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Bitcoin or Ethereum: Should you convert your BTC to ETH or vice versa?

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An argument in favor of Bitcoin

Bitcoin was the first cryptocurrency to gain real acceptance by the public and mainstream finance. Today, many merchants accept Bitcoin as a means of payment, Bitcoin futures are publicly traded, and more and more professional investment firms include the cryptocurrency in their portfolios.

This gives Bitcoin legitimacy and thus the security of a long-term investment.

It is also one of the best performing cryptocurrencies for this reason, as most investors, whether professional or retail, put the bulk of their cryptocurrency holdings in Bitcoin rather than other cryptoassets, including ether. As a result, this means that returns are potentially higher when holding Bitcoin, especially during bull runs.

An argument in favor of ether

While Bitcoin enjoys everyone’s trust and popularity, the Ethereum network carries the future of decentralized finance (DeFi). Unlike Bitcoin, which is mainly used for payments or investments, the Ethereum network has many more functions thanks to the advanced use of smart contracts.

Smart contracts have enabled the creation of DApps and are the lifeblood of DeFi – this is how we can now lend and borrow cryptocurrencies, secure cryptocurrency holdings, tokenize physical assets such as real estate and much more.

For this reason, Ethereum and similar blockchain networks are considered the future, while Bitcoin evolves very little in terms of functionality.

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And let’s not forget that Ethereum’s consensus mechanism has switched to proof-of-stake, reducing the network’s energy consumption to 99.9%, making it the greener of the two.

If you care more about the green aspect, Ethereum is the cryptocurrency to own. However, if you value stability and decentralization, Bitcoin is the most secure cryptocurrency to own.

The post Bitcoin or Ethereum: Should you convert your BTC to ETH or vice versa? appeared first on The ₿log.

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