Bitcoin (BTC) and Fantom (FTM) are two of the most popular cryptocurrencies in the cryptocurrency space. They both have unique characteristics, values, and drawbacks for investors, but you can call them “digital gold.” The question is, should you invest?
This blog post will compare and contrast these two digital currencies or crypto assets (currency). We will explore the history of each coin, its key features, investment, finite supply, volatility, trends, payments, and real-world applications.
History Of Each Project – Bitcoin (BTC) & Fantom
Bitcoin (BTC) is the original cryptocurrency, created in 2009 by developers under the name of Satoshi Nakamoto. Nobody knows if this was a person or a group. BTC is a decentralized digital currency that is not subject to government or financial institution control. As things stand, other cryptocurrencies don’t come close to or compete with BTC assets.
Bitcoin transactions are verified by a network of nodes and recorded in a publicly distributed ledger called a blockchain. They make sure there is a finite supply of 21 million in circulation.
Fantom, founded in 2018 by Dr.Anh Byung Ik, is a platform to provide scalable dapps and smart contracts for businesses and organizations.
Fantom (FTM) has unique characteristics involving a directed acyclic graph (DAG) technology. This allows for faster transaction processing than traditional blockchains. Fantom is also working on developing cross-chain compatibility with other blockchains.
What Each Coin Does & Why It Was Created
There are many different types of crypto, each with a unique purpose. Bitcoin, for example, was created as a peer-to-peer electronic cash system.
Fantom (FTM) aims to provide sustainable and scalable infrastructure for dapps and smart contracts.
Both Bitcoin BTC and Fantom use blockchain technology. This is a distributed ledger system allowing for secure, transparent, and tamper-proof transactions.
This makes this project an ideal solution for cryptocurrencies as it eliminates the need for third-party intermediaries.
Both digital projects were created to be decentralized. This means that there is no central authority controlling or regulating them. Instead, each network is powered by its users.
This decentralization gives cryptocurrencies many advantages, including increased security and censorship resistance.
Price History Of Bitcoin (BTC)
Since its inception in 2009, Bitcoin (BTC) has been on a rollercoaster ride with its prices. The early days of crypto saw very little price movement, as few buyers and sellers were in the market.
However, all that changed in 2013 with the first major Bitcoin rally. This was followed by a sharp price drop in 2014 and then another rally in 2016.
2017 was a particularly volatile year for this company, with prices reaching an all-time high of almost $20,000. The price soon came crashing back down, however, to below $4,000 by the end of the year.
2018 saw more stability, with prices hovering around the $6,000 mark for much of the year.
At the time of writing, Bitcoin has a value of $16,708.83. (November 2022)
Price History Of Fantom
In October 2019, the price of Fantom (FTM) was $0.006 USD.
The cryptocurrency reached its all-time high in March 2020, when it was trading at $0.04 USD.
However, the price of FTC has been on a steady decline since then and is currently trading at $0.182347 USD (At the time of writing this).
Market Cap Of Bitcoin
As of July 2019, Bitcoin’s market cap was over $100 billion. That was more than ten times the market cap of Fantom (FTM), which was just over $8 billion. Bitcoin’s dominance in the cryptocurrency market is undeniable, and its market cap is a reflection of that. The market cap is currently $318.38 billion at the time of writing this.
Market Cap Of Fantom
As of July 2020, the market capitalization of Fantom (FTM) was approximately $68 million USD. In contrast, the market capitalization of Bitcoin (BTC) was approximately $166 billion USD. Thus, while Fantom may be a relatively new entrant in crypto, it currently has a much smaller market cap than Bitcoin (BTC).
While Fantom has several features that could make it a viable competitor to Bitcoin, it currently has a very small market cap. The market cap is currently $464,286,829 at the time of writing this.
Main Similarities
- Both are crypto projects that aim to provide a decentralized digital currency for use on the internet.
- BTC and FTM both use blockchain technology to achieve this goal, and they both have their own native tokens that are used to transact within their respective ecosystems.
- BTC and FTM have grown rapidly in recent years. BTC has become one of the most well-known and valuable assets in the world, while FTM has emerged as a leading player in the smart contract space.
Main Differences
- BTC has a total circulating supply of 21 million, while Fantom (FTM) has a total circulating supply of 2.5 billion.
- Bitcoin’s limited supply makes it scarce and valuable, while Fantom’s high supply makes it less so.
- BTC is mined through a process of energy-intensive proof-of-work. Fantom is mined through a more efficient proof-of-stake algorithm.
- BTC can be used to purchase goods and services, while Fantom is primarily used for payments and settlements.
- BTC transactions are recorded on a public blockchain, while Fantom transactions are recorded on a private blockchain.
Risks Of Bitcoin
Market volatility:
Firstly, the price of Bitcoin is incredibly volatile and has been known to fluctuate rapidly. This means that if you’re not careful, you could end up losing a lot of money in a short space of time.
Hackers:
Bitcoin network could be hacked or taken down by governments. This would have a huge impact on Bitcoin’s value and could lead to massive losses for investors. It’s worth noting that investing in any cryptocurrency is a risky proposition. You should always do your own research before investing any money.
Risks Of Fantom (FTM)
Lack of adoption:
It is relatively new and it has not been widely adopted by businesses or users. This lack of adoption means that there is less demand for the currency, which could lead to prices falling.
Market volatility:
Cryptocurrencies are notoriously volatile, and Fantom is no different. Prices can fluctuate wildly, making it difficult to predict how much your investment will be worth in the future.
Security risks:
It’s vulnerable to hacks and security breaches like all cryptocurrencies. If you store your coins on an exchange or online wallet, there is a risk that they could be stolen by hackers.
Regulatory uncertainty:
The regulatory environment around cryptocurrencies is constantly changing, and it is unclear how it will be affected by future regulation.
Where You Can Buy Bitcoin BTC
BTC can be bought on many different exchanges and websites, so it’s easy to invest in it and start making profits. Some popular ones are Coinbase, Binance, and Kraken. You can also buy BTC through a peer-to-peer exchange like LocalBitcoins. There are also ATMs where you can buy BTC. Investors should take a look at the transaction fees etc. Trade at your own risk.
Where You Can Buy Fantom (FTM Tokens)
If you’re looking to invest in Fantom, you can do so on a variety of exchanges. Some of the most popular exchanges that offer Fantom include Binance, HTX Global, and OKEx. However, it’s important to note that not all exchanges offer Fantom trading pairs.
How You Can Exchange One For The Other (Crypto Assets)
There are a few different ways to exchange BTC for FTM. One way is to find someone who is willing to trade their FTM for BTC. This can be done by searching online forums or social media groups dedicated to cryptocurrency trading.
Another way is for users to use a cryptocurrency exchange that supports both BTC and FTM. Once you have found an exchange that supports your desired pairing, you will need to create an account and deposit BTC into your account. Once your BTC has been deposited, you will be able to place an order to trade your BTC for FTM.
Future Plans For Bitcoin
Looking ahead to 2023, there is no telling how high Bitcoin’s price/value could go for investors. With more and more people investing in this cryptocurrency, it seems likely that its value will continue to rise. As such, 2023 could be another breakout year for Bitcoin.
Future Plans For Fantom (FTM)
The Fantom Foundation has big plans for the future, and they’re already well underway. By 2023, they’re aiming for a fully functioning mainnet to support millions of transactions per second.
Fantom wants to build partnerships with other companies and organizations to help them achieve their goals. It’s an ambitious plan, but if anyone can pull it off, it’s the team at Fantom.
FAQs
Is Fantom a Bitcoin?
No, Fantom is not a Bitcoin. Fantom is its own cryptocurrency that uses a directed acyclic graph (DAG) technology.
Does Fantom crypto have a future?
Fantom (FTM) is a unique crypto asset with a lot of potential for investors. While it is still early days for the project, the team behind Fantom is extremely talented and has a strong vision for the future.
Is Fantom a good crypto to buy now?
Investors should know they have a strong team of developers behind it with a lot of experience in the industry. Fantom is one of the few cryptos that is actually being used in the real world – it’s not just a speculative investment.
References:
https://crypto.com/price/bitcoin
https://en.wikipedia.org/wiki/Bitcoin
https://messari.io/asset/fantom/profile
https://www.bankrate.com/investing/what-is-bitcoin-mining/
https://cointelegraph.com/blockchain-for-beginners/fantom-ftm-ecosystem
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