Ether (ETC) is the native token of the Ethereum blockchain and its most well-known secondary market. The explosion of interest in cryptocurrency has been good news for all kinds of digital assets, including Ethereum, which has grown by over 5,000% in just one year. But what is Ether? Why does it exist, and why would you want to own some? This guide covers everything you need to know about investing in Ether and the broader world of Ethereum tokens.
What Is Ethereum?
Ethereum is a blockchain-based platform that enables developers to create applications using a programming language called Solidity. The technology attracted investors and developers due to its potential uses and the Ethereum token is used as fuel to power the applications. Ethereum is similar to Bitcoin in some ways, but Bitcoin is a peer-to-peer cash system whereas Ethereum enables developers to create applications.
How to Buy Ethereum in Australia: 3 Steps to Become an Ether Investor
Buying Ethereum on a third-party exchange is a common way of acquiring ETH. Investors should understand the aspects of the process before buying their first Ethereum. These include trading ETH for other digital assets, cryptocurrencies like buy bitcoin in Australia, and fiat currencies like USD, EUR, and GBP.
How to Store Ether and ETC
Buying Ethereum on a third-party exchange is a common way of acquiring ETH. Investors should understand the aspects of the process before buying their first Ethereum. These include trading ETH for other digital assets, cryptocurrencies like Bitcoin, and fiat currencies like USD, EUR, and GBP.
How to Sell-Buy Ether & Bitcoin?
To buy or sell Ether, you’ll need an account with a digital currency exchange. There are hundreds of digital currency exchanges in operation today, but not all exchanges support the trade of Ether. Some of the most popular exchanges that allow you to trade Ether (ETH) include Coinbase, Binance, and Kraken. If you’ve purchased Ether as an investment and want to sell it when the price is high, you’ll need to first transfer the coins from your digital wallet to the exchange. Then, you can sell your coins for fiat currencies like USD, EUR, or GBP, or for other cryptocurrencies like Bitcoin. If you’ve purchased Ether for a specific project that you’re working on (for example, you’re building an app and need tokens to operate the app), you can transfer the coins from your digital wallet to the service that you’re using for the project (for example, a blockchain accounting platform like Balanc3). Then, you can sell the Ether to receive the fiat currency that you need.
Final Words: Should You Buy Ether?
Ethereum is a popular cryptocurrency that can be a lucrative investment. Before buying, consider the advantages and disadvantages of investing in Ether. It’s crucial to understand the risks and rewards.