Ether is one of the world’s most popular cryptocurrencies, currently sitting at the second-most-valuable spot across the whole crypto market. If you are new to cryptocurrency or just are not sure what to invest in next, then ETH is a very appealing option.
What is Ethereum?
Ethereum is a blockchain software platform that has its own specialized cryptocurrency, officially called Ether (ETH) but often named Ethereum as well for convenience. As the second-most-popular cryptocurrency on the planet, Ethereum has seen use in all corners of the world for hundreds of different reasons.
Ethereum is also used to develop smart contacts and decentralized applications, tools that are very useful for a wide variety of developers and companies. For the average crypto trader who does not care about the technical side, though, ETH is a straightforward and valuable crypto option.
Why Buy ETH?
Aside from the high value, many people buy Ethereum in Australia and beyond because it is a fairly simple cryptocurrency to use. While it has strong ties to the Ethereum platform, it is not limited to only being used there, allowing it to be treated like any other cryptocurrency.
More importantly, the development and technical benefits are not forced on the owner. People who simply want to buy and sell ETH can easily do so, and they do not need any specific technical knowledge to manage the currency.
Ethereum has an uncapped supply, but the total amount of ETH on the market is determined by the Ethereum community’s actions. Unlike normal mined crypto, this means that the uncapped supply will not constantly inflate in size until the value of an individual coin has tanked.
Supporting the Ethereum blockchain also has another major benefit – it helps the platform grow. Ethereum has been at the forefront of a lot of important developments, and the more support it gets from people buying and selling, the better their future projects can be.
How do I buy Ethereum?
Ethereum is available on a lot of popular cryptocurrency exchanges and can also be traded between individuals like any other crypto type. The site that you choose is up to you, but working with an official and verified Ethereum seller is often best if you want to prevent scams.
Since Ethereum still acts like a normal cryptocurrency, buying and selling it follows the same basic rules. Once bought, it can be added to your digital wallet for later, and you can use it anywhere that accepts ETH as a valid payment method.
If you want to sell Ethereum, you can do it in the same way – online exchanges. Remember that different exchange websites and apps work differently, so you will have to learn about what you are doing before you make any large trades, just in case.
Keep in mind that the value of ETH is going to change constantly. Sites that offer frequent price updates are the best option, especially considering that Ethereum is uncapped and that the supply can fluctuate based on what the Ethereum community is doing with the platform.