1. Signup on Savitar
To get started, you need a Savitar account. It provides you with a safe way to store your Ethereum, as well as a platform to buy and sell them with your local currency.
2. Credit your account
After signing up, you’ll need to credit your account. Before that, you’ll have to complete some verification steps. Once your account has been validated, you will be able to add your credit card or credit your account through wire transfers.
3. Buy and sell Ethereum
You are now able to buy Ethereum. Since its price fluctuates, you can check it before validating your purchase. Once you confirm your purchase, we’ll complete your order and deliver your Ethereum. It works exactly the same simply the other way around for sales.
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What is Ethereum (ETH)?
Ethereum is an open-source public computing platform and operating system based on the blockchain. It features a Turing-complete smart contract functionality, which let developers implement sophisticated logic. One of the first applications of Ethereum’s smart contract is Initial Coin Offering (ICO) – used to raise funds to finance projects built on top of the network.
Ethereum evolves in a different competitive landscape than payment cryptocurrencies such as Bitcoin or Litecoin. Ether is a cryptocurrency whose blockchain is generated by the Ethereum platform. Yet, Ethereum is more than a mere payment system: the protocol provides a decentralized virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes.
- Concerning adoption, Ethereum is uncontested. The network observed roughly three times the transaction volume of Bitcoin since it overtook it around June 2017. Ethereum has by far the most significant developers community. Finally, Ethereum greatly benefits from ConsenSys, a company created by one of its co-founder to promote and evangelize the network. It provides an entry point for companies interested in getting started with the Ethereum network.
- Ethereum is also one of the most decentralized cryptocurrency projects. The EIPs (Ethereum Improvement Proposal) and ERCs (Ethereum Request for Comments) let the community contribute to the development of the project.
- Since its releases in 2015, the Ethereum platform demonstrated its reliability. There were some scares, but the community was able to grow and progressively weeds out its issues. Besides, the network is stable despite behind the most widely used: the last latency was in the middle of the cryptokitties craze in December 2017.
- Just like Bitcoin, Ethereum is facing a scalability dilemma. The current transactional capacity does not allow for mass adoption. Besides, the consensus protocol (PoW) causes a significant energy consumption to power the network. Different projects are in work to enable the network to scale.
- The most critical upcoming update for the network is the Casper update: the network will switch its consensus protocol to adopt Proof of Stake progressively. If successful, the transition will help increase security while speeding up the network. The shift is very high stakes considering the market capitalization reached by Ethereum.
- While ICOs were an immense success, with $6bn raised in 2017 and already more than $20bn in 2018, most of which on the Ethereum network, they could be detrimental for the Ether’s price. Indeed, ICOs have a centralizing effect as one actor collects many tokens from different investors. Besides, since the actors we are talking about are development projects, they need liquidity: it creates a lot of selling pressure on Ether.
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