Ethereum is a decentralised, open-source blockchain network that has its digital currency called Ether or ETH. Ethereum is the second-largest cryptocurrency in the world by market cap. Unlike Bitcoin, Ethereum’s intention is to be more than just a store of value or medium of exchange. Instead, Ethereum is an open-source, decentralised computing platform that can be used by developers to create and run decentralised applications (dApps) and smart contracts.
Ethereum was first launched on the blockchain in 2015 and since then it has pioneered the concept of a decentralised smart contract platform. Ethereum has stated that its goal is to become a global platform for decentralised applications.
Ether (ETH) fuels the Ethereum blockchain network and is mostly used as a method of payment for transaction fees, commonly referred to as gas fees.
You can buy Ethereum (ETH) on the Swyftx crypto exchange. With global liquidity providers, Swyftx boasts small spreads and low trading fees.
Want to learn more about Ethereum? Check out our in-depth Ethereum course, available on Swyftx Learn.
Who created Ethereum (ETH)?
In 2013, a white paper was released by 19-year-old Vitalik Buterin, a computer programmer and co-founder of Bitcoin Magazine. The whitepaper proposed a platform with its own digital currency, that allowed developers to create their own decentralised applications using a built-in programming language.
Vitalik along with a team of co-founders crowdfunded the development of the Ethereum protocol in 2014. Ethereum officially launched in July, 2015.
How to Buy Ethereum in Australia
You can buy, sell and trade Ethereum (ETH) and other digital currencies from Australian cryptocurrency exchanges, such as Swyftx. When trading Ethereum with a Swyftx exchange account, you trade with some of the lowest trading fees and smallest spreads on the Australian crypto market which allows you to keep more in your pocket. We have outlined how to buy Ethereum in this simple step by step guide:
Create your account: Sign up to swyftx by providing your full name, email address, phone number and creating a secure password.
Verify: Verifying your account is quick and easy, usually taking less than 3 minutes. All you need to do is verify your phone number, email address and identification (I.e. passport or driver’s license).
Deposit funds: Once your account is verified, you can make your first deposit of fiat currency (AUD) via your payment method of choice:
- Bank transfer
- OSKO
- PayID
- POLi
- Credit or debit card
Buy Ethereum: Navigate to the trade ETH page and select how much Ether you’d like to buy (either the quantity or the AUD equivalent) and confirm your purchase.
Why Use Swyftx to Buy Ethereum (ETH)?
Swyftx is an Australian exchange featuring its own user-friendly mobile app allowing you to buy and sell Ethereum anytime, anywhere. When you purchase Ethereum and other crypto assets through Swyftx’s trading platform, you will pay some of the lowest trading fees compared in the country. With the ability to chart and monitor your crypto investments, set recurring orders and set automatic buy and sell orders, you’ll never miss an ideal Ethereum trade ever again.
If you’re new to cryptocurrency, you can use our demo mode to trade Ethereum and other digital assets with zero financial risk or effect on your own cryptocurrency portfolio. 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 crypto, you can turn off demo mode and purchase cryptocurrencies with real AUD.
Swyftx also has an outstanding customer service team providing personalised, round-the-clock support to all users.
