Is Ethereum the second best trading cryptocurrency in South Africa?
Is it better to trade ETH or not? What is it about Ethereum that South Africans love? What are the price predictions for 2018?
Ethereum seems to be the second best cryptocurrency to trade in South Africa, but why do South African crypto fans love this coin so much? We have done some research and we feel that we might have the answer…
Is it the ETH Technology?
Ethereum has captured the imagination of the South African population with a huge rise in the number of people lining up to purchase ETH as a form of investment. Is it the technology that makes it so alluring?
Ether is the fuel for Ethereum platform. Which is computer software technology that, according to its developers, cannot be hacked, tampered with or altered in any way. This technology is a decentralized platform for many other applications besides currency alone.
Its application extends to real estate, finance, banking, crowdfunding and many more. It is designed to run exactly as planned without the possibility of fraud or third-party intrusion. Furthermore, numerous other altcoins use it as a framework.
SA businesses prefer Ethereum to Bitcoin
According to Monica Singer, Blockchain Business Ambassador with international decentralized ledger technology (DLT) outfit ConsenSys:
Ethereum is important to these companies because embedded in the system are “smart contracts”, said Singer.
“If one takes the view that corporations are just a complex web of contracts and obligations of varying scope and stature, then such commitments could be coded into Ethereum, she said. It opens the door for all sorts of new and interesting possibilities. Such as emancipated machines that own themselves and people being employed directly by pieces of software.”
Confidence in the Price?
Ethereum is fast emerging as a major cryptocurrency. In the last few days, it has scaled new heights quite consistently. Also, in the calendar year 2017, it rose by about 3600%. This is one of the main reasons why most of the investors are also looking at ETH as a long-term investment bet.
Is Ethereum better than Bitcoin for the future?
After the tremendous rise in the price of Ether coin in 2017, the question which is plaguing most of the investors is whether to invest in Ethereum or Bitcoin in the current year. First, you need to evaluate the past performances of both as well as the applications. Once you are able to look into that, you can be able to understand which one is a better option for investing.
How high can the price of Ethereum go?
If you just monitor the last 12 months, you would realize that Ethereum has increased in value by 1000%. This brings us to the very important question of whether ETH can increase more.
We think it can, the enterprise ETH alliance already has plenty of Fortune 500 companies which are trying to develop proper applications from the platform as well as the decentralized solutions which Ethereum provides.
Some of the other reasons which can contribute to the rise in the price of ETH are:
- High availability of Ether coin across many different exchanges
- Media Hype
- Actual application
At the time of writing this post, the ETH price on www.ice3.com is:
We think ETH is most definitely a longer-term asset, and we feel this is the reason why South Africans love this coin so much. Let us know your thoughts in the comments below, we would love to hear why you love Ether coin!