What is Ethereum & How to Buy Ether with Bitcoin or Other Cryptocurrencies – Amplify Exchange


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 $139.03 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 exchanges.At 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 amplifyexchange.com/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.

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