- Description and information about Crypto Currency Ethereum
- Where and how to start investing in Ethereum Crypto Currency?
- Reviews for Ethereum Crypto Currency. What do they write in the forum and in the press?
- Where and how to buy Ethereum? What Stock Exchange will be the best?
- Where to check the Ethereum (ETH) exchange rate. Reliable sources
The trend for investing in cryptocurrencies continues. While most people focus on Bitcoin’s record-breaking popularity, it is also worth exploring and considering alternative options. Among them is undoubtedly Ethereum, a virtual currency created by a Russian programmer in 2013 based on the blockchain technology. Interested in buying Ethereum? Here, you will find the most important information about investing in this cryptocurrency.
Description and information about Crypto Currency Ethereum
The name Ethereum comes from the English word “ether”, meaning a hypothetically existing substance in which electromagnetic waves, including light, are supposed to occur. Ethereum is a cryptocurrency created by Russian programmer Vitalik Buterin. At the end of 2013, he saw the success of the blockchain technology (which Bitcoin is currently using) and decided to use it to create a network for designing mobile applications. In 2015, Ethereum Switzerland GmbH launched a peer to peer network.
At the same time, a system for virtual contracts was created, in which tokens were introduced to facilitate billing, and which were named Ethereum (1 ether – 1ETH). Although Ethereum was initially used only for settling payments between programmers, the popularity of the cryptocurrency quickly overshadowed the very application designing platform. In 2016, the environment was divided, and two cryptocurrencies were created which differ slightly from one another – Ethereum and Ethereum Classic.
In many ways, Ethereum is like Bitcoin. It is based on the Blockchain technology, where each user has access to the source code, and none of these cryptocurrencies are “copied”. However, there are several differences. Unlike the creators of Bitcoin, the creators of Ethereum have not set a maximum limit of ETHs that can circulate. The environment of both cryptocurrencies is also quite different. Although you can buy and sell Ethereum just like Bitcoins, it is part of a much larger system.
Where and how to start investing in Ethereum Crypto Currency?
Although investing in Ethereum is not complicated from a technical point of view, from the user’s perspective it is important to prepare and gain basic knowledge before deciding to purchase a cryptocurrency. This can be done, for example, by reading a whitepaper, a document in which the creators of Ethereum comprehensively explain all technical aspects related to its functioning.
It is also recommended to follow current price trends and plan an initial investment strategy. It will also be necessary to scan our computer with a proven antivirus program. The next stage is to set up a cryptocurrency wallet. It can exist in the form of a program or application, but also a physical device. Recently, external wallets have enjoyed great popularity for security reasons – however, it is a matter of individual opinion. When choosing a crypto wallet, you should always check whether it supports ETH and other virtual currencies that you may become interested in.
Reviews for Ethereum Crypto Currency. What do they write in the forum and in the press?
Many people are interested in reviews about Ethereum on online forums and in the press. They would like to find out not just the detailed information about this cryptocurrency, but also the experiences of ordinary users. At present, many investors perceive a significant potential in Ethereum when it comes to exchange rate growth in relation to traditional currencies, especially in the long term.
Surely, it would be a mistake to see chances for profit solely in Bitcoin investments – cryptocurrencies like Ethereum can yield higher returns. At the same time, one should be aware that investing in cryptocurrencies always involves the risk of losing all or part of the capital. For this reason, you can encounter reviews from individuals who have invested in Ethereum and have recorded significant losses in a short period of time. Undoubtedly, programmers should pay attention to the Ethereum environment not only because of the investment aspect, but also because of the possibilities of application development.
Where and how to buy Ethereum? What Stock Exchange will be the best?
Once you have a cryptocurrency wallet, the next step is to purchase Ethereum (ETH). We can do so in two ways: through a currency exchange or by using a cryptocurrency exchange platform. In both cases we can do so by using a bank transfer, but not all banks handle cryptocurrency payments, so it is worth keeping this in mind.
A cryptocurrency exchange is an ideal solution for novice investors, as it is the fastest and the simplest method. It works exactly the same way as traditional online exchange services – we enter the amount of money we are interested in, the exchange rate is calculated according to a predetermined amount and we can make a payment through a bank transfer. The scenario differs when it comes to cryptocurrency exchanges, which are appreciated by more advanced users.
They allow you to make transactions both with the owners of the exchange as well as other users. This makes it possible for us to get a much more favorable exchange rate as long as we are prepared to wait a bit. You should always remember to transfer funds from the exchange to your cryptocurrency wallet after purchasing ETH. The exchange service is not used to store them!
Where to check the Ethereum (ETH) exchange rate. Reliable sources
We can check Ethereum’s (ETH) exchange rate mainly through the official website of the project, ethereum.org. Naturally, each currency and cryptocurrency exchange also have their own buying and selling rates. It is worth searching for the most advantageous rates, but also to use proven, reliable sources which can guarantee security of transactions.