The Ethereum environment was developed in 2015 by programmer Vitalik Buterin with the vision of creating a tool for decentralized applications.
The Ether (ETH), its original cryptocurrency, is a token you can use in transactions that use this software and is the second most profitable and demanded on the market.
On the other hand, Ethereum is the digital platform of blockchain technology (blockchain), covering many applications.
Ethereum today is worth 2,619.92 USD.
This cryptocurrency makes use of a digital book accessible to all, in which all transactions made are recorded. It is reliable and secure, impossible to falsify or alter, and provides immediate availability when consulting information. Also, you can use Bitcoin to buy things or even Ethereum.
How to exchange this Cryptocurrency?
Cryptocurrencies have positioned themselves as the means to carry out any virtual commercial exchange transaction through technology, and this is due to the security that it facilitates and provides the necessary tools to carry out these processes.
Although there are still people who do not know how to acquire these cryptocurrencies and then exchange them for the desired option, in this particular case, we will study how to trade Ethereum for Dollars.
There are two forms of exchange for this cryptocurrency which are:
-
Person-to-person change
Also known as P2P, for its acronym in English, this strategy is the best known and used by users.
One of the disadvantages is the high possibility of suffering a scam if you do not know who the exchange will be negotiated with and the fact that there is no way to justify transfers in dollars.
-
Exchange by an intermediary
If we have investments in Ethereum and want to convert them to fiduciary currencies such as the Dollar, the first thing we should do is find a business or exchange platform that uses this cryptocurrency as a means of payment and open an account.
At the time of the change, we will be instructed to provide the connection to a real bank account and other complementary information, such as our date of birth, address, and telephone number.
After the account has been configured, we must choose the currency for which we will exchange our Ethereum, which in this case will be the Dollar.
The leading exchanges provide wallet services, in which we must look for a button that says sell, which we must enter to locate the address of our newly created wallet.
When we are already inside it, we will select to send the exact amount of Ether that will change, from its backup location to the new wallet, a transfer that is executed almost instantly.
To know how much the amount to receive will be, it must be calculated automatically based on what is established by the current market exchange rate, market instability, and the size of the transaction.
Once the operation is completed, the money will be reflected in our account, where we can later withdraw it using a transfer to the understanding that we have previously indicated, which can take between three and four days.
When we withdraw our funds, we will have to cancel some commission depending on the exchange platform that we have chosen.
Conclusion
The Ethereum exchange process is not complicated; we have to have a little knowledge when selecting with whom and through which we will make the change to avoid possible fraud.
Having investments in cryptocurrencies is a good option since they are being accepted by most businesses worldwide, and when exchanging, we have many safe and reliable alternatives to carry out the transaction.
When you want to carry out exchanges, you must specify that they are moments where it does not affect you, and you lose, say that the cryptocurrencies are stable to obtain the best profit from them.
When very significant falls are recorded, it is not profitable to change; it is best to wait for the markets to be restored to avoid possible damage to our capital.
In a short time, cryptocurrencies will be the protagonists of the new virtual revolution of the economy, where the cryptographic markets will be the ones that lead all types of investment and commercial negotiation regarding stable and financial investments.
Ethereum is declining its market share in the NFT exchange for the benefit of more current blockchain such as Solana; experts have given scoops that it will reach a significant boom in 2022, although it has started the year with bearish trends, analysts assure a rapid bullish recovery.
It is estimated that by 2025, Ethereum will reach a value of $19,842, speculation made by the director of transactions at Pitbull Capital, Sarah Bergstrand.
