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(CRYPTO: BTC) and (CRYPTO: ETH) have had a rollercoaster of a year so far. Over the past 12 months, Bitcoin's price has actually risen by nearly 300%, and Ethereum is up by more than 900%-- and that's in spite of the enormous slump they've both experienced over the past few weeks. Now that cryptocurrency prices are falling, it can be a smart chance to "buy the dip" and purchase Bitcoin or Ethereum while they're more budget friendly.

Image source: Getty Images. The case for Bitcoin Bitcoin is one of the original cryptocurrencies, and it has, by far, the most name acknowledgment amongst the general public. If any cryptocurrency is going to succeed, it's going to require to earn widespread adoption amongst sellers. Since Bitcoin is the most recognized cryptocurrency, it currently has a benefit because department.

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In addition, Bitcoin is called a deflationary currency, implying it needs to only increase in value with time. This might provide it a leg up over fiat currencies-- such as the U.S. dollar-- that are subject to inflation. The major threats included The biggest risk associated with any cryptocurrency is that it's extremely speculative at this moment.

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Today, it's anyone's guess whether Bitcoin will ultimately end up being commonly accepted. And if it doesn't end up being mainstream, it might ultimately become useless. Another downside to Bitcoin is its energy usage. The Bitcoin mining procedure utilizes an extraordinary quantity of computing power, which is an energy-intensive procedure. In truth, Bitcoin transactions currently take in more energy than the whole nation of Venezuela, according to a research study from the University of Cambridge.

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Image source: Getty Images. The Most Complete Run-Down for Ethereum Ethereum is a blockchain technology that hosts a native coin called Ether. Ethereum is among the biggest names in the blockchain space, and there is a large range of projects hosted on the Ethereum blockchain. Decentralized finance, for instance, uses the Ethereum blockchain, and so do non-fungible tokens (NFTs).

Developers can also create "smart contracts" on the network, which permit users to carry out safe and trustworthy transactions without assistance from a 3rd party, such as a lawyer. Smart agreements might revolutionize a range of industries, providing Ethereum a benefit over its rivals. Finally, designers are dealing with an update to the Ethereum blockchain to make it even more energy-efficient.