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Ethereum: If I convert my US Dollars to Bitcoins, will its value likely depreciate? [closed]
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Ethereum Dilemma: Converting dollars to bitcoins will eliminate its value?
Ethereum, one of the largest and most widely used blockchain platforms, has been an investor’s favorite in recent years. The value of the cryptocurrency ranged extremely, so it was a high -Sk investment for those seeking proices from their price changes. One of the most common questions about Ethereum is whether converting us dollars to bitcoins (BTC) will cause depreciation of its value.
Basics
Ethereum is an open source, a decentralized platform that allows intellectual contracts and decentralized programs (DAPS). Cryptocurrency 2014 created by vitalik butterin as a way to face to face relying on mediators. The value of Ethereum is not directly related to Traditional Currencies such as USD or Eur.
Currency Exchange Effect
When However, the relationship between two currencies is complex and affected by a variety of factors, including Economic Conditions, Interest Rates, Inflating Rate and Exchange Exchange Rates.
Theoretically, if the value of Bitcoin is significantly overthrown, it would affect the price of Ethereum. The BTC decrease can be reduced by eth as investors seek safer asylums or alternative assets. However, Bitcoin and Ethereum are not simple. Both cryptocurrencies are related to each other through their basic technology.
BTC and ETH Relations
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Ethereum and Bitcoin have some similarities such as:
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Bitcoin and Ethereum:
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Risk of Speculation
Converting us $ to bitcoins in the hope of making a profit later This approach
ALTHOUGH INVESTORS can make money in the Bitcoin and Ethereum, the risk is significant. Market volatility, changes in regulatory and changes in investors’ attitudes can affect cryptocurrency prices.
Conclusion
. Although the BTC and Eth may affect market force, main technologies and cases of these cryptocurrencies are different.
Understand the Risk and Consider:
- Understand the taxes : know the operation fees associated with us dollar conversion to bitcoins.
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