ETH Price History
Ethereum is one of the biggest names after Bitcoin. A large number of people consider Ethereum as a smart investment opportunity. Over the years, it has seen several ups and downs. In recent times, the growth of Ethereum has been rapid.
Ethereum got listed on major cryptocurrency exchanges on 7–8th August 2015. The currency was at $2, and it crossed $3 for a while. However, the price of the currency flattened for the rest of the year at $2. In mid-June 2016, the currency reached its all-time high at $20.5. However, after a hack, the Ethereum price collapsed to $8. The year 2017 was a remarkable year for Ethereum as it reached $840 this year. On January 13, 2018, its price reached an all-time high of $1,432. Currently, Ethereum is trading at around $183.57.
Key factors to buy Ethereum
For new cryptocurrency buyers, purchasing Ethereum can be very difficult. To boost your chances of earning a profit, you should always buy Ethereum when the market is bearish. There are many ways to buy Ethereum:
Credit and debit card
Credit and debit card purchases are the most popular method for buying and selling Ethereum.
Bank Transfer
Bank transfer is suitable for both small and large purchases of Ethereum. Buying Ethereum with bank transfers is very easy as it needs a minimum set up.
Paypal
PayPal allows you to buy relatively small quantities of Ethereum. However, the available market is limited to PayPal.
Cash
LocalCryptos is the most secure exchange for the cash buying of Ethereum. Buyers just have to pay a single escrow fee of 0.75% to buy Ethereum with either cash via bank transfer or cash in person. Anyone in the world can cash purchase Ethereum, and the size of the trade ranges from a few dollars to thousands.
There are also many Ethereum wallet options available. For small quantities of Ethereum, the cryptos can be left on the exchange from where it was purchased. For large quantities of Ethereum, the investment can be kept in the buyer’s own secure wallet.
Cryptocurrency vs. Fiat currency
Fiat currency is a physical currency backed by the central government, while cryptocurrency is not a legal tender, and it is not regulated by any central authority. Cryptocurrency is a digital form of currency that has many advantages over fiat currency. Another benefit of using cryptocurrency is that the transaction carries no personal information, which reduces the chances of identity theft. Digital currency cannot be counterfeited or reversed arbitrarily by the sender. Traditional banks also charge fees to process the transactions but as the digital currency is exchanged on the internet, there are no transaction fees. As everyone now has access to the internet and smartphones, cryptocurrency is available and accessible to all.
However, there are downsides to cryptocurrencies as well. Cryptocurrencies are not as safe as paper currency. In recent years, many cryptocurrencies have failed, and the future of digital currencies still remains unpredictable. As it is decentralized, Cryptocurrency can also be used in illegal activities like purchasing drugs or pornography.
How to choose a cryptocurrency wallet
Crypto wallets are just like traditional wallets, but they don’t store the currency as a traditional wallet does. Crypto wallets are the software programs where you can store public and private keys. Crypto wallets allow you to track your balance and make transactions just like the bank accounts. All the crypto wallets fall into five categories:
Desktop – Desktop wallets are a safe method of storage as they can only be accessed by you through your computer.
Online – Online wallets run on the cloud, which makes it very convenient to use them. You can use them from anywhere in the world. However, there is a risk of hacking.
Mobile – Mobile wallets are similar to desktop wallets, and they are developed to run on your smartphone.
Hardware wallets- Hardware wallets store your keys on a hardware device. Most of them are safe to use, but they are not easy on the pocket.
Paper wallets – Paper wallets allow you to store your private and public keys on the print via QR code.