Ethereum is the second-biggest by and the crypto that pioneered the broader use of blockchain as a technology.
Created in 2015 by 19-year-old prodigy Vitalik Buterin, Ethereum inverted the Bitcoin model, emphasising the blockchain over the currency itself. If blockchains could verify monetary transactions, then why not shipping manifests, airline bookings, website code or home ownership?
Ethereum in popular culture
Buy ETH because it's cool? How pop culture is absorbing Ethereum
Ethereum and its related concepts have started to seep into pop culture. If you were considering a crypto that the cool kids like, buying Ethereum might interest you.
Futurama and Ether
Futurama, the animated sci-fi comedy series, has more than once.
And of course, you can buy an NFT of in a Futurama-style vase.
Culture and Ether
Vitalik Buterin, founder of Ethereum, has become a celebrity in his own right. And, he is becoming known as .
These kinds of pop culture appearances helped to raise awareness and interest in Ethereum and other cryptocurrencies among the general public, especially the younger generation. And this just makes buying ETH seem like a fun thing to do!
Buying ETH because of the developers behind it
Ethereum’s biggest innovation in this respect was what Buterin termed ‘smart contracts’ – programmable and unalterable contracts that would auto-execute when certain conditions were met.
This idea meant Ethereum could become the first true blockchain platform: A blockchain upon which decentralised apps and blockchains could be built.
Participants pay so-called “gas” fees to use the network, which are denominated in Ethereum’s native cryptocurrency, Ether (ETH). The more demand there is, the higher the gas fees.
While there’s no hardcoded upper limit on the amount of ETH to be created like there is with Bitcoin, Ethereum has introduced a mechanism that means a certain amount of ETH is burnt in every transaction, helping to reduce inflationary pressures. It’s predicted that over time this will lead to more ETH being destroyed than created.
The network is powered by a Proof-of-Stake consensus model that requires 99.95% less energy than Proof-of-Work models like Bitcoin. This means that people who hold a certain amount of ETH can stake it to help verify transactions, receiving newly issued ETH in the process.
Many of the biggest and most exciting projects in the crypto space are built on Ethereum. The platform’s ERC-20 standard is the architecture that powers more than 20 of the coins on CoinJar – including all the major DeFi projects – while NFTs (non-fungible tokens) came into being thanks to ERC-721.
How to buy Ethereum: Buy ETH on CoinJar
Are you asking yourself, "How can I buy Ethereum?" Here are the steps.
-Download the CoinJar app on iOS or Android. This is the most convenient t way to access CoinJar’s services and features. You can also use the web version of CoinJar, but the app has a more user-friendly interface.
-Create an account with CoinJar and verify your ID. This is required to comply with the regulations and laws in your country. You will need to provide some personal information, such as your name, email, phone number, and address.
You will also need to upload a photo of your ID document, such as a passport or driver’s license and in some cases a proof of your address such as a utility bill or bank statement. The verification process may take a few minutes or hours, depending on the volume of requests.
Due to UK regulations, UK customers will need to answer a questionnaire about understanding the risks. UK residents are required to take an assessment and then wait 24 hours (see below).
-Transfer money into your CoinJar account. You can do this in several different ways, so choose the method that suits you best. You can use a bank transfer or make a purchase using a card among other methods.
-You can then use the funds in your account to buy Ethereum at the market price or place a custom order.
-CoinJar provides a secure and convenient wallet for storing your Ethereum and other cryptocurrencies. You can access your wallet from the app or the web.
You can also send and receive Ethereum from other wallets using your CoinJar address or QR code. If you prefer to use a different wallet, you can transfer your Ethereum from CoinJar to any other compatible wallet.
-Welcome to the Ethereum club!
