Introduction
Technically speaking, Ethereum is unlike any other cryptocurrency. Powered by its digital currency, the Ether (ETH), Ethereum is a decentralized, blockchain-based software platform that hosts a payment system and an app store on its network.
Probably other than Bitcoin, Ethereum's ETH comes as the next most popular cryptocurrency today. Based on market capitalizations, it holds the second spot and is among the most widely traded crypto assets on eToro.
Simply say: The Ethereum universe is where users can have secured and reliable transactions by using smart contracts under no bounds of any censorship and regulation. What Bitcoin did to Blockchain technology—by inventing it—Ethereum is improving it.
Remember: the Ethereum is the system, while the ETH (Ether) is its native currency. We will learn more about the ETH more than the technological composition of the Ethereum system, as ETH is the cryptocurrency you might want to invest on.
77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
History of Ethereum
Inspired by Bitcoin in 2012 at the young age of 17, Vitalik Buterin first became a writer for Bitcoin Magazine. Much of his articles talked about how to improve the Bitcoin platform. Part of his recommendations includes a proposal of his idea for Ethereum.
Frustrated at having his suggestions fall on deaf ears, Buterin decided to create his own. After being crowdfunded in 2014, Ethereum was launched on July 30, 2015 with 72 million ETH coins.
How Does Ethereum and Ether (ETH) Work?
As the local currency of Ethereum, Ether is the one that powers it. It makes sense that it is called as the "gas".
Each transaction made on the Ethereum system requires an amount of ETH—or the 'gas'—in order to proceed with the transaction.
Using ETH in the Real World
Ether (ETH) fuels all smart contracts in the Ethereum network. For example: If John wants to pay Leo 15ETH to build a fence for his house, he can do so by using an Ethereum smart contract.
The transaction will occur like this: Leo will receive his 15ETH payment from John ONLY when Leo is done building John's fence.
With the help of Ethereum's smart contract technology, John won't be able to pay Leo until the fence is finished. With 'smart contract', all transactions are considered safe and not prone to any forms of cheating.
A snowballing excitement is being generated by using Ethereum today in the so-called DeFi applications (Decentralized Finance) being built by developers in the Ethereum platform. These blockchain-based financial services applications can bypass banks and other brokerages.
Sergey Nazarov, co-founder Chainlink, a leading Smart Contract Network said:
Thousands of developers are building applications that recreate traditional financial products in decentralized ways on top of Ethereum, and as more and more users pour in to interact with these apps, they require ETH (ether) to conduct any transaction.
Advantage of Ethereum
Many analysts see Ethereum as a more flexible cryptocurrency than Bitcoin because it is programmable according to how it is being used. It can easily verify business transactions, payments and contracts.
The transaction time of Ether is faster compared to other digital currencies plus a growing number of 'brick-and-mortars' retailers and online merchants are starting to accept ETH. One major example is the giant auction house Christie's which started accepting ETH as payment in 2021.
Although considered as a volatile crypto with expensive "gas" (transaction) fees, Ethereum comes with several upsides. These includes the following:
- More scalable than Bitcoin
- Considered as very secure
- Conducts Smart contracts and dApps
- It was designed by a revolutionary blockchain technology
- Ethereum boasts of highly regarded developers keeping tab of the platform
Ether Mining
Similar to Bitcoin, there is also "mining" involved in Ethereum. Called as such because it resembles an act of mining golds, but in Ethereum, "miners" are digging through the network of transactions to verify.
Mining in Ether is known as "Proof-of-Work" or the PoW and every miner (an Ethereum node) is given one Ether as a reward for verifying a transaction.
Like Bitcoin, mining in Ether requires a powerful computer and generates a lot of power making it unappealing to the eyes of environmentalists.
ETH Price History
The ETH price can be compared to a roller-coaster with a lot of upsides, some downward slopes in between long lines of slight movements. It is regarded as one of the most unpredictable cryptocurrency in the market today.
Ethereum Price AUD
If you want to view the price of ETH in Australian Dollars or AUD, then the currency pair you should be looking for is the ETHAUD or ETH-AUD.
When you see ETHAUD, it means the AUD price of Ethereum. The Australian dollar is what Australians and their territories use as currency. Both ETH and AUD are very popular. ETH is considered to be the next most established cryptocurrency while the Australian dollar is one of the world's leading reserve currencies.
Here's the thing:
Market sentiment is hugely important when it comes to the value of any currency pair that features a cryptocurrency. Recent trends in public opinion and the media can have a large impact on cryptocurrency prices. Along with affecting the price of individual cryptocurrencies, it can also affect rates as well.
When it comes to accepting cryptocurrencies, Ethereum is said to rank among the most popular ones on the market. When leading companies like Toyota or Walmart join the network, they contribute to making Ethereum a more credible cryptocurrency and one of the most appealing securities for investors.
Interested to invest in ETHAUD?
You can start trading the Ethereum / Australian Dollar pair with eToro by clicking on the button below. This will take you directly to their trading page so you can get a preview of how the platform looks like. Should you decide to invest on this crypto asset, then you can quickly open an account in less than a minute!
TRADE ETHAUD NOW!
77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
If you believe that ETH's price will rise, then you may open a long position in ETHAUD. Shorting Ethereum is a great choice if you think that cryptocurrency's value will eventually decrease. Because AUD is sensitive to changes and is influenced by high interest rates and exposure to Asian markets, decisions made by the Reserve Bank of Australia are likely to have an impact on this currency.
Via the ETHAUD trading page, you will be able to see the live Ethereum price in AUD (some even call it share price).
Take note: ETHAUD might be restricted to view-only mode depending on your country of residence and the official regulator your account is under. In case this crypto asset is restricted, you will see a notification on its trading page and the "Trade" button will be disabled.
Keep in mind that you may still be able to access the Ethereum price in AUD chart and keep track of its market performance by adding it to your watchlist. User discussions are still allowed.
If you're looking for Ethereum price AUD prediction from the experts, then you should go to eToro's ETHAUD trading page and view the newsfeed. Alternatively, you may also click on the News tab. This will show you the current sentiment trends, which quantifies how news and social media feel about this particular pair.
Ethereum Price GBP
The Ethereum crypto and the fiat currency Pound provides a pairing that traders see as a complementing one. As the quote currency, the GBP brings satisfactory levels of liquidity, stability and volume wherein with ETH, it brings in the volatility side.
On a given trading day or up to several days, the ETHGBP pair may see its price move upward or downward. After a week or a month, it can also have sideways movements in accordance with shorter trends. On average, the price of ETH to GBP moves less than 5% throughout a trading day and fluctuates to more than 25% within a month..
If you want to follow the price of ETH in Great Britain Pound or GBP, then you must start tracking the market movements of this currency pair ETHGBP.
ETHGBP denotes the price of Ethereum in British Pounds. This currency is used in Great Britain — yes, despite the existence of the EURO, it remains as one of the most popular currency. With Brexit coming to reality recently, GBP has become one of the most sought currency to pair.
With the ETH attracting interests among investors, the pairing of Ethereum and Great Britain Pound, combines to creating a solid currency pair.
Putting two and two together, the tandem of ETH, being one of the most established cryptos, and the GBP, being one of the word's impactful currencies, investors have nothing but massive potential waiting for the ETHGBP pairing.
Here's the thing:
When it comes to investing on cryptocurrency and forex pairs, it pays to be well informed about market trends, economic forecast, currency movements as well as with public opinion and media coverage of the financial industry.
There are several ways that affects the price of cryptocurrencies and rates of currency pairs. Therefore, traders often choose currencies with solid history of strong performance and when it comes to cryptocurrencies, Ethereum stands out as among the strongest and most popular in the market.
When top companies such as Amazon, Google, Microsoft, Intel and more, starts using implementing Ethereum blockchain technology, they also contribute to ushering Ethereum to become a more dependable cryptocurrency and one of the most prized and safe securities for investors.
In order to successfully trade the ETH/GBP pair, one must first understand the Ethereum platform, and how they are interconnected with the broader context of the crypto market and blockchain industry.
To achieve a higher success rate when it comes to trading ETH/GBP, you must take note of the ETH's volatility — which is almost ten times higher than GBP's volatility rate. As a result, when trading this pair, your focus should be more on the cryptocurrency base of the pair rather than the GBP. Understanding the Pound sterling's dynamics is also crucial, though less vital than knowing the ins and outs of the ETH universe.
Follow the ETHGBP trading page on eToro to get real-time updates on ETH and GBP prices.
Interested to invest in ETHGBP?
If you are already sold on the idea of betting on the high prospect of the Ethereum / Great Britain Pound pair with eToro, simply click the button below. This will lead you to the trading platform itself, where you can familiarize yourself with the easy-to-understand interface. Before starting to invest on this crypto pair, you need to open an eToro account — which only takes a minute or two.
TRADE ETHGBP NOW!
77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Take note: The availability of trading ETHGBP depends on your country of residence as it relies on the regional regulators where your eToro account is registered. In instances where ETHGBP is unable to trade, users will only see it in a "View-only" mode, since this crypto asset is set to restricted. A disabled "Trade" button will be shown instead of a clickable one.
However, you may still access and view the ETH and GBP price charts to follow its market performance by including it in your watchlist. You can still participate in the user discussions on the page.
There is also a mine of useful information to be uncovered on the ETHGBP eToro trading page as experts share useful trading tips and predictions for the said pair. To learn more about the pair, simply click the "News" tab to learn the sentiments of the eToro community about the ETHGBP pair.
Trade Ether (ETH) via CFD
CFD Trading or "contract for difference", is a popular trading method that comprises of an agreement to exchange the difference in value of a trading commodity—in this instance, the Ether (ETH)—from when you open a position to when you close it.
You can do CFD trading on the eToro platform on a variety of cryptocurrencies including Ethereum's Ether (ETH).
How to Trade Ether (ETH) on eToro?
- On your eToro dashboard, click "Discover".
Clicking "Discover" on eToro - Select "Crypto".
Selecting "Crypto" on eToro's platform - Scroll down to look for "ETH".
Looking for Ethereum on eToro's list of crypto assets - Click "Buy" and set the amount you want to invest.
 on eToro's platform.webp)
Buying Ethereum (ETH) on eToro's platform - "Click "Open Trade".
Executing ETH buy order on eToro
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.