What is Ethereum?
The Ethereum network is a blockchain-based technology that is meant to replace traditional currencies, i.e., cash transactions and fiat money. But it’s not only about payments. Ethereum’s online community and ecosystem include tens of thousands of users, developers, miners, HODLers, and just enthusiasts.
What to do after buying Ethereum
After a person receives ETH in their wallet, what’s next? Here are the ways to spend your newly acquired digital money.
Trade with Ethereum
Excited to start trading? Hit the decentralized exchanges (DEX) and open your first trades. If you buy and sell in a short amount of time, you can profit even from the tiniest fluctuations.
Some investors think that Ethereum is one of the most promising investments right now. Hold ETH in a secure wallet, and sell for a higher later price. Make sure to thoroughly research wallets to find the best one.
There are so many use cases for ETH, like paying for services at businesses and stores that accept crypto. One of the newest and most interesting opportunities is the non-fungible tokens marketplace, where you can pay with Ether.
As long as you have tokens, you no longer need cash. You don’t even need to reveal your identity to the recipient - they can receive ETH with your anonymity protected. But you can also effortlessly send Ether to friends and family.
Donate tokens to charitable funds to support their cause; some vendors even provide special donation software. Some of the examples of charities are Giveth, The Water Project, Cool Earth, and Save The Children.
Why buy Ethereum?
Traders can raise a decent amount of funds through trading on exchanges. But it’s not the only way Ethereum can be of use to you. It is also a unique platform where developers can build decentralized apps within the Ethereum ecosystem.
Is Ethereum a good investment?
Ethereum is one of those cryptocurrencies that will always be a good option to invest in. Since ether coin is an engine that powers a lot of decentralized applications (dApps) and blockchain-based projects, it will probably be in great demand for a long time and possibly rise in value.
Is Ethereum reliable?
While Ethereum is not on the same level of adoption and acceptance as traditional currencies, it has a strong underlying value. If you have plans for investing, there is a risk that you need to accept. But overall, the price is not as volatile as with BTC.
Where to store your Ethereum?
Your best option is a special online crypto wallet. Some information can be publicly available, such as your ETH address. But if you want to keep your capital secure, never close your private key or save it inside the payment app.