Ethereum is an open sourced and decentralized platform used for the operation of smart contracts. It is a very innovative technology that is providing new and technically advanced ways of doing things. The software of Ethereum also provides a cryptocurrency called “ether” which has gained and continues to gain a tremendous amount of value as the Ethereum network gains popularity. This cryptocurrency can be used as a payment gateway for various applications such as the depositing of funds into an online trading account. More and more brokers are starting to accept Ethereum as payment when they learn of this new technologies benefits and capabilities.show more
Ethereum has only been around since 2015, but has since grown immensely in popularity and is one of the most sought-after technologies and cryptocurrencies on the market. Ether is like bitcoin in the sense that it’s a digital currency, however, there are many differences. For one, using ether as a payment method is much faster, almost instant, while bitcoin transaction times vary.
As well, the technology ether is based on is much different than that of bitcoin. While bitcoin is made to be strictly a cryptocurrency with the technology of the blockchain, ether is a cryptocurrency with an innovative platform using blockchain technology to execute smart contracts for new decentralized applications and ideas. However, regardless of all the technicalities of these cryptocurrencies, Ethereum is a viable option for many traders making deposits to their trading accounts.
Using Ethereum to deposit funds into your account is a new and innovative method. Online trading brokerages are just recently starting to see the benefits that this technology provides for being a payment processor. Traders are benefiting from this as well, below we’ll look at the key benefits that deposits with Ethereum presents.
Fast Deposits – Ethereum is among the fastest deposit methods available to online traders. The technology is mush faster for deposits than other cryptocurrencies such as bitcoin.
Convenient – Depositing with Ethereum is so easy and convenient, it can be done within seconds. There is no need for the signing of papers and documentation.
Safe & Secure – The Ethereum cryptocurrency is highly encrypted making it impossible to hack. As well, users stay anonymous, so there is no threat of your personal and financial information being stolen.
Global Acceptance – While Ethereum isn’t a widely accepted method of payment among brokers, it is accepted around the world and offers the same instant execution from anywhere.
Low Fees – Ethereum has considerably lower fees than many other forms of payments. It only costs a few cents to send money across the world in an instant. With that price and speed, it’s hard to beat.
Depositing funds through Ethereum is very quick and can be done in a few simple steps. Before you can deposit funds, you must have an Ethereum wallet with sufficient funds of ether inside. The whole process of creating an Ethereum wallet and buying coins can be done online in only a few minutes. Once you have a wallet with your desired number of ether, the steps to funding your online trading account is as follows.
The whole process is very simple, fast, and secure.