Ethereum and its symbol ETH is an open source software platform that applies blockchain technology and allows two or more people to conduct a transaction by mutual agreement without the need for an intermediary or trusting each other. . Developers have been able to create applications that are also decentralized as they are the largest incubator for most projects in the digital currency market, my central incubation of other projects besides sending ether between traders.
When comparing Ethereum to Bitcoin, we see a clear superiority over Ethereum in terms of the technology used: Bitcoin is considered a store of value as Ethereum outperformed it in terms of transfer speed as it only takes 15 seconds to confirm. while Bitcoin takes 10 minutes to complete the transfer process. Not to mention the next update, which will continue to expand.The difference between them isn’t in terms of speed and transaction costs.
History of Ethereum
The developer and owner of the Ethereum currency and the head of its foundation is Russian Vitalik Buterin, who previously worked on Bitcoin but started working on Ethereum after the start of the project’s crowdfunding project in 2014. He is trusted in the cryptocurrency community.
After entering the market in its first year, the currency saw slow growth and stayed that way until late 2017, when it topped $ 700 at 9,000% growth and peaked at $ 1,300 in late 2018 .
Analysts are still betting that the Ethereum currency will hit the $ 10,000 level in the next few years, while some optimists predict that its market value will exceed the value of Bitcoin to take first place.
Most investors in the Arab countries are currently buying Ethereum for speculative purposes in hopes of making money if they sell the currency later than when they were bought.
Why Buy Ethereum Coins
Ethereum It is also not hidden from everyone how to buy Ethereum or any currency currently in the cryptocurrency market, which exposes you to a more volatile market than the stock market currencies at the time of writing this report based on the CoinGecko website Against This Daily fluctuations in the prices of these currencies, we find that you can achieve the greatest possible profit from all currently existing markets.
The current market value of Ethereum is small compared to Bitcoin, which does not reflect its advanced technology; this is a relatively small value compared to the solutions it can offer to solve many of the traditional system’s global problems.
As a trader, you can only buy part of Ethereum if you want. There are brokers out there that allow you to buy any amount that is available to all segments of the community.
What are the reasons that motivate you to buy Ethereum currencies in Saudi Arabia or any other country in general
Aside from the first reason that makes you buy Ethereum is the huge profits and skyrocketing highs this currency has seen, but before you buy it you should know – other, more objective reasons you can get from Ethereum and its convinced leading role in the cryptocurrency market.
Reasons to Buy Ethereum Coins
DeFi Decentralized Finance projects rely heavily on the Ethereum platform as 2019 saw the growth of the financial services sector created on decentralized platforms by 2- 2- The Ethereum platform has the lion’s share in terms of number the resulting projects. The area of central finance aims to create a financial system that is open to all and that reduces reliance on central authorities.
Ethereum is mainly credited with revolutionizing the non-fungible NFT token field. These are non-fungible tokens that will prove your ownership of the smart contract for any digital asset you’ve written on the Ethereum network, such as NFTs, encrypted artwork, games, photos, videos, etc. This technology enables artists, photographers, and more Designers record their work on the Ethereum blockchain and prove their ownership of their business, and multiple platforms allow them to sell that property. This market promises a prosperous future for digital products in various fields and enables celebrities to easily offer their artistic products for sale to their audiences.
The next update in the Ethereum network that everyone is waiting for is a direct Gr and to bring the currency to its highest level. Thus, in its current version, it retains its second position behind Bitcoin, let alone the second version, which will open up several areas for new projects. This update will allow the Ethereum network to migrate from the energy-consuming and polluting proof-of-work system, as described by billionaire Elon Musk, to the proof-of-stake system, which makes Ethereum storage the cost of the network can share through staking.
Behind Ethereum there is an experienced and competent team in the blockchain field as well as a large- number of developers and interested parties in this platform, which gives it the advantage in terms of working stability and makes it immune to any outside intrusion, and these are two important ones Factors to attract new projects and gain investor trust.
The Ethereum currency is attracting more institutions and corporations by the day. The base of financial institutions that support the currency is growing and spreading among the big corporations. According to the American cryptocurrency exchange Coinbase, it has seen an increasing number of its institutional clients taking long positions in the Ethereum currency due to its high returns, and they believe that Ethereum is a store of value and a need for transactions within its network.
Buying Ethereum: What are the Risks
Ethereum Risks We have recently seen sharp price fluctuations in the cryptocurrency market that Ethereum has not spared, allowing American billionaire Elon Musk’s tweets to control the movements of the market. Hence, it is necessary to be careful and invest the accumulated sums that we are ready to lose when the markets deteriorate.