Investing in best defi crypto is a sure-shot way for you to diversify your portfolio. When it comes to Cryptocurrencies, Ethereum is the second-largest Cryptocurrency in the world after Bitcoin, considering its market cap. Along with Cryptocurrency, Ethereum also offers other decentralized networks and smart contracts on its network. So, to earn yourself a profit in the Cryptocurrency market, it is especially important that you choose the right crypto exchange like KuCoin and understand trading ETHUSDT.
What is Ethereum?
This blockchain platform was created in 2015, and it has gradually yet strongly risen in rank to grow into the second largest Cryptocurrency and the largest Altcoin in the Cryptocurrency market. Altcoins are Cryptocurrencies other than Bitcoin. Ethereum, Tether and Dogecoin are all popular forms of Altcoin today. However, Ethereum manages to stand out amidst all of them. The Cryptocurrency of the platform Ethereum is Ether.
When compared to Bitcoin, Ethereum is actually a faster blockchain as the blocks are very easy to mine when it comes to Ethereum. Another benefit that Ethereum has over Bitcoin is that the total number of Bitcoins that can be mined is limited. Sources suggest that nearly 19 Million Bitcoins have already been mined, which only leaves behind 2 Million Bitcoins out of the total 21 Million Bitcoins.
Even though Ethereum can also function as a medium of exchange just like Bitcoin, its main purpose is decentralization applications. Ethereum acts as a platform for dApps to be created. The Ether token is a medium for all the applications and Smart Contracts that are built on the platform. Moreover, if you’re just getting started with crypto trading, we suggest you choose KuCoin crypto exchange platform for better trade options. You can hold your crypto for a longer period with full safety and can earn massive profit in the future.
How to Buy Ethereum on KuCoin?
There are several ways to buy Ethereum on KuCoin, the most common of which is utilizing Cryptocurrency Exchanges. These exchanges offer several ways, ranging from Margin trading and Decentralized trading to Spot trading and Person-to-person trading. You can deposit fiat currencies on these exchanges and purchase Cryptocurrencies like Ethereum in exchange. So, select KuCoin and research it before depositing your fiat currency.
You can also buy Ethereum directly from other owners of Ethereum, by either placing private ads or through peer-to-peer exchanges. All of this demands caution from you. So, research well before you set out to buy Ethereum.
How to Trade ETH?
Once you’ve purchased ETH, the next decision is where and how you’re going to trade it. You can make use of exchange platforms, or you can use a regulated broker. The next question is about your trading mechanisms. You can either focus on the short-term fluctuations in the Cryptocurrency market prices, or you can focus on the long-term and hold.
Usually, trading in short-term fluctuations is considered risky. So, you must only choose this after gaining experience in ETH trading. Until then, you can hold the ETH, which is a much safer investment option.
The Bottom LineThis was everything you needed to know about trading in ETH price as a beginner or as an experienced investor. So, make the most of it now and start trading on KuCoin.