Both assets are correlated, and you can trade ETH for BTC and vice versa. Cryptocurrency Mining and Total Supply The production of cryptocurrency is called mining, a process that differs for BTC and ETH. Sep 11, · As I'm always trying to produce educational crypto content, I thought I'd write this post up explaining how trading against BTC, ETH (or BNB on Binance) works. The idea behind this post came about when a friend had asked me how to trade coins against other coins as opposed to with stablecoins. An example of this would be trading LINK for BTC. Jul 03, · Bitcoin (BTC) and Ethereum (ETH) are the most important virtual currencies in the market. For a really long time, we have seen how they have tried to maintain their positions with .
Trading with btc or ethTrading Coins Against BTC or ETH Explanation
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Both cryptocurrencies have different use cases and work on their niches. Indeed, the growth in one could help the other receive an impulse and grow as well. In the same way that it happens with traditional companies, virtual currencies have different functionalities. It is not the same to compare eBay with Microsoft, because both of them have their own characteristics, markets, products and business models. Bitcoin has been created as a store of value and as digital money.
Ethereum, instead, is a development platform that uses Ether as a native currency. Programers and companies are able to use the network and create decentralized applications dApps.
With Bitcoin, enterprises and individuals can send and receive funds, or just use the currency to hedge against economic crisis. Comparing both networks in this way, we can assume that Bitcoin and Ethereum are not rival currencies, but instead different networks created for different purposes. For example, developers on the Ethereum network have created collectable cats CryptoKitties that can be exchanged for ETH.
At the same time, there are different decentralized exchanges that allow users to buy and sell ERC currencies based on Ethereum. It is also important to mention that Ethereum has people working on a wide variety of projects like ICOs , layer 3 protocols, etc. Bitcoin is different.
The most famous cryptocurrency has people working in just one important topic: Bitcoin itself. Another interesting point to mention about Bitcoin and Ethereum is the speed of the developments that took place on both networks. Instead, Ethereum did it at the end of , just two and a half years after being created. The same happens with the market dominance.
Bitcoin was growing during more than 7 years to reach current levels, Ethereum was just 3 years to reach such an important position in the market.
The same happens with the number of transactions and active addresses. Ethereum will have to do a great work in order to scale, even more than Bitcoin. Why does it happen in this way? Because Ethereum needs to handle more transactions than Bitcoin, which will be quite difficult to achieve without investing in Sharding, plasma, or Casper. Bitcoin is completely focused in the Lightning Network LN which will allow the network to process an important number of transactions with low fees, and the community is waiting for that.
Both currencies can properly grow and scale without one having to harm the other. Having important community developers behind each of these networks is a positive thing for the whole ecosystem and not just for ETH or BTC. Both currencies have substantially increased compared to 24 hours ago. In the future, these currencies will keep growing and showing the world what they have to offer.
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