Buy and SellEthereum

What is Ethereum?

Blockchain technology powers Ethereum, a global virtual machine. Ether, or ETH, is the native cryptocurrency of this network. Participants in the Ethereum network pay with ETH to perform work on the blockchain.

Ethereum is intended to be decentralized, scalable, programmable, and secure. The blockchain of choice for developers and enterprises, who are creating solutions based on it that will change how many industries operate and how we live our daily lives.

The first description of Ethereum was published in a whitepaper by Vitalik Buterin in 2013. During the summer of 2014, Buterin and his co-founders raised funds for the project via an online crowd sale.

With over 60 million Ether sold in the Initial Coin Offering (ICO), $18.3 million in Bitcoin was raised by the project team, and Ethereum's value was $0.311 during the ICO. Considering Ethereum's current price, this means your ROI has been over 270% on an annualized basis since the summer of 2014, essentially quadrupling your investment every year.

Originally codenamed "Frontier," the Ethereum blockchain was first announced on July 30, 2015, with several updates since — "Constantinople" on Feb. 28, 2019, "Istanbul" on Dec. 8, 2019, "Muir Glacier" on Jan. 2, 2020, "Berlin" on April 14, 2021, and "London" on Aug. 5, 2021, the most recent.

Why is Ethereum valuable?

The value of ETH varies from person to person. Due to its transaction fee payment capability, ETH is valuable to Ethereum users. The creation of new ETH slows over time, so some see it as a digital store of value.

In recent times, Ethereum users have found ETH to be valuable for financial apps. This is because ETH can be used as a payment method or as collateral for crypto loans. Like Bitcoin and other cryptocurrencies, it is also seen as an investment.

Bitcoin vs. Ethereum

Ethereum is a cryptocurrency that has the ambition to expand the community, despite Bitcoin being the most popular. As digital money, Bitcoin serves its purpose fairly well.

It does, however, have limitations. Some consider it a store of value similar to gold since it's a PoW network that struggles to scale. The hard cap of 21 million bitcoins also lends credence to that argument.

In contrast, Ethereum plans to become the next internet infrastructure. In addition to automating many processes that require intermediaries, the company plans to connect with fund managers or use an app store.

Although it can be used to transfer money, ETH is mostly used for interacting with the network. ERC-20 tokens can be created by developers on Ethereum to create a unique Ether-compatible token for each DApp.

All Ethereum-based tokens are technically interoperable, even if the process isn't perfect. The Bitcoin network is just for Bitcoin.

How to trade Ethereum on Bit.ir?

You can buy ETH in 2 ways:

1. If you deposit Rial, you can buy ETH on Toman Market
2. If you deposit USDT, you can buy Ethereum on Tether Market

Note:

• The minimum amount of Ethereum that you can buy on Toman Market is 100,000 Tomans.
• Also, the minimum amount of Ethereum that you can buy on Tether Market is 10 USDT.
• Ethereum withdrawal fee is 0.007 and the minimum amount that you can withdraw is 0.03 BTC.
• Now you can transfer the previously bought Ethereum to your wallet.

Choose the Ethereum/Rial pair on Toman Market to change Ethereum to Rial. You can now choose the amount and price. You will be able to withdraw the Rial equivalent in your wallet when the market price reaches the price you selected.

Market and limit are the two methods of selling or buying Ethereum on the platform. Your order will be filled immediately in market order, which is the most important difference between the two.

Why trust Bit.ir?

In addition to offering the lowest price, Bit.ir provides its users with a secure environment for storing and holding cryptocurrencies. To place orders, users can also use the Bit.ir application.