Investing in the crypt verse has always been associated with the risks it comes with. However, due diligence needs to prevail before venturing into digital asset staking but first, a background check is recommended. Ethereum Classic (ETC) and Bitcoin Cash (BCH) are some of the big names in the blockchain industry and deciding which one to invest on depends on the investor goals and aspirations.
A close look at the current price performance for the two coins is a good indicator of where to get started. Ethereum Classic (ETC) is lowly priced and at reporting time, the coin was trading at $10.53 after shedding 8.02% in the last 24-hour trading session. Bitcoin Cash (BCH) has also dropped with almost the same margin of 8.89% to trade at $429.19.
With the price disparities and an almost similar price drop, investing on Ethereum Classic today offers a better value proposition to that of Bitcoin Cash. However, for the long term investment, taking a gamble with BCH makes more sense while ETC is the right coin to prospect. However, looking at each coin’s use cases makes you make better decisions.
Ethereum Classic and Bitcoin Cash Real Life Use Cases
Ethereum Classic focuses on the internet of things (IoT) with the goal of connecting the global devices to increase their efficiency. The system provides an immutable cover where account details cannot be altered without your direct consent.
Bitcoin Cash is an enabler that helps users send money anywhere across the globe with minimal fees. With the system, you have total control of your online funds and you can access them anywhere anytime as long as you have access to the internet.
These two use cases clearly act as a guide o where to put your digital assets. If you are the kind of person with business inclinations, BCH is what you need to invest in but if you are in the IoT sector ETC will come in handy.
Bitcoin Cash and Ethereum Classic Privacy Levels
Your financial privacy is very important and if that counts to your online wealth, Bitcoin Cash is the right coin for you. The system gives you full control of your address and it is not linked to your real identity. This offers the best option compared to your traditional banking systems and escrow services.
Ethereum Classic deploys smart contracts which it inherited from the mother blockchain, Ethereum and for the non0tech savvy crypto users; it is hard to trust smart contracts given their history on Ethereum. However, the ETC system is secure enough to deliver on its IoT niche and beyond. Ethereum Classic immutability has endeared many users since their records remain intact and cannot be edited by their parties.
Ethereum Classic and Bitcoin Cash Network
Ethereum Classic network activity surpasses that of Bitcoin Cash and to send it to the same level with that of Litecoin however, the two rivals have been working on their transactions capacities which let to their hard forks in the first place and they have been able to reach milestones.
Both platforms ride on the goodwill of their mother blockchains and they have been able to adopt sizeable communities backing them. However, Bitcoin Cash has gone a notch higher and the list of projects on the platform continues to rise. The current we accept BCH initiative and the OpenBazaar are set to increase adoption and BCH spend-ability.
Ethereum classic has taken a different route to market by getting listed on major exchanges for increased visibility and acquiring high profile and strategic partners to back the system up towards their value addition goals. With both platforms facing different audiences, investing on any of them will definitely be dictated by what each individual investor is looking for in a coin.