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In recent years, the global cryptocurrency ecosystem has grown exponentially. Not only have people become more aware of the trading system, but they have also actively started investing in different types of cryptocurrencies.

Most people have heard of Bitcoin, the most popular cryptocurrency. However, Ethereum is the second best (and in some cases) preferred Bitcoin alternative. For several years now, many companies have been actively using Ethereum to conduct online transactions. In this blog, we are going to discuss this cryptocurrency in depth and how you can Buy Ethereum light. In the last part we will discuss how different this currency is from Bitcoin’s:

What is Ethereum Cryptocurrency?

Ether (ETH) is the currency that denotes Ethereum. Ethereum is the second most popular cryptocurrency that runs on a blockchain and smart contracts. This blockchain is secured by a group of miners who work together. It is proposed and developed by Vitalik Buterin in 2013. In 2015, however, Ethereum’s public network came into being. Ethereum uses the same technology as Bitcoin. However, trading is done through a token system known as Ether.

In contrast to Bitcoin and Litecoin, the two archenemies, Ethereum has much higher industrial and intrinsic values. In order to trade Ethereum, you need a digital wallet. In addition, you need different central and decentralized switching centers. In recent years it has managed to attract a lot of attention among investors. This is mainly due to the rise in valuation, popularity, and the increasing number of exchanges.

There are different types of exchanges on the internet. You can trade on any of these exchanges to buy or sell Ethereum cryptocurrency. One of the main reasons people are more interested in buying Ethereum is because of its affordability. Compared to Bitcoin, Ethereum is cheaper.

Bitcoin is currently priced at $ 2,700 per unit, while Ether was only $ 320. So you can see that trading Ethereum has many advantages compared to other cryptocurrencies. Ethereum’s total market cap has increased from $ 151.4 billion to $ 1,323 billion, according to CointMarketCap.

How do I invest in Ethereum?

As mentioned above, you can only buy Ethereum through decentralized exchanges and wallets. You can buy a wallet of your choice.

There are basically four types of wallet available:

  • Hard wallet to keep your cryptocurrency safe (offline)
  • Mobile application-based access from anywhere in the world
  • Web wallet for accessing and managing your account through a secure web browser
  • Desktop application if you want to manage your money through a computer system or laptop

So the first requirement is to locate the nearby exchanges to see if they are applicable or not in your area. After you have selected and completed the registration process for purchasing the Ether, you can get started. When trading ether, make sure you treat it as currency and not stocks or shares. This is one of the most important things to keep in mind when dealing with this cryptocurrency. The next step is to approach the exchange for buying the ether.

Depending on your choice and the risk you want to take, you can purchase the cryptocurrency. You can then withdraw the currency and transfer the amount to your bank account or wallet after the trade is complete. As simple as that.

Conclusion

Whether this is your first or 10th time investing in Ethereum, you need to be careful about your decisions. While investing in Ethereum is not risk-free, it is well worth your time and effort. Corporations and individuals today treat this cryptocurrency as reliable. And that’s more than enough to make it one of the most trusted cryptocurrencies out there. However, not everything most people do can be certain at all times. Ultimately, it is the internet that we are talking about. There are no regulations for such investments. So you should be careful before proceeding to buying or selling Ethereum or any other cryptocurrency.

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