Ether (ETH) - The second-largest cryptocurrency, everything you need to know

Trading | 7 months ago

Ether (ETH) - The second-largest cryptocurrency, everything you need to know - tradeglobalmarket

Today on February 10th, Ether has created a record high of $1,824.59. Ether has doubled its value this year, outperforming the largest cryptocurrency Bitcoin. More and more institutional investors and retail investors are participating in cryptocurrency Bitcoin. More and more institutional investors and retail investors are participating in the cryptocurrency trading due to the social media buzz. So, in this article we will discuss everything about Ether.


What is Ether?

Ether is a cryptocurrency. It is scarce digital money that you can use on the internet – similar to Bitcoin. After Bitcoin, Ether is the world's second largest crypto currency in terms of market capitalization. Ether is supported by Ethereum - which is a blockchain based software platform. In simple terms, Ether is digital, global money.


How to use Ether?

Ether is used as a native token (digital currency) inside Ethereum apps. Ethereum apps give its user more control over their online data. These apps provide a kind of alternatives to Google, Bing, Facebook etc. Now these platforms are free to use but they make money from personal data of a user by showing them advertisements and keeping track of their interests, logs etc.

Ethereum apps are not free, it uses Ether. Every action on an Ethereum app costs a little bit of Ether. This way users do not have to sacrifice their privacy at all. Users are paying for those app services.


What sort of things can you do with Ether?

Ether is decentralized and global. Using Ether, you can pay someone or receive funds directly. You can trade Ether with other cryptocurrencies like Bitcoin, Litecoin etc. You only need an internet connection and a wallet to accept Ether. You don't need access to a bank account to accept payments.


How can I buy Ether?

You can buy Ether (ETH) from a wallet or an exchange directly. Wallets will provide you more facility like you can buy Ether (ETH) with a debit/credit card, bank transfer or even Apple Pay. You can also buy Ether (ETH) from Decentralized exchanges (DEXs), if you want more control. It is more like an open marketplace for ETH and other tokens. They connect buyers and sellers directly. DEXs can let you buy ETH with other tokens, PayPal or even in-person cash deliveries. But you will still need a wallet to use a DEX.

From last two years the world has already started to understand cryptocurrency as a digital gold. Even the Chicago Mercantile Exchanges (CME) is expected to regulate the Ethereum futures. We expect that Ether will continue to be valuable in future as well.


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