Ethereum - A Report Brought to You by Q8 Trade
What is Ethereum?
Ethereum is a public open-source platform based on the blockchain chain, which functions as a smart contract that facilitates the conclusion of an online contract that actually mimics traditional contracts while providing security and trust.
Ethereum was proposed in late 2013 by programmer Vitalik Butterin, and its development was funded by online audiences during July / August of 2014, and its platform began operating on July 30, 2015.
Ethereum proves to be one of the most convenient technology investments of all time, and since it was developed in 2015 has grown by more than 1000% in other words, Ethereum is an open source network, much more than just a digital currency.
Ethereum digital currency
Ethereum is a digital currency known as the “ether” that can accelerate the decentralization of the global economy and has the potential to influence many other industries.
Ethereum is supported by a variety of about 500 affluent companies, where these companies met in 2016 to discuss and unify the power to develop the Ethereum technology network.
The currency of ether trading can be volatile and can serve as a financial asset for traders. Ethereum Classic is the original version of the series Ethereum blocks and is the latest version that was created by it, and adopted the latest version named Ethereum.
The blockchain “Blockchain” is not compatible, and updates on one will not affect the other. These changes led to the creation of a new cryptocurrency with a different name, record, price and market value. Developers were looking for a way to distinguish between Ethereum and Bitcoin, and made it exclusive with features that stand out in their own market.
They have developed a new approach with a new platform and a more common writing language. Its software allows customers to run any software, which makes Ethereum from the chain of blocks and their application more efficient than before.
With Ethereum, developers can build a new type of software called “decentralized application”. These technological codes cannot be controlled by any individual nor by any centralized system.
Features of Ethereum technology
- The application can never be stopped.
- All applications are protected against theft and piracy due to secured encryption.
- It cannot be controlled, as applications are based on the principle of collective decision-making.
- No third party can make any changes to any data.
- Ethereum has more applications than Bitcoin.
- Ethereum moves forward with an easy-to-use platform, which in turn enables people to benefit from the use of the advanced blockchain system.
Ethereum price and market factors
It has been observed that atrium can be more than just a cryptocurrency, as its value in the blockchain chain in terms of programming language is great. It is meant to be something completely different from all the other coins.
With its increased application, there is a rise in demand by developers.
When there is a rise in currency rates, it enhances investors’ desire to trade cryptocurrencies, where gains and profits can be obtained.
Ethereum and Bitcoin are considered uncompetitive to each other, both can benefit when the price of one of them rises. There are some random events that can affect the rise or fall of the price of Ethereum, such as: Sudden and strong crash in the value of Ethereum in general, which occurred during the month of June 2017.
The news of the Ethereum crash happened within a short period of time, literally just a few seconds after a major sell-off which prompted other traders to liquidate their cryptocurrency. Within seconds, however, computer algorithms made the purchase again as the price recovered.
The volatility of cryptocurrencies could change prices in a matter of seconds. A strong increase in value could ultimately lead to price correction, as is the case in the cryptocurrency market or any other market, and momentum can also slow at some point.
There are 30 large banks, technology giants, and other organizations united to build business-ready versions of the program behind Ethereum.
Why trading Ethereum is profitable?
Ethereum (ETH) is the second largest cryptocurrency in 2019 and is considered one of the most popular cryptocurrencies thanks to a huge boost from major corporations such as Toyota, BMP, Microsoft and Intel. And others, it has enjoyed large successful crowds with huge gains. However, there are a lot of people who prefer to talk about them rather than trading them.
Ethereum vs. Bitcoin
When we talk about cryptocurrencies, Bitcoin is the first thing that comes to mind for anyone, immediately followed by Ethereum, so what’s the difference between them?
Some believe that Bitcoin is better than Ethereum due to the novelty of the second currency and the first legacy, as the Bitcoin platform appeared in 2009 while the platform Ethereum appeared in 2015, but that does not mean a measure of trade-off between these two systems.
How to buy or get Ethereum
To buy or get Ethereum or any currency digital other, there are several simple steps is to open an account for trading digital currencies, and then after the completion of the registration process, should be based financing your personal account, and finally starts to begin the trading process, but this is not the only way to get On Ethereum, there are many sites and platforms that sell cryptocurrencies against traditional currencies. There is also the so-called mining process, but this is a difficult and complicated process as well as it is very expensive in terms of time and effort.
Features and other information about the Ethereum digital currency
Ethereum is one of the most important cryptocurrencies in the crypto or crypto market.
This currency is very similar to the Bitcoin digital currency, it is based on the same system in which it operates, and the advantage of this currency is not only alternative currency, but can be used to create a set of decentralized applications.
At the beginning was a currency Ethereum equivalent to about US $ 2.8 and then began to grow and rise continuously until it reached its highest level and reached about US $ 21.5, and then resumed the decline to settle at the price of $ 12 and then set off even reached more than $ 1,200 dating back to In addition, it has a market capitalization of more than $ 23 billion.
Ethereum cryptocurrency is characterized by the absence of a maximum value of the currency on the market, and the users of Ethereum contribute to the enhancement of the platform with computing capabilities and they can instrument currency, which leads to the establishment of about 5 coins of Ethereum in a period of about 15 to 17 seconds.
Features of Ethereum
- Ethereum was created to serve platform users as well as reward those involved in terminating online operations.It is also used with decentralized applications (dApps) developed through the Ethereum network, unlike Bitcoin, which was created as an alternative payment method.
- Ethereum has an unlimited supply, unlike Bitcoin, which is expected to end by 2140, at 21 million.
- Most projects have been built on the Ethereum network, so Ethereum will always be needed, making it one of the right long-term options, so Ethereum is one of the most important digital currencies in the global arena.
Facts about Ethereum
- Open Source is an open source platform capable of creating new tokens by other developers.
- FinTech plays a major role in the development of the financial technology industry, through the continuation of financial operations and the creation of applications for smart contracts, and one of the main reasons for the rise in the price of Ethereum is the entry of large banks in the system such as Barclays Bank, HSBC and other major financial institutions.
- At the beginning of Ethereum launch, about 60 million Ethereum was sold during the pre-sale phase as well as about 12 million Ethereum to develop the business.
What are the differences of Ethereum from other cryptocurrencies?
Ethereum is more than a cryptocurrency: The Ethereum system was created in order to be more comprehensive and larger than a cryptocurrency, as it is a complete decentralized system through which to do many things, including:
- Financial trading: Although Ethereum is more general than a digital currency, it has its own digital currency to be used in all financial transactions through this system. This currency is called Ether. It has the name Ethereum.
- The work of smart contracts through the system Ethereum.
- The work of intelligent applications replace traditional applications through Ethereum.
How do you make profits from the trading of Ethereum with Q8 Trade?
- Trading Ethereum through leverage to increase the value of your investment.
- Read and follow the news of cryptocurrencies and Ethereum day-to-day, as the news has a significant impact on the level of currency performance in the Forex market.
- Stop-loss orders should be placed with more patience as stop-loss orders are pre-defined and executed by the Q8 Trade platform without reference to the trader.
- Follow-up technical analysis of Ethereum, which is to study the movement of the market through the use of charts, in order to predict the future trends of currency rates, and in order to take profit through cryptocurrencies, must analyze the market conditions in addition to forecasting its form, which contributes to the achievement of many profits.
How to trade Ethereum through CFDs with Q8 Trade?
You can trade Ethereum with Q8 Trade Q8 Trade through the following:
- Choose Ethereum as a trading tool.
- Determine the type and size of the deal.
- Study and implement stop loss and risk management orders.
- Monitor the deal and close it when you achieve your goal.