Best sites to buy Ethereum
How to buy Ethereum
You may have heard of Ethereum, but you may not yet know what it means and what the difference is between Ethereum, Ethers and other coins. Before we start it is good to know that there are two concepts: “Ethereum” and “Ethers”. With Ethereum we mainly mean the network. Ether is the fuel that keeps the network running: the money. Ethers are used as a means of payment when changes have to be made to the Ethereum network or when transactions have to be carried out. Now that we know this, we can go deeper into Ethereum as a network and the exchange rate expectations for Ethereum and its coins.
What is Ethereum?
Ethereum (actually ‘ethers’) was mainly known as cryptocurrency, but involves more than that. Ethereum also offers the options to implement applications. These are written in the programming language ‘Solidity’. In this programming language, software for the blockchain is written.
With Solidity and Ethereum it is possible to draw up smart contracts. Such a contract records transactions within the blockchain and can perform pre-programmed transactions. With a certain trigger an order can be sent.
The blockchain is therefore not only intended to record money transactions. Also sent and received messages can be stored. Important documents can be immortalized. Ethereum is useful because no intermediary is needed to check and approve transactions. The blockchain itself does this. If the conditions of a contract are not met, the contract is invalid and the described orders will not be executed.
The general public knows Ethereum as a counterpart to Bitcoin. In addition to the technique described above, it is also a cryptocurrency with which (digital) goods can be paid for. Where did you get this cryptocurrency?
Just like when you buy Bitcoin, you can use different exchanges. A number of providers offer the option of exchanging euros directly into Ethers: the currency. Of course, it is also possible to trade other cryptocurrency (such as Bitcoin) for Ethers.
Buying Ethereum through Bitvavo and iDEAL
If you want to buy Ether by exchanging euros, you can do so via Bitvavo. Bitvavo is one of the largest fairs in the country. The convenient thing about Bitvavo is that you can pay with iDEAL. This way you have direct access to Ethers and you can buy and sell. For a transaction at Bitvavo there is a maximum of 0.25% trading fee.
You can buy Ethers at Bitvavo by logging into your account, or by creating an account. You can then transfer euros to your Bitvavo wallet using one of the 8 payment methods. Users can use iDEAL and Bancontact. The euros will then be transferred directly to the account. With Bitvavo you can exchange euros for Ethers. You can then trade, save and use the currency as a means of payment.
The advantages and disadvantages of Ethereum
The main advantage of Ethereum is that the transaction time is much shorter. Payments and other transactions are (approved) quicker. In addition, the platform is based on the blockchain technology. With this technology, so-called DAPPs (decentralized applications) can be built and started. Using the blockchain, these apps run on a decentralized platform. The advantage is that in this way these applications are not under the control of an individual or authority.
Applications that run via blockchain and Ethereum are immune to corruption and unwanted modifications. In addition, no one has exclusive power to take DAPPS offline. As a result, there is no downtime.
Ethereum does have a number of disadvantages: a big disadvantage is that Ethereum has no clear goal. Bitcoin, for example, is mainly meant as a ledger, while Ethereum also wants to be a supercomputer and a generator of smart contracts. Although the Ethereum offers a lot of flexibility, it is less optimized for specific purposes.
In addition, there are not yet many useful tutorials and documentation to get you started with Ethereum. If you want to do more with it than just pay, and therefore want to develop DAPPS, you often have to rely on yourself. The documentation is often outdated or limited. This platform is still relatively new. Developing a contract or an application yourself is therefore still a rather complicated job.
The developers behind Ethereum continue to improve the platform. That’s why ‘Ethereum 2.0’ was also announced: an improved version of the existing platform. The developers say in interviews that they are confident that the second version will be released in 2020.
Ethereum 2.0 promises an even higher transaction speed. In addition, the Proof of Stake wants to use it as a consensus model. The strike contracts are a long awaited feature of this new version.
The idea is that strike will become an integral part of the Ethereum network. With Proof-of-Stake, owners of the currency can lend Ethers for a fixed period of time. The minimum number of Ethers to strike is about 32, with a value of about 6500 euros. The usefulness of staking coins is to validate transactions on the network. It thus contributes to the security of Ethereum as a platform and cryptocurrency as a means of payment. The owner receives a fee for lending out the coins.
Investors look forward to Proof of Stake because they expect a high return on investment (ROI). They have a lot of coins to lend out and expect to receive a high return on their investment. According to the Ethereum team there is room for millions of validators. It is expected that about 10 percent of all available Ethers will be used to strike.
Ethereum rate expectation
In 2018 Ethereum grew the fastest. The idea of ICOs (Initial Coin Offering) appealed to many investors. It indicated how certain funds are raised in order to set up a new coin. In other words: putting a new company or new technology on the market. It created great value for Ethereum.
Around 2019, it was thought that the price for Ethers would catch up with Bitcoin. It didn’t, and the popularity of ICOs declined. As the currency was used for a number of scam cases, further interest declined and the platform’s image declined.
Ethereum 2.0 – The future
That does not mean that in 2020 Ethereum is worthless or that all hope is lost. We are still actively working on new developments and Ethereum is still achieving high positions in the coinmarketcaps. Certainly due to the expected arrival of Ethereum 2.0, expectations are high again. The price is expected to rise when the Proof-of-Stake concept is introduced on the platform. It provides a form of passive income where no mining equipment is needed, but only a wallet with Ethers in it.
Because there is still further development, the prognosis for the Ethereum price seems positive. It radiates confidence that the project is still being developed, despite the setbacks that the developers have had to overcome.
The price of Ethereum
Nevertheless, we must also give an objective warning: results achieved in the past offer no guarantees for the future and ask yourself who has an interest in the predictions. Whoever gives a positive forecast could benefit from the price rising, because they have invested in it themselves. So it remains important to make your own considerations and to realise that trading in any crypto currency carries risks.
Do you own Ethereum and would you like to sell it? This can be done via all kinds of crypto exchanges. In the Netherlands Bitvavo is a widely used exchange. Here you can sell Ethers by logging into your account and clicking on the digital currency you want to sell: Ethereum. Another popular exchange to sell ethics is Litebit.
After clicking on the currency a screen appears. Here you can fill in how much of the digital currency you want to sell. You will see two tabs: buy and sell. Of course we choose the option ‘Sell’.
Under the option ‘Sell’ the seller will see how many Ethers he or she is offering for sale and what the approximate fee will be. Buying and selling Ethereum coins is not free at Bitvavo. At the bottom of the screen you will find the Trade fee (often a few cents).
Ethereum price prediction 2020
With the investment in crypto currency you’ll of course want to make an estimation about the price expectation. Everybody wants to buy crypto which is expected to go up. But what about Ethereum 2020? What is the Ethereum price prediction for this year? We advise you to keep a close eye on the news. On this page you will find for example the latest news ia twitter and you can follow the course table live.
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Frequently asked questions about Ethereum
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