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The two coins can be traded on decentralised exchanges , centralised exchanges and peer-to-peer trading platforms where users trade directly with each other and exert more control over the price. Are you buying a totally worthless digital coin or something that offers innovative solutions to existing financial problems? If you are new to digital assets, read our article on cryptocurrency trading for beginners. If you are considering buying into digital assets, look closely at projects individually to see how they might pan out in the future.

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You can store it securely offline in a bitcoin vs ethereum wallet, making it an ideal asset for long-term investing. Thus, due to its scarcity and utility, Bitcoin is often compared to gold and other precious metals. Mining is the process of adding transaction records to a blockchain.

Why Has the ETH Price Risen Recently?

Its high consumption and mining operations have come under scrutiny from environmentalists, while its use in illicit transactions has raised concerns among regulators. Remember, crypto tends to be volatile and can move up or down in value very rapidly. Use caution when investing and remember the information from this guide when making your first purchasing decisions.

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Also, in June 2021, El Salvador officially became the first country in the world to accept Bitcoin, and any cryptocurrency for that matter, as a legal tender. Of course, the deflationary argument in favour of bitcoin falls down if governments decide to regulate specifically against it. India, for example, has proposed a ban on cryptocurrency trading, suggesting it will impose fines on anyone caught holding onto digital assets of any kind. Ethereum is used in smart contracts on the blockchain networks crucial to cryptocurrencies, and payments company Visa recently said it would use it to record crypto payments. Cryptocurrency firms may also be overstating how much investors could receive from investing in crypto, while minimising the risks. Governments and financial regulators in almost every country have warned investors of the risks posed by buying cryptocurrency.

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Before we get into Bitcoin vs Ethereum, BTC vs ETH, let us first explore what Bitcoin is, though some may say it needs no introduction. It was the first decentralized, digital currency and was announced in 2008 by a person or group using the pseudonym Satoshi Nakamoto. Following its announcement, the first and second blocks were mined on and after January 3rd, 2009, signalling the beginning of Bitcoin mining and the blockchain as we know it today.