What Exactly Is Ethereum and How To Buy It?
Ethereum Explained
Most of the popular cryptocurrencies these days are Bitcoin, Dogecoin, and Ethereum. While everybody knows what Bitcoin and Dogecoin are, not many people know what exactly is Ethereum. Ethereum is currently booming in the crypto market and before you miss your chance to invest in it, read my article and learn everything you need to know about Ethereum.
What Is Ethereum
Ethereum is basically like Bitcoin and runs on a decentralized computer network called Blockchain, which manages and tracks records based on when you bought and sold crypto. Ethereum can make transactions privately and can be exchanged for money like Bitcoin. You might be thinking right now, “This is like Bitcoin, what more is there to it?” There are actually a lot more slick features Ethereum has that other cryptos don’t. Ethereum can make smart contracts which are contracts on Blockchain that can exchange Ethereum once conditions are met. Not only can Ethereum make contracts on Blockchain, but in other networks as well.
Applications Of Ethereum
Ethereum has a wide spectrum of functions and applications.
Cryptocurrency Wallet: You can pay for goods and services by paying Ethereum as the payment if it is accepted.
Decentralized: People can avoid government control over their money & assets.
Digital Apps: Ethereum runs tons of apps where people can invest, send money, play games, and do tons more to experiment with models that could be game-changing for the crypto market.
Non-Fungible Tokens: They are tokens created by Ethereum to allow artists to sell their work directly to the buyers through smart contracts.
Where Does Ethereum Come From
Currently, around 118 million Ethereum coins exist, while Bitcoin has just around 20 million Bitcoins. Ethereum also allows an unlimited supply and distribution of Ethereum, unlike Dogecoin. How cryptos are generally created is by being mined from specific networks on computers so that more cryptos can be created and distributed in the market. After crypto is mined, the crypto is sold and is transacted through Blockchain. If you have ever seen a crypto mining center, you’ll see the tons of monitors continually mining Bitcoin or Ethereum. That is because mining and transacting the crypto requires tons of energy and time, thus requiring tons of money to operate this network, so tons of monitors are required.
Buying Ethereum Safely
There are tons of crypto hackers all around the world and to preserve your crypto, you need to find a safe brokerage to invest in. The best brokerages to invest in Ethereum are Coinbase, Robinhood, and Gemini. These companies have among the best ratings and features to buy and store your Ethereum.
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