Do you know your cryptocurrencies well? If so, then you are aware that after buying billions of dollars of Bitcoins, Elon Musk has decided not long ago, that you can’t buy a Tesla car with them, anymore. Something to do with the fact that they are not sufficiently environmentally friendly. That is the kind of world virtual currencies live in. Here are some of the latest news that affect this world and the electronic wallet of those who own them.
The Race for Leadership between Bitcoin and Ether
Ether is the device that serves the Ethereum blockchain technology. Although it doesn’t’ have the visibility that Bitcoin has (yet), and certainly not its market capitalization ($3 trillion for the Bitcoin), most specialists in the field tend to agree that Ether is the current leader as tomorrow’s cryptocurrency. That’s because the other applications being developed with it, are rapidly becoming very popular. And so, it is quite plausible that one day Ether will be more popular, and its value higher, than the all-famous Bitcoin.
There is no doubt that it has been quite an exciting year for virtual currencies. Those who had invested in the biggest 2020. If you want to benefit from this market, find the best trading platform Australia online, and start investing in one, or all the main cryptocurrencies available today. Keep in mind that Bitcoins and Ether are probably the safest ones on the market.
Cryptocurrencies: More useful in Applications than for Transactions
The biggest problems that cryptocurrencies still face today, when it comes to their use in transactions, is that they are still considered a tax liability. That is not good news for those who prone that these virtual currencies should replace the old ones. However, the numerous applications that use the blockchain technology are highly appreciated and used today. Since Ethereum is specialized in these, and not in transactions, that is what makes it so attractive to investors, today.
This tax liability factor doesn’t stop new virtual currencies to be created on a regular basis and to be made available to buy, for the public, as an investment. But it is quite difficult to have a clear view of what the market will look like for them, in a few years and how they will end-up being used.
For now, we can at least safely assume (keeping in mind that financial market can turn around rapidly) that the trend that made them so popular and raised their value so high, will not suddenly stop tomorrow.