Each day, Ethereum (ETH) processes 5 times as many transactions as Bitcoin (BTC) and each transaction on Ethereum is more expensive than the ones on Bitcoin, generating $44 million in fees as opposed to $750,000 for BTC.
Just from this, you might assume that Ethereum is a better buy than Bitcoin. But hold on a second. There’s more to this than meets the eye.
Keep reading for a brief guide on the differences between Bitcoin vs. Ethereum and which one is best when you want to buy cryptocurrency.
Bitcoin Is More Expensive Than Ethereum
You can look at the current BTC and ETH price in two different ways. You can see Bitcoin’s higher price as a deterrent since it will take a lot more cash to purchase one BTC than it would one ETH. But you could see it as a good thing since there are only 21 million BTC available for sale, and that rarity gives it more value (like diamonds or gold).
Ethereum Is Used for Many More Uses
The truth of the matter is that ETH has many more uses than Bitcoin does. Many other cryptocurrencies and networks base themselves on ETH. This means that long-term, ETH has a lot more potential for use in the digital currency world than BTC would.
And ETH is only 6 years old right now, so we are just seeing the start of its bright future, and there’s a lot more that could potentially be done with ETH as time creeps on.
ETH Speed and Scalability Is Higher as Well
Another thing that people will mention quite a bit is the speed and scalability of ETH. If you look at the numbers, you can see that ETH block times stand between 10-15 seconds right now, whereas it’s as long as 10 minutes for BTC.
That’s quite a range. This slow block time for BTC could truly act as a major deterrent in the future as more and more users come onto the blockchain and try to put in transactions.
An ETC transaction will show up in 5 minutes, whereas a BTC transaction takes 40 minutes to show up. This is primarily because the priority for BTC is security, which is how it has been built.
Because of the speed of its transactions (and ETH 2.0 will only be faster), ETH has a higher potential for scalability, and that’s a major point in its favor.
Bitcoin vs. Ethereum – Which One Should You Choose?
The decision isn’t easy to make between Bitcoin vs. Ethereum. It depends entirely on what you are searching for when building your crypto portfolio.
If you truly can’t choose between the two, consider putting assets into both of them. That is, buy Bitcoin and Ethereum both.
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