Cryptocurrency is the alternative digital currency which can be an alternative form of payment created using encryption algorithms. The cryptocurrency works both as a currency and a virtual accounting system (Ante in SSRN Electronic J 1:216–224, 2021). Bitcoin and Ethereum are types of cryptocurrencies and there are several points that are similar, and some points are different in the different stages. Bitcoin is the major alternative of traditional currencies and Ethereum is the programmable blockchain that finds application in several areas including DeFi, smart contracts, and NFTs. Alternate currencies have been introduced in recent times and different countries have started the use of these currencies and alternate currencies. There are several similarities between these currencies as well as differences in the different components of cryptocurrencies. This paper focuses on the different components of the similarities and differences between Bitcoin and Ethereum (Kushwaha et al. in IEEE Access 10:6605–6621, 2022). The Covid-19 pandemic has impacted the factors of Bitcoin and Ethereum and this research focuses on the diverse section of the impacts of the Covid-19 pandemic in the growth of cryptocurrency.