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Ethereum Virtual Currency: What it is, what it is for and how to use it

1 de July de 2021

What is Ethereum? How to get Ethereum? What is the Ethereum cryptocurrency for? Where can I save the Ethereum cryptocurrency? The world of cryptocurrencies is becoming more and more popular, it made its way with Bitcoin more than 10 years ago. In case you don’t know what are cryptocurrencies? These are virtual currencies with which it is possible to carry out transactions easily.

Even though Bitcoin It is the cryptocurrency that has achieved the greatest strength and greatest value, followed by numerous cryptocurrencies or cryptocurrencies. As is the case with the virtual currency Ethereum. Which can be had in a simple way if you have a virtual wallet.

Although Ethereum is a cryptocurrency, it does not serve the same purpose as Bitcoin. If you are new to the world of virtual currencies and want to know more about the Ethereum currency, today at seehowitisdone we bring you a complete guide.

How does the Ethereum platform work?

The platform of the virtual currency or cryptocurrency Ethereum it works as a platform that has an open source. This is based on the same technology as blockchain.

The blockchain of the Ethereum currency or platform is similar to the Bitcoin blockchain in that it records and stores a history of transactions.

In the same way, participating developers can build applications that are decentralized. OR what is known as “Dapps”. Dapps are open source programs that use blockchain technology.

Registering on the Ethereum platform is extremely simple, you only need to accept the virtual contract agreements. You can recharge your account with wallets such as Paypal, for this you just have to log in to your paypal account and load the money to the indicated address.

How to manage the virtual currency?

Ethereum is designed so that anyone can carry out transactions on its virtual platform. However for this it is necessary meet a series of requirements or conditions.

The conditions or requirements to carry out transactions in Ethereum they are in the Smart Contracts. A Smart Contracts are transactions where it is not necessary to know the seller or buyer, in the same way it is not necessary that there is a “Trust”.

If the buyer or seller is illegitimate or unsafe, there will be no problem since in any case the conditions of the contract are not met, so the transaction will not happen. Thanks to this Ethereum has a decentralized and “dehumanized” network.

To buy Etherum the amount or value of the currency It is usually displayed in currencies such as USD, GBP, or EUR. The transaction is based on selling a quantity of currencies and thus buying Ethereum. After buying the Ether, it is necessary to have a virtual wallet where you can deposit the newly purchased currency.

One of the benefits of buying Ethereum is that in addition to being a backed cryptocurrency, its value increases in the same way that Bitcoin increases.

What is the Ethereum cryptocurrency and what is it for?

what is ethereum for

Ethereum is more than just a common cryptocurrency. The objective of this virtual currency goes beyond being used as virtual money. Ethereum has as its main utility be fuel for a computer global in scope.

Ethereum virtual currency is creation of Russian Vitalik Buterin, the vision that Buterin had with Ethereum is the way he hopes to see the internet in the not too distant future. He expects the Internet to change its servers for computers with a global reach or nodes. These nodes must store the corresponding information of the Blockchain chain.

Ethereum was born giving rise to a confusion, at the time of its launch it was established as a platform and the virtual currency of this platform is called EhterHowever, today the name Ethereum is associated with the virtual currency. From this point on, the Ethereum and Bitcoin currency is no different, buying and selling Ethereum is as simple as buying and selling Bitcoins.

What is the difference between Ethereum and bitcoins?

One of the most notable differences between these cryptocurrencies is that Ethereum is created with a unique programming language called solidify, with it you can make smart contracts fully programmed by a computer. So you save yourself from lawyers in real life. As we know Bitcoins have a total of 21 million available coins at their disposal, but these are limited by not being able to increase.

However, Ethereum has 107 million coins available in the market, and these can be increasing all the time. Ethereum is a platform, there you can create tokens in Bitcoins you can also do it but with a second base platform.

What is the price of Ethereum?

The price of Ethereum depends on your daily quote. However, it is currently positioned at $ 2103.53. That is why lately it has become a cryptocurrency that promises in the market. In addition to its extensive functions in its operating system and its ease of payment. And not only this but it guarantees total security in the transactions of its users, which makes it a very reliable and profitable cryptocurrency for its users.

How to buy and invest Ethereum?

To buy one of the basic applications for these operations is Coinbase, definitely reliable when making your transactions. Now when investing in Ethereum you can do it through an exchange specialized in the acquisition of cryptocurrencies. One of the best known in this market is StormGain, a secure application to obtain rewards of this type.

For what purpose was Ethereum designed?

This cryptocurrency was designed in order to decentralize the web thanks to the introduction of a series of components that promise in the 3.0k web. These components are: the publication of totally static content, dynamic messages, secure and reliable transactions without requiring third parties, and a safe and functional interface.