|Circulating Supply||104,510,419 ETH|
|Max Supply||0 ETH|
Due to the popularity and excitement that Bitcoin created, a number of other companies decided to jump on the blockchain bandwagon. These companies all aim to create a variety of different services and applications using this blockchain software and while Bitcoin still rules the roost, coins such as Ethereum have also started to grab the limelight.
Ethereum has a market cap of $92,101,063,352 and a current trade volume of $5,437,120,000 which makes it one of the largest cryptocurrencies around. It currently sits at a price of $945.75 which when you consider the low value it launched with, you just know there is a number of traders out there sitting on a fortune.
That is all still well below what Bitcoin delivers in numbers and while the BTC is still the number one cryptocurrency, Ethereum is certainly shaping up to be its biggest competitor on the currency exchanges.
Take a read through the rest of this review and you will learn more about this cryptocurrency, where you can find it and where you can store it.
What is The Ethereum Coin (ETH)
First launched back in 2014 by a guy who had previously worked as a Bitcoin developer, Ether is the system of currency of Ethereum, a blockchain -based computing platform that is completely open-source. Being decentralized, Ethereum shares a similarity with Bitcoin and many other cryptocurrencies in that it offers increased privacy and more control for whoever owns it.
As a peer-to-peer cryptocurrency, ETH, like Bitcoin, is a currency that is not administered by any government or financial institution. It is this lack of red tape and middlemen that allow transactions to be so much quicker and cheaper.
While many people are excited about Ethereum due to its currency, many experts actually feel that the main reason to be excited is actually the potential of the Ethereum platform itself.
Whats Special About Ethereum (ETH)
There is plenty that could be claimed to be special about Ethereum, it wouldn’t be one of the major cryptocurrencies if it did not have something about it.
Ethereum is known for creating their EVM and Smart Contracts concepts that with the former being lauded by many as the greatest innovation that Ethereum has created. This allows developers to create applications on the blockchain, instead of having to perform the painstaking task of creating their very own blockchain.
Ethereum and Bitcoin are completely different in both their purposes and visions, so comparing them like for like will be a little unfair. That being said, this cryptocurrency does have some advantages over Bitcoin.
- Quicker Transactions – Etherereum is known to be quite faster than Bitcoin. This is mainly because the fund-mechanism has been designed in such a way that allows direct transfers between two separate accounts. A whole transaction on Ethereum takes just 20 seconds to complete.
- More Secure Transactions – Because Ethereum stores all codes created by users in distributed systems, there is no way for this code to ever be manipulated. This is mainly down to the Smart Contracts, a concept that was created by Ethereum.
- Cheaper Transactions – Ethereum is smaller and cheaper when making transactions compared to Bitcoin. This enables all of the transaction fees to be cheaper as well.
Where to Buy Ethereum (ETH)
With the second largest market cap that can be found on the many cryptocurrency exchanges, Ethereum is a currency that will be able to be traded on numerous exchanges. That means that there will never likely be a time that you cannot find a cryptocurrency exchange that allows for the trading of ETH.
Five of those places can be found below:
This crypto-to-crypto currency exchange offers excellent fees and has an extensive list of currencies that can be traded. With no fiat currencies accepted, it means that there is no need to verify your account.
Kraken is one of the oldest currency exchanges around and also one of the most reputable. We also like the selection of other cryptocurrencies that can be traded here and the competitive fees that it offers traders.
Coinbase is another popular exchange among users and with more than 30 fiat currencies able to be used and some of the more major cryptocurrencies available too, this is one of our favourite exchanges.
If you want to be able to deposit onto a cryptocurrency exchange using a credit card, Gate.io is probably one of your best options. It is fairly new but this exchange has already built up a solid reputation among traders.
As one of the oldest and safest cryptocurrency exchanges, Bitfinex makes an excellent place for you to trade ETH. There are some competitive fees here and you can also use USD to deposit into their exchange.
Investing in Ethereum (ETH)
Ethereum is more than just a currency as its Ethereum platform has shown that it has huge potential. If you considering purchasing any ETH and are a firm believer in the platform that they have created and will no doubt develop, this coin should make for a good long-term investment.
If you are looking to trade the currency for what it is in order to play the markets, you will also find that ETH and its volatile fluctuations are a good coin to work with.
Do I Need an Ethereum Wallet
Yes, if you value your cryptocurrencies and what to keep them as safe as possible, you will definitely want to consider getting yourself a third-party wallet to store them in. If you have been following the cryptocurrency industry for some time, you will know that there have been some major hacks at some cryptocurrency exchanges over the years.
We strongly recommend that you do not keep your currencies in the wallets at these exchanges for long periods as if the exchange is hacked, you could lose your currencies and these are rarely paid back. Imagine losing your whole portfolio in one go?
Instead, take them out and store them in your own wallet as they will be far safer there.
- Hardware Wallets
There is no better place to keep your cryptocurrencies other than offline and in your own physical possession. Hardware-based wallets are the way to go in order to do this as they offer you the ability to literally keep your currencies and their private keys in your pocket. There is no safer place for them to be.
Ledger Nano S
The Ledger Nano S is the most popular hardware-based wallet available due to its excellent security features, the number of different cryptocurrencies that it can store and its price. At around $65 it is one of the cheapest but it is also considered one of the best. We highly recommend checking the Ledger out if you want a good quality hardware wallet.
The KeepKey hardware wallet comes in at about $99 but is larger and is almost like a miniature computer rather than just a storage place for your currencies. It also has a more solid feel and is made of aluminium for the body. The KeepKey is definitely a good option for the storage of your portfolio.
- Software Wallets
As for software wallets, they certainly do not offer quite as much protection compared to hardware wallets but they are definitely the next best thing. These can generally be found for free initially but will have some kind of fees associated with the storage you need. Check out a couple that we think you should take a look at:
Exodus would be a better option if you are looking to store a selection of different currencies in your wallet. Along with ETH, it can also store the likes of BTC, Dash, Doge and LTC as well. This wallet is only available to be used with desktop computers, however, so if you want to use mobile devices you might want to look elsewhere.
If you want a wallet that will also allow you to store your Ethereum offline, ETHAdress is a wallet that allows you to do so by printing off a paper wallet. These printouts will contain both public and private key pairs and will allow you to keep both safe and away from the hands of online hackers.
Pros & Cons
Ethereum is easily one of the most well-known cryptocurrencies you will find on the many exchanges and it has seen its value increase massively in the last year or so. This makes it a definite consideration for your portfolio.
Below are the pros and cons we feel that the Ethereum coin possess:
- Payment system has real potential
- Faster, cheaper and more secure than Bitcoin
- Many exchanges allow the trade of ETH
- High volatility
- Lower recognition compared to BTC