If you are asking “is ethereum a good buy?”, the useful answer is not “yes, because it used to be lower” or “no, because it is already expensive.”
The better question is:
Will people, apps, institutions, stablecoins, rollups, and traders keep paying for Ethereum’s blockspace and settlement guarantees?
That is the investment case. Not nostalgia. Not a chart from the last bull market. Not the hope that ETH “must” return to a previous all-time high.
Ethereum is best understood as a scarce digital asset tied to demand for a global execution and settlement network. ETH is used to pay gas, secure the network through staking, compensate validators, and absorb part of transaction fee demand through EIP-1559 fee burning. That does not make ETH a stock, and it does not give holders a legal claim on revenue. But it does mean ETH has a clearer demand model than many crypto assets.
The case can be strong.
It can also be wrong.
Is Ethereum a good buy if you evaluate it as blockspace demand, not price nostalgia?
Ethereum can be a good buy for investors who believe three things will remain true over a multi-year period:
- High-value crypto activity will continue to need credible settlement.
- Ethereum will remain one of the most trusted settlement layers for that activity.
- ETH will continue to capture some of that demand through gas, staking, and fee burn.
That is a different thesis from “ETH went up before.”
A nostalgia thesis depends on market memory. A blockspace thesis depends on usage.
What “blockspace demand” actually means
Blockspace is the limited capacity inside a blockchain block. Users compete for it when they want transactions included, ordered, and finalized.
On Ethereum, that demand comes from activities such as:
- Moving ETH, stablecoins, and tokens
- Swapping on decentralized exchanges
- Minting or transferring NFTs
- Using lending markets
- Settling Layer 2 rollup data
- Liquidating DeFi positions
- Arbitrage and MEV-related transactions
- Institutional custody, tokenization, and settlement workflows
When demand rises, users pay more for inclusion. Since EIP-1559, a portion of Ethereum transaction fees is burned, reducing ETH supply. Validators also receive priority fees and MEV-related rewards.
The simplified model looks like this:
| Source of demand | Why it matters for ETH |
|---|---|
| Users paying gas | ETH is required for transaction execution |
| Applications using Ethereum | More activity can increase fee demand |
| Rollups settling to Ethereum | L2s use Ethereum for security and data availability |
| Validators staking ETH | Staking reduces liquid supply and secures the network |
| Fee burn | High base fees can offset or exceed issuance |
| MEV and priority fees | Validators earn additional rewards from ordering demand |
This does not guarantee price appreciation. Crypto markets can price assets far above or below fundamentals for long periods. But it gives ETH a more concrete demand story than many tokens whose value depends mainly on incentives, governance narratives, or speculation.
What makes Ethereum different from Bitcoin, Solana, and Layer 2 tokens?
Ethereum is not trying to be only digital gold, only a high-speed chain, or only an app token. Its role is closer to a settlement layer for decentralized finance, stablecoins, tokenized assets, and rollups.
That position creates both opportunity and confusion.
ETH vs BTC vs SOL vs L2 tokens
| Asset type | Main investment thesis | Fee demand link | Liquidity | Main risk | Best fit for |
|---|---|---|---|---|---|
| ETH | Settlement asset for smart contracts, DeFi, stablecoins, and L2s | Strong but variable | Very high | Competition, regulation, scaling value leakage | Investors who want exposure to crypto infrastructure demand |
| BTC | Scarce monetary asset and store-of-value narrative | Weaker outside transfers | Highest | Limited native programmability, reliance on monetary premium | Investors prioritizing simplicity and monetary scarcity |
| SOL | High-throughput integrated chain | Direct and growing | High | Outages/history, validator concentration concerns, competition | Investors betting on fast consumer-scale crypto apps |
| L2 tokens | Growth of specific rollup ecosystems | Often indirect or weak | Varies | Token value capture may be unclear | Investors who can analyze individual ecosystems |
| DeFi tokens | Protocol-specific cash flows, governance, or incentives | Protocol-dependent | Varies widely | Governance, hacks, fee switches, regulation | Higher-risk investors seeking app-level exposure |
Ethereum’s strongest advantage is not raw speed. Solana and some newer chains can be cheaper and faster for simple transactions.
Ethereum’s advantage is the combination of:
- Deep liquidity
- Long operating history
- Mature developer tooling
- Large validator set
- Major DeFi infrastructure
- Stablecoin settlement
- Rollup ecosystem
- Institutional recognition
- Credible neutrality relative to most app-specific chains
That mix is difficult to copy quickly.
But it is not invincible.
How does ETH capture value from Ethereum usage?
ETH captures value through several mechanisms, but none should be exaggerated.
1. Gas demand
Every Ethereum transaction requires gas paid in ETH. This creates direct utility demand.
If users want to move assets, interact with smart contracts, or settle transactions on Ethereum mainnet, they need ETH.
The catch: many users now interact through Layer 2 networks where fees are much lower. That can reduce direct mainnet gas payments from retail users, although rollups still rely on Ethereum for settlement and data availability.
2. Fee burn through EIP-1559
Ethereum’s EIP-1559 upgrade introduced a base fee that is burned. During periods of high activity, more ETH can be burned.
This is why people sometimes call ETH “ultrasound money.” The phrase is catchy, but it can mislead investors.
ETH is not permanently deflationary under all conditions. Supply depends on issuance, staking participation, fee burn, and network activity. In low-fee periods, ETH supply can increase.
A better way to think about it:
Ethereum’s supply is activity-sensitive.
That is more accurate than saying ETH is always deflationary.
3. Staking demand
After the Merge, Ethereum shifted to proof of stake. ETH holders can stake to help secure the network and earn protocol rewards.
Staking matters because it:
- Creates a yield-like return in ETH terms
- Reduces circulating liquid ETH when tokens are staked
- Aligns validators with network security
- Makes ETH more productive than a purely idle asset
But staking is not risk-free. Validators can face slashing, liquidity constraints, smart contract risk through liquid staking protocols, and opportunity cost if ETH price falls.
4. Monetary premium
ETH also has a monetary asset component. It is used as collateral, a reserve asset in DeFi, and a base pair across crypto markets.
This premium is harder to model. It depends on trust, liquidity, market structure, and reflexivity.
The mistake is treating monetary premium as the whole thesis. It is only one layer.
What real-world activity supports the Ethereum investment case?
The best ETH thesis begins with actual use cases, not slogans.
Stablecoins
Stablecoins such as USDC and USDT are among the most important crypto use cases. They move across several chains, but Ethereum remains a major settlement venue, especially for high-value transfers and DeFi liquidity.
Stablecoin activity matters because it represents non-speculative demand more often than memecoin trading does. Businesses, traders, remittance users, market makers, and DeFi protocols all rely on stablecoins.
If stablecoin settlement continues growing on public blockchains, Ethereum benefits if it remains a trusted settlement layer.
DeFi liquidity
Ethereum still hosts some of the deepest DeFi liquidity in crypto. Protocols like Uniswap, Aave, MakerDAO/Sky, Curve, and Lido helped define categories that later spread to other chains.
Liquidity creates a moat.
A trader swapping $100 may care mostly about fees. A trader swapping $10,000, $1 million, or more cares about:
- Slippage
- Routing quality
- Market depth
- Execution certainty
- Counterparty risk
- Bridge risk
- Settlement finality
That is where Ethereum’s liquidity depth can matter more than headline transaction cost.
Rollups and Layer 2 settlement
Ethereum’s scaling roadmap increasingly relies on Layer 2 networks such as Arbitrum, Optimism, Base, zkSync, Starknet, and others.
This changes the ETH thesis.
Instead of every user paying mainnet fees directly, many users transact on L2s. Rollups batch transactions and post data or proofs back to Ethereum.
That can reduce fees per user while increasing aggregate activity. The unresolved question is how much of that activity value accrues to ETH versus L2 operators, sequencers, apps, and token holders.
This is one of the most important debates for Ethereum investors.
What are the strongest arguments for buying Ethereum?
The bullish case is credible when it is based on network demand, not historical price anchoring.
Ethereum has durable developer and liquidity advantages
Developers build where users, tools, infrastructure, and capital already exist. Ethereum has all four.
That matters because blockchain ecosystems are not just code. They are networks of:
- Wallets
- RPC providers
- Indexers
- Auditors
- Exchanges
- Custodians
- Developers
- Liquidity providers
- Market makers
- Institutions
- Open-source standards
ERC-20, ERC-721, Solidity, MetaMask support, EVM compatibility, and DeFi composability all strengthened Ethereum’s network effects.
Competitors can beat Ethereum on cost or speed. Beating the full ecosystem is harder.
Ethereum is becoming settlement infrastructure, not only an app chain
The most interesting Ethereum bull case is not that everyone will use Ethereum mainnet for every transaction. That is unlikely.
The stronger version is that Ethereum becomes the high-value settlement and security layer for many cheaper execution environments.
In that world:
- Retail users transact on L2s
- Apps optimize for lower fees
- Rollups settle back to Ethereum
- ETH remains the asset securing the base layer
- Mainnet is used for high-value DeFi, settlement, custody, and finality
This is closer to how financial infrastructure works in the real world. Not every transaction settles directly at the highest-value layer.
ETH has better value-capture mechanics than most tokens
Many crypto tokens struggle to explain why they should be worth anything. Governance alone rarely creates durable value. Incentives can attract mercenary capital. Fee switches may never activate.
ETH has a more direct role:
- Needed for gas
- Needed for staking
- Burned through base fees
- Used as collateral
- Held as a reserve asset
- Integrated across DeFi
That does not make ETH automatically cheap. It does make the asset easier to analyze.
What are the strongest arguments against buying Ethereum?
A serious ETH analysis has to include the bear case.
Layer 2 scaling may reduce mainnet fee revenue
Ethereum’s rollup roadmap can succeed for users while creating a harder valuation question for ETH holders.
If activity migrates to L2s and mainnet fees stay low, ETH burn may fall. If L2s capture user relationships, sequencer revenue, and application value, ETH may capture less than bulls expect.
This does not destroy the ETH thesis. But it changes it.
Investors should watch whether L2 growth translates into meaningful Ethereum settlement demand.
Solana and other chains may win more consumer activity
Ethereum’s modular approach is not the only path.
Solana’s integrated design offers fast and cheap execution on one shared chain. For some use cases — consumer apps, games, memecoin trading, low-value payments — that can feel simpler than bridging between L2s.
If the next major wave of crypto adoption happens mostly on non-Ethereum chains, ETH could underperform even if Ethereum remains important.
Regulatory risk is real
ETH’s regulatory status has been debated for years. Spot ETH ETFs in the United States improved institutional access, but regulation remains a live risk for staking, DeFi front ends, stablecoins, privacy tools, and wallet infrastructure.
Regulatory pressure does not need to “ban Ethereum” to affect ETH price. It can reduce liquidity, limit staking products, pressure DeFi protocols, or discourage institutions.
Ethereum is complex
Bitcoin’s story is simple: fixed supply, decentralized money.
Ethereum’s story is more complex: smart contracts, staking, burn, L2s, MEV, rollups, data availability, DeFi, stablecoins, restaking, governance norms.
Complex systems can be powerful. They can also create new failure modes.
Investors should not buy ETH simply because it sounds sophisticated.
How should you decide if Ethereum fits your portfolio?
The right answer depends less on ETH itself and more on your risk tolerance, time horizon, and reason for buying.
A practical ETH decision framework
| Question | Why it matters | If your answer is “no” |
|---|---|---|
| Can you hold through 50%+ drawdowns? | ETH has historically been volatile | Position size is too large |
| Do you understand the blockspace thesis? | You need a reason beyond price memory | Do more research before buying |
| Is your time horizon multi-year? | Adoption and scaling play out slowly | Trading may suit you better than investing |
| Are you diversified? | ETH can underperform for long periods | Avoid making ETH your entire crypto allocation |
| Can you custody safely? | Wallet mistakes are irreversible | Use simpler custody until ready |
| Will you monitor fundamentals, not only price? | Usage matters to the thesis | You may be buying narrative, not evidence |
A simple rule: if a 40% drop would force you to sell in panic, you bought too much.
Investor profiles
| Investor type | ETH may make sense if… | ETH may not make sense if… |
|---|---|---|
| Long-term crypto believer | You want exposure to smart contract infrastructure | You only want the simplest monetary asset |
| DeFi user | You already understand Ethereum’s role in liquidity | You underestimate smart contract and wallet risk |
| Conservative investor | You keep allocation small and diversified | You need stable cash flow or capital preservation |
| Active trader | You can manage volatility and liquidity | You confuse short-term momentum with thesis |
| Beginner | You start small and learn custody carefully | You chase ETH because social media is bullish |
What price metrics matter more than “ETH is down from its high”?
Price alone tells you almost nothing.
A better ETH buying process compares price to usage, fees, liquidity, and supply dynamics.
Metrics worth watching
| Metric | What it tells you | Why it matters |
|---|---|---|
| Ethereum transaction fees | Demand for mainnet blockspace | Higher fees can increase ETH burn |
| ETH burn vs issuance | Net supply pressure | Shows whether ETH is inflationary or deflationary in a period |
| Active addresses and transactions | Network usage | Useful, but can be noisy |
| L2 transaction activity | Scaling adoption | Shows whether users are moving to Ethereum-aligned execution |
| Rollup costs paid to Ethereum | L2 settlement demand | More relevant than L2 hype alone |
| Stablecoin supply on Ethereum | Settlement and liquidity demand | Indicates real financial usage |
| DEX volume and liquidity depth | DeFi health | Supports ETH’s role as collateral and settlement asset |
| Total value locked | DeFi capital base | Helpful, but influenced by token prices |
| Validator participation | Security and staking demand | Too much or too little staking can affect economics |
| MEV activity | Demand for transaction ordering | Can support validator rewards but create user harm |
No single metric gives the answer. ETH is best evaluated as a bundle of signals.
A better buying question
Instead of asking:
Is ETH below its all-time high?
Ask:
Is ETH priced attractively relative to Ethereum’s current and likely future demand for settlement, liquidity, and security?
That question is harder. It is also much more useful.
How do fees, liquidity, and execution affect the ETH thesis in practice?
Ethereum’s value is easier to understand when you look at actual user behavior.
Scenario 1: A user swapping $100 USDT
A user swapping $100 of USDT on Ethereum mainnet during high gas conditions may find the transaction uneconomical. If gas costs $15–$40, the fee can exceed any reasonable benefit.
That user will likely prefer:
- A Layer 2 network
- A centralized exchange
- A cheaper chain
- Waiting for lower gas
For small transactions, Ethereum mainnet is often not the best user experience.
That does not mean ETH has no value. It means Ethereum mainnet is increasingly optimized for higher-value settlement, while smaller users move to L2s.
Scenario 2: A trader swapping $10,000
A $10,000 swap changes the calculation.
The trader cares about both gas and execution quality. Paying $20 in gas may be acceptable if Ethereum liquidity reduces slippage by 0.3% compared with a thinner market elsewhere. On $10,000, 0.3% is $30.
For larger trades, deep liquidity can matter more than low gas.
Platforms such as switchfi.app automatically compare multiple liquidity sources before selecting an execution route, which illustrates why execution quality is not just about the displayed network fee.
Scenario 3: A cross-chain transfer
A user moving assets from Ethereum to an L2 or another chain faces more than a fee decision.
They must consider:
- Bridge security
- Finality time
- Liquidity availability
- Destination-chain gas token
- Slippage
- Smart contract risk
- Withdrawal delays
- Whether the asset is canonical or wrapped
A cheap bridge is not always the safest bridge. A fast route is not always the best route.
That is why Ethereum’s settlement reputation matters. For high-value transfers, users often pay more for stronger security assumptions.
How does Ethereum compare across execution environments?
The best chain depends on what the user is doing. ETH investors should understand where Ethereum is strong and where it is not.
| Use case | Ethereum mainnet | Ethereum L2s | Solana / other high-throughput L1s | Centralized exchanges |
|---|---|---|---|---|
| $100 token swap | Often expensive | Usually better | Usually cheap | Very easy |
| $10,000 DeFi trade | Strong liquidity, higher gas | Good if liquidity is deep | Can be good, depends on market | Strong liquidity, custodial |
| Long-term cold storage | Strong security history | Less common | Depends on chain | Custody risk |
| Stablecoin settlement | Strong for high-value transfers | Strong for lower-cost transfers | Growing | Fast but centralized |
| NFT minting | Expensive during congestion | Better fees | Often cheaper | Not native DeFi settlement |
| Institutional DeFi | Deepest infrastructure | Growing | Less mature in some areas | Compliance-friendly but custodial |
| Cross-chain movement | Secure base layer, bridge costs | Cheaper but fragmented | Fast, separate ecosystem | Simple but off-chain |
Ethereum does not need to be best for every use case to be valuable. It needs to remain important for high-value settlement and liquidity.
What are the main pros and cons of buying Ethereum?
Pros
| Advantage | Why it matters |
|---|---|
| Large developer ecosystem | More apps, tooling, audits, and infrastructure |
| Deep DeFi liquidity | Supports trading, lending, collateral, and stablecoin activity |
| ETH has clear utility | Gas, staking, collateral, and fee burn |
| Strong institutional recognition | Easier access through regulated products and custody |
| Layer 2 ecosystem | Scaling path without abandoning Ethereum security |
| Long operating history | More battle-tested than newer smart contract platforms |
Cons
| Risk | Why it matters |
|---|---|
| High volatility | ETH can fall sharply even when fundamentals improve |
| Scaling value capture uncertainty | L2 growth may not fully benefit ETH price |
| Competition | Faster or cheaper chains can attract users and developers |
| Regulatory pressure | Staking, DeFi, and stablecoins may face restrictions |
| Smart contract and MEV risks | User experience and trust can suffer |
| Complexity | Harder for investors to model than Bitcoin |
What are expert tips for buying ETH without relying on hype?
Use a thesis before using a price target
A price target without a thesis is just a number.
Write down why you are buying ETH. For example:
“I am buying ETH because I believe Ethereum will remain the leading settlement layer for DeFi, stablecoins, and rollups over the next five years.”
Then list what would prove you wrong.
Possible invalidation signals:
- Ethereum loses meaningful DeFi liquidity share
- L2s stop settling significant value to Ethereum
- Stablecoin activity migrates away permanently
- Regulatory restrictions reduce institutional access
- ETH value capture weakens despite high ecosystem activity
This prevents emotional holding.
Separate investing from using Ethereum
Using Ethereum does not automatically mean ETH is a good investment at any price.
A network can be useful while its token is overvalued. A token can rise while usage is weak. Markets are not clean.
Buy ETH only if the expected return justifies the risk.
Consider dollar-cost averaging
Because ETH is volatile, many long-term investors prefer dollar-cost averaging instead of trying to pick a perfect entry.
This reduces timing risk but does not remove valuation risk. Buying every week at inflated prices is still buying at inflated prices.
DCA works best when paired with a maximum allocation and a clear thesis.
Think in portfolio percentages
“Should I buy Ethereum?” is vague.
Better:
- Should ETH be 1% of my portfolio?
- 5%?
- 10%?
- Part of a broader crypto basket?
- My only crypto asset?
Position sizing is risk management. A good asset can still be a bad buy if the position is too large.
What mistakes do investors make when deciding whether Ethereum is a good buy?
Mistake 1: Buying because ETH used to be higher
Previous highs are not fair value. They are historical trades.
A return to an old high requires future buyers, liquidity, and a convincing reason for repricing.
Mistake 2: Ignoring Layer 2 economics
Many ETH bulls talk about L2 adoption but do not ask how much value flows back to ETH.
Watch settlement costs, blob fee markets, rollup profitability, and whether users remain Ethereum-aligned.
Mistake 3: Treating staking yield like bond yield
ETH staking rewards are paid in ETH and come with ETH price risk. A 3% staking return does not help much if ETH falls 40%.
Staking yield can improve long-term accumulation, but it is not a substitute for risk analysis.
Mistake 4: Confusing TVL with real demand
Total value locked can rise because token prices rise. It can also move because incentives attract temporary capital.
Look for durable usage: fees, volumes, stablecoin settlement, active borrowers, liquidity depth, and recurring demand.
Mistake 5: Keeping ETH on autopilot
Ethereum changes. Fee markets, L2 adoption, staking participation, regulation, and competitors all affect the thesis.
Long-term investing does not mean never checking whether the facts changed.
What should you check before buying Ethereum?
Use this checklist before making a decision.
- I understand ETH’s role in gas, staking, collateral, and fee burn.
- I am not buying only because ETH is below a previous high.
- I can tolerate large drawdowns.
- I know how much of my portfolio I am willing to risk.
- I understand the difference between Ethereum mainnet and L2s.
- I have considered BTC, SOL, L2 tokens, and stablecoins as alternatives.
- I know where I will custody my ETH.
- I understand staking risks if I plan to stake.
- I have a thesis and an invalidation point.
- I am using current data, not outdated bull-market assumptions.
What are the key takeaways?
- Ethereum can be a good buy, but the strongest case is based on future demand for blockspace and settlement, not old price highs.
- ETH has clearer value-capture mechanics than most crypto tokens: gas, staking, fee burn, collateral use, and monetary premium.
- Layer 2 growth is both bullish and complicated. It can expand Ethereum’s reach while reducing direct mainnet fee pressure.
- Ethereum’s main risks are competition, regulation, L2 value leakage, volatility, and complexity.
- The best investors monitor usage metrics, not only price charts.
- ETH is more attractive for long-term investors who understand the network’s role and can size the position responsibly.
FAQ: What do investors usually ask before buying Ethereum?
Is Ethereum a good buy right now?
Ethereum may be a good buy if you believe demand for Ethereum settlement, DeFi liquidity, stablecoins, and Layer 2 activity will grow over several years. It is less attractive if you are buying only because the price is below a previous high or because social media is bullish.
The right answer depends on valuation, portfolio size, time horizon, and risk tolerance.
Is ETH better than Bitcoin?
ETH and BTC serve different investment roles.
Bitcoin is simpler: scarce digital money with a strong store-of-value narrative. Ethereum is more complex: a programmable settlement network with staking, gas demand, DeFi, stablecoins, and L2s.
BTC may suit investors who want monetary scarcity. ETH may suit investors who want exposure to smart contract infrastructure.
Can Ethereum reach a new all-time high?
It can, but a previous high does not guarantee a future high. ETH would likely need a combination of stronger crypto market liquidity, growing Ethereum usage, healthy fee demand, institutional flows, and confidence in the L2 roadmap.
Price targets should be tied to assumptions, not hope.
Does Ethereum still have high gas fees?
Ethereum mainnet can still become expensive during congestion. Layer 2 networks are designed to reduce transaction costs while using Ethereum for settlement.
For small transactions, L2s are often more practical. For high-value DeFi activity, Ethereum mainnet can still be worth using because of liquidity and security.
Is Ethereum deflationary?
Sometimes. ETH supply depends on issuance and fee burn. During high network activity, burned fees can exceed new issuance. During low-fee periods, supply can increase.
Calling ETH permanently deflationary is too simplistic.
Is staking ETH worth it?
Staking can make sense for long-term holders who understand the risks. It provides ETH-denominated rewards and helps secure the network.
Risks include slashing, validator mistakes, smart contract risk if using liquid staking, liquidity constraints, tax complexity, and ETH price volatility.
What would make Ethereum a bad investment?
Ethereum’s investment case weakens if major activity migrates away, L2s fail to create meaningful value for Ethereum, regulation limits DeFi and staking, competitors capture the most valuable use cases, or ETH becomes expensive relative to actual network demand.
Should beginners buy Ethereum?
Beginners can consider ETH as part of a diversified crypto allocation, but they should start small, learn wallet safety, avoid leverage, and understand that ETH can decline sharply.
Buying ETH without understanding custody and volatility is one of the easiest ways to make expensive mistakes.
Is Ethereum safer than other altcoins?
Ethereum is generally more established and liquid than most altcoins, with a longer operating history and deeper infrastructure. That does not make it safe in the traditional sense.
ETH remains a volatile crypto asset with market, regulatory, technical, and competitive risks.
Should I buy ETH or an Ethereum Layer 2 token?
ETH and L2 tokens have different value-capture profiles.
ETH is the base asset for Ethereum security, gas, staking, and settlement. L2 tokens may offer exposure to specific ecosystems, but their value capture can be less direct and more dependent on governance, sequencer economics, incentives, and token design.
Many investors find ETH easier to underwrite than individual L2 tokens.
What is the final verdict on Ethereum as a buy?
Ethereum can be a good buy if you are underwriting it as infrastructure for crypto settlement, liquidity, stablecoins, and rollups.
That is the serious case.
The weaker case is buying ETH because it once traded higher, because a chart looks familiar, or because every bull market needs a second act. Those arguments may work during speculative periods, but they are not durable.
The central question is not whether Ethereum was important in the past. It was.
The question is whether Ethereum will keep being one of the places where high-value crypto activity chooses to settle.
If your answer is yes, ETH deserves consideration. If your answer is no — or if you cannot explain why ETH captures value from that activity — it is better to wait, learn, or choose a simpler asset.