late. The likes of Cardano, Tron, Stellar, and Ripple have introduced smart contract features that are giving Ethereum platform a good run for the DeFi money.

If you want to thrive in the modern market, you should familiarize yourself with the features of Ethereum that have helped positioned it a leading cryptocurrency and a global digital market frontline asset.

Also Read How Chainlink Connects Smart Contracts To The Real World And The Opportunities Therein

About Ethereum

Ethereum can be referred to as a modern technology covering vast online activities and trading. Ethereum is an online platform that aids payments and transactions globally. It provides an avenue for everyone to work online and earn money.

Ethereum has made transactions globally easy as it covers and accessible globally. All transactions and payments will be made online with ease and no third-party issue. All that is needed is to register on the platform, secure your wallet, fund it and transact with precautions. Ethereum service is also available 24/7 customer support service if you have any issues. 

Perks of Ethereum

This crypto provides an unbiased and equal opportunity for everyone. Being on the platform and obeying rules makes you entitled to benefits and profits concerning trades and activity. 

It serves as a modern avenue for online development and financial breakthrough. Ethereum provides a transparent, open-source service that allows you to monitor your activities and use strategies or codes used by pros on the platform. 

It makes investments much more effortless. Ethereum serves as your bank, your secured wallet, which can be accessed and used for any transaction anytime, anyway. 

It is available in any quantity. You can purchase Ethereum worth any value of money you have for small investors or beginners.  

Recommended: With Companies Investing In Bitcoin, Here Are The Likely Areas of Impact You Need To Know

A Guide on how to get started on the Ethereum platform. 

After registering on the platform, here are the basic things you need to do. 

Select a wallet. This wallet connects you to trading on the platform and keeps records of your transactions. 

Fund your wallet. The currency of Ethereum is ETH, as the US currency is Dollars (USD $). This currency will be exchanged for any transaction with any currency on the platform. This is like a balance to avoid confusion and currency preference. 

Start trading on the platform. This is essential to make profits and key to your financial breakthrough. 

Frequently Asked Questions About Ethereum and its Future

Is it feasible for Ethereum to reach $2000? 

Generally, every cryptocurrency is not fixed; hence rise and fall in their price. Ethereum has once been valued at $1400, though fallen now but very much feasible to exceed the $2000 worth.

Is Ethereum better than Bitcoin? 

With the recent rise in Ethereum value, it is safe to choose Ethereum over Bitcoin in terms of its usability, beyond just as a crypto. Its blockchain value is growing.

Ethereum is the future, and this can be seen from the expanding use it has seen in the DeFi game.

Conclusion

Ethereum is a leading crypto with clearly marketable credentials. With steps taken to re-imagine the blockchain and make it nimble and responsive to marketplace realities, there is no doubt that it is not giving up its market lead so easily.

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