Are you wondering what the difference is between Augur crypto and Bitcoin and which might be right for you? Read more here.
Personal Finance

Augur Crypto vs Bitcoin: Which To Buy

Are you looking to invest in cryptocurrency?

If so, you’ve likely looked at buying Bitcoin. Have you been obsessed with looking at the daily Bitcoin price? That makes sense, but have you considered looking at the Augur price as well?

Augur crypto is another alternative to popular cryptocurrencies such as Bitcoin. It hasn’t caught on yet, but many crypto speculators believe it might be the next big thing in crypto.

Let’s look deeper into Bitcoin vs Augur Crypto and which types of crypto will work best for you.

What Is Augur Crypto?

Augur is a new type of software that creates a prediction market using a network of global computers. Augur can get used for predictions which users can put wagers on.

Augur uses a cryptocurrency called REP. As of December 2021, the price of REP ranged between $17 to $18 per coin. Augur crypto runs on the Ethereum blockchain — which is thought of as the best competitor to Bitcoin.

If you want to build capital using crypto, you might want to consider the benefits of Augur. You should look into the easiest way to buy crypto to accumulate Augur.

What About Bitcoin?

So, is Bitcoin still a valid asset for cryptocurrency investors? Of all the different types of cryptocurrency, Bitcoin remains the most popular option.

Bitcoin is currently the most valuable cryptocurrency in fiat terms. If you bought 10 Bitcoins back in 2010, you would have likely paid around $100. Today, you can sell these 10 Bitcoins and make a six-figure profit!

But the fiat value of Bitcoin isn’t the only reason why you might wish to consider buying Bitcoin. Bitcoin is perhaps one of the best alternatives to the fiat currency system.

There can only be 21 million Bitcoins in circulation. This lets Bitcoin keep its store of value.

Many crypto investors like to buy Bitcoin to use as an alternative form of currency — in preparation for potential hyperinflation.

Augur’s History

Augur crypto was developed in 2015 by Jack Petersen and Joey Krug. They are former Ethereum developers. They decided to create this new software that would work on Ethereum’s blockchain.

The REP (Reputation Token) was launched in an ICO in 2015 as well. It’s a simple-to-use system and one that has become popular among crypto investors.

It’s not as popular as legacy cryptocurrencies such as Bitcoin, but it’s a formidable competitor to other types of crypto. If Augur crypto continues to grow in popularity, one can expect more projects to use Augur’s framework.

One can also expect the price of Augur crypto to rise in the coming years or even months.

As a crypto investor, you might wish to research how the platform works. This will give you an idea of whether this is a wise investment.

One of the concerns about Augur is that it works on the Ethereum blockchain.

Ethereum has received harsh criticism due to its high fees. However, other crypto investors see Ethereum as the future and a great competitor to Bitcoin. Ether is also the preferred crypto for digital investments such as NFTs. 

This works in Augur crypto favors. Regardless, one should take time with their research before making any crypto investment — as the market remains volatile.

Bitcoin’s History

Bitcoin was released in 2009 for the public to buy. Its ethos was outlined in a white paper written by its mysterious creator, Satoshi Nakamoto.

So far, many people see Bitcoin as an easy asset to accumulate and later sell for a large amount of fiat currency. However, many crypto investors see Bitcoin as the only answer to the absurd inflation rates of fiat currency.

There’s a fear that fiat currencies will crash. There’s a huge fear that the U.S. Dollar, the world’s reserve currency, will meet the same fate as the Yugoslav Dinar or Venezuelan Bolívar.

So how does one protect their wealth with this lingering inflation? The answer for many is to accumulate as much Bitcoin as possible. As Bitcoin continues to grow in popularity, one might see it get used as the preferred form of currency.

Rather than using your dollars to buy your groceries, you’ll use fractions of Bitcoin to use them. Bitcoin, to many, is the best option for an investment asset and a way to protect your purchasing power.

The main criticism of Bitcoin is that it also has high transaction fees. It’s often compared to Bitcoin Cash which has significantly lower transaction fees.

There are also concerns with the long duration that a Bitcoin transaction takes. You can send a small amount of Bitcoin to a friend in a matter of seconds. However, they might not receive the Bitcoin for several minutes.

Nevertheless, this hasn’t stopped Bitcoin’s popularity. While it’s seen some recent crashes in its market value, one can’t write off the likelihood of it bouncing back!

Crypto and Gambling

Cryptocurrency has become a popular asset for the online gambling industry. Bitcoin remains the best cryptocurrency for online casinos. Many online casinos only permit gambling with Bitcoin.

If online gambling is your interest, then you’ll want to stick to accumulating Bitcoin. 

But where does Augur crypto come into online gambling? Augur crypto might be the next best thing for capitalizing on your predictions. You’ll get to bet on almost anything from sports bets to election results.

As Augur crypto is currently more affordable, it might be the best cryptocurrency for placing such bets. This is especially great for those crypto investors who haven’t been able to accumulate lots of Bitcoin.

Augur Crypto or Bitcoin?

Now that you know the differences between Augur crypto and Bitcoin you can choose which is better for your investment needs.

Augur is an innovation in the cryptocurrency sphere that has no competition at present. This might make it a valuable investment for crypto investors.

Bitcoin has staying power and remains the most popular option for crypto investors. It’s also the ideal asset for finding an alternative to fiat currency. If you want to play it safe, you’ll want to add both cryptocurrencies to your portfolio.

You can find more articles on the types of cryptocurrency on our blog!

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