How to buy Ethereum ETH ?
Why Ethereum is needed
The Ethereum platform gives everyone the chance to use all the advantages of DLT (Distributed Ledger Technology) when performing specific tasks. This ecosystem eliminates the necessity to build your own crypto network. Instead, you can take advantage of the ready-to-use solution for a small fee.
The platform gives programmers a great opportunity to create DApps using the ecosystem. The system is protected against failures, cyber attacks, interference in the processes, etc. In case of a node failure, the DApp switches to another node and continues operating. Data obtained as the result of a smart contract's execution remains unchanged due to the distributed storage system that involves thousands of nodes.
There are a lot of functions that were made possible due to the Ethereum ETH ecosystem: launching more complex smart contracts to manage logistics chains, creating DApps of any type from games to utility programs, digitizing physical assets such as precious metals, oil, industrial goods, etc. Take also into account managing services for customer identification and document authentication as well as organizing decentralized trading platforms.
Pros and cons of ETH
Who stands behind Ethereum?
The platform of Ethereum was developed by Vitalik Buterin, a young Russian-Canadian IT specialist. He turned the blockchain market upside down in 2015, when he was only 21 years old.
But the history of Ethereum began in 2013, when Buterin, the founder of Bitcoin Magazine, and Gavid Wood presented the concept of the Ethereum blockchain platform. They believed, that cryptocurrency in this project should play a role of not only a payment tool, but also allow to exchange resources to many online services operating in a peer-to-peer network. Besides, the colleagues provided for the possibility to buy ETH as well as to sell ETH on crypto exchanges.
As a result of ICO held the following year they collected 31,000 BTC ($18,000,000.) Buterin managed to attract the attention of big financial institutions and in summer 2015, the new network was launched in test mode, but the full set of functions became available only 9 months later after the Homestead protocol was created and implemented.
Ethereum or Ethereum Classic?
In June 2015, a vulnerability in The DAO code was detected. Due to the failure, approximately 1/3 of all ETH coins were stolen by hackers who transferred the currency to a branch of the ChildDAO chain, which was completely under their control. However, the stolen funds turned out to be frozen for a month due to the specific features of The DAO project.
After this unpleasant incident, in summer 2016, a hard fork of Ethereum occurred which canceled all the changes made by hackers. But a part of the community decided not to leave The DAO project, and in this way, the platform called Ethereum Classic ETC was formed. The newly created blockchain received the name Ethereum, but the old platform became known as Ethereum Classic.
Nevertheless, many crypto experts recommend to invest in Ethereum Classic. But it is up to you whether to buy Ethereum Classic or Ethereum currency for trading or investing in.
Ethereum vs. Bitcoin
Ethereum and Bitcoin are both blockchain platforms, but the field of application, as well as functions of Bitcoin, are much more limited. This platform was designed only for carrying out monetary operations. At the same time, Ethereum is a complete environment for creating and implementing DApps that involve smart contracts.
There are a lot of differences between their native coins too. BTC is used as an electronic payment method, while Ether ETH is both a payment unit and "fuel" to power smart contracts. Any investor, private trader, or just a crypto enthusiast may buy Ethereum currency online with a credit card or a credit card, or a lot of alternative variants.
Trading ETH currency using some known strategies is a proven way to earn money within a short period. But you should take into account all potential risks resulting from the high volatility of all cryptocurrencies. Remember, that trading ETH is not a guaranteed way to raise money, but a large profit is truly non-illusionary.
Where to store Ethereum
The most popular wallet for storing Ether is called MyEtherWallet. This is an application that requires no downloading the blockchain to your hard drive, but it is easy to use and quite reliable. Especially if it is synchronized with a hardware wallet, for example, Trezor or Ledger Nano S. These devices look like a USB flash drive with a mini-display designed for protecting your private keys.
If you are going to purchase Ethereum currency for trading, it is enough to create an account on a cryptocurrency exchange. Perhaps, this is the simplest and in general the best way to buy Ethereum for further exchanging tokens. In this case, you don't need any additional application accounts. When storing your coins on such an exchange as P2PB2B, you can sell Ethereum currency at any time.
Should I invest in Ethereum?
In 2021, ETH currency is still one of the top cryptocurrencies to invest in on an exchange. Virtual currency experts agree that Ethereum is going to continue growing. This trend is motivated first of all by the transition to the second version of the network (Ethereum 2.0). This cryptocurrency is about to acquire the staking feature to generate passive income simply just for storing Ether in your account.
The Ether cryptocurrency is a proven coin, that is why traders tend to choose this virtual currency or Bitcoin for a long-term investment. Besides, other Ethereum-based tokens enjoy the initial trust exactly thanks to the authority of the Ethereum platform. Another positive trend is the growing popularity of decentralized financial applications (DeFi), where Ethereum is also involved.
That is why buying Ethereum is one of the safest variants available for investors.
How to buy Ethereum on a crypto exchange for trading
If you are interested to buy Ethereum now in the easiest way, pay attention to crypto exchanges. Visiting a cryptocurrency exchange, for example, P2PB2B and creating an account is the easiest and cheapest way to buy Ethereum. For signing up you will also receive 50 PACT tokens for free!
P2PB2B is one of the best places to buy Ethereum due to legal registration in the EU, nice prices, and a large community. Don't worry if you haven't bought any cryptocurrency on an exchange, this is very easy. Buying cryptocurrency on an exchange is as easy as making any online purchase:
- First, you should create an account on P2PB2B.
- Choose any convenient payment option and link it to your account.
- Just place an order.
Now you can start trading or continue buying crypto.