“Reminder: Cryptocurrencies is still a new and hyper-volatile asset class, and could at all times fall to almost zero,” he wrote on Twitter.
“Do not put more money than you can afford to lose.” If you try to figure out where to save your life savings, traditional assets are still your safest bet, “he added.
Buterin’s message came as a fraudster who had imitated him on Twitter promoted the kryptocurrency offer. In response, Buterin has warned its followers in several tweets, not relying on anyone asking or making money on Twitter.
Unlike other active characters in the crypto area, Buterin does not often mention how his invention will change the financial system, despite the fact that Ethereum is now the second largest crypto currency with the total market value next to Bitcoin.
In fact, Ethereum was created for a totally different purpose than Bitcoin.
While Bitcoin is a currency designed to replace the issued currencies, Ethereum is just a token based on a decentralized platform that provides “smart contracts.” Technology is most used for the protection of intellectual property for content creators.