top of page

If BTC is gold, then Ethereum/ETH is oil

Before purchasing Ethereum, it is good to understand what Ethereum is and what it can do

Source: Youtube

Ethereum (ETH) is a platform that is specifically designed for people to build decentralized applications.

It may be compared to a computer system where people can build many different types of programs, for example, drawing, messaging, gaming, banking, and finance or legal contracts.

Ethereum (ETH) can provide peer-to-peer messaging, generalized blockchain with a built-in programming language that allows people to use the blockchain for any kind of decentralized application that they want to create.

Ethereum (ETH) can be used to build financial systems, data, and other applications that are fully trustworthy and transparent. They run on the blockchain, a secure online system for managing information and contracts.

When information is sent on the ETH network, there is a fee ('gas'). When people send ETH or data for contracts, 'gas' is used up, leading to increased demand for ETH and increased prices.

Bitcoin is often seen as "digital gold" due to its scarcity. ETH can be seen as "digital oil" as it is used by many more applications, and is 'used up' as more ERC20 tokens, apps, and games are created and transferred

Ethereum (ETH) can be purchased through a variety of apps on your phone or computer. The most popular one and available to most people in most countries is CoinBase

Simply click on the CoinBase link above and follow the steps to set up your account, link with your credit card or bank account, and you can easily purchase ETH.

If you would like to "HOLD" your Ethereum (ETH) for the longer term, similar to having a savings account, you can use one of the following applications:

1. Celsius is a platform that works and operates similar to a bank, where you can deposit and earn interest, or borrow against an asset to receive cash or coins. Interest rates may vary from 2% up to 10% or more, depending on how stable the coin is seen to be. Please use the above link to create a new account and you may receive up to $20.

2. MCO/CRO is a place where you can earn interest on a wide variety of coins, as well as apply for a crypto debit card. This operates similar to a pre-paid Visa card, where you top up before use, however, you can choose to top up with cash or crypto. For example, you can transfer Ethereum (ETH) to the card and spend it like cash, or let it sit in the account and earn interest. Rates again vary from 2% up to 10% or more. Please use the above link for new investors to receive up to $50 when creating a new account.

If you have any questions, please feel free to get in touch via the "Contact Us" section of the homepage and we will do our best to assist you.

Single post: Blog_Single_Post_Widget
bottom of page