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If you’re here for buying Ethereum in Australia, this guide is for you! We’ll show you how to get started and safely store your Ethereum. We’ll also give you tips on where to buy Ethereum in Australia. Let’s get started!
What is Ethereum?
A smart contract is a program that runs exactly according to the instructions it is programmed to run, without any influence from third parties or fraud. There is a price associated with each operation in the Ethereum protocol and blockchain. The general unit of account in Ethereum is called Ether.
Ether can be transferred between accounts to compensate participant nodes for computations performed. In addition, Ethereum provides a Turing-complete virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes.
Ethereum was proposed in 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer. Development was funded by an online crowd sale between July and August 2014. There were 11.9 million coins “premined” for the crowd sale when the system went live on 30 July 2015. There is approximately 13 percent of coins in circulation.
In 2016, as a result of the exploitation of The DAO project, Ethereum was split into two separate blockchains – the new particular version became Ethereum (ETH), and the original continued as Ethereum Classic (ETC). The value of the ETH token has since become one of the most traded digital currencies.
How to buy it?
If you’re thinking of buying Ethereum in Australia, here’s what you need to do.
- In order to get started, you’ll need a digital wallet. We recommend using the official Ethereum Wallet, which can be downloaded.
- Once you’ve done that, you’ll need to purchase some Ether. The easiest way to do this is through an exchange like Cointree.
- Finally, once you have your Ether, you can send it to your wallet and start using it on the Ethereum network!
Tips for storing your Ethereum safely
Ethereum is unique in that it allows you to write code that controls the money and build applications accessible anywhere in the world. You need to know a few things to store your Ethereum safely.
- First, you’ll need a secure place to keep your Ethereum. This can be a hardware wallet, like MetaMask.
- Once you have your wallet set up, you’ll need to generate a seed phrase and store it in a safe place. This is your backup in case you lose access to your wallet.
- Finally, if available, you’ll need to choose a strong password and enable two-factor authentication.
By following these steps, you can ensure that your Ethereum is safe and secure.
Where can you buy your Ethereum
Cointree is an Australian-based digital currency exchange that is the best option for buying Ethereum. It also allows you to buy, sell, and trade various cryptocurrencies. One of the advantages of using Cointree is that they offer a wide range of payment methods, including bank transfer, credit/debit card, and POLi.
They also have a very user-friendly platform for those new to cryptocurrency trading. In addition, Cointree offers a variety of tools and resources to help you make the most out of your trading experience. Overall, Cointree is an excellent option for those looking to buy Ethereum.