7 min read
What is Ethereum: main features
Ether (ETH), the cryptocurrency of the Ethereum network, is undoubtedly the second most popular digital token after bitcoin (BTC).
In simple terms, Ethereum is an open source software platform based on blockchain technology. Allows developers and technical teams to create apps on it. These apps are decentralized, so they are commonly called DApp.
Smart contracts on the Ethereum platform allow startups to create Dapps that exchange resources, as content or digital money, without risk of censorship, downtime or any external manipulation.
If you want to know more about What is Ethereum and how to mine this cryptocurrency, we suggest you to read the article dedicated to this topic on the Bitnovo Blog.
Why is Ethereum a good investment?
Ethereum has maintained the second largest cryptocurrency position since its inception and many wonder if it is convenient to invest in this cryptocurrency.
Despite being a bit slow, the ETH has recorded a very positive 2020. The market capitalization of Ethereum has gone up to beyond 38 billion dollars and we can say that it is revolutionizing decentralized finance (Defi), so as to attract the attention of so many investors.
Many traders can be a bit discouraged by the volatility of Ethereum price movements, which can affect a lot when deciding whether to invest in Ethereum. However, despite the volatility, if we study the cryptocurrency movements of recent years, we will see that its price continues to rise.
The rapid increase in value, along with the growing interest in the Defi space, which holds the highest potential for Ethereum, has gradually increased the interest of large companies such as Visa and Coca-Cola.
The interest shown by these large companies holds a great potential that promises a surge in the value of this cryptocurrency in the coming months.
Moreover ETH has recently reached a significant goal, recording the highest number of daily transactions on the Ethereum blockchain.
On September 17, the number of daily transactions on the Ethereum network amounted to 1,406,000, according to data from the leading Ethereum explorer Etherscan. Therefore, the increase in transaction volumes also increases the wider acceptance, which can only increase the value and potential of this cryptocurrency for the purpose of an investment.
Where to buy Ethereum?
Now that you’ve seen the potential benefits of buying Ethereum, we quickly explain how to purchase your ETH easily and safely.
- Mining services
- Broker for Bitcoin
If you want to invest in Ethereum but you don’t know how to move in the world of cryptocurrencies, the best way to make a profit with this cryptocurrency is by relying on industry experts.
Online you will find many web pages dedicated to brokering services for Ethereum. All you need to do in these platforms is register online and start working with Ethereum.
Remember that if you decide to operate in web brokerage, there is a disadvantage.
Normally, when you open an account on these platforms, you authorize them to keep your cryptocurrencies. So in case of theft or hacking actions you could lose all your earnings in one fell swoop.
- Online sales and direct purchase services
We refer to Ethereum online trading platforms, that allow to purchase ETH and other crypto withcredit, debit, prepaid card or by bank transfer.
These are platforms that simply sell or buy Ethereum at the price they set or with small commissions on each purchase.
In general such platforms boast a very simple purchasing process.
You will need to create an account, verify your identity and provide the number of your virtual wallet to which you want to send the purchased ETH.
Below we will provide you with a list of the best sites on which to buy Ethereum.
- With Cash at Bancomat (ATM) for cryptocurrencies and physical shops
One of the easiest ways to buy Ethereum is by going to cryptocurrency Atms or stores that sell vouchers redeemable with cryptocurrencies.
Brands like Bitnovo, provide their customers with an ATM network and physical shops where they can buy vouchers reedemable with Ethereum and other cryptocurrencies.
Platforms to buy Ethereum
If you have already prepared your Ethereum wallet, get ready because we will reveal the platforms where you can buy your Ethereum easily and safely:
It is one of the most famous brands in the sector in Spain, Italy, France and Portugal to buy Ethereum and other cryptocurrencies.
Bitnovo lets you buy Ethereum:
- ONLINE: paying by credit or debit card, with cryptocurrencies or by bank transfer.
- WITH VOUCHER redeemable with Ethereum and that you can buy in shopping centers or in physical stores affiliated or in the ATM network of Bitnovo. You can find your nearest ATM or shop by consulting the map in the web page or in the Bitnovo app.
Once the purchase has been made, before receiving your ETHEREUM, you will be asked for an identity check (required only on the first purchase), in accordance with the anti-money laundering manual as well as for customer safety.
Binance is considered one of the leading platforms for the purchase of Ethereum and other cryptocurrencies.
On its platform you will find several services such as Loans and services to be able to get profitability from your Crypto (Staking).
It is the most comprehensive trading platform.
It is another Spanish brand that offers the possibility to buy Ethereum in physical stores (only in Spain for the moment) or on their website.