Ethereum is a big change. The second largest crypto-currency changes its consensus to the Proof algorithm Proof-of-Work (PoW)-of-Stake (PoS). However, this is not the only major step for Ethereum awaits us in 2020. Fidelity Digital Assets is not planning to support, possibly from next year, to continue not only to Bitcoin, but to take Ethereum on Board.
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Ethereum (ETH) soon at Fidelity?
The President of Fidelity Digital Assets, Tom Jessop, has spoken in a recent Interview with The Block on ETH. On the question of whether Fidelity would soon support Ethereum, he replied that the company has already “done a lot of work in Ethereum”.Fidelity Digital Assets (FDA) was founded at the beginning of 2019, and offers institutional investors and traders with the custody and trading of crypto-currencies. Up to now, the company only supports Bitcoin. As a result, it was already increasing criticism that the company with other players in the market like Coinbase and BitGo competitive.
History of success plays an important role
Jessop said that the Lack of a track record one of the biggest obstacles for the institutional introduction of a certain crypto is currency. Since Bitcoin has the longest success, is the demand of the institutional investors is the highest here. Therefore, institutional investors have less interest in Ethereum. This is probably the reason why Fidelity Ethereum is not supported at the moment.Although Bitcoin is in comparison to Ethereum older, safer, and enjoys a much higher demand, but, nevertheless, there are also difficulties in terms of trust. Jessop said:
How do I know if I buy this thing, tomorrow there will be? What is the note on stability or durability I on the basis of the fact that the history of this asset is 10 years old?
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Even Bitcoin is still too young
He wants to say that institutional investors do not want to take unnecessary risk, and even Bitcoin is in many eyes still too young. This confidence is increasing with each passing day in the Bitcoin. Thus, the need still some time for people to give Bitcoin the confidence to invest for the long term, but also other crypto currencies such as Ethereum.For Ethereum, this development is quite positive. While we experience well-no big rush, if Fidelity should support Ethereum, but it is a step in the right direction. We can watch live as the infrastructure to not only improve Bitcoin of day-to-day is, but also to Ethereum.The impact of the Listing of Ethereum on Fidelity a positive effect on the rate? Are crypto-currencies at all so far?You look better Videos to read the article? Then look at our Youtube Channel over.(Image Source: Shutterstock)