▶ Coinbase Website: Coinbase.com
▶ CEX Website: cex.io
Bitcoin and Ethereum are the two major crypto currencies on the market. They operate on blockchain technology and are both valued at different rates. A blockchain is a decentralized, distributed, digital public ledger consisting of records called blocks, used to record transactions across many computers so that no block can be altered independently.
Bitcoin
Bitcoin was the first successful cryptocurrency to use the blockchain technology created in 2009 by Satoshi Nakamoto, a person or group of people. At the time of writing this article, 1 Bitcoin or BTC is worth $38,225 and in January of 2021 was at an all time high of $42,000. At the time of Bitcoin’s creation, a cap of 21 million bitcoin was set to ever exist. To compensate for this, Bitcoin undergoes halving which cuts the pace of bitcoin creation in half every 210,000 block transactions. The last bitcoin halving was in May 2020 and the next one is expected to occur in 2024. The 21 million cap placed on bitcoin has given investors and others the opportunity to compare it to gold.
Bitcoin enjoys the first mover advantage as regulators and other financial bodies have accepted the possibility of a universal crypto currency. There are even talks of the ability to trade bitcoin futures to be traded publicly in the stock exchange.
Ethereum
Ethereum or Ethers operates on another blockchain platform that goes beyond crypto currencies. Their blockchain has the ability to operate smart contracts and decentralized applications.Many cryptocurrency use Ethereum to operate or run their application. In 2014, Ethereum launched a presale for ether. Ether is used for running commands on the Ethereum platform and is used to build and run applications on the platform. Ethereum is used to exchange value, store said value, as collateral, and to run distributed applications. At the time of writing this article, Ethereum was worth $1676.5.
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▶ Coinbase Website: Coinbase.com
▶ CEX Website: cex.io
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