In this Ethereum Classic (ETC) description for beginners, you'll be able to find all essential information about this cryptocurrency, which will allow you to get to know it from its simpler and more understandable side. Without all the technical details regarding blockchain, chains, transactions, etc. I am aiming for you to get to know Ethereum Classic in the easiest way, so you learn all the basics involved. If you ale looking for its professional, 2000 page description, and the explanation of how it all works on blockchain with technological details, you won't find it here :)
I want to keep it simple!
What is Ethereum Classic?
Ethereum Classic (ETC) was created in 2016, as a result of splitting the chain of Ethereum cryptocurrency.
It has a very interesting story: in June 2016, a hacker has used the hole in Ethereum blockchain, allowing the theft of millions of Ethereum cryptocurrency coins. To stop the following thefts and to fix the damage, someone came up with the idea of splitting the old Ethereum chain, creating Ethereum Classic. Because of that, we now have to separate cryptocurrencies: old Ethereum (the mother!) and young Ethereum Classic (the child which 'got born' as a result of the chain split). Both of these cryptocurrencies are independent, with separate rules of operation, separate price and charts. And both of them stay on the list of leading cryptocurrencies!
Today, ETC is an open-source, public, blockchain-based distributed computing platform featuring smart contract functionality. Fast and cheap transactions.
Ethereum Classic: Decentralized. Immutable. Unstoppable:)
ETC has some of the largest network activity of any blockchain, consistently higher than Bitcoin Cash, and neck-and-neck with Litecoin. They have multiple developer teams, all of whom are committed to the long term ETC vision. They are in the top-10 in programmer activity (measured by code commits) and have numerous sources of funding.
Where buy Ethereum Classic?
You can buy Ethereum Classic in many cryptocurrency exchanges and markets.
Using bank transfers, for example: Coinbase,
Using Credit Card, for example: Coinbase, Binance , Changelly
Or using cryptocurrencies on hundreds of others Cryptocurrencies Exchange Platforms
Where to sell Ethereum Classic?
For example here: Coinbase, Bitbay.
Remember that investing in cryptocurrency is a high risk activity: nobody knows whether a price of particular cryptocurrency will go up or down. If you are planning to buy Ethereum Classic, or other cryptocurrencies - don't assume that you will definitely earn.
Unfortunately, it is a new business sector and there are a lot of changes happening every day. There is no profits guarantee and the probability of losing is high.
Where to store Ethereum Classic?
Here you have lot of options, choose the best for you and your coins safety.
Hardware wallets (the most secure!): Ledger, Trezor
Desktop Wallets: Atomic Wallet , Exodus Wallet,
Mobile Wallets: Coinomi, Jaxx
Web wallets: MyEtherWallet, MyCrypto
Where Ethereum Classic is accepted?
You can find a lot of shops, internet services and much more companies accepting Ethereum Classic, here: https://cryptwerk.com/pay-with/etc/
Frequently asked questions:
How high can Ethereum Classic go?
Lots of people ask ''How high can Ethereum Classic go''? Although every investor who buys ETC would like the price to grow as high as possible, there has never been and there will never be a definite answer to this question. All predictions regarding the future price of ETC (same as every other cryptocurrency) are only speculations which do not have to happen in real life.
Is Ethereum Classic a good investment?
It is difficult to unequivocally say whether the investment in Ethereum Classic is good or not. It may turn out that the price of this cryptocurrency will significantly increase in the future, so it may be a good time to buy it now. But unfortunately, it may also drop. The price of each cryptocurrency is influenced by the market, buyers, sellers, number of transactions, acceptance of this particular cryptocurrency, events that relate to it, as well as what governments think about it. All those factors are variables, and what we have today, does not have to stay identical in the future.
That's why Ethereum Classic may be a good investment, but it does not have to be. The time will tell.
Important:I am not an investment advisor!
I am just the publisher, and I’m not taking responsibility for any cryptocurrency or company, listed out here. When you join or invest in a cryptocurrency, or any other program of your choice, it is only your responsibility. It means that I am not responsible for your loss. The information provided here is based only on my own research, and you don’t have to agree with them!
I do not recommend spending what you cannot afford to lose!