Cryptocurrencies are booming! In addition to the bitcoin, more and more digital coins are being developed that can also be traded. An example of another successful digital currency you can invest in is Ethereum, or Ether. In this article, you can read how to trade in Ethereum and we also look at how Ethereum is different from, for example, the bitcoin.
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Ethereum is more than a currency
If you see Ethereum as just a currency, you are wrong! The Ether is more than a currency. The uniqueness of Ethereum is that this cryptocurrency can be used as a system in which all kinds of things can be programmed. For example, you can use Ethereum to create a very secure contract. It is therefore very likely that Ethereum will become as successful as the bitcoin and of course you can benefit from it as an investor.
How can you invest in Ethereum?
Speculate in the short term
When you want to be in the market every time the price increases, it is an option to speculate on the price of Ethereum. Ethereum coins are very volatile and they can be traded well. Of course, it is possible to make a profit when the price of Ethereum rises, but did you know that it is also possible to do this when the price drops? By shorting Ethereum with an online broker you can also benefit from these downward price movements.
A good broker where you can trade in Ethereum is Plus500. With Plus500, you can easily create a free (demo) account that lets you try out the possibilities. Within the online software it is possible to buy and sell Ethereum with a click of the mouse, allowing you to grab all price movements.
Click here to find out about trading in Ethereum at Plus500 >>
Buy for the long term
Like the price of the bitcoin, the price of Ethereum has also risen sharply. When you had bought Ethereum when it had just been launched, you could have been a millionaire by now. The price has really soared! Even now, the currency still has a lot of potential in the long term. Later we’ll discuss what makes Ethereum unique, but it is these unique features that make it possible for the price of Ethereum to go up much more.
However, it is important to buy Ethereum at the right time. Do not blindly go to a website to buy Ethereum. The price is very volatile and it is therefore wise to first make a good price analysis. Make a plan as you would with a more traditional investment, thus maximizing your potential profit!
What makes Ethereum unique?
When you put Ethereum on the same line as the bitcoin you make a mistake. Sure, they are both digital coins, but there are some obvious differences. One major advantage of Ethereum is that the ethers are easier to deploy for all kinds of projects. Whereas bitcoins and litecoins are used primarily as a currency, you can do all kinds of things with Ethereum.
Did you know, for example, that you can issue shares with Ethereum or create a political system? Ethereum is also very useful for drawing up a contract. The ethers are not mutable, which means that the content of the contract can no longer be adjusted. Even the programmer cannot make any modifications anymore. This makes Ethereum extra powerful against malicious hackers. This potential makes it possible for the price of Ethereum to increase much further.
The current price of Ethereum
It is of course important to take a look at the last price of Ethereum. Below you can see the price of Ethereum, in a live chart provided by Plus500. You can even use the buy and sell buttons to directly buy or sell Ethereum.