Cryptocurrencies have taken the world by storm. Whether it’s bitcoin or ethereum, we continue to see an unprecedented demand for crypto.
Since its launch in 2015, ether has grown 540,000%. This year alone, we saw a record price for ether - a whopping $5,900 CAD / $4,800 USD; which contributed significantly to the crypto market capitalization reaching $3 trillion.
Part of ethereum’s success in 2021 boils down to scarcity. Since Aug. 5 about 30 million ether are being removed from circulation every single day.
In addition, new ether will be created by consuming much less energy than Bitcoin does (in theory).This is a major step forward for an industry plagued by narratives such as “crypto is bad for the environment.”
Together the disinflationary and less energy-intensive nature of ether better positions it to compete with bitcoin as the top crypto. For this reason, Canadians are wanting to buy ether more than ever before.
What is ethereum?
It’s important to clarify the difference between the terms “ethereum” and “ether.” Many use the terms interchangeably, saying, “I want to buy ethereum” or, “I want to buy ether”. What is more likely is that they’re really looking to buy ETH (the short form for Ether).
Ethereum is a platform where developers can build applications and programs without needing a centralized authority.
In the same way that developers can build music apps, social media apps or work-related apps for a mobile phone, ethereum developers can innovate on top of the ethereum network. From social networks, to loan offers and crypto collectibles (known as Non-fungible tokens or NFTs for short), the options for building on top of ethereum can be endless.
Ether on the other hand is the currency used to pay for goods, services, applications on the ethereum network.
With all that said, ethereum is trying to redefine the internet. It’s helping people reimagine how we play and work together without centralization. This is why, many people believe ether will one day outperform bitcoin in what is referred to as “the flippening."
How to buy ether in Canada
If you’re excited about the future of ethereum, you may want to consider buying ether (ETH) today.
Netcoins is a crypto trading platform that allows you to buy and sell ether in Canada. To buy ETH, simply follow these five steps:
- Create a Netcoins account here and get verified
- Deposit Canadian dollars into your account via e-transfers (or bank wires, online bill payments or crypto deposits)
- Click BUY, and choose ETHEREUM from the drop down menu
- Enter the amount you wish you to buy (ex: $10, $100, $1,000 - it’s up to you)
- Click confirm
The benefits of buying ether with Netcoins
First of all, you’re buying ether with a publicly-owned and fully regulated crypto trading platform in Canada. This means that everything from how they operate, to how they store their customers’ funds and the fees they charge are vetted and approved by Canadian regulators.
The second advantage is that Netcoins offers 0% funding fees, free cash withdrawals and no fees on cancelling limit orders.
Users can also enjoy limit orders, which are trades that self-execute once specific crypto prices are met. Price alert notifications keep you updated on any significant price movement so you can trade at an optimal time for you. With their mobile app you can trade crypto on-the-go.
If you’re hesitant to invest in ether, that’s alright. Netcoins’ beautiful, easy-to-use platform makes it super smooth and quick to invest - regardless of your crypto knowledge.
With the future of ethereum shining bright, now may be a great time to buy ether with Netcoins.ca.