Let's dive into the comparison between Bitcoin (BTC) and Ethereum (ETH).
*Current Prices*
- Bitcoin (BTC): $118,861.40 with a 0.16% increase
- Ethereum (ETH): $3,786.51 with a 1.04% increase
*Key Differences*
- *Purpose*: Bitcoin is often referred to as "digital gold" and serves as a store of value, while Ethereum is a programmable blockchain platform that supports smart contracts and decentralized applications (dApps).
- *Consensus Algorithm*: Bitcoin uses Proof-of-Work (PoW), whereas Ethereum uses Proof-of-Stake (PoS), making it more energy-efficient.
- *Transaction Speed*: Ethereum processes up to 27 transactions per second, compared to Bitcoin's 5 transactions per second.
- *Smart Contract Capabilities*: Ethereum supports smart contracts, while Bitcoin does not.
*Investment Potential*
- *Stability*: Bitcoin is considered a safer bet due to its stability and long-term store of value.
- *Growth Potential*: Ethereum offers higher growth potential due to its role in DeFi, NFTs, and Web3, but comes with more volatility.
*Comparison of Returns*
If you had invested $1,000 in BTC or ETH:
- *Yesterday*: BTC would be worth $1,008.89 (0.89% increase), while ETH would be worth $1,068.96 (6.90% increase)
- *1 year ago*: BTC would be worth $1,763.84 (76.38% increase), while ETH would be worth $1,092.29 (9.23% increase)
*Current Conversion Rate*
- 1 BTC is equivalent to approximately 31.13 ETH
- 1 ETH is equivalent to approximately 0.03213 BTC ¹ ²#BTCvsETH