Bitcoin vs Ethereum (English)
Welcome back on the blog ! Happy to have you here. :)
Here is a simplified overview of the differences between Bitcoin and Ethereum, which are the two most important cryptocurrencies in this space.
Since I am here to help beginners to understand crypto, I am going to oversimplify my explanation. :)
Bitcoin can be described as a "store of value" due to its limited supply and its perceived value which has led to people describing it as digital gold.
The anti-cryptos (including bankers, some of the baby boomers and most governments, for example, will be quick to contradict this). After all, everyone has their own opinion and their own view of things. Only time will tell who is right :)
There will never be more than 21 million bitcoin. This limit, known as the "hard cap", is encoded in Bitcoin's source code and enforced by nodes on the network. Bitcoin's hard cap is central to its value proposition, both as a money and an investment.
Whereas Ethereum can be described as "programmable money" as you can build distributed apps (similar as iOS or Android), decentralized finance (DeFi) protocols that can replace financial services, and mint non-fungible tokens (NFTs) on the Ethereum blockchain.
Now, Bitcoin supply is limited but the supply of Ethereum is unlimited.
Despite the difference in price, you can easily buy a fraction of Bitcoin and Ethereum on many exchanges.
For more information on exchanges you can use, check out my recent post called “Best apps to buy crypto”.
As always, I hope this post helps you slowly feel more comfortable with crypto and blockchain.
Thanks for reading this weekly crypto blog posts and if you have any question, feel free to DM on Instagram !
Take care for now and remember, Crypto ain't just a guy thing !
See ya next week on the blog for a new crypto for beginners post.