Hello everyone and welcome to this new educational series on cryptocurrencies Let's jump right in
What is Ethereum, Ethereum is an open source, public, blockchain based, decentralized computing platform featuring Smart Contract functionality Ethereum was proposed in 2013 and the system went live on July 30 2015 So what is Ether? Ether is the cryptocurrency generated by the Ethereum platform as a reward to mining nodes for computations performed and is accepted for the payment of transaction fees There are currently 109, 204, 591 Ether in existence and the current price of one Ether is $13903 giving Ethereum a total market cap of $8,523,587,148 $8,523,587,148 making it the second largest cryptocurrency in the world by market cap
So what are the benefits of Ethereum? Number one is decentralization Ethereum is decentralized meaning it is not controlled by a single governing entity but rather by a trustless architecture where majority rules and consensus is defined based on thousands of computers around the globe running the software This methodology means Ethereum is fully autonomous and has no central point of failure so it will always be online and available Secondly is coding platform Ethereum has its own coding language which enables developers to build and deploy decentralized applications on the Ethereum network
Third, Smart Contracts Smart Contracts are designed to automatically perform transactions within the Ethereum Network with trustless execution both parties in any given transaction must subscribe to the terms and upon completion of the terms set for each party a transaction or other action is triggered These Smart Contracts are governed by the Ethereum Network autonomously through decentralization So the question is how do you buy Ethereum? Buying Ethereum is simple and can happen through any number of exchangesAt Amplify you can trade Bitcoin and many other assets for Ethereum without ever paying a trading fee
Let's take a look at how simple it is if you haven't already registered for Amplify head over to amplifyexchangecom/register or click the video in the top right corner for help with onboarding start at the Amplify homepage which is amplifyexchange
com click the sign in button at the top Upon providing credentials including your 2fa code if set up you will be directed to your portfolio page which is where you can see how your assets are performing Click the markets link at the top of the page and scroll down to find Ethereum clicking the row will expand more information so you can see the Ethereum chart and give you options to view news about Ethereum as well as the content the official Ethereum channel are producing, you can also view the project profile on the last tab in this row To buy Ether you simply need to click the Buy button as seen here once the Buy panel opens up you can enter how much Ether you wish to purchase and simply click "Place Buy Order" the system will match your order through a single or series of trades and upon successful completion you can click the "View My Orders" button to see the details of your successfully completed order
Now when you browse back to the portfolio page you will see your new balance of Ether and the system will start tracking its performance for you We hope you enjoyed this educational video giving you a high-level overview of what Ethereum is and how to purchase Ether Take a second to subscribe to this channel so you can see more educational content as we expand the series thank you so much for being a part of Amplify Exchange
