Assets, Ethereum

Am I Buying Ether When I Buy Ethereum?

When it comes to cryptocurrency, Ethereum and Ether are often used interchangeably. However, there is a big difference between the two.

Ethereum is a decentralized platform that runs smart contracts, while Ether is the cryptocurrency that powers the Ethereum network.

So, when you buy Ethereum, you are not actually buying Ether. Instead, you are buying a share in the Ethereum network.

NOTE: WARNING: When buying Ethereum, you are NOT buying Ether. Ether is the currency used to transact on the Ethereum network, while Ethereum is the platform itself. Therefore, when purchasing Ethereum, you are not purchasing any form of currency.

This share will entitle you to a portion of the resources that are used to power the network, including processing power and storage space.

In return for providing these resources, you will be compensated in Ether. The amount of Ether that you receive will be proportional to the amount of resources that you contribute to the network.

So, when you buy Ethereum, you are investing in the future of the network. By doing so, you are also helping to create a more decentralized and democratic internet.

Previous ArticleNext Article