Ethereum is an open-source blockchain-based software platform and features its own cryptocurrency called Ether (ETH), though this is still commonly referred to as Ethereum. The network is designed for smart contracts and decentralised applications (DApps). Similar to other cryptocurrencies, Ethereum can be used to send and receive value without interference from a third party. Individual developers and Proprietary companies (Pty Ltd) can create DApps that run on it, using blockchain technology for all of the data.
First launched in 2015, ETH quickly rose to become one of the most widely used digital currencies and it is the second-largest cryptocurrency in the world by market cap. Despite the growth of alternative blockchain networks, the majority of DApps exist almost exclusively on the Ethereum blockchain.
Ethereum is created through mining, however, there are other ways to acquire Ethereum such as purchasing it on a Cryptocurrency exchange. In theory, the supply of Ethereum is not capped unlike that of Bitcoin, and its supply schedule is determined by members of the Ethereum community. Trade Ethereum on a registered Ethereum exchange like Swyftx.
You can buy Ethereum in Australia from a Cryptocurrency Exchange platform that supports the buying and selling of Ethereum (ETH), such as Swyftx. When you sell, trade and buy Ethereum in Australia with Swyftx, you trade with some of the lowest trading fees and smallest spreads on the Australian market which allows you to keep more in your pocket. To create an account, all you need to do is enter your name, email address and phone number and create a secure password. Once your account has been created, you’ll need to verify your identification. This is quick and easy to do – most people verify their account within 3 minutes. Next, you’ll be required to deposit funds into your account. Once funds have been successfully deposited, you can buy Ethereum instantly.
The Swyftx Trading Platform has its own app which means you can buy or sell ETH anytime, anywhere. With the ability to chart and monitor your favourite cryptocurrencies, set recurring ‘buy Ethereum’ orders and set automatic buy and sell orders, you’ll never miss out on an ideal Ethereum trade ever again.
If you’re new to cryptocurrency, you can use our demo mode to trade ETH and other digital assets with zero financial risk. This gives you access to real-time market data and figures, allowing you to learn and understand the markets in-depth. Then, when you are more confident and ready to trade, you can turn off demo mode and purchase cryptocurrencies with real AUD.
With Swyftx you can deposit money into your account with a credit or debit card, which can be used to buy ETH. To deposit Australian dollars into your account with your credit card, you will need to navigate to the AUD deposit page. When you are on this page you will need to select the credit card deposit option and then follow the steps to deposit funds. Once you have money deposited into your account, you can buy Ethereum instantly. You’ll need to enter the amount of Ethereum you’d like to buy and then simply click the ‘Buy ETH’ button. Swyftx also allows you to deposit funds via other payment methods like bank transfer, POLi and PayID.
If you want to sell some of or all of your ETH on Swyftx, you need to click on the sell tab and set the price limit. This is the price that you want to take profit at. After that, you’ll need to enter the amount of Ethereum that you wish to sell, by providing either the quantity of ETH or the quantity of what the ETH is worth at the sell price.
A smart contract is a self-executing agreement that allows two counterparts to set conditions of a transaction through a computer code. The code and the conditions contained within the contract exist across a distributed, decentralised blockchain platform, such as Ethereum. Smart contracts permit trusted and transparent transactions to be carried out without the need for third-party intermediaries such as lawyers.
Smart contracts on the Ethereum network are considered types of Ethereum accounts. These accounts have a balance that can be used to send transactions over the network, without being controlled by a third party. Similar to regular contracts, smart contracts have rules and conditions that are automatically enforced via code.
Decentralised applications or DApps are digital applications that are not controlled by a single authority. They exist and run on a blockchain network, such as Ethereum. Unlike typical apps, which have backend code running on centralised computer systems, DApps have their backend code running on a decentralised peer to peer network. Ethereum allows developers to build DApps, which allows people to use smart contracts in a user-friendly way.
When you buy, sell or swap Ethereum with Swyftx, you’ll enjoy some of the lowest trading fees and spreads in Australia.
Swyftx allows you to verify your identity online instantly without the need to upload any documents. Get instantly verified now and buy ETH.
When you buy ETH with Swyftx, the combination of Two-Factor Authentication and breached password detection helps protect your account and keeps your funds safe from scammers.
Learn to trade and gain experience with Swyftx risk free by enabling the demo mode. We even simulate real life liquidity and market depth.Create a free account
Deposit and Withdraw AUD via PayID, OSKO, Bank Transfer & POLi
Automate your crypto investments. Setup recurring deposits to your Swyftx account and have then automatically split across your own range of cryptos.
Never miss a trade or get caught out by the crypto market volatility. Set Buys and Sells to trigger at any price you want.
Easily secure your account with multi-factor authentication and biometric login. Swyftx also monitors other sites for data breaches that might result in compromises on your account.