The modern world is changing so rapidly that it becomes more difficult to keep up with the times. Nowadays, even mining Bitcoin seems to be somewhat outdated, while more innovative blockchain technologies appear. One of them is Ethereum 2.0, which will become a breakthrough in the blockchain’s infrastructure. If you are interested in what it is and why you should trade it right now, you will appreciate the following information.
- What is Ethereum 2.0?
- Reasons to Start Trading Ethereum 2.0
- Proof-of-Work vs Proof-of-Stake Concepts
- Helpful Tips for Ethereum 2.0 Trading
What is Ethereum 2.0?
Before you invest money in Ethereum 2.0, you should understand what it is and how it works. So, Ethereum 2.0 or “Serenity” is an updated version of the Ethereum blockchain. Its main aim is to create apps or decentralized applications. It’s a community-built technology. The only thing you need to benefit from it is stable Internet access. Your background or location does not matter.
Ethereum is about banking for everyone. This blockchain deals with its cryptocurrency known as ETH. This technology possesses one great advantage. It provides a peer-to-peer transaction system. It means there is no need to trust a third party or one another.
The other pluses of this blockchain include the following:
- Awesome downtime: It would be best if you weren’t afraid of unexpected shutting down of the application;
- No censorship: Ethereum is a platform that is absolutely independent of government or authorities. It means no one can control it;
- No fraud: Smart contracts (programs that run on the Ethereum blockchain) are absolutely safe. You shouldn’t be afraid of digital scammers.
Although Ethereum is considered one of the most significant blockchain technologies, it still has several minuses. The main of them are possible breakdowns in the system, a few tutorials, and the use of too many platforms. No wonder, crypto developers do everything possible to refine the blockchain and to make the use of it as convenient and satisfying as possible.
Ethereum 2.0 is a result of such attempts. It differs from its predecessor by a better network’s scalability. “Serenity” can process more transactions. Some experts believe that Ethereum 2.0 is able to end BTC blockchain dominance. How? By making trading easier and more accessible for a wider range of users.
Reasons to Start Trading Ethereum 2.0
There are various ways to obtain cryptocurrency. You can buy it via your credit card, exchange through the online converter, or mine it. You can hardly find a person who has never heard of crypto mining. It’s the process in which the transactions are verified and added to the definite blockchain digital ledger. The main condition for successful crypto mining is the use of enough computing power. It means you have to possess powerful computers. Such equipment is very expensive. Moreover, the process of mining is time-consuming. No wonder, you can hardly find solo miners. There are special crypto farms created to produce crypto tokens. Modern users give up an idea of crypto mining. The technology of Ethereum 2.0 is a perfect solution. It requires little computing power.
The next implicit reason why Ethereum 2.0 trading can be rather lucrative is the introduction of a unique processing technique called sharding. This technique allows achieving massive and long-term scalability. The implementation of shard chains allows to provide users with 100,000 transactions per second. To estimate the difference, you should keep in mind that Ethereum 1.0 supports only about 30 transactions per second. That’s pretty impressive, isn’t it?
If you decide to make money by investing in Ethereum 2.0, the first thing you should do is to choose the most appropriate platform. The problem is there are thousands of available variants on the Net. Unfortunately, not all of them are profitable and reliable. Some of the platforms are so complicated and effort-consuming that it takes months before you get first minimal results. Others lack credibility. That’s why it’s of prime importance to use only reliable and efficient platforms. For instance, the best place to trade Ethereum is Bitcoin Up. You can’t but appreciate the following peculiarities of this platform:
There are only three steps you should take to complete the registration process. The first one is to provide the service with such information as the first name, last name, email, and phone number. To become an active user of the platform, you should wait until your account is accepted and approved. It doesn’t take long.
The second step is making a deposit. The minimum sum is about $250. It’s the platform’s requirement. Yet, when it comes to Ethereum 2.0, you should keep in mind that the minimum balance should be at least 32 ETH.
The third step to take is to start using a trade option. The platform offers a wide range of available variants. Your task is to choose the most appropriate for you.
One of the reasons why people are afraid of crypto trading is that they do not understand how to get their money. They think it takes a lot of time and effort to convert tokens into traditional currency. Bitcoin Up makes the exchange process as easy as possible. It’s necessary only to click a button to transfer all the money you’ve earned to your account;
Excellent customer support
The experts of Bitcoin Up clearly understand that crypto trading is not an easy thing. There are various difficulties the users may face. That’s why they are ready to provide their customers with instant help and support.
One of the greatest advantages of this platform for crypto trading is its mobility. You can use it via any device. To do this, it’s enough to download and install the Bitcoin Up mobile App and applaud all the benefits of the platform.
Moreover, the platform is to support all the innovations that are to be introduced by Ethereum 2.0. Thus, you’ll have no problems with proof-to-stake technology.
Proof-of-Work vs Proof-of-Stake Concepts
Everyone who has ever dealt with Bitcoin or any other crypto except for Ethereum knows that it functions on the base of the proof-of-work concept. It means all the transactions are verified by other miners.
Ethereum 2.0 presents a proof-of-stake concept. The transactions are verified by validators. Unlike miners in the proof-of-work model, validators do not use hardware. It helps reduce energy consumption significantly.
There is one more important thing about the proof-of-stake model you should keep in mind. In this case, the network secures itself through the commitment of a stake. It’s worth mentioning that the more coins the users stake, the more chances they have to become a block producer. Yet, the users can lose their coins if their behavior would be determined as malicious.
There are many points you should understand about a proof-of-stake concept. The experts of Bitcoin Up support their clients in all possible ways. That’s why they can explain the main concepts of trading. Moreover, the following tips will help you become a successful trader or “staker.”
Helpful Tips for Ethereum 2.0 Trading
No matter whether it’s your first experience or you already know the score in blockchain, you should consider the following tips to make your trading more profitable and pleasant.
- Research new data: Ethereum 2.0 is only about to enter the global market. That’s why you have to read as much useful data as possible.
- Consult with professionals;
- Use only reliable platforms, such as Bitcoin Up, for example.
So, to sum it up, it’s worth highlighting that Ethereum 2.0 represents something new in the world of blockchain technologies. Although it only starts to win the global market, thanks to the Bitcoin Up, you have all chances to be the first to benefit from it and to multiply your capital.