How to use Ethereum?
The Ethereum platform forms the basis for various decentralised apps (dApps). Unlike traditional applications, dApps have no owners, are free from censorship, presuppose built-in payments and are backed by cryptography. The back-end code of dApps (smart contract) runs on a decentralised network instead of a centralised server.
Today, Ethereum serves as a preferred network for Decentralised Finance. Most DeFi applications are built on the Ethereum platform. The second largest crypto platform after Bitcoin, Ethereum can handle smart contracts and provides a solid ground to build any decentralised finance application.
However, if you do not want to go deep into dApps and DeFi applications, you can still use Ethereum to diversify your crypto holdings and invest in the top performing altcoin of 2020. You can trade it with leverage, speculating on its price difference, or simply buy Ethereum with a credit card, withdraw and hold it safely.
Where do you store Ethereum?
If you decide to buy Ethereum with a debit card (or credit card) you need to find a safe place to store your crypto assets.
There are two major types of crypto wallets: a so-called hot wallet, which is considered secure and more agile for exchanging crypto holdings to fiat; and a cold wallet, which represents special hardware devices that offer offline storage. Hot wallets are considered riskier, as they are susceptible to hacking. Cold wallets are not connected to the Internet and are therefore less vulnerable to fraudulent actions, they are often used for long-term storage.
Dzengi.com also serves as a secure space to store and hold your Ethereum assets. An advanced coin-tracking platform helps us to verify all transactions on the blockchain. We can guarantee the highest level of security for your personal data, payments and assets.
How does Ethereum mining work?
Ethereum mining is a process of creating a block of transactions, which will be added to the Ethereum blockchain. Like Bitcoin, Ethereum is currently using a Proof-of-Work (PoW) consensus mechanism.
Miners use their computation power and time to process transactions and produce blocks. They make it happen by solving difficult puzzles, which also serves as a way to secure the network from attacks.
Miners are responsible for creating new Ether tokens, as they get rewards in Ether for creating new blocks and completing the PoW task.
A popular concern in 2020 was the prospective transition from the Proof-of-Work algorithm to a Proof-of-Stake consensus algorithm in the Ethereum 2.0 update. Ethereum 2.0 represents a series of updates, which will help to make the platform more secure, scalable and sustainable.
Although the Proof-of-Stake mechanism will change how miners earn a reward, PoW mining is still likely to be in action until 2023.
How to sell Ethereum?
If you have an account on Dzengi.com you can buy, sell and exchange Ethereum at competitive prices, any time you want. To sell Ethereum, simply place a sell order, specify the amount and the type of currency you want to sell, and Dzengi.com will automatically process it and complete the transaction once it is matched with another trader’s order. Dzengi.com has an unparalleled matching engine with a matching speed of 50 million transactions per second.
Don’t forget that Dzengi.com is much more than a traditional crypto wallet. Although you can safely buy, sell and hold your Ethereum holdings here, it is not the best option to store your crypto for a long time.
It is a perfect place to make your Ethereum work. Buy, sell, trade and exchange your crypto holdings at Dzengi.com to boost your profits.
How long does it take to buy Ethereum?
Dzengi.com has a relatively fast and easy sign-up process. It means that it will take you just a few minutes to create an account.
Because the crypto platform is fully regulated and adheres to the most stringent AML and KYC standards, you will have to undergo a verification process, providing proof of your identity.
You can then top up your account with fiat or crypto. A minimum crypto deposit is 0,03 ETH, 0,001 BTC, 0,05 BCH or 0,1 LTC. You can also start trading with a minimum fiat deposit of 10 USD and start buying cryptocurrencies you want or trading on 2000+ tokenised assets.
With Dzengi.com you will be ready to buy Ethereum in almost no time from any device and it’s worth it.
