What is Ethereum - Marvin Germo

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What is Ethereum

By: Marvin Germo | March 13, 2021

Aside from Bitcoin, where else can you put your money? There a couple of other options in the crypto market. You can also invest in Ethereum, Litecoin, Dogecoin, BNB, and Cardano. They are the popular digital monies next to Bitcoin. So, if you are planning to put more money in crypto, I suggest you diversify your money. Put some in Bitcoin, Ethereum, and Cardano. To invest in Etherium, click this. 

I’ve previously posted a blog about Bitcoin. You can read it here. Now, let’s talk about what Ethereum is and how it differs from Bitcoin. Newbies who are interested to invest in Crypto, read this blog to know more about ETH!

ETH’s history

Ethereum was born in 2013 and created by programmer Vitalik Buterin. Like Bitcoin, ETH is a form of digital money that is being mined using some technologies and the internet. ETH became live in 2015 and there were 72 million coins pre-mined during that time. There was one time in the history of ETH when someone hacked the system and stole $50 million of it. But, this digital money continued anyway. There also stages when the creator partnered with different third-party programmers to mine the currency. To date, ETH is the second-famous crypto next to Bitcoin.

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How ETH works

ETH works like any other cryptocurrencies. You use real money to buy it. Right now, it is traded at $1,771. This means that for you to own 1 ETH, you need to buy it at this amount. Most platforms don’t require you to have $1,771 just to invest in ETH. You can have a $100 and start creating a wallet so you can exchange it for ETH. You can also gradually increase your investment if you want to own 1 ETH someday. Like Bitcoin, ETH is digital money. You can’t use it yet to pay for your groceries and other shopping items since not all businesses are open to accepting this kind of money. But I believe that it’s only a matter of time before the whole world accepts that cryptocurrencies can also be circulated as well.

Earning through ETH

Since ETH is being traded, you can earn from it when the price increases. It works like stocks and forex. For example, you invest in ETH when its price is at $1,700 then after a month, its price increases to $1,900. You already earned in this scenario since there’s a price increase. Unlike stocks, there’s short-selling in crypto. This means that you can bet that the price will go down, instead of going up. So when you sell ETH at the price of $1,700 and after a month the price goes down to $1,600, then you already earned from short-selling ETH if you close your trade.

I can say that crypto is a good investment if you know when to enter the market. Just imagine being able to buy ETH at around $700 last month. The price of it is now $1,700. If you have a massive investment with ETH, you are surely earning big now.

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