In the island nation of New Zealand, cryptocurrency investment and trade are at an all-time high. In a study of 1000 New Zealanders, 18.4% of respondents claimed they had cryptocurrency investments like Ethereum (ETH), only behind the 19.7% who said they had traditional real estate investments. The Finance and Expenditure Committee of Parliament has ordered a review into the nature and implications of cryptocurrencies like Ethereum, focusing on the benefits and impacts on New Zealand. The findings of this review will be critical in advancing ETH adoption in New Zealand. With such great promises comes greater questions like, what is ETH? Where to buy Ethereum NZ? Etc. This post will delve into the digital realm of Ethereum.
What is Ethereum?
Ethereum (ETH) is an autonomous, open-source blockchain network with its own digital money. It is the world’s second-largest cryptocurrency by market valuation. Unlike Bitcoin, though, Ethereum’s goal is to be more than a repository of value or a means of exchange. At the same time, Ethereum is an open-source computing platform that developers may use to design and execute smart contracts and decentralised apps (dApps).
Since its inception on the blockchain in 2015, Ethereum has been credited with pioneering the principle of a decentralised smart contract ecosystem. The goal of this platform is to be a global ecosystem for decentralised applications. The ETH blockchain network is powered by Ether, primarily employed to pay transaction fees, also known as gas fees.
Most crypto exchanges provide Ethereum (ETH) for purchase. It is always wise to go with a crypto exchange that offers global liquidity providers and has tiny spreads and affordable trading fees.
Benefits of ETH Technology:
- Established Extensive Network: The advantages of Ethereum include a stable network that has been put to the test during years of its existence and billions of dollars in value exchanged. It has the broadest ecosystem in blockchain technologies and a vast and dedicated international community.
- Wide Range of Functionality: Ethereum can perform different forms of financial transactions, store data for third-party decentralised applications, execute smart contracts and be utilised as a digital currency.
- Continuous Improvement: The Ethereum development community always seeks innovative methods to strengthen the network and create new applications. Ethereum is the favoured blockchain network for innovative and exciting decentralised apps due to its popularity.
How and Where to buy Ethereum New Zealand?
For those wondering where to buy Ethereum in NZ, the answer is that it can be acquired from any reputed cryptocurrency exchange platform. To purchase Eth in New Zealand, you must first create a free trading account with a licenced New Zealand Ethereum Exchange platform. To sign up, you will need to submit some information such as your name, email id, contact number, and a strong password. The following step is to confirm your account. You must verify your data and scan your ID to prove your identity (i.e. passport, driver’s licence etc.) Most users finish the verification process in about two minutes.
After your identification has been validated, you will be able to deposit fiat currency via bank transfer. Simply search for the crypto asset on the exchange’s platform, choose the quantity of Ethereum you want to buy, and confirm your transaction.
Choosing The Ideal Cryptocurrency Exchange Platform:
Choosing a crypto exchange platform that provides users with various benefits is crucial. The exchange should enable the user to trade in multiple cryptocurrencies, including ETH. Pay special attention to the platform spread and associated fees. A good exchange will have a minimum fee and spread when engaging in a transaction, maximising your returns. Look for a platform that provides nifty features like automated sell and buy orders, integrated technical charts and recurring transaction standing orders.
With the proper knowledge combined with an ideal exchange platform, trading Ethereum can be extremally rewarding financially.
