buy ethereum

Why do you need to buy Ethereum

All the altcoins are often placed in Bitcoin’s shadow by the general public. This is wrong on many levels, as altcoins were just developed after Bitcoin and the Ethereum which is discussed in this article has a huge capitalization bested only by Bitcoin, in 2020 the price doubled and it rose even more since the last year.

It had a huge impact on the IT industry spawning thousands of related projects in the crypto-industry itself and in business generally. As the early-developed cryptocurrency, it is similar to Bitcoin in some ways. We will elaborate on it further as well as on why it’s the best time to buy Ethereum and why you should buy it on WELLCOINEX.

What are the similarities between Ethereum and Bitcoin and how these two are different?

Both Bitcoin and Ethereum are blockchain-based decentralized platforms. The difference is Ethereum has “dapps”. Dapps stands for decentralized application and it allows users to develop apps with smart contracts. That, in turn, gives an opportunity to put the terms of purchase and sale between buyer and seller directly into code.

The aforementioned Dapps provide opportunities for Stablecoin and decentralized finance development. Ethereum Dapps make it possible to create tokens backed by hard assets or real-world currencies. And decentralized finance (DeFi) gives the ability to have terms of the agreement between buyer and seller within the code.

In addition to that, there’s no need for servers’ computing power as the network of computers that validate transaction take that role.

Detailed Pro and Cons of Ethereum

As we already mentioned the only cryptocurrency with a higher capitalization is Bitcoin. And here’re the reasons why Ethereum advanced that far:

• The initial goal. It operates as a platform or network to build an application on. It’s not just a virtual currency. Basically, it is an infrastructure with the potential to change a lot of traditional financial fields.
• More developers involved. Just search for Bitcoin and Ethereum projects on Github and you will see how outnumbered Bitcoin is. It is open for the users to improve and upgrade it.
• Reduced mining costs. Ethereum mining isn’t that tied to computing power as Bitcoin mining. And the price is mostly dependent on a proof of stake (PoS) where people who make contributions becoming validators. And this moves the price of Ethereum further- not currency sold by miners.
• DeFi and smart contracts that we described already.
• You can buy it in cash.

Cons:

• Known issues with delayed transactions.
• Way to dependent on the “face” of Ethereum- Vitalik Buterin.

Is it worth investing in Ethereum

To cut it short- yes! Several derivatives were launched on CME this February. And the same thing is one of the factors that ensured the success of Bitcoin. Speaking of Bitcoin. Historically the prices of the two currencies were highly connected with Etherium reacting to the BTC rises and falls. And you probably already know that 2020 was a huge year for Bitcoin.

The Ethereum cost predictions say that it will either grow gradually or will double by 2023. You won’t find the expert who is pessimistic about Ethereum’s future these days. Even the machine algorithm-based forecasts agree with it.

The choice is always yours, of course, but we highly suggest jumping on the Ethereum investment opportunity as soon as possible.

How to buy Ethereum

Given the fact that Ethereum is the second largest cryptocurrency after Bitcoin, it is possible to buy Ethereum or use ETH trading pairs on almost all major cryptocurrency exchanges. Some of the largest ones include:

• Binance
• CoinbasePro
• OKEx
• Kraken
• HuobiGlobal

Popular Ethereum price pairs include ETH/USD, ETH/GBP, ETH/AUD and ETH/JPY.

If you’re convinced that Ethereum is the thing you want to invest your money in- look no further. You can buy Ethereum with a credit card here on WELLCOINEX.

We offer Cryptocurrency exchange services. You sell and buyit here. All you need is to sign up for the account and the following is intuitive. Use Euro or Ruble to buy Ethereum or other 10 cryptocurrencies available here. Our service is available online 24/7 with high-end servers and powerful API applications.

Due to the usage of offline cold wallets, your finances are absolutely safe and you can rely on us and buy Ethereum for the optimal cost.

Buy cryptocurrency ETHEREUM

Ethereum is both a functional decentralized environment and a cryptocurrency that has been able to revolutionize the IT industry. The creators of Ethereum at the start of the system bet on Bitcoin standards, so the crypto is somewhat similar to it.

It is worth noting that the peak of cryptocurrency popularity in the market came from 2016 to 2017, just when Ethereum entered the market, which led to the creation of projects and startups, as well as attracted large investments.

Ethereum instantly took a leading position and in its popularity is in second place after Bitcoin.

What Is Ethereum (ETH)?

Ethereum is a blockchain-based blockchain system with an unclosed initial code, in which there is a personal cryptocurrency Ether. ETH is intended as a platform for a large number of other cryptocurrencies, as well as to execute distributed smart contracts.

For the first time, the Ethereum concept was depicted in 2013. VitalikButerin. In the summer season of 2014, Buterin together with other co-founders guaranteed the subsidization of the plan in the process of public crowdsale on the Internet. The instruction of the plan managed to interest 18.3 million dollars in bitcoins, and the cost of Ethereum in the process of initial coin offering (ICO) collected 0.311 dollars in the presence of the realization of more than 60 million. Ether. In case you realize the value of Ethereum because of the current one, in case, the return on investment (ROI) will be more than 270% in annualized terms, which means almost a fourfold increase in investment any time together with the year 2014.

Ethereum Foundation formally threw the blockchain on July thirty, 2015 around the prototype together with the code name “Frontier”. Together with such times, several updates to the bond happened – “Constantinople” February 28, 2019, “Istanbul” December 8, 2019, “Glacier Muir” January 2, 2020, “Berlin” April fourteen, 2021, as well as quite a while ago, 5 majestic 2021, Winchester fork “London”.

Ethereum’s intended task is to be a worldwide platform for dispersed add-ons, allowing users from the general public to compose as well as include software provision that is resistant to censorship, downtime as well and scams.

English software developer Gavin Kluska is probably considered another important co-founder of ETH, as he created the main technical implementation of Ethereum in C++ programming style, proposed his programming style of Ethereum-Solidity, and was the initial main technological chief of the Ethereum Foundation. Up until the emergence of Ethereum, Kluska worked as an academic at Microsoft. After that, he started forming the Web3 Foundation.

Who Are the Founders of Ethereum?

In total, Ethereum has 8 co-founders – an original large number for the cryptocurrency plan. For the first time, they met on June 7, 2014, in the Swiss town of Zapryazhka.

The most popular with them is probably the Russian-Canadian expert VitalyButerin. Somebody is considered the creator of a unique technological display Ethereum in 2013 and also according to the present period functions to improve the platform. Up until the emergence of ETH, Buterin was one of the founders and also the creator of the news website Bitcoin Magazine.

Among other co-founders of Ethereum: – Anthony RekaIorio, who was involved in the maintenance of the plan in the early period of its formation. – Charles Hoskinson, played a major role in the formation of the Swiss-based Ethereum Foundation as well as its legal foundation. – Mihai Alicie, who was instrumental in the formation of the Ethereum Foundation. – Joseph Lubin, a Canadian businessman who, like RekaIorio, supported Ethereum in the early stages of its formation and later created an electric incubator for ETH-based startups called ConsenSys. – Amir Chetrit, who participated in the formation of Ethereum, but withdrew from it in the early stages of its formation.

How Is the Ethereum Network Secured?

Ethereum is guaranteed by the Ethash proof-of-stake method, which belongs to the Keccak hash function genus.

It is planned to transform the bond into a proof-of-stake method, interconnected together with the big update of Ethereum 2.0, which will start at the end of 2020.

Already after the launch of the Ethereum 2.0 beacon chain (stage 0) in the Ethereum 2.0 blockchain in December 2020, the Ethereum 2.0 blockchain will be able to execute bets. The amount in Ethereum – this is the introduction of ETH (to activate the program-validator needs thirty-two ETH) in Ethereum 2.0 by the line of sending it to the depositor agreement, which contributes to the security of the bond by the line of information storage, transaction processing and the addition of new constructions in the blockchain. At the time of writing the note halfway through September 2021, the value of Thirty-Two Ether in Ethereum is currently approximately $116,029. The aggregate that Ethereum validators are currently receiving is a 6% annualized return, which equates to approximately 1.91952 ETH, or $6,960 in Ethereum’s current value. This number will change as the bond is formed and the number of stakes (validators) increases.

The incentive due to staking in Ethereum is conditioned by a curved distribution (assistance as well as a moderate share of stalkers): in certain variants, the incentive due to staking in ETH 2.0 amounted to 20% for early takers, but in the future, it will decrease and as a result will amount from 7% down to 4.5% in time.

The least conditions to bet in Ethereum are formalized Thirty-two ETH. In case you decide to bet on Ethereum 2.0, this means that your part of Ethereum will be blocked in bonds for months, if not years, in the long run, until the development of Ethereum 2.0 is over.

How Many Ethereum (ETH) Coins Are There in Circulation?

In September 2021, there were about 117.5 million ETH coins in circulation, 72 million of which were issued in the genesis block, the first block on the Ethereumblockchain. Of these 72 million, 60 million were allocated to the initial participants of the 2014 crowd sale, who financed the project, and 12 million were transferred to the development fund.

The remaining amount was given out as a reward for the block to miners on the Ethereum network. The initial amount of remuneration in 2015 was 5 ETH per block, then it decreased to 3 ETH at the end of 2017 and to 2 ETH at the beginning of 2019. The average mining time of one Ethereum block is about 13-15 seconds.

In the Ethereum network update in August 2021, the Ethereum Improvement Protocol, EIP-1559, was implemented as part of the London hard fork. Instead of the first-price auction mechanism, in which the highest bidder wins, EIP-1559 introduces a “base fee” for including transactions in the next block. Users who want their transaction to be prioritized can pay miners a “tip” or “priority fee”. Since the base fee changes dynamically depending on transaction activity, this reduces the volatility of gas fees in Ethereum, although it does not reduce the price, which is known to be high during peak congestion in the network.

One of the main differences between the Bitcoin and Ethereum economies is that the latter is not deflationary, i.e. its total supply is not limited. Ethereum developers explain this by saying that they do not want to have a “fixed security budget” for the network. The ability to regulate the volume of ETH emissions through consensus allows the network to maintain the minimum amount of emissions necessary to ensure security.

However, with the introduction of EIP-1559, the basic payments used in transactions burn out, withdrawing ETH from circulation. This means that higher activity on the network will lead to an increase in the number of ETH being burned, and a decrease in supply should lead to an increase in the price of Ethereum, all other things being equal. This can lead to Ethereumdeflation; which ETH holders are very happy about – a potential increase in the price of Ethereum already today.

The difference between Ethereum and Bitcoin

Despite the similarities in blockchain, Ethereum differs from Bitcoin in advanced functionality, and its platform is used for pseudo-anonymous transactions.

Essentially, Ethereum is a full-fledged environment for working with a decentralized Dapps application using smart transactions.

Bitcoin is based on electronic payment transactions, and Ethereum specializes in smart contracts.

Ethereum Features

Compared to Bitcoin, Ethereum does not have serious flaws, and its payment potential is very popular due to the fast processing of information and transactions.

As a rule, users do not have problems buying a currency. The main drawback of the crypto is its platform dependence, if the best option enters the market, the cost of tokens will decrease.

But the economic situation in the country and the dollar exchange rate on the crypt does not affect.

Ethereum does not provide for emission, it depreciates the crypt, giving you thought about developing a new mechanism that burns tokens.

Consider all aspects of Ethereum.

Currency Benefits:

• It supports almost all programming languages ​​and complex algorithms, and smart contracts are used in any field.
• The platform remains open for updates, upgrades and improvements.
• All innovations and updates are announced in advance.
• The platform remains open to new developments.

Ethereum Disadvantages:

• The currency remains centralized, regardless of an autonomous decentralized organization.
• The platform skips imperfect transactions.
• There is no clear documentation.

How to buy Ethereum

Since 2017, cryptocurrency has taken a leading position among other currencies, which gave it the opportunity to appear in exchangers and exchanges. There are several ways to get Ethereum:

• Buy currency on exchanges for fiat funds or cryptocurrency.
• In the exchanger.
• Cryptomat.
• Mine yourself.

The simplest and most affordable are the first two options. To complete a transaction on the exchange, you need to carefully study the exchange rate of Ethereum and register on the exchange.

Then replenish your trading account and place an order. After the transaction, the coins will be credited to the exchange account, from which they can be withdrawn to your cryptocurrency wallet.

When buying crypto in exchangers, you should take into account the transaction fee, as well as a less favorable rate than on the exchange. Despite their shortcomings, exchangers are very popular because of the simplicity and convenience.

Cryptomats are less popular, they do not support all types of currencies, so users have to make a double deal if there is no suitable currency and only then buy a crypt.

In order to mine Ethereum, investments are needed. Crypt is mined on farms working with GeForce and Radeon video cards, but after the platform switched to PoS, this method of obtaining currency became unprofitable.

Today, most mining users use the HASHFLARE service, signing a 12-month contract with it for the price of 0.8 US dollars.

For cloud mining, the platform uses equipment all over the world, but as practice shows, this method of obtaining crypto is long, so amateurs are engaged in it. But experienced users prefer to buy Ethereum on exchanges and exchangers.

The best option for obtaining Ethereum is the WELLCOINEX service, which allows you to purchase a crypto at a favorable rate with a minimum amount of commission.

At the same time, the platform ensures transaction security and transaction speed. After the exchange, crypto instantly arrives at the wallet specified by the user.

Note that to store Ethereum, the user must open the crypto wallet. For this, the Ledger Nano S program is ideal, hacking of which is impossible.

The uniqueness of this wallet is that it is similar in effect to a flash drive and does not connect to the Internet. After receiving the crypto, it can be sent to the Ledger Nano S by indicating the wallet number.

You can also use MyEtherWallet, the wallet does not need to be downloaded, it works online, but the private key needs to be stored on a computer device. As a rule, users can use a hardware, desktop, paper, mobile and web wallet to store cryptocurrencies, including Ethereum.

Is it worth investing in Ethereum?

Investing in Ethereum should be considered in the long run. The peak of its popularity is planned for 2019-2021. Today, one crypto can easily earn over $ 130, but in a couple of years its value can increase by more than three times.

Judging by the experts’ forecast, in 2020 the price of Ethereum will increase to 300-600 US dollars, despite a sharp drop in the currency in 2018 to $ 80 Quandy Louis, the founder of the crypto makes optimistic forecasts for the Ethereum account, based on the rapid development of EEA, in which large organizations are constantly entering.

Today it includes: “Santander”, “Sberbank”, “Intel”, “Morgan” and “Microsoft”. According to experts, the crypt can significantly increase by the end of 2020, reaching a value of 600-1000 US dollars.

Therefore, by investing in crypto today, users in the future can get stunning profits.