The Ethereum Blockchain is very similar to the bitcoin Blockchain. However, it is much faster and opens up a ton of windows to new possibilities. Did you know that most ICO tokens are bought using Ethereum? Just like the bitcoin, there are Ethereum pairings on all popular exchanges. Despite ETH being more flexible than BTC, the price is much lower, however, it’s catching up bit by bit.
Whenever a user performs an action, all the nodes are updated with the change. A feature, known as ‘ethereum virtual machine’, can read and execute smart contracts (which are self-executory contracts).
Whenever a user performs an action on the Ethereum network, all of its nodes are updated. Ethereum can also read and execute smart-contracts. More info on smart contracts can be found here.
Users can hold and store Ethereum on their phones, computers, or browsers using special wallet software. Let’s take a look at the different types of Ether wallets you guys can use.
Types of Ethereum Wallets:
Remember to always keep your private wallet key safe and never disclose it to anyone. If you do, say goodbye to your assets!
Hardware wallets: These are small physical hardware wallets. Check Ledger Nano S .
Paper wallets: You can write down your private ETH key on a piece of paper and hide it somewhere, using it when you need to.
Desktop wallets: Desktop wallets are really convenient and there are a ton of options available like Exodus.
Mobile wallets: Similar to desktop wallets but for your handheld device, Jaxx works great and runs on both iOS and Android.
How To Buy Ethereum?
You can buy Ethereum using pretty much any debit or credit card on websites like Coinmama, Coinbase, LocalBTC, and your regional exchange websites. You could also try attending local meetups, craigslist, etc.
You can purchase Ether using bitcoins or dollars. If you have some other cryptocurrencies on exchanges, you can trade those for ETH.
What can you do with ether?
You can use Ethereum to build smart contracts, purchase goods, acquire ICO tokens, and use them on exchanges to buy other cryptocurrencies.
Identification and Ethereum Protection:
Each wallet that you use to store Ethereum comes with a public and a private key. A public key is what you use to send and receive ETH and ICO tokens to and from other users. Your private key is pretty much your password, never disclose it to anyone. If anybody asks you for your private key. Say no.
Please leave a comment below if you have any questions!