The world of cryptocurrencies is expanding steadily and quickly. There are more and more people transacting with cryptocurrencies and trading with them. With the growing demand comes the attempt to increase the supply.
Bitcoin was the first ever cryptocurrency that came into the market. From there we have seen numerous new cryptocurrencies being introduced. ICOs or initial coin offerings is a concept where new ventures introduce crypto assets into the market.
As the value grows the assets slowly get the status of cryptocurrency. One such ICO that is recently popular is Ethereal. If you would like to know more about Ethereal then we have covered several essential details about this cryptocurrency.
The Essence of Ethereal?
If you are looking for a cryptocurrency that works in a decentralized fashion then Ethereal is one of the recently popular additions to the market. This one works without any middlemen like other cryptocurrencies.
Therefore you can expect lower transaction fees. The method of using an Ethereal, transactions and trading, can be similar to that of Bitcoin. So if you have dealt with Bitcoin in the past, you would not have any difficulty in using Ethereal.
Even for the new users, this is an easy cryptocurrency to work with. In fact, this is what makes cryptocurrencies so popular. Anyone can try buying, selling and trading in cryptocurrencies without any difficulties.
The transaction methods and the timing are all quite convenient. There is the benefit of added security in comparison with other digital transactions.
Ethereal currency works on an open source cryptocurrency concept. It is based on the already popular Ethereum platform. Therefore, the benefits reaped from Ethereum coins are also applicable to this one.
They are easy and affordable to handle. Besides this, there are peer-to-peer transactions happening in Ethereal. This means that the hash blocks are directly added by the parties involved in the transactions.
The buying and selling directly happen between the buyer and the seller. In conventional digital transactions, there are middlemen and centralized exchanges. These are some of the factors leading to added transaction costs.
But this is removed when you choose Ethereal. These are not run or controlled by government based agencies. Therefore the application of the regulation on the transactions and trading in cryptocurrencies like Ethereal are different.
You would be able to choose to buy Ethereal as means of purchases, currencies, or even as trading instruments. You can also accumulate it as a long term investment plan or wealth. If you are interested in trading Ethreal or other cyptocurrencies don’t miss to read our Bitcoin Code review here.
Facts to Know About Ethereal
- The Whitepaper of the Ethereal ICO was launched in the year 2017 and the ICO was closed in the month of April 2018. This marked the beginning of the cryptocurrency status of this token. From June 2018, Ethereal has been available as a cryptocurrency option in several popular cryptocurrency exchanges.
- The ‘ERC20 token standard’ which is defined by coins using the Ethereum platform is also applicable to Ethereal. Being ERC20 compliant means that the terms of the contract for this token are the same as those of the other Ethereum coins. This means that the hash block structure, the internal code snippets follow the same format. Whether it is to check the token balance or to review and approve the transfer of the token balance, the common standards are followed.
- The founding team of the ICO is a team of forex traders and Bitcoin traders along with the support from other investors and venture capitalists.
- Ethereal is one of the smallest ICO with 30 million coins in circulation. This comprises of 20 million pre-ICO/ICO portion, 2 million coins distributed as a bonus, 8 million coins in stakeholding by promoters. This 8 million is the future reserve meant for the distribution of future bonuses and sweepstakes.
- This system offers a convenient platform for seamless access to all the functionalities of the coin. As this is a fast growing currency you would find the easy mobile app to be a handy feature to access.
- As of now, Ethereal coins can be purchased only with other cryptocurrencies. Purchases cannot be made with FIAT currencies. Therefore if you plan to purchase Ethereal you should buy other common coins like Bitcoin which are sold for FIAT currencies. You can use these coins to buy Ethereal.
What Are The Features of Ethereal That Make It an Attractive Future-Ready Coin?
- The absence of middlemen in interactions means that the transactions directly happen peer-to-peer. This doesn’t just lead to a reduction in the overheads like the transaction costs but also brings down the total transaction time. The fast transaction speed is applicable no matter where the currency is being sent. Therefore even global transactions can take place at lightning fast speeds. There wouldn’t be any processing delays. This can also be attributed to the robust system used for Ethereal which leads to quicker processing of the blocks.
- For those who are skeptical about using digital currencies for the fear of security problems, this one comes with the strength of Blockchain. Therefore the Ethereal network is quite immune to threats and hacking issues. You do not have to worry about malware attacks when you use this currency due to the reliability of the system. This talks a lot about the stability of the system and its security aspects. Therefore this one makes
- Decentralization is suggested as one of the main ways to bring down dependencies. When there is a centralized exchange the point of failure can easily be targeted. With decentralization comes the spread of the owner where the chain length increases. Therefore the system cannot be compromised that easily.
- The stability of the currency value balanced by the volatility of its price is a unique combination. This makes it possible to buy Ethereal with confidence. You have the assurance that the intrinsic value of the currency would be consistent. And the price changes give you ample opportunities to trade in Ethereal. Conversion to FIAT currency from the Ethereal reserve you own is also an easy job.
Applications of Ethereal
One of the biggest questions that people have on their minds when they purchase cryptocurrencies is, “what can I do with the cryptocurrencies I buy?” What can you really do with the Ethereal coins that you buy? How much has this coin grown and how popular is it?
- There are several places where Ethereal coins can be used in place of FIAT money in the future. Occasions like buying event passes or tickets can also be taken care of with the help of these cryptocurrencies. There are several sponsors for this currency who would allow the payment to their events with Ethereal tokens. The owners of Ethereal would also be entitled to attend various members exclusive events.
- In the future, online transactions made for shopping on e-retail websites can also be made with Ethereal. There is the added advantage of accumulating reward points for each purchase made with Ethereal. This would be similar to using other types of debit and credit cards or mobile wallets for making payments. All the collected points can be used for future transactions. Therefore you get to save money on all your online purchases.
- There are various apps and online games where you would be able to use Ethereal for in-app purchases. Online games involve the purchase of various kinds of resources and using this cryptocurrency for such payments would be allowed in all the popular mobile operating systems.
- There are crypto trading platforms that would allow buying and selling Ethereal as a trading instrument. This would be a good option for the short term investors looking for potential trading options with high volatility for better returns.
All these applications denote a portion of the future scope of this cryptocurrency. These are just examples of what could be done with Ethereal. As the coin value keeps growing and as the demand keeps increasing more opportunities are bound to open up.
Should You Buy Ethereal?
If you are looking for a relatively new cryptocurrency which has scope for growth then Ethereal is a great choice. There are several other currencies that have already grown and multiplied in their value.
Ethereal is designed to be a future-ready system. It has also be devised to tackle the limitations that other cryptocurrencies have been offering. Therefore, from the experience of the market, this currency is growing steadily.
As a result, you have a crypto asset that you can invest in with confidence. The roadmap is also defined so as to help both short term and long term investors make a good decision.
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