Ethereum 12 days of christmas Wirex

SHARE
← Back to articles
SHARE

On the 11th day of Christmas, Satoshi gave to me… Ethereum (ETH)!

December 22, 2017 8:30 am Published by

We’re getting down to the wire now, and we hope you’ve got your decorations and presents sorted for Christmas.

If you’ve joined the crypto scene this year and learned about Bitcoin – chances are you have also heard about Ethereum.

So, let’s take a look!

What is Ethereum?

Ethereum is an open-source, public, blockchain-based distributed computing platform featuring smart contract functionality.

This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and much more, all without a middleman.

More facts about Ethereum:

  • Established Date: July 2015
  • Circulating Supply: 96,333,093
  • Total supply: Uncapped at present
  • Market cap: $69 Billion USD
  • Notable team members: – Vitalik Buterin, Founder

The Price

At the beginning of 2017, Ethereum started at $8.16 US dollars.

Today it’s around the $715 USD mark

That’s roughly an 8650 % increase in the year!

 

Ethereum price graph

Source: Coin Market Cap

Why the hype?

Ethereum was the first blockchain platform to offer decentralised smart contracts which are resistant to censorship, fraud or third-party interference.

You could say that Ethereum was the grandfather of Initial Coin Offerings, ICOs.

2017 was a huge year for launching new blockchain projects and it seemed as though the majority were on the Ethereum network. For investors to get involved in an ICO, they were first asked to send Ethereum to the wallets of the startup. And as you can imagine, with promises of ridiculous returns, potential investors would(and still) purchase Ether to get involved.

So should you buy some Ether to get involved with new projects? With anything, we urge you to do your own research first before jumping in.

Buy, Store & Spend Ethereum with Wirex

Our development team have added the integration of the Ethereum wallet onto the roadmap for Q2 2018. Soon you’ll be able to buy, store and spend Ether within the Wirex app (more about this shortly).

Whilst we are working on the development of the Ethereum wallet, you can still deposit Ether into your Bitcoin wallet (we’ve integrated with Shapeshift), making it ready to spend via your Wirex card.

It’s just a few taps away. If you’re new to Wirex, it’s free to sign up.

What are your thoughts on Ethereum? Yay or Nay? Check out our post on Ethereum vs Ethereum Classic for a deeper dive into the history of Ethereum.

Join the discussion in our community forum below.

The case for Stablecoins

Cryptocurrencies pegged to a stable asset (often a traditional currency), are known as stablecoins. These are considered “the holy grail of crypto” by some enthusiasts; however, the most common use case for stablecoins is as a liquidity tool for cryptocurrency exchanges. Many exchanges are denied access to traditional banking because banks are often wary of… View Article

The great mystery of currency exchange

Most of us are familiar with the task of exchanging currencies, but understanding the intricacies involved can be a challenge. Currency exchange appears to be a relatively simple transaction; in fact, the mechanics are quite complex. To help make things clearer, here’s an explanation of a few basic terms that will help you get to… View Article

How Singapore is becoming a crypto-hub

When it comes to cryptocurrency adoption, the Asia-Pacific region is way ahead of the curve. The likes of South Korea, Hong Kong, China and Japan were early adopters of crypto and blockchain technology; now, Singapore is quickly emerging as a world leader in the mainstream adoption of digital currency. Regulatory Stance The Monetary Authority of… View Article

ICO image
Why Wirex is not an ICO

Initial Coin Offerings (ICOs) have received a lot of press but not always for the best reasons. Experts estimate that over 80% of ICOs have fraudulent intentions. Unfortunately many people tend to associate any company that works in the crypto space with ICOs, and this may have a negative effect on the entire industry. So,… View Article