Trade ETHUSD - Ethereum Trading

What is Ethereum

Ethereum is the second-largest cryptocurrency after Bitcoin, with a total market capitalization of $354B. Unlike Bitcoin, the history of Ethereum is quite public. The concept of Ethereum was proposed in 2013, by Vitalik Buterin, the founder of Ethereum, who was only 19 at that time. His idea was to create a network that will run on decentralized smart contracts, automating real-world transactions and making the process a lot more efficient. The Ethereum network uses Ether (ETH) as a medium of exchange and currency on which the network is run. Ethereum’s next goal for upcoming years is to eventually "merge" the current Ethereum Mainnet will with the beacon chain proof-of-stake system, marking the end of proof-of-work for Ethereum, and the full transition to proof-of-stake. Ethereum is not only limited to recording what’s on the currency transaction history. It is both a currency and a platform that helps to develop other platforms and currencies, which makes the world’s second-largest currency very different in nature from its bigger “brother” Bitcoin.

How to Trade Ethereum with 3 Easy Steps

As the second most popular cryptocurrency in the world, Ethereum (ETH) day trading is one of the most popular crypto activities today. Learning that traders should buy low and sell high isn't enough if you want to start trading ETH effectively. Entering transactions with that level of understanding will almost certainly result in losses. With that said, let's go through 3 easy steps to start day trading Ethereum.

1. Make a trade plan

Having a plan is the first step to trading Ethereum effectively. You must understand what you are doing and what you are aiming for. A smart strategy plus a precise pricing analysis make up a good plan.

2. Open an account with a trading platform

After you have done your research, you'll need an account to place your trade orders. Low costs and commissions, a large number of supported markets, and access to investing tools and features are some of the characteristics you should look for when evaluating the top day trading crypto platforms. Starting with additional benefits, you may open an account on any exchange platform or with any broker.

3. Begin trading

Finally, for your third and final step, set up your order and begin trading Ethereum. Trading Ethereum can be less intimidating for beginner traders since the cryptocurrency market is open 24/7 for 7 days a week. Due to high volatility and being a relatively new asset class, the crypto market has led to significant price swings. As a crypto day trader, you don’t need to worry about whether the coin goes up or down, as you can make money out of both.