How to get started with buying and selling Ethereum?

 Ethereum is the second highest currency by market capitalisation in the entire cryptocurrency market. Ethereum has started creating a buzz recently as more users are adopting its use cases. This article will help you get started with questions like “which is the best place to buy Ethereum in Canada?”. 

Only second to Bitcoin, Ethereum has managed to turn several heads since its inception in 2015. Ethereum has pioneered the concept of a blockchain smart contract platform. Smart contracts are computer programs that automatically execute the actions necessary to fulfill an agreement between several parties on the internet. They were designed to reduce the need for trusted intermediates between contractors, thus reducing transaction costs while also increasing transaction reliability. Ethereum is all set to have a bright future and according to several analysts it has the potential to overtake Bitcoin in terms of market capitalisation. This is a great opportunity to accumulate Ethereum at current prices.

Let’s get started with a few points that will help you understand why Ethereum is the future for cryptocurrencies ahead.

1.  Used as a layer to develop applications: The Ethereum blockchain is used as a layer to develop several modern-day decentralised applications which is the future of several budding businesses and startups. These applications have several use cases and are already being used in industries like finance, medicine, gaming, music and many more. Every time a user is using a layer of the blockchain the number of transactions increase which directly increases the demand for Ethereum’s token “Ether” and that causes inflation in its price.

2.  Smart contracts: Smart contracts are the way ahead and are already being used by several industries as they eliminate the need for a middleman. Smart contracts are clauses agreed upon by two parties initiating the contract(much like any standard contract) and when any party does not comply with these clauses then there is a monetary penalty which is automatically enforced upon them. This is a great system and will surely be adapted more rapidly in the future.

3.  Constant improvement in user experience : This is a very important factor to consider scalability and Ethereum surely ticks this one-off. Ethereum recently introduced an upgrade to improve transaction speeds within its blockchain and also announced that it would be adopting a proof of stake mechanism from its current proof of work one which would reduce transaction time and would also reduce its energy consumption by 99%.

How do I get started?

To get started it is important to have a reliable broker who would act as a medium for you to execute these transactions. Netcoins is one such broker and they are the best in Canada. Apart from Ethereum there are several other alternate coins to look at like Ripple, Cardano, Bitcoin Cash and many more. If you are wondering how to buy Ripple in Canada then get started by visiting the Netcoins website today and follow the simple instructions listed there.

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