Ethereum – the name that always comes along when someone mentions “Bitcoin”, the largest cryptocurrency in the world, and the value of Ethereum in the market is second only to Bitcoin. So what is Ethereum (ETH)? What is the difference between this coin and Bitcoin? How to get Ethereum and should I invest in Ethereum in 2021? Find out with I Love Bitcoin below.
What is Ethereum (ETH)?
Ethereum is a cryptocurrency (cryptocurrency, virtual currency or digital currency) developed on the platform Blockchain technology. Ethereum is built on a separate Blockchain, but still basically relies on the source code of Bitcoin and has more improvements than the “big brother” that went before. Ethereum coin created by Vitalik Buterin in 2013 with the aim of overcoming the disadvantages of Bitcoin.
What is Ether?
In fact, most of us call Ethereum It is not correct to be a cryptocurrency, it is more like a Blockchain platform, but because the trading code listed on CoinMarketCap or exchanges uses “Ethereum”, it makes people understand that. Ether new is a cryptocurrency in the Ethereum network and is denoted by “ETH“good” ETH Coin. Ether is used to pay for transaction fees and payment services in the Ethereum network.
What is the difference between Ethereum and Bitcoin?
As I mentioned above, it’s basically Bitcoin and Ethereum are quite similar because they are developed on the Blockchain platform, the biggest difference that we can see is in the purpose of use of these two coins.
With Ethereum, it was created to be a platform for development Smart Contract (Smart Contracts) and Dapps (Decentralized application).
As for Bitcoin, its purpose is to be a currency, a method of payment and a store of value.
In addition, the Ethereum platform also has advantages over Bitcoin such as:
- Transaction speed is faster than Bitcoin
- Transaction fees are cheaper than Bitcoin
You can see more differences here.
What is a Smart Contract?
Smart Contract Smart Contract is a rather confusing term for people without technical knowledge, but you can simply understand Smart Contract is a deterministic exchange mechanism, controlled by digital means to enforce transactions. direct translation between entities without the trust of the parties.
For example, when you sign a real estate sale and purchase contract, for example, there should be a third party with a responsibility to mediate such as the land department to avoid fraud cases and have trust. But with Smart Contract, we can completely eliminate the 3rd party intermediary and transact directly with each other without worrying about being scammed at all. These contracts are defined by programming and run exactly as intended without censorship.
How to get Ethereum virtual currency?
As far as I know, there are currently 3 ways for you to own Ethereum virtual currency was:
- Buy Ethereum: You simply spend money to buy ETH Coin on markets and exchanges. This is also the simplest and fastest way to get ETH. In Vietnam, Remitano is the most prestigious, safe and cheapest exchange now, I also often buy and sell Ethereum here. You can see the tutorial on Remitano here Please.
- Mining Ethereum: This way is not for newbies learn about Ethereum, it requires you to have technical knowledge, about computers. You will have to invest an amount from a few tens to several hundred million to buy ETH miners to solve complex algorithms to receive ETH rewards.
- Earn Free Ethereum: This way is also used by many people in their spare time to earn Ethereum, currently there are many websites or apps that allow you to earn free ETH by playing games, or clicking ads, ..the work is also quite good. It’s simple, but I think this way is just for fun, the amount of ETH earned is very little.
Year 2021 Should I invest in Ethereum anymore?
Have – Personally, I still should Invest in Ethereum. In terms of the entire cryptocurrency market, it is still a very potential place to invest in the future, of course, price fluctuations can make you lose, it is risky to invest and you have to get used to it. But this is also an opportunity for you to make a lot of money, if you entered the market in November and December 2017, you can completely “get rich quick”.
And when deciding to invest in a certain coin, you also have to have a “choice”, evaluation. Ethereum is one of the largest coins after Bitcoin, the price volatility is less than other small coins, moreover, Ethereum is the development platform for many other coins and tokens, not to mention businesses and merchants. Brands in the world are using Ethereum’s Blockchain like Microsoft.
The Ethereum development team is also working non-stop to perfect the platform, which is also a good sign for you to believe in the future of the world’s second cryptocurrency.
Store Ethereum (ETH Coin) in which wallet?
There are many options for you when store ETH coin, here are some wallets you can use to store Ethereum:
The wallet I most often use is Blockchain or Coinbase, and with cold wallets it is very safe but not very convenient, exchanges only use it when you regularly trade with other coins (Trading), and if you store it for a long time. and leave that alone, you should use Blockchain or Coinbase wallet or cold wallet.
Should see: Top 12 types of wallets to store Ethereum coins reputable, safe and best
What is the current rate of Ethereum virtual currency?
At the time of writing this article (August 29, 2018), the price Ethereum coin are at 291 USD and has a market capitalization of $29,685,615,102 USD, the trading volume of the last 24 hours is $1,490,523,948 USD. Did you watch Ethereum Rate updated in real time by us to understand price movements and make sound buying and selling decisions. See more:
See more information about Ethereum Coin at:
Epilogue
Ok, Here is the article “What is Ethereum (ETH)? 2021 Should you invest in Ethereum virtual currency again?Hope to bring you the most useful information about Ethereum coin. For me, Ethereum is still a potential investment in the future, especially at this time, the ETH price is quite ok to participate in the market. However, Crypto is a risky investment field, but also full of opportunities to make money, you should invest with excess capital and be responsible for your investment.
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