Despite the recent dip in the value of the major cryptocurrencies, the future of digital currencies remains very bright. In fact, a report published on the Independent predicts the value of Bitcoin to once again explode as newcomers and speculators enter the market.
Bitcoin is the first digital currency most people think of, though there are in fact many others, with one of the most promising in terms of growth being Ethereum.
Ethereum is proving to be one of the most favorable technology investments of all time. It was created in 2015 and since then has grown by over 1000%. To better understand what it is, Ethereum is an open source network, much more than just a digital currency. Therefore, when you purchase Ethereum you are investing in the network, and placing money into a unique transformational platform, with many of its greatest applications still to come.
The digital coin of Ethereum, known as “ether”, could be speeding up the decentralization of the world economy, and has the potential to influence many other industries. Ethereum is backed by a variety of Fortune 500 companies, who met in 2016 to discuss and join forces on developing Ethereum’s network technology. The Ether trading coin can be volatile, which can serve as an asset for traders.
Ethereum Classic is the original version of the Ethereum blockchain from which the newer version was created. The newer version adopted the name Ethereum. The blockchains are not compatible, and updates on one will not affect the other. These changes led the way for the creation of the new crypto coin with a different name, Leger, price and market cap.
A popular question among crypto enthusiasts around the globe has been – How can one make money investing in Ethereum?
In this article, I’ll explore that topic in depth; what Ethereum is, how to purchase it, and two strategies for profiting lucratively from the coin.
What is Ethereum (ETH)
Ethereum was created and introduced to the world in 2013 by Vitalik Buterin, and went live in July 2015. Developers were looking for a way to differentiate from the Bitcoin currency, and make it to be exclusive with properties stand out in a market of its own.
They developed a new approach with a new platform and a more common script language. Their software allows customers to run any programme, which makes the Ethereum blockchain process and applications much more efficient than before. With Ethereum, developers can build a new type of software called “decentralised application”. This codes technology is not controlled by any individual or central system.
Ethereum is the second most popular digital currency in the world after Bitcoin (BTC) with a market capitalisation that is now worth over 62 billion USD.
Its token is referred to as Ether (ETH). Technically, you do not purchase or sell Ethereum, but rather Ether, which is the currency. At the time of writing (April 2018), Ether (ETH) is trading between $600-$665 compared to some three (3) years back when it traded for as low as $1.
Before you consider investing in Ethereum, you must first understand its concepts, and most importantly, have a digital wallet to securely store your coins.
For newbies, I will quickly show you how to create a safe and secure Ethereum wallet.
Creating a safe and secure Ethereum wallet is very important because it will allow you to store and spend your digital currency without fear of hackers or suddenly losing access to your coins. There are a lot of platforms to choose from, but I have carefully picked out the most popular ones.
1). Top Cryptocurrency service providers that offer you the opportunity to own and control an Ethereum Wallet:
These digital currency service providers all offer multi-cryptocurrency auto-generated Wallets with a high level of security. This means you do not have to create a separate Ethereum Wallet to securely send/receive or store your coins. Visit any of them today to register and access their services.
To buy and sell Ether (ETH) globally, there are several platforms you can sign up on. They offer diverse methods of payment e.g. Bank transfer, Bank tellers, Credit/Debit cards etc.
Some of them are:
Buying and selling is mere business, but making some profits is good business. The big question is: How do you make profits from Ethereum?
There are two basic steps towards earning significant profit buying and selling Ethereum.
1). Become a speculator – Buy and Hold
Just like BTC, Ethereum is fast-growing, its popularity is increasing and its value is rising. Back in 2015, Ethereum traded for just $1 but now it is trading between $600-$665. Imagine if you had purchased 100 Ether (ETH) in 2015. Do the math and see what you would have had now.
“Buy and Hold” is the most popular investment strategy for ETH. Buy as much as you can afford via any of the platforms we have already discussed, leave it in your Wallet and watch the value increase.
This concept is known as “Holding” in the crypto world. Ethereum worth $200 now will definitely be a huge sum of money in 2 years. Take a small step, buy at a low price, keep it, and watch your coin grow.
2). Become an Ethereum Merchant
Cryptocurrencies are extremely volatile and can be a very profitable investment for beginners and professionals. The demand for Ethereum globaly is on the rise, and this presents an opportunity in itself to make money. You can choose to sell Ether (ETH) in person or join the merchant’s online community.
The simple logic here is “Buy Low, Sell High.” With market study and research, you will be able to recognize dips and take due actions. Acquire when the price is low and sell to clients when the price is high.
You’ve probably read about all the bitcoin millionaires, and wonder if you’ve missed the boat. Cryptocurrency is still very much in its infancy, and as such, still has a lot of room for growth and speculation.
Like any investment, do your research, invest wisely, and you could someday make a big hit from buying and selling cryptocurrencies like Ethereum.
What are your thoughts on how to make money buying and selling Ethereum globally? Let me know by leaving a comment below.
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