Investing in cryptocurrencies for the first time and using that digital currency at the virtual checkout to purchase goods or services (or to top up your online gaming accounts) can sometimes prove challenging, even overwhelming, but with Ethereum, things are easier.
According to sources, there are now more than 25,000 cryptocurrencies out there, which makes it even more difficult for people to decide which ones might be worth investing in.
However, if you are a crypto beginner and want to start using this online payment method as an alternative to traditional online payment methods such as Visa, PayPal or bank transfers, then you might want to consider investing in Ethereum (ETH).
Many experts consider Ethereum to be the most accessible cryptocurrency for beginners, and it’s particularly popular with iGaming players and bettors because it’s now accepted on all of today’s best and most popular ethereum sports betting platforms.
Let’s now take a closer look at why Ethereum is considered the best and most accessible cryptocurrency for beginners.
Why is Ethereum the ideal crypto for beginners?
If you consider the history of Ethereum and its steady upward curve since it first burst onto the crypto scene back in 2015, then you could say that it’s an excellent cryptocurrency to invest in, especially as a long-term investment.
It’s the world’s second-largest cryptocurrency by market cap after BTC (Bitcoin), currently worth more than $52 billion, and for various reasons, many say that Ethereum is the same as Bitcoin but better in so many ways. It runs on its own decentralized blockchain network and uses a set of smart contracts.
This cryptocurrency allows smart contracts and distributed decentralized applications (dApps) to be built and run without downtime or being controlled by a third party, and it also has its own programming language called Solidity, which some have likened to JavaScript.
The thing to remember about Ethereum is that it’s an open-source platform, and the currency is called Ether.
The creator of Ethereum, Vitalik Buterin, first learned about Bitcoin in 2012 and discovered that the technology could do with a few upgrades and improvements, which is what led him to come up with Ethereum.
As a beginner investor, you will find that Ethereum is easy to get hold of on any secure crypto trading and investing platform, making it the world’s most accessible crypto next to Bitcoin. Among the wider crypto community, it’s also considered one of the least volatile and more legitimate cryptocurrencies than Bitcoin.
Finally, Ether is created by mining, and miners receive rewards, which also makes it appealing to beginner investors.
What are the benefits of Ethereum?
Over the past decade, Ethereum has proven itself as one of the world’s best-performing cryptocurrencies, and it comes with several benefits.
Five of the most notable benefits of Ethereum are the following:
- Ethereum transactions tend to be processed much quicker than traditional online payment method transactions
- There’s the potential to gain profit (but still not guaranteed) when investing in ETH
- Compared to traditional online payment methods, ETH transactions are lower-costing
- ETH transactions use higher levels of encryption and are therefore more secure, tamper-proof
- People who use ETH at the virtual checkout can benefit from complete anonymity due to its very nature
Additionally, ETH users can often look forward to higher transaction limits (e.g., bigger deposit and withdrawal limits), and it is now more widely accepted at the checkout than any other cryptocurrency besides Bitcoin.
In other words, whenever you find an online merchant that accepts the cryptocurrency payment method, Ethereum is usually one of the crypto coins they accept. Ethereum also eliminates the need to use credit and debit cards and other traditional online payment methods like bank transfers, PayPal, and so on.
It has a growing/self-sustaining ecosystem, and over the past ten years alone, the price of ETH has increased over 1,000x, from just $3 to more than $3,200! It continues to exceed projections in terms of growth, and on several occasions, it has even outperformed Bitcoin.
When people use ETH at the virtual checkout to purchase goods or services or place bets on their favourite WWE events, they can often look forward to exclusive bonuses and promotional offers just for choosing this cryptocurrency.
Final thoughts
Over the coming years, Ethereum technology will continue to evolve, and experts predict that it will completely transform the online payments sector and revolutionize the internet in several ways.
It’s decentralized, transparent, and ultimately secure. It also comes with higher levels of flexibility and customization features than any other cryptocurrencies. It has high interoperability and impressive community and developer support standards and has become widely adopted and accepted by the mainstream.
Finally, there are several economic incentives for investing in ETH and using it as a viable payment solution.
It’s widely regarded as a transformative force in the world of blockchain technology thanks to its thriving ecosystem, plus its weaknesses are constantly being addressed to ensure it remains a pioneer in the crypto sector.
In other words, the future of Ethereum looks bright, and anyone looking for a new beginning in terms of investing should at least consider this crypto coin before investing in any others.
