Saturday, July 13, 2024

And you may Conatct

                                                        Gmail: or +44 7923 117253

HomeBusinessCryptocurrencyBuying Ethereum in 2024: Advantages and challenges

Buying Ethereum in 2024: Advantages and challenges

If you’re wondering whether it is a good idea to buy Ethereum this year, you are not alone! Given the interest that this digital asset has sparked in the crypto world, it is not surprising that you are considering it as a potential investment. But it’s worth noting that Ethereum is not only a digital asset – it’s also a smart computer that enables the creation of smart contracts, which are trackable and irreversible. The capabilities of Ethereum have ushered in a new era of digital ownership and computer programming; however, despite its innovative nature, Ethereum is imperfect.

Therefore, the decision to buy Ethereum depends on whether you are willing to face all the challenges involved and find the resources to overcome them. Ethereum is indeed a good investment, but it may not be suitable for everyone. To help you make an informed decision, we’ve created this blog that highlights both the advantages and risks of buying Ethereum in 2024. Let’s dive in!

gold and black round emblem

Why it’s a good idea to buy Ethereum

Ethereum is still a relatively new asset, as it was launched in 2016. Over the years, eth price has gone through bull markets, proving to be incredibly profitable, so despite its bugs, it can still be a good idea to invest in it. Here are some reasons why:

  • It is a world computer. What makes Ethereum so appealing is that it can run smart contracts, allowing users to secure ownership of different items, whether luxury cars, homes or artwork, to name just a few. Therefore, people worldwide no longer have to deal with the bureaucracy involved in foreign nations’ systems – with smart contracts, the process becomes seamless. While the Internet has created an interconnected world, Ethereum has taken this interconnectivity to a whole new level for private individuals and businesses alike. Taking this aspect into account, it becomes evident that Ethereum is a good investment.
  • It enables tokenization. In a survey from WEF, it was said that 10% of the global GDP ( Gross Domestic Product) will be stored on blockchains by 2025-2027. This is an important fact to keep in mind because it highlights a world of tokenization. This clearly shows that Ethereum is valuable in many ways.
  • It runs uncensorable apps. Censorship is a problem in today’s world, with companies like Twitter, Instagram, Facebook, and so on having the right to manage content as they please, whether modifying, hiding, or deleting it. Thanks to Ethereum, the information stored on the blockchain will stay uncensorable for a long time – as long as Ethereum exists- ensuring no government or agency can shut it down. In other words, Ethereum means the end of censorship, so given this aspect, it makes even more sense to buy it.
  • It is a thriving innovation hub. Although Ethereum lost a significant part of its value in 2017, it still managed to survive. In fact, after the most significant challenges, it gained resilience and emerged as an even stronger asset and platform. New projects are developed on Ethereum, such as crypto collectibles, healthcare records, microgrids, home mortgages, and so on. For those who want to stay ahead of the curve and believe in sustainable energy production, buying Ethereum is a no-brainer.

What are the challenges you must be aware of when buying Ethereum

There are always two sides to a coin, so it wouldn’t be fair to say that Ethereum is an exception to the rule. It is not. And before you decide to buy Ethereum on a crypto exchange, make sure you understand what you’re getting yourself into. Here are some of the reasons why Ethereum may not suit you as an investment:

  • It is volatile. Volatility and cryptocurrency are inseparable, so it’s essential to be aware of the unpredictability even when it comes to Ethereum. The price of the asset can fluctuate widely in a short time, and while this can translate into massive rewards, it can also lead to losses often. So, before investing, you must assess your risk tolerance to determine whether you are okay with losing your money.
  • It has security risks. Despite its incredible capabilities, Ethereum isn’t without risks. The biggest threat to Ethereum occurred in May 2016, when a DAO raised $150M in ETH. However, the code wasn’t secure, and consequently, $70 million in ETH was lost at that time. Following this event, a hard fork happened to refund people who lost their money. Since then, Ethereum worked hard to enhance its smart contract code and boost its security. While no other significant security problems happened after that, there is always the possibility of a threat. So, it’s essential to be aware of these risks and take necessary steps to mitigate them.
  • It could be threatened by Ethereum killers. Although Ethereum was the first blockchain to enable smart contract development, it is no longer the only one doing it. Other exciting projects with similar capabilities have emerged as Ethereum’s rivals, and if they become better, faster, and stronger than Ethereum, that could create trouble, reducing the demand for ETH and, therefore, affecting its price. Now, it’s not guaranteed that this will happen, especially since Ethereum has a strong roadmap for the future. But it’s a possible scenario, and it’s important to take it into consideration when deciding whether or not to buy Ethereum.


Cryptocurrencies have raised great interest in recent years, so it’s no wonder that you’re debating whether to buy Ethereum. And perhaps you’ve been searching for an answer to everyone on the Internet, hoping for someone to tell you precisely what you should do. But here’s the thing: it’s only you who can decide whether Ethereum is a suitable investment for you. 

People are unique, and if someone thinks Ethereum is a good buy, it doesn’t make it true for you as well. Ultimately, the decision to buy Ethereum comes down to your financial situation, risk tolerance, and personal goals. So, take the time to reflect on these aspects before you dive into cryptocurrencies. Be aware of the risks and challenges that exist and decide whether it’s worth investing in Ethereum. If you believe in its potential to shine in the future, then sure, it makes sense to add it to your portfolio. Just remember that investing in crypto isn’t a piece of cake, and you will have to mitigate risk if you want to secure your funds. In the end, we hope your crypto journey will be a success.



Please enter your comment!
Please enter your name here

Most Popular

Recent Comments