Bitcoin, Ethereum and Binance are now the top 3 crypto currencies and they have been making headlines for the past weeks breaking levels and setting new all time highs. Now every investor want to be involved into these 3 looking forward to make some bucks if the price keeps on surging. These 3 we can say they have different characters with different characteristics, they are unique from others in their own way.
I am going to do a breakdown on each of them and highlight theirs advantages , disadvantages and their possible future prospects in relation to price and rate of adoption.
Top down analysis
Bitcoin has was introduces in 2009 and its value was $0.02 per coin and people loved it more to fiat money because of independence and they could enjoy freedom of their own money without Feds on their backs trying to see and control how then spend their money.
You could just send you bitcoins anywhere anytime and any amount . Bitcoins is now also used by businesses as a method of payment.
The only disadvantage of Bitcoins is that its network is now heavily congested and it is now taking longer to confirm transactions and some are even going for more than a week unconfirmed which is bad for business.
As a result of that people now has to chose to pay higher transaction fees if they want their transactions to be confirmed fast e.g you pay $13 to send $90 we can see its costly. Bitcoin tend to be cheaper when its price is lo
Ethereum was later then founded in 2014 and its all time low is $0.46 cents. You can imagine someone who just spent $10 and bought 21 ethereum coins that person today has $54,300 and all this is a result of ethereum being widely adopted and offers more services as compared to bitcoin, Dapps, Smart contracts and ERC-20 tokens running on it own blockchain. .
Ethereum also share the same disadvantages of bitcoin, it is now expensive to transact with ethereum.
The only thing that differs from it is, It is fast to transact with but this will discourages investors and users and this may result in new players coming into effect and they will capitalize on its weakens.
Binance Coin was introduced in 2017 as an ERC-20 token but later on it swapped to BEP2 tokens. It has its own exchange platform and is now on the biggest which is its greatest strength and for that reason we can expect it to outperform ethereum.
The Binance network is cheap and transactions are confirmed faster, another thing it is cheap to transact with Binance as compared to Bitcoin and Ethereum. For this reason there are higher chances that Binance can be more adopted in the near future.
