What is Ethereum (ETH)?
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.
Who created Ethereum (ETH)?
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.
How to Buy Ethereum in New Zealand
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.
Why Buy Ethereum with Swyftx?
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.
