Ethereum (ETH/USD)

Ethereum (ETH) to US Dollar (USD) exchange rate.

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Product Type: CryptocurrencyMarket: Global
Currency: ETHTrading Hours: According to market
Measurement Unit: Base Currency [Ethereum (ETH)]
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Contrary to popular belief, Ethereum is not exactly a cryptocurrency (also known as digital, or virtual currency). While it is based on the same blockchain technology that cryptocurrencies use, Ethereum employs that technology to enable developers to create distributed applications, contracts, etc. Within the Ethereum network is a cryptocurrency, Ether, which can be used as an alternative to actual money, similar to Bitcoin. However, the primary use of Ether is to enable users to navigate the Ethereum platform, and pay for the applications within.

Blockchain technology is essentially a public ledger of all transactions. With cryptocurrencies, every transaction is an individual block in the blockchain, as are balances owned by coin holders. Each account owner has a personal key to his account, enabling him to make transactions, and then those transactions become part of the public blockchain. Miners solve complex mathematical puzzles in order to release blocks of cryptocurrencies, and receive some of the coins as a reward for successful mining. This is also true with Ether coins, within the Ethereum network. Anyone can mine Ether from their computer using free open source software, but as the number of people actively mining coins increases, so does the difficulty in mining them.

For all that Bitcoin revolutionized online transactions, it has its shortcomings. First of all, transactions are slow, taking approximately 10 minutes to process. Second, the number of coins that can be mined has an upper limit – 21 million – and that limit is fast approaching, as more than 16 million have been mined as of this writing.

To address the first of these issues, Ethereum transactions can be completed almost instantaneously. Regarding the second Bitcoin drawback, Ether coins have no limit, or, at least not one that the company has revealed or decided upon.

ETH/USD is the price of Ethereum, or more specifically, the Ether coins, in U.S. dollars (USD). Throughout 2016, Ethereum showed modest gains, going from just under $1 at the beginning of 2016 to $7.98 on December 31. The price steadily rose in the opening months of 2017, and by mid-May, it passed $100. One month later, the price had tripled and was over the $300 mark. It remained in the low-mid 300s until mid-November, when the price began to skyrocket, and by December 20, ETH/USD was worth $823.

Traders who wish to purchase Ether, but are deterred by the rising costs are able to purchase fractions of coins. For example, if Ether costs $800, and you purchase $200 of it, you would then own 25% of a coin, or 0.25 Ether coins. If ETH/USD then jumps to $1,500, the value of your 0.25 coins would increase to $375.

Risk Warning: As with any investment, trading Ethereum CFDs carries no guarantees. Your capital is at risk. The contents of this page are for general information only, and not intended to provide investment or trading advice

Interesting Facts:

  • As of December 20, 2017, the market capitalization of Ethereum was over $79 billion, making it the second largest digital currency in the world, after Bitcoin
  • Ethereum was launched in June, 2015
  • As many as 18 million Ether coins can be mined annually
  • Since 2009, more than 1,300 cryptocurrencies have been launched. Besides Ethereum, Fortrade offers three other cryptocurrencies for CFD trading: Bitcoin, Litecoin, and Dash