The Ultimate Ethereum Guide

Ethereum has become a major player in the cryptocurrency market. With over 7500 cryptocurrencies available, Ethereum places itself on top and is one of the leaders in the industry. But what is Ethereum, how does it work, and how is it possible to invest in it?

Ethereum is an open access blockchain network software platform using its cryptocurrency token, ether.

First proposed in 2013 by Vitalik Buterin, the idea behind the platform was to increase the scope behind cryptocurrency developments and blockchain technology and allow users more freedom in working on it.

In 2014 Buterin and the core team funded and launched Ethereum.

Blockchain technology and the appeal of Ethereum

Blockchain technology allows users to access and send values without a third party looking over and observing business and currency transactions.

An important part of Ethereum’s appeal is the idea of a decentralised platform, where users have control over their data.

Ethereum offers the allowance of movement of data and currency without these movements being stored by a software’s creator.

Supporters of Ethereum have referred to is as a ‘world computer’. These grand ambitions of creating a huge leaderless decentralised network help to explain how it has grown over the years.

Why has Ethereum been a success? 

After Bitcoin, Ethereum is the second-largest cryptocurrency in the world and has had a good record of investment over the years. A significant reason for this is that it puts the community at the forefront of starting new blockchain applications and developments.

Ethereum has expanded its community and aims to place the idea of online working back to the original terms of the internet in its infancy; that is, to provide a space for cooperative learning and industry without major controllers and backers.

Another contributing factor to Ethereum’s success is that it is also a programming language. This assists programmers to work on, publish and distribute applications.

How to invest in Ethereum

The first stage in considering an Ethereum investment is the identification of what trading exchange and platform you will be using. Various platforms including Coinbase, Bitstamp, and Binance allow Ethereum to be traded on their exchanges.

Once the trading platform has been selected, it will be possible to buy the currency. Ether, or ETH, is the native currency of Ethereum. To buy ETH tokens for the platform it will be necessary to open an account. From then you will need to access a wallet, offering you access to your account and any funds you choose to invest in it.

After depositing money into an Ethereum wallet, you can begin trading on an exchange. Buying and selling ETH can be optioned via your wallet, which allows control over your trading.

Things to consider when investing in Ethereum

Cryptocurrency is by its very nature an unregulated form of investment and trading. This makes it a great opportunity for innovative trading, but also potentially vulnerable to unscrupulous trading entities.

Carefully choosing an exchange with an identifiable list of credentials such as home address and trading history is integral. Simply put, do your research before opting for both platform and Ethereum.

Ethereum is an innovative network in the rapidly changing way individuals and industries interact and conduct business. By carefully investigating the various factors involves in trading, it can prove to be a valuable investment.