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Ethereum (ETH) is a blockchain-based open software platform that allows developers to build decentralized applications (dApps). While the Bitcoin blockchain is used primarily for storing or sending values, the Ethereum blockchain focuses on decentralized applications and the execution of smart contracts. A smart contract is like a stand-alone computer program that automatically performs the exchange of values (money, content, property, shares) when certain conditions are met, without the intervention of a third party. So ether is not just a cryptocurrency, but also a platform that can be used to build different applications (dApps) for the blockchain. The Ethereum token is called ether. "Gas" is an internal transaction pricing mechanism that filters out spam and provides resources to the network. The "father" of Ethereum is Vitalik Buterin, from whose head the idea of creating Ethereum emerged at the end of 2013. Its main goal was to create an altcoin that would provide a solution to the problems that occur during the operation and use of bitcoin. The financial background for the development was provided through an online community fundraiser in July-August 2014. The system started on July 30, 2015, with 11.9 million coins which were “pre-mined” for community purchases. This represents approximately 13% of the total volume in circulation.
What does the Ethereum exchange price chart show?
The price chart shows the individual forint middle exchange rate aggregated based on current market data. Of course, when you want to buy or sell a given coin, the recommended buy and sell price will vary from the middle price, as it already includes the so-called “spread” (the difference between the best buy and the best sell price at a given moment) and the commission charged by CoinCash. To see our current buying and selling prices, log in to your profile.
What influences the price of Ethereum?
If someone decides to buy cryptocurrency, it is important to be aware that they are moved by other laws than classic investment instruments such as stocks or bonds. This is because it is often not backed by a company or state, so there is no reviewable company balance sheet, annual/quarterly report, the economic performance of the given country or other usual financial indicators. Compared to traditional currencies, they are not issued by a central bank or government, so cryptocurrencies are not generally affected by monetary policy, inflation rates or economic growth.
In contrast, it is affected by many market factors, including:
- The price is mainly influenced by the supply and demand of the given cryptocurrency.
- The number of rewards after mining, if the given coin can be mined, as this is actually the inflation rate of the coin, which is regulated through the rate of issue.
- Awareness of the given coin, number of users and areas of use.
- The growth potential of a given cryptocurrency.
- The number of cryptocurrencies competing for investors ’money’.
- The number of exchanges on which the given cryptocurrency is traded and the liquidity available there.
- Regulations and laws governing the operation, trading and distribution of a given coin.
How can I buy Ethereum?
If you choose CoinCash, our service for buying Ethereum, you can choose from several options. Using our online service, you can send us the amount of your order by bank transfer. If you want to settle your exchange in cash, our bitcoin ATMs are at your disposal, but you can also exchange in person at our office at a pre-arranged time (please contact the support in this case).
Where can I store my purchased Ethereum?
You can find several articles on installing wallets on our blog. If you are a beginner, we recommend the Blockchain or the Trust Wallet to get you started.
Do you have questions about buying, exchanging or trading Ethereum?
The price rate data above is for informative purposes only, does not constitute as an offer and does not contain any obligation to make an offer. The additional information on this site is for educational purposes only and does not constitute financial advice or an investment recommendation. Before making any financial decisions, be thoroughly informed, consider your financial situation and risk-taking ability.