There is no surefire way to become rich immediately, and there’s definitely no such thing as a money-making machine. However, investing in Ethereum is as close as you can get to one! On 16th November 2021, Ether reached an all-time high of $4,891.70, according to CoinDesk.
Though Ethereum slipped after reaching its all-time high and is only now recovering, many experts have given Ethereum positive projections for the future. This could mean that investing in Ethereum now could bring great profits in the upcoming years.
Many notable investors and crypto news sources have placed their price forecasts for ETH for the upcoming years. They point out that there’s no doubt that the coin might gradually grow in terms of adoption and development, which could eventually increase the value of Ether as well.
Forbes notes that Ethereum’s development in decentralized finance (DeFi) is what will probably lead to its success in the future, also noting that a steady rise in transactions over time will reflect in its price accordingly.
They said: “DeFi is on the move and Ethereum transaction fees are on the move and block size is jumping to new all time highs.”
Can I Make Money Investing in Ethereum?
Crypto investors and experts believe that Ethereum will increase in value over time. This is indeed a good method that can make you money by buying and holding Ethereum.
Long-term investing or “HODLing”, as it is sometimes known, is one of the best strategies when investing in Ethereum. The idea is to buy ETH when its price is low, hold it and wait for the price to grow, at which point you’ll convert it into your preferred fiat currency. The time you hold your cryptocurrency can range from a few months to several years.
In order to minimize the risk of making a loss on your investments, it’s important that you put the effort into gaining knowledge and confidence when choosing to put your money into Ethereum. You should make use of the endless available online resources such as forums, books, and crash courses to keep yourself informed before you invest your money. Also, it would be beneficial to learn analytical skills to form your own price predictions.
Price predictions and forecasts will help you assess your risk levels and polish your own forecasting skills too. The more you prepare yourself prior to investing in Ethereum, the likelier the chances are that you can profit off of your investment.
Is Buying Ethereum a Good Idea?
There are numerous reasons to justify why buying Ethereum is a good idea. Thanks to the wide variety of trading sites, exchanges, and online brokerages around the world, Ethereum is possibly one of the most liquid cryptocurrencies to invest in. With extremely low fees, you can conveniently exchange Ethereum for cash or other cryptocurrencies.
It should be noted that Ethereum and blockchain technology are still relatively new in terms of trading opportunities and to the financial market as a whole, with new coins hitting the market on a regular basis. As a very young market, it carries with it a high level of unpredictably and high price fluctuations that may at any point lead to massive profits.
Ethereum also possesses a low risk of inflation. It’s not governed by legislatures such as global currencies and has a straightforward inflation strategy which overall lowers its vulnerability. There’s likely no reason to be concerned with Ether losing its value since the blockchain scheme is infinite.
These are among some of the many reasons which persuade crypto enthusiasts to invest in Ethereum over the many other coins which are available. In the end, Ether offers a level of security and technical superiority that places it above much of the crypto market.
Read Also: How to Buy Ethereum - Beginner’s Guide
Where is The Best Place To Buy Ethereum?
There are numerous online exchange platforms available for you to buy and sell Ethereum. One of the most reputable platforms which offers you a unique, user-friendly, and secure investing experience is eToro.
eToro has solidified itself as a respectable brokerage firm with almost five million investors worldwide. The platform also offers CFD-based crypto trading, which allows you to trade Ethereum without actually owning the underlying asset, much like simulated trading.
Regardless of how you choose to trade Ethereum, ensure that the trading platform is trustworthy and offers you the resources and tools needed to enhance your experience depending on your personal interests and needs. Trading rates, account authentication, lending and redemption options are some of the benefits that may influence your decision.
Is it Worth Buying Ethereum?
Ethereum is definitely worth the attention when it comes to investing in the crypto market. The price of Ethereum rose from $130 to $740 in 2020 alone. And as mentioned above, ETH hit its new all-time high of $4,891.70 in November 2021.
Not only does Ethereum allow for peer-to-peer transfers, but also serves as a platform for developing smart contracts and distributed applications. According to The Telegraph, in comparison to Bitcoin, Ethereum’s market cap is actually growing faster.
When the ETH/BTC volume ratio increases, it suggests that more traders are trading Ethereum than Bitcoin, which is a positive indicator of interest and another sign that this may be the time to invest in ETH.
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Should I Buy Ethereum Now?
If you feel that you are prepared and have learned as much as you need to about investing in ETH now may be the time to invest.
As mentioned earlier, ETH recently reached its all-time high of $4,891.70 and it’s predicted to be on bull run again soon. This may be your opportunity to shine and get in early. If you have already decided to invest in cryptocurrencies, you should definitely consider buying Ethereum.
Experts believe that the value of Ethereum has plenty of growth ahead and investing in Ethereum is a smart financial decision for the long-term. Therefore, it could be a good time to buy Ethereum ETH while the asset is performing very well.
eToro – The Best Platform to Buy Ethereum
eToro have proven themselves trustworthy within the crypto industry over many years – we recommend you try them out.
Virtual currencies are highly volatile. Your capital is at risk.
- Ethereum is one of the most stable cryptocurrency investments around today. Based on what you put in, you could get a healthy return.
- Reputable crypto news sources such as WalletInvestor and DigitalCoin expect ETH to almost triple in price by 2025.
- Long-term investments are the most common way to benefit from Ethereum.
- With extremely low fees, you can conveniently exchange Ethereum for cash or other cryptocurrencies.
- In comparison to Bitcoin, Ethereum’s market cap is rising faster.
- The price of Ethereum has risen from $130 to $740 in 2020 alone.
- ETH surpassed its all-time high to $4,891.70 in November 2021.