Over the last month, Ether, the second most valuable cryptocurrency in the world, has gained roughly 50% in price as it approaches its all-time high once again. And while many cryptocurrencies have been rallying lately, Ether has been one of the top performers, causing many investors to wonder whether it is the best cryptocurrency to buy today.
After a slowdown in the crypto rally during the middle of the year, the entire cryptocurrency industry has been rallying quite significantly again.
Is Ether the best cryptocurrency to buy today?
There are a lot of reasons to be bullish on the revolution going on in cryptocurrency. And there are a lot of reasons to be bullish on Ether.
A tonne of innovation has gone on in cryptocurrency over the last few months, and the Ethereum network is as busy as ever.
With so many NFTs being created and changing hands, the Ethereum network continues to see a major tailwind from all the popularity in the sector.
Furthermore, the network has been improved recently, so investors are starting to see Ether rally again, and there’s little reason for it to slow down.
What’s most promising for investors is that it looks like a lot of this innovation has just gotten started. Soon, as the popularity continues to grow, you can expect a massive snowball effect of popularity hitting the industry, which is a major reason why I think Ether is easily the top cryptocurrency to buy today, especially if you’re investing for the long run.
So if you’re looking to gain exposure to Ether, here are two of the best ways for investors to consider.
How to gain exposure to Ether
There are a few ways to gain exposure to Ether for investors looking to cash in on this incredible revolution. If you are ever going to invest in other cryptocurrencies, buy NFTs or participate in decentralized finance projects, you’re going to have to buy Ether yourself.
This can be quite complicated and very expensive, especially if the Ethereum network is busy when you’re trying to buy.
If you’re an investor who just wants exposure to the best cryptocurrency to buy today, though, it’s a much easier investment for Canadians.
Your first option is to buy an ETF that gives you exposure directly to the price of Ether. It’s as if you own the Ether yourself. However, you don’t have to worry about buying it, transferring it to your wallet, or storing it. The fund does all this for you and for just a small management fee.
This is the lowest-cost, lowest-risk, and easiest way for investors to gain exposure to Ether, the top cryptocurrency to buy today.
However, many growth investors will prefer to buy a stock that has more growth potential. So if you’re interested in Ether but want more growth potential, buying a mining stock like HIVE Blockchain Technologies (TSXV:HIVE)(NASDAQ:HVBT) will be your best bet.
HIVE is a cryptocurrency company that mines Bitcoin and is one of the few companies that also mines Ether. This makes it one of the highest potential investments you can buy if you’re bullish on the potential that Ethereum network offers.
Not only is HIVE going to be leveraged to the price of Ether, but it also holds a number of the coins it already mined, as it continues to believe these will be worth more in the future.
So as the price of Ether rallies, not only does HIVE’s future earnings potential rise but so does the value of the assets it holds on the books.
So if you think Ether is one of the best cryptocurrencies to buy, I’d be looking to invest soon. These assets have the potential to rally rapidly, and investors have numerous choices on how they want to gain exposure.