Ethereum is a decentralised blockchain platform designed to host decentralized applications (dApps) and execute smart contracts. Ether (ETH) is the digital currency used on the Ethereum network which is used to pay for transaction fees and gas fees. Ethereum quickly became one of the most widely adopted blockchain platforms after its launch in 2015. ETH is currently the second-largest cryptocurrency in the world by market cap, trailing only Bitcoin (BTC).
Unlike Bitcoin which is used as a digital currency, Ethereum’s core purpose is to allow developers to build dApps that run on the network, as well as validate smart contracts that utilise blockchain technology to maintain transaction data.
Despite the growth of alternative blockchain platforms, the majority of dApps exist almost exclusively on the Ethereum blockchain.
An Ethereum block is created through a process called mining. however, there are other ways to acquire Ether, such as purchasing it on a cryptocurrency exchange.
You can buy Ethereum (ETH) and other digital currencies with low fees on the Swyftx crypto exchange.
Vitalik Buterin, a computer programmer and co-founder of Bitcoin Magazine, released the whitepaper for Ethereum in 2013. Vitalik’s whitepaper proposed a decentralised platform that gave developers to build decentralised using a built-in programming language. Developers would pay for computing fees using ETH.
Vitalik crowdfunded the development of the Ethereum protocol in 2014. Officially launching Ethereum in July 2015.
Ethereum can be bought on Swyftx cryptocurrency exchange. When you trade Ethereum with a Swyftx, you receive some of the lowest trading fees and smallest spreads on the New Zealand crypto market.
Buying Ethereum on Swyftx takes 4 simple steps:
Create your account: Sign up to swyftx with your full name, email address, phone number and a secure password.
Verify: Our verification process is quick and painless, often 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 verified, you can deposit fiat currency (NZD) via debit card.
Buy Ethereum: Navigate to the buy ETH on the Swyftx mobile or desktop app, select how much Ether you’d like to buy and confirm your purchase.
Swyftx is one of the most trusted crypto exchanges in New Zealand. We offer a user-friendly desktop and mobile app so you can trade crypto anywhere. We have integrated TradingView charts with every asset, so you can use real-time market data to conduct in-depth crypto analysis of Ethereum and other assets.
Swyftx also offers an abundance of features to simplify your crypto trading journey, these features include:
Automated trading: Place multiple orders, that are automatically executed at certain price points or at scheduled intervals.
Online customer support: We offer personalised, round-the-clock customer support to assist customers with questions or concerns they may have.
Demo Mode: If you’re beginning your crypto journey and want to learn the ropes before investing any money you can use our demo mode to practice trading and develop strategies.
The price of Ethereum that is listed on the Swyftx website is reflective of real-world trading volumes. The actual price of ETH is determined by the supply and demand of the cryptocurrency. Similar to regular stocks, cryptocurrencies have order books containing buy and sell orders at different prices. You may have noticed that the buy and sell price for Ethereum and other assets is different, this difference is called a spread.
When you buy or sell Ethereum, the price listed by Swyftx is dependent on the agreed buy or sell price in the most recent trade.
Yes! When you trade with Swyftx you can deposit money into your account via debit card.
Simply head to the “deposit NZD” page from the Swyftx dashboard. When you reach this page, you will need to select the debit card deposit option and then follow the steps to deposit funds.
Once deposited the funds will be available in your account in a matter of minutes, allowing you to buy Ethereum instantly.
Decentralised applications (DApps) are open-source digital applications that are not controlled by a single authority. DApps are built and run on blockchain networks, such as Ethereum. The key difference between normal apps and DApps is that they are run on a decentralised peer-to-peer networks, such as a blockchain, rather than a centralised computer system. DApps include things like decentralised exchanges, NFT marketplaces and play-to-earn games.
DApps are built to have no downtime and remove the risk of censorship, fraud and third-party interference. Some popular DApps on Ethereum include:
Gas fees are a transactional fee paid as compensation to Ethereum miners for the computational power used when verifying transactions. Gas fees fluctuate based on the level of traffic on Ethereum’s blockchain. During times of high network traffic, gas fees increase.
If you want to sell some or all of your ETH on Swyftx, you need to click on the sell tab and select the type of sell order. You can either choose market sell which is an instant sell at the current market price of ETH. Or you can choose to do a limit sell and set a price in which you would like to take profit. Once the desired Ethereum price is reached, the sell order will automatically execute.
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 NZD equivalent (I.e $2,000 NZD), you can then invest in other cryptocurrencies or send money to a New Zealand bank account.
Take advantage of our low spreads and low trading fees when you buy ETH in New Zealand.
Verify your account quickly with our fast account verification and buy ETH in minutes.
Secure trading with two-factor authentication (2FA), breached password detection and biometric logins.
Learn to trade and gain experience with Swyftx risk free by enabling the demo mode. We even simulate real life liquidity and market depth.
Deposit and withdraw NZD via bank transfer.
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.