What is Ethereum?

Launched in 2015, Ethereum is a unique digital platform that was created using the same foundational technology as crypto.

June 16, 2022

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Is Ethereum like other cryptocurrencies?

Ethereum isn’t just another type of crypto. It’s a unique digital platform that can be used to build applications.

It launched in 2015 using the same foundational technology as crypto.

The Ethereum platform isn’t owned by one person, company, or government. Instead, it’s enabled and supported by users all over the world with access to it.

Uses for the Ethereum platform

Developers are building all sorts of applications using this new technology.

There are art marketplaces, music streaming, video games and virtual worlds, social networks, financial apps where you can lend and borrow crypto...and so much more.

Think of it this way:Ethereum is like a car, and ether is the gas that fuels it.

Riding the volatility roller coaster

Ether is the world’s second most popular cryptocurrency after Bitcoin. And like many other cryptocurrencies, the value of ether can go up and down very quickly without warning.

For example, the price of ether hit its all-time high of $4,865.57 in November 2021. And just a few months later, in January 2022, its price dropped back down to $2,411.91. *

What that means for you:Trading cryptocurrency can be risky so it’s important to decide for yourself if you’re comfortable buying it.

If you do decide it’s the right move for you, think about how much you want to invest in crypto. Make sure it’s not money from your emergency savings or that you may need to pay your bills.

Essentially, if you can’t afford to lose it, don’t use it.