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Ethereum is a cryptocurrency whose development was funded by an online crowdsale in 2014. Along the way it set a record for the largest crowdfunding campaign in history. It attracted controversy along the way when the DAO as it was known, was forced to split into two different ventures. After users exploited a weakness in the DAO code, they syphoned off a third of its funds to a subsidiary account. This prompted the remaining community to restore the lost amount and split the project in tow. The original was known as Ethereum Classic (ETC) and the new branch was simply called Ethereum (ETH).
If you are looking to buy Ethereum then you need to know that the two different factions each have their own cryptocurrency. As it stands at the moment ETH is the second most expensive cryptocurrency behind Bitcoin. To buy Ethereum Classic cryptocurrency would cost substantially less.
As with all virtual currencies this can all change rapidly, so when you come to buy Ethereum be sure you know what you are looking out for.
If you need to know how to buy Ethereum then you need to find a good cryptobroker. There are plenty of them around, and most of them have offers to entice you in. This can range from 0% fees to free coins for using their services. It’s a sensible idea to do a little background checking first to see who is regulated and who is trusted.
The DAO debacle is a perfect example of how things can turn nasty if you aren’t clued up or are a bit too trustworthy. The anonymous nature of crypto transactions make them the perfect target for hackers. By using a trusted broker such as eToro, Avatrade, Cryptofund and 24option you can buy cryptocurrency with peace of mind.
Ethereum exchange prices can and will vary given the current state of the trading markets. Think of it like going on holiday and changing your GBP into the local currency, Ethereum exchange works much on the same principal. The exchange rate will change day to day depending on other current economic conditions. So, one day the exchange rate might mean that you get more for your money one day than you will the following day, and vice versa.
The prices have increased rapidly since they went live a few years ago and there is no sign that that will change any time soon. There are those that believe that ETH will overtake Bitcoin as the most successful cryptocoin in the very near future.
But there is always the possibility that its value could crash. Therefore any transaction is a calculated risk.
The system went live in 2015 with 11.9 million premined coins. This figure now accounts for a mere 13% of the total circulating supply. In this short space of time the price of Ethereum has increased astronomically. Following the ugly breakup of the DAO project, the two competing currencies have had very different fortunes. The users that stuck with the hackers and use the ETC currency have seen its value climb to approximately USD$31. In comparison, the users that broke away and chose to use their own cryptocurrency known as ETH is now worth an impressive USD$678.
If you’re thinking of trading in this cryptocurrency then it is imperative that you realise that while these figures are impressive, there is no real way of knowing which way the prices are going to go next. Judging by the Ethereum price history until now, both forms of currency are immensely popular and look like a sound investment.
The best Ethereum wallet is one that will protect your private key and transactions as much as possible. It should be easy to use, offer backup features and be compatible with other operating systems. All these things combined should make it much more pleasurable to use and help you immensely when buying and selling the currency.
They come in a few different forms, the first of which is a hardware wallet. This is very much like a USB memory stick and allows you to store your details offline. The second form is a desktop wallet. An Ethereum wallet such as Exodus is free to use program which has a very intuitive layout.
The next form of wallet is a mobile wallet. This is an app that you download from your phone’s app store such as Play store or iTunes. They are free, quick and convenient. The final option is a web wallet. These are fine for short term storage but because they are on the internet they are more prone to hacking.
Many cryptocurrency experts believe that if you invest in Ethereum then its value will continue to rise steadily as it has done since its inception. It is much more affordable than Bitcoin which means that investing in it significantly will be that much easier. Transactions via ETH are also super-quick compared to its big rival, and the technology it uses is much safer.
If this all sounds enticing then find yourself a good broker. 24Option, Avatrade and eToro have proven to be exceptionally popular with users who want to invest in Ethereum. They are all transparent, offer great low transaction fees and are already trusted by millions of people.
If you are looking at buying this cryptocurrency and want to know how much you are getting to the pound, then you need to look at the current exchange rates. The Ethereum price in GBP is a changeable as it is in any other currency, whether that is fiat money of cryptocurrency.
GDAX, or Global Digital Asset Exchange, is a secure and easy way for traders to buy and sell digital assets online instantly. GDAX Ethereum is one of the most popular trades in the online community because it is trusted and it allows you to track the market and previous trading history so you can make an informed decision. You can buy Ethereum from many top brokers online so be sure to get advice from us if you're unsure.