Ethereum (ETH) is a cryptocurrency, a payment system and an application platform. The community has established a hot digital economy with innovative new earning possibilities for content creators. What’s more, it’s open to everyone from anywhere on the globe – all you need is access to the internet. Cryptocurrency holders will often recommend it as a good investment due to it’s high market stake, popularity and accessibility.

Why is it Valuable?

Ethereum is a cryptocurrency with two purposes: to pay for things online and to run the decentralized applications built upon it. Like Bitcoin, Ethereum operates on its own blockchain which maintains a ledger of balances and transactions.

The Ethereum blockchain is capable of running much more complicated algorithms called “Smart Contracts“. These are programmed to perform tasks that release funds when certain conditions are met between two parties, enabling a whole new class of applications that Bitcoin would not be able to support.

Ethereum Simply Put

If Bitcoin is gold 2.0, then Ethereum is the Internet 2.0.  It’s a new protocol, built with the power of the community at its core. You can learn more about Ethereum in our Coin Spotlight Series.

How do I buy ETH?

There are 4 things you need to know before you can start using Ethereum:

1) Sign up to a Cryptocurrency exchange – Use a reputable one like Coinbase or Binance (depending on where you live).

2) Transfer money to your account – Each exchange is different but you will need to transfer money in order to purchase cryptocurrencies.

3) Buy Ethereum – In just a few clicks you’re the proud owner of ETH! But you don’t really own it until it’s in your own wallet.

4) Transfer – transfer your ETH to your Gridlock wallet. Gridlock allows you to keep your cryptocurrency safe, with ease. Always make sure you are transferring to the right address so that you don’t lose any of your funds.