Is Ethereum Classic Worth Buying: The Pros And Cons Of Investing
Ethereum Classic (ETC) is one of the most exciting and undervalued assets in the world of cryptocurrencies. Formed as a fork of Ethereum (ETH), Ethereum Classic has come a long way since its inception.
Ethereum Classic (ETC) is said to be the original Ethereum blockchain. It was in 2016 and is the result of a split in the Ethereum community.
Considering what is Ethereum Classic vs Ethereum, we need to pay attention to the growing popularity of ETC. Analyze the cons and the pros of investing in this cryptocurrency.
Pros of Investing in ETC
Knowing the benefits of investing in ETC is essential to making an informed decision about your investment. Although ETC is not so popular as ETH, it has several advantages.
Some of the more attractive aspects are:
- Payments and transactions are made without the need to rely on costly third parties or restrictive governments.
- Ethereum Classic is the original Ethereum. Because it’s an unchanged version of the blockchain, some crypto enthusiasts call it the original or genuine Ethereum. This strong belief in the platform’s immutability has led to creating a dedicated group of blockchain users and enthusiasts.
- ETC supports smart contracts and also decentralized applications. That way, it has widespread use across various industries.
- ETC is cheaper than ETH. But ETC is in the TOP-30 of the cryptocurrency rating by capitalization. In addition, since ETC is much cheaper than ETC, it is an ideal asset for newbies.
- He is trying to forge links with Ethereum.
Cons of Investing in ETC
Ethereum Classic (ETC) has some tempting advantages, and there are also disadvantages to consider before buying it.
Here are some of the risks of investing in ETH:
- Ethereum Classic (ETC) is not backward compatible with Ethereum.
- Ethereum Classic (ETC) is pretty dormant and has little interest from the community and developer activity. At the same time, the projects hosted on the platform are practically owned by Parity Technologies, which raises concerns about the centralization of the state of ETC.
- Ethereum Classic (ETC) is considered insecure. Various 51% attacks on Ethereum Classic (ETC) led to the level of trust plummeting. And this can lead to lower interest rates and prices for the token.
- Ethereum Classic (ETC) has a dubious image. Rumors about ETC fraud affecting coins negatively.
ETC can be a risky investment. But ETC will always be less popular than Ethereum.
Simply put, Ethereum Classic (ETC) is an investment with medium risk and many potential rewards.