A step by step guide on how to buy & store the Ethereum Classic (ETC) cryptocurrency

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An exploit in the smart contract underlying the DAO decentralized autonomous organization enabled an attacker to syphon millions of Ether which had been invested into the DAO smart contract.

Many regarded this as deplorable censorship on the blockchain whereby all transactions are immutableand as a result the original Ethereum chain was maintained and rebranded as Ethereum Classic. The means to purchase Ethereum Classic is similar to buying Ether on the main Ethereum chain. You can buy Ethereum Classic at any of the following exchanges; those wishing to trade Ethereum Classic without having to worry about the security and storage of ETC can do so by trading at eToro.

Cryptocurrencies can widely fluctuate in prices and are not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Your capital is at risk. Ethereum Classic has a lower market cap than Ethereum, however its potential for growth has been very apparent since it was formed in July To understand the possible return on investment for ETC, it is best to first look at the key players behind the cryptocurrency and their role in ensuring its success.

Grayscale Investments has played a leading role in the market cap growth and adoption of Ethereum Classic so far. IOHK can be seen in the same light as Bitcoin Core, a team of developers who set out the roadmap and contribute code to the underlying software. This includes implementing decisions made over monetary policy as noted below. Barry Silbert, Charles Hoskinson and their associated companies are committed to the success of Ethereum Classic.

They are developing the tools and interest that are required for the successful adoption of any cryptoasset, and Ethereum Classic is a significant beneficiary of their hard work. One of the key factors to consider when looking to invest in any cryptocurrency is the monetary policy which belies it.

Such a scheme is expected to fix the supply of Ethereum Classic at roughly M — M coins. This is not too dissimilar to Ethereum, where the difficulty bomb and move to a proof of stake algorithm is expected to fix supply at roughly M tokens. Many investors have steered clear of Ethereum and Ethereum Classic due to its perceived inflation, however the idea that these two blockchains will have a perpetually increasing token supply is a falsehood.

As with any consensus-driven blockchain; these rules can be changed in the future. However, it is clear that the Ethereum Classic team wish to position ETC as an investment vehicle, and for that reason a fixed and deflationary currency supply is key. As we have seen with both Bitcoin and Ethereum, strong demand will ultimately require scaling solutions which increase network throughput by many orders of magnitude. The number of how to buy ethereum and ethereum classic that can be processed on the Ethereum Classic blockchain currently stands at roughly 15 transactions per second.

These fragments are much smaller in size than the original blockchain, and transactions can be validated much more quickly whilst retaining the security required for a public blockchain to function effectively. The details of how sharding will be applied to the Ethereum Classic blockchain are minimal at this stage — however it is likely to follow similar techniques to those outlined by the Ethereum Foundation.

As it may now be clear, despite Ethereum and Ethereum Classic being incompatible with one another, they do provide very similar technology with an aligned roadmap for development.

The point at which these two blockchains diverge will be through the introduction of the Casper consensus mechanism expected to launch in on Ethereum. This consensus mechanism moves Ethereum from Proof of Work to Proof of Stake — the latter ensures how to buy ethereum and ethereum classic are validated by those who make a financial stake in Ether as opposed to those who mine new tokens with their GPUs. Ethereum Classic has so far shown no interest in using a Proof of Stake consensus mechanism, and may indeed find that many existing Ethereum miners move to Ethereum Classic when their hash power is made redundant.

As mentioned, the incompatible nature between Ethereum and Ethereum Classic means that an Ethereum wallet cannot receive Ethereum Classic tokens. It is important that users looking to purchase Ethereum Classic do so through a specified ETC wallet. There are several how to buy ethereum and ethereum classic these wallets available to users today, including Classic Ether Wallet which runs through how to buy ethereum and ethereum classic source code and is widely regarded as one of the most secure ways to store ETC.

Other Ethereum Classic wallets are available including Jaxx. As with any cryptocurrency, storing tokens on your hard drive can result in loss of funds if the private keys are not backed up and the hard drive fails. Storing coins on an exchange can also result in the loss of funds should the exchange go rogue or become insolvent as has happened several times throughout history.

The most secure way to store Ethereum Classic or any other cryptocurrency for that matter is through a hardware wallet. These hardware wallets store funds offline in a physical USB device. The most trusted of these wallets is the Ledger Nano S which holds a strong reputation as an unhackable ETC storage device. Those who are more familiar with crypto can also use a Trezor hardware wallet, however this requires interfacing with MyEtherWallet — something which will certainly be confusing to new users.

Once you understand the differences between Ethereum and Ethereum Classic it is possible to draw your own conclusion as to whether this asset is under or overvalued. The price of Ethereum Classic does not share any correlation with Ethereum, and the fundamental use case of Ethereum Classic must be judged on its own merit.

Given the influential companies which back this cryptoasset, it is likely that the currency is here to stay and that its utility how to buy ethereum and ethereum classic users, developers and businesses will grow in the future. At this point in time, the Ethereum Classic ecosystem is relatively small in comparison to Ethereum, but as these two blockchains diverge and the utility of Ethereum Classic becomes clear, it is possible that the cryptoasset matures into a high growth asset.

In summary, Ethereum Classic appears to be a more risky purchase how to buy ethereum and ethereum classic the more established coins, but at the same time it has the potential for generating higher returns than its counterparts.

A diversified crypto portfolio would do well to include Ethereum Classic. This how to buy ethereum and ethereum classic is intended to provide a clear summary of Ethereum's current and historical price as well as important updates from the industry. I've also included a number of ERC20 tokens which can be found in the tokens tab at the top right. Please note, weighted average exchange prices update very slowly for some ETH and token how to buy ethereum and ethereum classic.

Investors should seek professional financial advice. Kraken has the world's largest cryptocurrency volume in EUR. Ethereum Classic as an Investment Ethereum Classic has a lower market cap than Ethereum, however its potential for growth has been very apparent since it was formed in July Ethereum Classic Supply One of the key factors to consider when looking to invest in any cryptocurrency is the monetary policy which belies it. If you're looking to purchase the former, read our guide on buying Ethereum.

Ethereum Classic Demand and Scaling As we have seen with both Bitcoin and Ethereum, strong demand will ultimately require scaling solutions which increase network throughput by many orders of magnitude.

How does Ethereum Classic differ from Ethereum? Ethereum Classic Wallets As mentioned, the incompatible nature between Ethereum and Ethereum Classic means that an Ethereum wallet cannot receive Ethereum Classic tokens.

Should I buy Ethereum Classic? We use cookies to better provide our services. By using our services, you agree to our use of cookies.

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We need to re-build leonArdo for every new customer. There are other cryptocurrencies that pride themselves on faster transaction and deposit times. You purchase some stocks, and then you sell them when you are ready, right. The vision of Airbit Club is to bring digital currency use and adoption to the people of the world by teaching and training people about its various use cases.

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