With the recent announcement that NFL superstar Odell Beckham Jr. would be taking 100% of his new salary in Bitcoin, adoption of cryptocurrency continues to move into the mainstream.
While Bitcoin is a name familiar to most people by now, another cryptocurrency is gaining steam as the new top crypto—it’s ether.
Since its launch in 2015, ether has grown 540,000%. This year alone saw a record price for ether, growing to a whopping $5,900.
Part of ether’s success in 2021 boils down to scarcity. Since August, about 30 million ether are being removed from circulation every single day.
New ether will be created by consuming much less energy than Bitcoin (in theory), which makes it a more appealing investment for the environmentally conscious crypto investor.
For these reasons, many people believe ether is poised to compete with bitcoin as the top cryptocurrency, with more and more Canadians looking to invest safely in ether.
What is ethereum?
While ethereum and ether are used interchangeably, there is a difference between the two terms.
Ethereum is a platform where developers can build applications and programs without needing a centralized authority.
In the same way that developers can build music apps, social media apps or work-related apps for a mobile phone, ethereum developers can innovate on top of the ethereum network. From social networks, to loan offers and crypto collectibles, known as non-fungible tokens or NFTs for short, the options for building on top of ethereum are endless.
Ether on the other hand is the currency used to pay for goods, services and applications on the ethereum network. When buying ether, investors will purchase ETH, which is the short form for ether.
With all that said, ethereum is trying to redefine the internet while bitcoin is trying to reinvent the payment system.
Ethereum is helping us reimagine how we play and work together without centralization. This is why many people believe ether will one day outperform bitcoin in what is referred to as “the flippening.”
How to buy ether in Canada
If you’re excited about the future of ethereum, you may want to consider buying ETH today.
Netcoins is an online crypto trading platform that allows you to buy and sell ether in Canada. Buying ETH is easy. You just need to follow five steps:
1. Create a Netcoins account and get verified.
2. Deposit Canadian dollars into your account via e-transfers (or bank wires, online bill payments or crypto deposits)
3. Click BUY, and choose ETHEREUM from the drop down menu.
4. Enter the amount you wish you to buy (as little as $10 or as much as $10 million)
5. Click confirm
The benefits of buying ether with Netcoins are many.
First of all, Netcoins is Canada’s first publicly owned and fully regulated crypto trading platform. This means that everything from how they operate to how they store their customers’ funds and the fees they charge are vetted and approved by Canadian regulators.
The second advantage is that Netcoins offers 0% funding fees, free cash withdrawals and no fees on cancellation for limit orders.
Users can also enjoy limit orders, which are trades that self-execute once specific crypto prices are met. Price alert notifications keep you updated on any significant price movement so you can trade at an optimal time for you. With their mobile app you can buy bitcoin and buy ethereum and more easily.
Netcoins’ online trading platform is easy to use no matter your level of crypto knowledge. Canadians can get started in just a few minutes, with help available to anyone who needs guidance.
With the future of ethereum shining bright, now may be a great time to buy ether with Netcoins.ca.
This article is written by or on behalf of the sponsoring client and does not necessarily reflect the views of Castanet.