What is Ethereum?
Anyone interested in cryptocurrency investment has heard of Ethereum. You probably know that this is the second most popular cryptocurrency and the first alt-currency. But what Ethereum actually is? Ethereum appeared on the market in 2015. It was invented by Vitaly Buterin, who first wanted to create a cryptocurrency based on the mechanism of Bitcoin and would be pretty similar to it. However, he had to change the concept, so what we know as Ethereum today has, in fact, very little to do with Bitcoin.
Ethereum vs. Bitcoin.
So let’s compare Bitcoin and Ethereum. Are they similar, and what are their pros and cons? Regarding the mechanism of work, the most significant difference is that Ethereum allows you to create contracts (called smart contracts) which means that you can perform transactions under specific conditions. While Bitcoin can be referred to as a money substitute, Ethereum’s goal is to create new financial mechanisms. Now let’s talk about Ethereum vs. Bitcoin investment.
The biggest difference here is that Ethereum’s emission is not limited (whereas Bitcoin can be produced only up to 21 mln coins). It may seem like an Ethereum con since most investors appreciate Bitcoin for its limited emission and, therefore, impossible inflation. However, suppose you go back to the mechanism of its work and consider the goal of this currency. In that case, it will become evident that those limitations are not threatening. What about Ethereum vs. Bitcoin price, and what is Ethereum worth? Obviously, the cryptocurrency market is changing really fast, as is the value of cryptocurrencies. The approximate difference in the worth of Bitcoin and Ethereum today is around 15 times. Still, Ethereum’s price will probably continue growing together with its popularity. One of the biggest advantages of Ethereum’s investments is that both cryptocurrencies(Bitcoin and Ethereum) show the trends in the crypto market. However, with Ethereum, it happens with a slight delay. This means that you can track the changes in the prices of Bitcoin and try to use this analysis for your Ethereum investments.
Ethereum wallet is similar to other crypto wallets. It allows you to track your account and perform transactions with your coins. It is basically a place where you “store” your Ethereum. So it is crucial to take care of the safety of your passwords and the software you use to access your wallet.
How to buy Ethereum
The process of buying Ethereum is pretty straightforward and similar to the process of purchasing Bitcoin. One of the easiest ways to buy it is to use a crypto exchange. Since it is the second most popular crypto after Bitcoin, finding such a platform would not be a problem. However, I suggest you research the exchange you will use to make sure that it uses transparent mechanisms and offers attractive fees.
Ethereum exchange in Prague
If you are looking for a crypto exchange in Prague, then you are lucky because there is no need to waste your time on such research. The place that I would recommend is B2Cash, which I believe to be the best place for crypto exchange in Prague. As I have mentioned before, you need to take into account the exchange fees and the clear mechanism of work the service uses. And these two characteristics make B2Cash the most attractive exchange in Prague, which allows you to buy Ethereum and sell it, and exchange USD (and some other currencies) for Ethereum.