Why Ethereum Could be Your Next Big Investment in 2023
Ever considered Ethereum as a potential investment? I have!
Once upon a time, Ethereum was the talk of the town, just like Bitcoin. It made me think: should Ethereum be on my investment radar? Is Ethereum a wise investment, or has that ship sailed?
Many trusted voices in the market confirmed that Ethereum was the backbone of numerous digital currencies and innovations. But the question remained - to invest or not to invest in Ethereum?
Welcome to your one-stop guide, designed to help you make the best decision.
What is Ethereum? An Overview
Let's break it down – Ethereum is essentially a smart computer.
Ethereum gives life to computer programs known as "smart contracts."
Smart contracts offer a new way of performing trustworthy transactions without the need for an intermediary. Thanks to the blockchain technology that powers Ethereum, these transactions are not just trackable but irreversible too.
Ethereum ushers in a new era of digital ownership, computer programming, and countless other innovations, thanks to its smart contract capabilities.
That's why we at Garden of Crypto believe in the future of Ethereum. But is it a good investment merely because it's innovative? Not necessarily.
Why Ethereum Could be a Wise Investment in 2023
5 Reasons Why Ethereum is Worth Your Consideration
Ethereum is still young, having been launched in 2016. It may have its quirks and bugs, but for those willing to embrace new technology and take calculated risks - it can be quite a rewarding venture.
So, is Ethereum a good buy? Here are 5 compelling reasons why Ethereum could be worth adding to your portfolio:
1. Ethereum: The Future's Global Computer
What catapulted Ethereum to its dizzying popularity, almost overtaking Bitcoin in June 2017, was its ability to execute smart contracts.
Consider assets like homes, artwork, luxury vehicles, and more. Ethereum's smart contracts can establish and secure ownership of these items. Investors worldwide can bypass the red tape of foreign systems to own a property or artwork in a different country. They can simply use a smart contract built on Ethereum. And yes, they can pay with Ethereum too.
Ethereum is redefining global connectivity for businesses and individuals alike.
With this in mind, the question ‘is Ethereum a good investment’ starts to become quite obvious.
2. Tokenization: Enabled by Ethereum
The World Economic Forum (WEF), through its surveys and research, projected that “up to 10% of the global Gross Domestic Product (GDP) will be stored and transacted with the help of blockchain technology by 2025–27.”
Each country worldwide will potentially use blockchain technology to manage up to 10% of its GDP.
When I was contemplating investing in Ethereum, the idea of tokenization and its numerous applications made it abundantly clear: Ethereum is the future, and there are plenty of reasons why Ethereum holds value.
3. Ethereum: The Platform for Uncensorable Applications
Censorship is a reality in the digital age.
Facebook, Twitter, Youtube, Instagram, all have the power to alter, hide, or delete content.
Ethereum, with its decentralized nature, can help keep the world informed.
The data, smart contracts, and dApps stored on the Ethereum blockchain cannot be shut down by any government or agency and will remain accessible for as long as Ethereum exists.
Ensuring people can make informed decisions is one of the many reasons why Ethereum holds value. So should I invest in Ethereum now? It's the best time to invest in Ethereum and prepare for a censorship-free world.
4. Ethereum: A Hub for Innovation
Ethereum may have lost 84% of its price value after the notorious 2017 ‘crypto bubble popped’ -- but it didn't die. Much like the internet, which survived the 90’s ‘internet bubble,’ Ethereum has gained strength and momentum.
A host of exciting projects are being built on Ethereum: microgrids, electric vehicle charging stations, crypto collectibles, home mortgages, healthcare records, and so much more.
So, why should you consider investing in Ethereum? If you believe in sustainable energy production and management and if you want to stay ahead of the curve, then investing in Ethereum in 2023 might be a wise decision.
5. Diversification: Ethereum, Bitcoin & Beyond
Ethereum and Bitcoin serve different purposes.
Bitcoin was designed to be a digital currency. Ethereum, on the other hand, was meant to be a platform for smart contracts.
With Bitcoin, you can store value and make payments, while Ethereum enables you to program smart contracts, tokenize assets, and more.
Investing in both Ethereum and Bitcoin can be a solid diversification strategy. Ethereum is a good investment if you're looking to invest in cryptocurrencies beyond Bitcoin.
Top Brokers
Reasons Why Ethereum Might Not Be a Good Investment
Like everything else, there are two sides to the Ethereum coin. Let's take a look at some reasons you might want to think twice before investing in Ethereum:
1. The Threat of Ethereum Killers
While Ethereum may have been the first to execute smart contracts, it's no longer the only one.
If platforms like EOS and other so-called “Ethereum killers” outperform Ethereum, it could pose a threat to Ethereum.
2. Security Threats to Ethereum
The most significant security threat to Ethereum occurred in May 2016. The DAO: Decentralized Autonomous Organization had an insecure smart contract, leading to a loss of $70 million in ETH due to a hack.
Since then, Ethereum has improved its smart contract code and security measures, and no such security issues have occurred. However, the threat from hackers remains. The responsibility of buying, selling, and securely storing Ethereum falls on the user in 2023. It requires effort but is certainly manageable.
Is Now the Right Time to Invest in Ethereum?
It could well be.
The notorious 2017 ‘bubble’ has burst, and the price now better reflects the value and use of Ethereum. And with Ethereum 2.0 on the horizon, the current price could be a steal.
Top Brokers
- 0 Deposit Methods
77 % piensijoittajista voi menettää rahaa käydessään kauppaa CFD-tuotteilla tämän palveluntarjoajan kanssa. Sinun tulee harkita tarkasti, onko sinulla varaa ottaa suuri riski menettää rahasi.
