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Ethereum: How Much Do you Know about it?

You need not be an ardent crypto fan to know that Ethereum remains the most popular name in the market right after Bitcoin. Now, what exactly is Ethereum and why are the crypto investors so excited about its prospects? We’ll tell you in the course of the post but not before addressing a common misconception.

Contrary to what many assume Ethereum itself is not a crypto currency. No it’s not! Ethereum, rather, is a decentralised open-source blockchain network with Ether as it digital currency. Ether or ETH remains the second-largest cryptocurrency in the world in terms of market-cap. The first one, of course, is Bitcoin, as everyone can gauge.

In terms of usage, Ether can be used as digital currency in financial transactions – either as an investment or store value. Irrespective of whether it’s a simple movement of funds or involves something as complex as taking out loans – the transactions can be processed and stored on the Ethereum network. Launched in the year 2015, Ethereum has clearly conveyed that it aims to become a global platform facilitating decentralized applications. Talking about usage, one of its most impactful use cases is smart contracts.

Do you want to buy Ethereum in New Zealand?

You need to sign up for a free trading account with a registered New Zealand Ethereum Exchange platform. Make sure that you’re investing due time to investigate the credentials of the Exchange thoroughly. In order to make sure that you’re zeroing in only on the most trusted exchange platform, do ensure that you’re checking the track record and reputation of multiple names and then zeroing in on one of them.

In order to sign up, you’ll be required to furnish a few details like:

  • Name
  • E-Mail Address
  • Phone No.

The next step is to set a unique password followed by verifying your account. The verification of the account needs you to confirm details and scan your ID. Once verified, you can deposit NZD via bank transfer. Now, you can simply search your asset, select the exact amount of ETH that you wish to buy and just confirm your purchase. Those who want to buy ethereum new Zealand, please be informed that the entire verification process takes only 2 minutes or so!  

A few tips to identify the right Crypto Exchange

Just getting back to what we have been emphasising – it’s important to consider the reputation of the exchange thoroughly before signing up for services. Besides reputation, look out for the features without fail. Try to find the ones that allow you to trade multiple cryptocurrencies (the more the better). The low fees and spreads are a must for maximum profits. Additional services like creation of automatic buy and sell orders, setting up recurring orders and due access to customer support only serve to enhance customer experience.

If you’re a beginner, mock trading remains one of the vital elements aiding your shot at success. Try to find an exchange combining all these elements.

Hope this primer has been helpful.

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