What is Ethereum, and How to Buy it in UAE?
It is critical to comprehend how Ethereum works if you are thinking about investing in it, so you can make the best possible decisions for your investment. Here is the information you need to know about Ethereum, including why it could someday overtake Bitcoin as the most dominant actor on the cryptocurrency stage. Since Ethereum’s value has increased over the years and in the market, it has become critical to know how to buy Ethereum in the UAE and choose Volofinance as your best trading partner.
What is Ethereum?
Ethereum is a well-known cryptocurrency with a market worth of more than $232 billion and is considered the second-most valuable cryptocurrency. Anyone can use Ethereum to develop any secure digital technology. Users may also use it to pay for material products and services. Scalable, programmable, secure, and decentralized are all features of Ethereum. It is so popular that even other cryptocurrencies run on its network.
The Ethereum value has just surged to a record high of $3,400 at the beginning of May 2021, quadrupling since the year 2021 began and representing an increase of more than 900% over the preceding 12 months. Online brokers like eToro claim that Ethereum is special among other cryptocurrencies. Ethereum’s popularity has increased over the past 12 months among both retail and institutional investors. Moreover, the price of Ethereum is rising and shows no signs of slowing down as crypto’s Shapella upgrade is officially live.
One of the appealing aspects of Ethereum and some other cryptocurrencies on a blockchain is the fact that there is no single entity, organization, or authority in control of the blockchain. This blockchain only stores transaction details, not the personal information of the buyers and sellers.
Ethereum vs. Bitcoin
Although Ethereum and Bitcoin have numerous similarities, there are also some significant differences. Here is a fast fact about both cryptocurrencies. The Ethereum platform was created with broad ambitions to leverage blockchain technology, while Bitcoin’s sole purpose in existence was as a payment method.
While the amount of Ethereum that can be created is limitless, the maximum number of bitcoins that can ever be in circulation is 21 million. Currently, Bitcoin has 19 million coins in circulation. How each network handles transaction processing fees is a key distinction between Bitcoin and Ethereum.
Ethereum is more like a marketplace of financial services, games, social networks, and other applications that respect your privacy and cannot censor you, in contrast to Bitcoin, which is only a payment network. This feature, according to some analysts, may one day enable it to displace Bitcoin as the leading cryptocurrency.
Unlike Bitcoin, which acts like digital gold, Ethereum is a technological platform that is not run by governments or companies. In terms of blockchain, Ethereum is the most popular cryptocurrency used by far, making it a major cryptocoin option on the market. Ethereum is now on track to overtake Bitcoin as the cryptocurrency with the biggest market cap value in terms of growth and investment.
| Features | Ethereum | Bitcoin |
| Release Date | 2015 | 2009 |
| Primary Creator | Vitalik Buterin and Gavin Wood | Satoshi Nakamoto (authenticity is uncertain) |
| Purpose | Decentralized develop platform | Digital monetary system |
| Market Cap Rank | Second | First |
| Transaction Speed | Fast | Slow |
| Home to Other Currencies | Yes | No |
Is Ethereum Stock a Good Investment in 2022?
Ethereum stock reached $1,851.08 (ETH/ USD) in April 2022. Ethereum’s stock is determined by a worldwide marketplace of supply and demand.
How to Buy Ethereum in UAE?
To buy and sell Ethereum in UAE, investors can utilize one of the numerous cryptocurrency exchange websites. Volofinance, a world-class asset management company, provides the best possible forex and cryptocurrency fund management service for investors worldwide. Keep in mind that buying Ethereum in the United Arab Emirates is legal, safe, and simple.
First, when you want to buy Ethereum in UAE, you link your bank account to your newly created account on the Volofinance platform after confirming your identification and place of residence. After that, you can choose the payment method that suits you the best, and in case you require any help or assistance, Volofinance professional team is ready to support you.
Should I Buy Ethereum?
Ethereum is a popular coin among investors of all skill levels. But before you buy Ethereum in UAE, you have to learn well about it and discover its advantages.
According to eToro, trading or exchanging Ethereum for other cryptocurrencies is quite simple. Compared to Bitcoin, transaction times are quicker, and it also gives users access to a variety of decentralized applications, which allow programmers to construct new online tools.
Outside of cryptocurrencies, Ethereum is being used for other purposes. For example, you may use it to develop self-executing contracts, apps, and trade NFTs.
Every step you take in the cryptocurrency world should be accompanied by professional advice. If you require assistance, please contact the Volofinance team through email at [email protected] for any cryptocurrency requirements.
Can Ethereum be Exchanged for Money?
Yes! Ethereum is a currency that can be traded or converted into other currencies, just like any other. Utilizing Volofinance, a cryptocurrency exchange platform is the simplest method to achieve this. You may exchange your Ethereum for your preferred currency, like dollars, on such a marketplace. To pay out the sale, you will only need to link an existing bank account, as mentioned above.
Volofinance team advises you to be aware of any fees or other charges involved with withdrawing your Ethereum.
Where to Buy Ethereum in UAE?
The main goal of the Volofinance cryptocurrency platform is to maximize profits for its clients while generating long-term asset gains. In addition to that, this trusted platform provides the best forex and cryptocurrency fund management worldwide. Volofinance additionally separates its assets to ensure complete compliance with the money kept in trust. Finally, it adheres to some of the greatest trading risk management strategies, which enables the company to manage unanticipated scenarios efficiently using its own trading tactics.
Some Facts about Ethereum You Should Know Before Buying Ethereum in UAE
- Ethereum was launched in 2015.
- Ethereum’s network is 100% open source.
- Ethereum is increasingly used for iGaming.
- Ethereum was the birthplace of smart contracts.
- Ethereum was a crowdfunded project.
- The co-founder of Ethereum was born in 1994!
- Ether is the crypto unit, not Ethereum.
- Banks and tech giants actually like Ethereum.
- Unlike Bitcoin, it is not bound by limits.
- Currently, it has a faster mining rate compared to Bitcoin.
- Ethereum is more than just a cryptocurrency!