What you need to know about Ethereum
Tags: Ethereum, Smart Contracts, Blockchain, Cryptocurrency, Business

An overview of earning opportunities, wallets, and cryptocurrency features

Let’s start with the fact that Ethereum is one of the largest platforms with the ability to run decentralized applications — the so-called dApps. With a smart contract system, users can make purchases and exchanges, as well as sell services without any intermediaries involved.

This is precisely its most valuable advantage over the renowned giant Bitcoin. Unlike the Bitcoin network, whose internal cryptocurrency, BTC, is determined by a certain number of coins, the cryptocurrency of the Ethereum platform does not have any restrictions on the amount of ETH (Hello Federal Reserve!)

ETH has the second largest market capitalization after Bitcoin, which is actively continuing to grow. In December 2018, ETH was worth $86, and now, in December 2020, the price of the coin has exceeded $600.

What is the reason for this growth? Stability, smart PR, even the very perception of cryptocurrency. Now Ethereum, along with Bitcoin, is breaking records in terms of growth and development, and has long been out of line with other altcoins.

As former Messari analyst and trader Chao Wang says, “Everything happens on Ether.”

One of the main reasons is dApps. The open source code of the platform makes it possible to create various applications on the Blockchain. Now you can find a huge variety of games, exchanges, casinos, affiliate marketing services and trading platforms which bring a flow of investments.

There is also a hypothesis according to which one can see a direct correlation between the value of BTC and the value of ETH. Given that, as according to leading analysts, BTC will inevitably grow, it will automatically pull ETH along with it. However, we can see growth in other altcoins as well.

And, of course, don’t forget about the recent launch of ETH 2.0, with finances actively flowing in it. Users are interested in staking, the profit from which, according to Vitalik Buterin, could potentially range from 2–20% per annum. ETH 2.0 should also solve the scalability issue. If the throughput is 15 transactions per second now, then after the transition, the creators promise the ability to conduct 1000 transactions per second, thus speeding up and reducing the cost of transactions, while attracting more investors and potential projects.

By the way, after the recent growth in the cost of transactions on ETH, many dApps switched to the TRON protocol, but Ethereum is not losing ground. It remains the first platform in terms of transaction volume, and after the launch of ETH 2.0, its further superiority can be predicted.

What attracts users who invest in dApps? Of course, the opportunity to make money. Passive income is the main goal of participants in various applications. Many dApps have a minimum entry threshold of $5 and more.

By fulfilling various conditions of applications, for example, completing quests, casting spells with a pretty witch (LiteBringer), playing dice (SeriousDice), or simply inviting new users (FORSAGE), users accumulate tokens, which are then exchanged for fiat money.

Also, the trick is that the longer the tokens earned by the user are stored in the application, the more they multiply. And if average users can withdraw, say, $100 per week, then real toughies after three months or six months of active work can buy cars and apartments.

The first thing you need to work with ETH is a wallet.

Of course, there are many good wallets with different functions: mobile apps that can be downloaded from the AppStore and Google Play, desktop versions for laptops and PCs, web wallets that work through an extension in the browser.

Based on user experience, we recommend using proven and convenient services:

Coinbase (mobile app)

TokenPocket (both smartphone and desktop versions)

Metamask (browser extension)

In general, ETH wallets are certainly an important and even basic thing for any activity, be it trading on the exchange, DeFi games, or making money on the Internet.

These are the most basic things you need to know about Ether.

Make further research, get inspired, earn, and of course remember that the future belongs to the crypto!