Ethereum is a blockchain network that has its focus primarily on running the programming code of any decentralized application. In simple words, it’s a platform via which information can be shared across the globe without any manipulation.
It is a decentralized cryptocurrency that also goes by the name of Ether (ETH). Apart from being a tradable cryptocurrency it also provides the necessary power to the ethereum network by providing transactional fees for computational services. It is one of the blockchain technologies that are responsible for numerous defi projects and new defi protocols.
Ethereum enthusiasts wish to hand over the power back to the users with the use of this decentralized system. Blockchain technology has the potential to revolutionize the world.
Basics of Ethereum
Ethereum blockchain-based network is primarily used to provide support to the world’s second-largest cryptocurrency after Bitcoin, Ether. Ethereum can be used to send and receive value across the globe without the intervention of third parties.
The main utility of Ethereum today is the value exchange. This is often put to practice through the native token of the blockchain, Ether (ETH). This cryptocurrency is of interest to many developers due to its long-term potential and ambitious vision. Ethereum gives more control to users of their online data and finances. Although it has faced its fair share of criticism, it has the potential of becoming the next revolution in technology.
Why buy Ethereum
Ethereum is the technology, while the cryptocurrency is Ether. Before investing in any asset it is significant to analyze its value. Rather than asking why a certain cryptocurrency should be bought, investors must know if a certain crypto coin has value. Some of the factors that make Ether (ETH) of high value are:
Volatility: While this was seen as a risk in the case of fiat currencies, intelligent investors have made the most out of these volatile markets. This was evident from the bull run seen in 2020.
Liquidity: Ethereum, indeed, is one of the most liquid investment assets across the globe. Ethereum can be easily traded through decentralized exchanges and protocols in a matter of a few minutes. Ethereum can also be traded quite instantly for other fiat currencies at a very low fee.
Less inflation risk: Unlike the other fiat currencies, these cryptocurrencies are not regulated by institutions or government bodies. Therefore, Ethereum is transparent to inflation.
3 Random facts about Ethereum
– Ethereum was a crowdfunding project.
– Ethereum being a cryptocurrency is also an ecosystem for decentralized applications.
– Ethereum was inspired by Anime.
Ethereum price trends
|Ethereum (year closing)||$1.30||$298.06,||$314.05,||$3393.83|
How to buy Ethereum on CoinDCX
Use these Three-step processes to buy your first Ethereum at CoinDCX platform
- Sign Up for the CoinDCX account
Enter a valid email address and a user name on the sign-up page. Once the Email Id has been verified, set a strong password to secure your account.
- Verify the account
To buy ETH at the CoinDCX platform along with other cryptocurrencies, the very first step is KYC verification. Upload the documents. In the next 15 minutes, the account will be set up for crypto investments.
- Buy Ethereum
After the account has been verified, the user can deposit a certain amount of fiat currency to buy ETH. In the next few seconds, the crypto coin will be transferred to the wallet.