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About Ethereum (ETH)

Ethereum is a decentralised, open-source blockchain network that supports smart contracts and is the world's second-largest cryptocurrency by market cap. It transcends the basic functions of a store of value or medium of exchange, like Bitcoin. Instead, Ethereum serves as a versatile computing platform, enabling developers to build and deploy decentralised applications (dApps) and smart contracts without central authority.

Ethereum has stated that its goal is to become a global platform for decentralised applications. To put this in simple terms, think of Ethereum as the foundational layer for a new digital realm. It's like a global computer, allowing various applications such as music streaming services, video games, NFT trading and token swapping to thrive.

The Ethereum blockchain was first launched in 2015. Since then, it has paved the way for other decentralised smart contract platforms like Cardano, Solana and Avalanche.

Ether (ETH) is the native cryptocurrency for the Ethereum network and is used to pay for network fees and reward users participating in the Proof of Stake consensus mechanism. You can buy Ethereum and other digital currencies in Australia in just a few clicks with low fees and minimal spreads on the Swyftx crypto trading platform.

How to Buy Ethereum (ETH) in Australia

  1. Signup for free
  2. Verify your account
  3. Deposit AUD instantly
  4. Buy ETH

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Ethereum FAQs

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How is the price of ETH determined?

The price of ETH is determined by the forces of supply and demand in the market. Similar to other assets, the price of ETH is determined by the number of buyers and sellers in the market at any given time.

Some significant factors that can influence the demand for ETH are adoption rates, macroeconomic factors, news events, upgrades and advancements in its tech and investor sentiment.

Where is the best place to buy Ethereum (ETH)?

The best place to buy Ethereum is right here at Swyftx! Swyftx offers a fast and user-friendly platform that allows traders to easily deposit Australian dollars to trade Ethereum and other cryptocurrencies instantly. We offer competitive fees and excellent customer support and we are proud to be Australia's highest-rated crypto exchange as per our Trust Pilot Reviews.

Top Traded Assets on Swyftx

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Period: Last 24 hours

ETH Buys and Sells

By number of orders

42% Buy

Period: Last 24 hours

This should not be used to make investment decisions.

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What is Ethereum and How Does it Work?

Ethereum is the second-largest cryptocurrency in the world behind Bitcoin. Find out how Ethereum works and how it differs from Bitcoin.

Dislcaimer: The information is for general information purposes only and should not be taken as investment advice, personal recommendation, or an offer of, or solicitation to, buy or sell any assets. It has been prepared without regard to any particular investment objectives or financial situation and does not purport to cover any legal or regulatory requirements. Customers are encouraged to do their own independent research and seek professional advice. Swyftx makes no representation and assumes no liability as to the accuracy or completeness of the content. Any references to past performance are not, and should not be taken as a reliable indicator of future results. Make sure you understand the risks involved in trading before committing any capital. Never risk more than you are prepared to lose. Consider our Terms of Use and Risk Disclosure Statement for more.