Ethereum

How to Buy Ethereum – Forbes Advisor

Published

8 months ago

3 June, 2024

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Although Bitcoin is the top cryptocurrency based on the value of its coins in circulation, Ethereum is not left out. With a total value of over $230 billion, it is the second largest cryptocurrency by market capitalization. Here’s how to start buying Ether, the official name of the token that runs the Ethereum platform.

How to buy Ethereum

Investing in Ethereum may be easier than you think. Here’s how to get started in just five steps:

1. Determine your risk level

There is no way around this problem; buying Ethereum can be a gamble. Although all investments carry some risks, cryptocurrencies are particularly vulnerable to price fluctuations. Just think about the impact a few hundred characters can have on the price of cryptocurrencies: after Elon Musk tweeted that Tesla would no longer accept Bitcoin as payment, for example, the coin’s value dropped by 15%.

Although Ether has seen impressive returns in the past, it has also experienced significant crashes, sometimes in surprisingly short time frames. Notably, it fell from a high of nearly $4,000 per coin in May 2021 to less than $1,800 in June 2021. If you had bought at its high, you would be sitting with barely half that value a month later. That’s pretty extreme volatility.

This is why it is important to consider your risk tolerance as well as the diversity and stability of the rest of your investment portfolio before purchasing Ether. Experts recommend never investing more in crypto than you can afford to lose.

2. Choose a crypto exchange

Buying Ether is a bit more complicated than simply purchasing stocks or mutual funds through your current account. brokerage account. Cryptocurrencies are not traded on major exchanges like New York Stock Exchange (NYSE)and many brokerages do not offer crypto investing.

To buy cryptos, you must first create an account on a crypto exchange. In practice, it’s like the brokerage platforms you may be more familiar with: crypto exchanges allow buyers and sellers to exchange fiat currencies, like dollars, for cryptocurrencies like Ethereum, Bitcoin or Dogecoin. If you don’t have a crypto exchange in mind yet, take a look at our list of best cryptocurrency exchanges to find the one that suits you. Although some exchanges’ trading platforms become complex, most offer a simple purchasing interface for beginners, although it may charge higher fees than their trading platform.

Some key points: When choosing an exchange platform, make sure it offers a crypto wallet to store your investments. The vast majority do, but if not, you’ll need to get one.

And if you’re a real beginner, you can always use a platform like Robinhood or Cash App. This will greatly simplify the process of buying crypto for you, but it comes with a hidden cost: you cannot withdraw your Ethereum investment and put it into a third-party wallet or use it to pay for online purchases. Using one of these simplified exchanges means that your crypto will only be able to be traded on the exchange you purchase it on. So you will need to withdraw money from this platform and then buy it back on a crypto exchange to keep it in a separate wallet.

Start investing in Ethereum today with Coinbase

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3. Fund your account

Before you can buy Ethereum through a crypto exchange, you must fund your account. In most cases, you will deposit money from a bank account, such as your personal checking or savings account. You can also usually make wire transfers, use a debit card, or deposit money from PayPal.

When choosing a funding method, look at the crypto exchange’s fees; they may vary depending on the method.

A warning: some platforms allow you to purchase cryptocurrencies using a credit card. Although it may seem tempting, credit card companies generally consider cryptocurrency purchases to be cash advances. Depending on the card you have, you may have to pay a higher interest rate and cash advance fees on top of the crypto exchange’s fees.

4. Buy Ethereum

When you buy stocks, mutual funds, or exchange-traded funds (AND F), you are limited by market times. For example, Nasdaq Trading Hours are from 9:30 a.m. to 4:00 p.m. ET, and the exchange is closed on weekends and some holidays.

Cryptocurrencies like Ethereum work very differently: because they are decentralized currencies, you can buy and sell them 24 hours a day.

To purchase Ethereum, enter its ticker symbol — ETH — into the “buy” field on your exchange and enter the amount you wish to purchase. If you don’t want to purchase an entire Ethereum token or don’t have enough money in your account for a full coin, you can purchase a fraction.

For example, if the price of Ethereum is $2,000 and you invest $100, you will buy 5% of an Ether coin. It’s like when you buy a fraction of share of a stock.

5. Store your Ethereum

Once your Ethereum purchase has been processed, you need to store your cryptocurrency. Although some platforms store them for you, some people choose to store their investments themselves to reduce the risk of losing their crypto to a hack. This is understandable, but it is also important to note that most major exchanges insure their customers’ holdings and often store the majority of their assets offline to avoid mass thefts. Additionally, historically, hacked exchanges have reimbursed all losses.

But if you want peace of mind regarding your crypto, you can choose to move it to one of two types of third-party wallets:

Hot wallet: A hot wallet is connected to the Internet and can be accessed from a computer or smartphone. They are convenient and are usually provided by cryptocurrency exchanges at no extra cost, although you can also use your own if you prefer your crypto off the exchange. However, because they are always connected to the Internet, they are at higher risk of security breaches.
Cold wallet: Cold wallets, meanwhile, external devices are completely disconnected from the Internet. Depending on the type you choose, they typically cost between $50 and $200, although there are even more expensive versions. Although cold wallets are less convenient than hot wallets (you have to manually connect them to the internet every time you want to access your crypto), they are more secure and may make sense if you own a significant amount of Ethereum or other cryptocurrencies.

How to sell Ethereum

To sell your Ethereum, simply return to your crypto exchange and enter the amount you wish to sell.

If you are selling a significant amount of crypto, you may want to consult a tax specialist. Despite its decentralized nature, crypto is taxable in the eyes of the federal government. Your profits from the sale are generally subject to capital gains taxes and can significantly affect the amount you owe the IRS at tax time.

Should you invest in Ethereum?

Ethereum is extremely popular, with over 116 billion coins currently in the hands of investors. But just because it’s one of the most well-known cryptocurrencies doesn’t mean it’s right for you.

Before you buy a volatile investment like Ether, you need to make sure you’ve done your research and that your finances are in good shape. Ideally, you should have a large emergency fund, max out your retirement accounts, and have minimal debt. Even though you can check all of these boxes, it’s important to diversify your portfolio, which is why only a portion of your investments should be in Ethereum and other cryptocurrencies.

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Ethereum

Ethereum (ETH) Whales Are Getting Incredibly Bullish: Details

Published

6 months ago

1 August, 2024

BlockChainGuardian Staff

Ethereum (ETH) Whales Are Getting Incredibly Bullish: Details

Cover image via www.freepik.com

Disclaimer: The opinions expressed by our editors are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not responsible for any financial loss incurred while trading cryptocurrencies. Do your own research by contacting financial experts before making any investment decisions. We believe all content to be accurate as of the date of publication, but some offers mentioned may no longer be available.

Ethereum (ETH) Whales are making major moves in the cryptocurrency market, suggesting strong bullish sentiment despite short-term price volatility. According to crypto analyst Ali Martinez, these big investors have accumulated over 126,000 ETH in the last 48 hours, or about $440 million.

In a tweet, Ali wrote: “Ethereum whales have accumulated over 126,000 ETH in the last 48 hours, worth around $440 million.”

According to CryptoQuant CEO Ki-Young-JuWhales may be preparing for the next move in the market. Ju wrote in a tweet that “whales may be preparing for the next rally in altcoins.” He noted that the volume of limit buy orders for altcoins, excluding Bitcoin and Ethereum, is increasing, indicating that strong buy walls are being put in place.

Ethereum’s recent developments, including the recent launch of Ethereum spot ETFs in the US, appear to have increased its appeal among large holders, known as crypto whales. Ethereum recently celebrated nine years since its inception, and as the ETH network continues to evolve, it is likely to attract more institutional interest.

According to data from Farside Investors, fund flows into U.S.-listed Ethereum spot exchange-traded funds turned net positive daily for the first time since their inception on July 31, primarily due to a decrease in outflows from the Grayscale Ethereum Trust.

Ethereum Price Drops Due to Market Crash

Bitcoin and Ethereum, along with the majority of other crypto assets, appear to be underperforming during Thursday’s trading session.

According to CoinMarketCap dataAt the time of writing, Bitcoin’s price was $64,034, down 2.77% from the previous day. Ethereum’s price is down 4.21% from $3,175, where it was 24 hours ago. Several cryptocurrencies were posting larger losses; Solana’s Dogwifhat was down 12% in the past 24 hours, and PEPE was down 7% in the same period.

According to CoinGlass, price followers have led to the liquidation of $225 million worth of derivatives contracts over the past day.

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Ethereum

Ethereum (ETH) Price Hits $50,000? Target Updated by Analyst

Published

6 months ago

1 August, 2024

BlockChainGuardian Staff

Ethereum (ETH) Price Hits $50,000? Target Updated by Analyst

Vladislav Sopov

Extreme skepticism from Ethereum (ETH) detractors has prompted a veteran researcher to double down on Ether

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Ethereum (ETH) proponent and AI enthusiast Adriano Feria has presented an extremely optimistic Ether price prediction. After the reaction of skeptics, he reconsidered the target, increasing it by 100%. His views are aligned with those of major institutional players, according to recent data.

Ethereum (ETH) bullish hypothesis should get us there: researcher

Ethereum (ETH) could hit $50,000 early in the current cryptocurrency market cycle. At the same time, a “bullish scenario” could push the price of the second-largest cryptocurrency to six-digit values, Web3 and AI educator Adriano Feria told X.

In a tweet shared with his 14,000 followers, Feria stressed that he is confident in the promising prospects of Ethereum (ETH) despite the massive wave of hatred against Crypto X. The doubters will regret their skepticism, the researcher admits:

If you hold ETH today, you are truly part of the global elite, because the bullish scenario for ETH should take us to $100,000. You think this is a joke, but there are real financial institutions around the world that have set bullish targets that are close to this. And no, this is not a joke.

Three days ago, he “increased” the $28,000 per ETH prediction published by Eric Conner, a veteran of the Ethereum (ETH) ecosystem and co-author of EIP 1559.

These ultra-bullish statements come amid growing disbelief triggered by ETH’s weak short-term performance.

The second-largest cryptocurrency failed to take off following the launch of the Ether ETF in the United States. At press time, Ethereum (ETH) was trading at $3,311, down nearly 6% from the local peak set after the ETF launched on July 23.

Insane BTC and ETH Price Predictions Released Every Day

As previously reported by U.Today, in February, Feria noted the rapid increase in popularity of ETH staking based on on-chain data.

In recent days, more and more analysts are sharing incredibly high predictions for Bitcoin (BTC) and Ethereum (ETH), the two largest cryptocurrencies.

For example, US asset management heavyweight VanEck has suggested two scenarios for the price of BTC in 2050.

The most optimistic scenario sees BTC surpassing $52 million per coin, while the $2.9 million mark is considered a “baseline” scenario by VanEck.

About the Author

Vladislav Sopov

Blockchain analyst and writer with a scientific background. 6+ years in computer analysis, 3+ years in blockchain.

I have worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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Ethereum

Lloyd’s of London-backed insurance policies can now be paid in crypto on Ethereum

Published

6 months ago

1 August, 2024

BlockChainGuardian Staff

Lloyd's of London-backed insurance policies can now be paid in crypto on Ethereum

Lloyd’s of London, the three-century-old insurance marketplace, is supporting digital asset protection policies curated on the Ethereum public blockchain that can be paid for natively, on-chain, using cryptocurrency, through Lloyd’s Coverholder Evertas and smart contract insurance provider Nayms.

Not so long ago, any kind of cryptocurrency insurance coverage Finding solutions was difficult. Aside from the efficiency benefits of paying for insurance policies in cryptocurrency and using blockchain to streamline the burdensome paperwork of intermediaries, a consortium of Lloyd’s of London syndicates backing cryptocurrency-native, on-chain insurance shows how far the industry has come in the last two years.

“We’re enabling people using public blockchain infrastructure to interact with traditional, highly regulated, fiat-backed institutions in a transparent way,” Evertas CEO J. Gdanski said in an interview. “Whether it’s paying in USDC or native cryptocurrency, or placing policies entirely on-chain with blockchain helping coordinate between a broker, the policyholder, and insurers, we believe this is a foundational infrastructure.”

Nayms, a digital marketplace where brokers and underwriters connect with crypto capital investment, is a play on Lloyd’s “names,” the collection of individuals and companies that underwrite risks in the historic insurance market.

“The native cryptocurrency expertise we bring to the underwriting process gives us a deep understanding of the risks we insure,” Nick Selby, the company’s head of European underwriting, said in an interview. “It means we’re very explicit about what we do and don’t cover, and we can pay insured claims faster than anyone else.”

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Ethereum

10 Years of Crypto Innovations! Here’s How Buterin Sees the Future of Ethereum!

Published

6 months ago

31 July, 2024

BlockChainGuardian Staff

10 Years of Crypto Innovations! Here’s How Buterin Sees the Future of Ethereum!

2h45 ▪ 3 min read ▪ by Eddy S.

At the EDCON2024 conference, Vitalik Buterin unveiled the future directions of Ethereum, with a focus on innovative application development and wallet security. He presented promising projects and innovative ideas to improve privacy and accessibility for cryptocurrency users.

Ethereum’s new innovations by Vitalik Buterin!

Vitalik Buterin delivered a key speech on the future of Ethereum in the next ten years. He stressed that the priority of the crypto blockchain will now be to develop applications. Some of the already successful applications include decentralized finance (DeFi), decentralized identities (DID) with the Ethereum Name Service (ENS), DAOs and NFTs.

Vitalik also highlighted several promising projects. These include the prediction market Polymarket, the social media aggregator Firefly, the wallet Daimo, and the voting tool Rarimo. These applications illustrate the diversity and potential of Ethereum-based technologies to transform various sectors of crypto.

Vitalik also proposed several innovative ideas to improve the security and accessibility of Ethereum wallets. One of his proposals is to encrypt the private key directly into the cell phone’s chip! Thus turning the phone into a secure crypto wallet. Another idea is to place part of the private key in a regulatory-compliant custodial institution, thus providing an additional layer of security.

Vitalik also mentioned the use of zero-knowledge (ZK) proof technology to link KYC information to the wallet. This approach would ensure the privacy of cryptocurrency users while meeting regulatory requirements.

Security and Privacy: Two Requirements for Cryptocurrency Users

These proposals aim to improve the security and privacy of cryptocurrency users while facilitating the adoption of the technology by a wider audience. By combining technological innovations with practical applications, Ethereum continues to position itself as a leader in the cryptocurrency and blockchain ecosystem.

Vitalik Buterin’s speech highlighted Ethereum’s many advancements and future prospects. With a focus on application development and innovative proposals for crypto wallet security, Ethereum is well-positioned to continue to grow and innovate in the years to come.

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Avatar of Eddy S.

Eddy S.

The world is changing and adaptation is the best weapon to survive in this undulating universe. Originally a crypto community manager, I am interested in everything that is closely or remotely related to blockchain and its derivatives. To share my experience and promote a field that fascinates me, there is nothing better than writing informative and relaxed articles.

DISCLAIMER

The views, thoughts and opinions expressed in this article are solely those of the author and should not be considered investment advice. Do your own research before making any investment decision.

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