The Bitcoin and Ethereum ecosystem consists of:
Bitcoin: This is the original cryptocurrency that was created via a network of computers in 2009. Bitcoin can be utilized as a mode of payment, for trading for different commodities, and also as an investment vehicle. Currently, Bitcoin is accepted by countless retailers including Microsoft, Subway and even local UK supermarkets like Tesco. The number of retailers accepting Bitcoin has grown exponentially over the last few years to become an enterprise system not just used by tech-savvy hipsters but by many regular people world wide. For more info see our article about how you can buy bitcoin & ethereum with paypal here). Remember if you are using Paypal you will have to first open an account at Coinbase or other crypto exchange then once your account is verified move your funds into your new exchange wallet etc.. If you are interested in mining bitcoins there are several guides on how to do so safely here.
Ethereum: this altcoin was initially called “Lite Coin” before being renamed for its features between 2016 – 2017 (we still call it lite coin). It was one of the first blockchains to use smart contracts which enables users to customize its code according to their requirements without worrying about miners/validators invalidating the changes made to it. Ethereum enables developers working on decentralised applications (similar to blockchain based apps) through its blockchain framework known as the Ethereum Virtual Machine (EVM), known popularly as “Gas”