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What is ETH

Ethereum is a decentralized, open-source, programmable blockchain launched in 2015 by Vitalik Buterin, Joseph Lubin, Gavin Wood, Charles Hoskinson, and Anthony Di Iorio. The leading blockchain platform allows users to perform a host of activities, including transacting using its native token, Ether (ETH), running decentralized apps (dApps), minting and trading non-fungible tokens (NFTs), and more.

The best way to understand Ethereum's blockchain is to view it as a computer. Instead of running on one device, Ethereum operates as a decentralized blockchain platform. It runs on several devices or nodes worldwide simultaneously and allows anyone to write programs and run them on the computer.

Ethereum currently uses the energy-intensive Proof-of-work (PoW) mining algorithm to validate transactions on its network. However, it is currently transitioning to the more efficient Proof-of-stake (PoS) algorithm, which is projected to radically decrease the network’s energy consumption and make it more scalable.

The native cryptocurrency of the Ethereum blockchain is Ether (ETH). Ether is created when transactions are verified and added to the blockchain in a computationally-intensive process known as mining. ETH is used to carry out transactions and pay for services on the Ethereum blockchain.

Why buy ETH with OKX?

What can I do after I buy ETH?

Ethereum is one of the most popular blockchains in the world. Its native token, Ether, is the second-largest cryptocurrency by market capitalization, boasting a market cap of over $500 billion at its peak.

ETH can be used to transact directly with others without the need for intermediaries. Ethereum's network runs some of the largest and most popular decentralized finance (DeFi) protocols, DApps, and games. To use the applications built on Ethereum, you need to have some ETH.

Ethereum is also undergoing a process to change its consensus mechanism to POS. This process commonly referred to as "The Merge," will make the Ethereum blockchain 99.95% more energy-efficient and significantly more scalable. Once complete, you will even be able to stake your ETH and get rewarded for doing so.

Ethereum is one of the most popular blockchain networks after Bitcoin due to its strong fundamentals and various use cases in various niches.

In just a few clicks, you can buy ETH on OKX with various payment options. To get started, create an account on OKX, complete your verification and buy ETH with VISA, MasterCard, or ApplePay credit cards.

How to buy Cryptocurrency and store it safely?

Guide on how to buy Ethereum (ETH)

Buy ETH with your credit or debit card

You buy ETH directly with your credit or debit card. We support cards from all the major providers like MasterCard and Visa, denominated in over 92 local currencies.

Buy ETH through the peer-to-peer (P2P) market

You can buy ETH through OKX's diverse P2P market, which connects buyers and sellers directly with each other. Visit our "P2P trading" page to find a suitable seller and initiate a transaction. You can pay with bank transfer, cash, or any other payment method accepted by the seller. Our escrow service protects you through the entire process.

Buy ETH via the spot market

You can buy ETH in our spot market using various cryptocurrencies, such as Bitcoin, Litecoin, and USDT, to name a few. Visit the "spot trading" page to place an order once you have any suitable cryptocurrencies in your OKX wallet. You can buy any of these cryptocurrencies with your local currency via the "Buy with card" or "P2P trading" page or transfer them into your OKX wallet from an external wallet.

Buy ETH with your other cryptocurrencies

Use OKX's Convert feature to instantly convert any of over 100 cryptocurrencies, including BTC and USDT, to ETH for free and without any price slippage. Once your cryptocurrency is in your OKX wallet, head to the "Convert" page to get them instantly converted to ETH.

FAQs

Can I buy ETH with my credit or debit card?
Yes, you can. Just visit the "Buy with card" page, fill out the form on the page appropriately, and click the "Buy ETH" button to initiate the transaction.
Can I buy ETH with a bank transfer?
Yes, you can via the P2P market. Find a suitable seller on the P2P market who accepts bank transfers in your local currency and transact with them.
Where do I find my ETH?
You can find your ETH in your OKX wallet. Visit the "Assets" page to see all your cryptocurrency holdings on OKX.
How many Ether tokens are there? And is there a maximum number of them?
There are about 120 million Ether tokens in circulation right now. As of today, there is no limit on the amount of Ether that can be created. However, some predict that there will be a limit in the future.
Where do new Ether tokens come from?
Ether tokens are created through a process known as mining. Mining is the process by which validators run computationally intensive mathematical operations to confirm the authenticity of transactions on the Ethereum blockchain.
What are the most popular cryptocurrencies to invest in today?
Top cryptos, based on market capitalization or total circulation value, include Bitcoin (BTC), Ethereum (ETH), Tether (USDT), USD Coin (USDC), and XRP (XRP).
However, like all other cryptos, the above are also featured with volatility and risks. You should do your own research (DYOR) and evaluate your risk appetite before investing in any cryptos.
What are the top cryptocurrencies I can buy on OKX now?
OKX provides access to hundreds of cryptos and trading pairings. Some of the most popular cryptos on OKX include BTC, ETH, USDT, DOGE, SOL and OKB.

You can visit our brand-new OKX Crypto Calculator. Select a crypto and a fiat currency to check the estimated real-time price.