The main value of the Ethereum network is not only its tokens but also the opportunities provided by the platform itself. This project is a universal tool for launching decentralized applications based on smart contracts.
Purpose of Using Ethereum
The Ethereum blockchain provides everyone with the opportunity to take advantage of all the benefits of distributed ledger technology when solving specific problems. After the launch of the Ethereum platform, there is no need to create your own network. For a relatively small fee, you can launch your project using a ready-made solution.
The ability to run your own applications has significantly expanded the scope of blockchain technology. Thus, every experienced programmer can develop his own application within the Ethereum ecosystem, following the established algorithm. The system guarantees protection from failures and cybercriminals, absence of censorship and interference from external regulators.
Based on the Ethereum network, you can:
- Launch smart contracts of any complexity to manage supply chains.
- Create decentralized trading platforms.
- Develop applications of any type.
- Digitize any physical assets.
- Manage customer identification and document authentication services.
The native Ethereum token has been a success since its launch. The coin confidently and consistently holds second place in the ranking of the most capitalized cryptocurrencies. ETH is actively traded on almost all cryptocurrency exchanges, allowing direct conversion to BTC on many of them.
Where is it Safe to Buy Ethereum?
There are many ways to purchase Ethereum, but the safest option is to choose a reliable platform with a strong reputation rather than experimenting with your own wallet. The platforms that support Ethereum are varied and can be classified according to different criteria. Among them are decentralized and centralized, with or without the support of fiat money, spot, and derivatives, as well as those that require identity verification and those that provide anonymity. You will have to look for a convenient BNB to ETH converter either on large CEX or in fast crypto exchangers.
Not a single rating of cryptocurrency exchanges is complete without mentioning Binance. This platform leads in terms of trading volume and liquidity. Binance supports a variety of Ethereum trading pairs with a variety of fiat and digital currencies, as well as staking and other earning methods.
However, among the significant shortcomings of the site, the mandatory verification procedure should be noted.
Bybit is one of the leading and highly liquid derivatives exchanges with integrated spot trading. The exchange does not require verification to start trading. The platform provides convenient tools for both beginners and experienced traders and also offers an extensive range of educational materials and the ability to use a demo account. Baybit also supports the purchase of cryptocurrency using bank cards.
The decentralized exchange provides liquidity for major stablecoins such as DAI, USDC, USDT, FRAX, and TUSD. In addition, swaps are available between the wrapped tokens wBTC, wETH, and stETH (as a derivative of Lido staked ETH).
The standard commission for all pools is 0.04%. Half of this fee goes to liquidity providers, and the other half goes to veCRV holders.
At the time of writing this article, information about countries whose citizens have limited access to the service was not provided. However, it is worth noting that users from countries subject to US financial sanctions may face geo-blocking.
Uniswap is one of the leading decentralized exchanges and one of the first platforms to gain immense popularity in the cryptocurrency market. It functions as an automated market maker, facilitating interactions between buyers and sellers to create a liquid market.
The Uniswap protocol allows for direct exchange of tokens using smart contracts. The amount of commissions depends on the specific asset and can range from 1% to 0.05%.
To interact with decentralized platforms, you only need a compatible wallet.
Instant cryptocurrency exchange service LetsExchange provides an excellent option for ETH to TRX swap, as well as transactions with 4000+ other coins using cryptocurrency or fiat. The platform provides access without the need for registration and does not provide wallet services. This means that by using LetsExchange, you do not put your coins or personal information at risk. The platform interface is as simple as possible; there are no commissions, and there are no restrictions on the number and volume of transactions.