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Is Ethereum a Good Investment in Australia? Is It Worth Buying?

Ethereum is an integrated software platform that works through blockchain technology to create applications — specifically censorship-resistant decentralised applications. The idea behind the creation of.

Posted May 6, 2021
Last updated December 27, 2021

Illustration of the Ethereum logo with two people pointing to it in the center to visualize the topic of is ethereum a good investment.
Illustration of the Ethereum logo with two people pointing to it in the center to visualize the topic of is ethereum a good investment.

Ethereum is an integrated software platform that works through blockchain technology to create applications — specifically censorship-resistant decentralised applications. The idea behind the creation of Ethereum was to create an improved version of the pioneering cryptocurrency Bitcoin, although the two projects are very different.

What makes Ethereum special?

It’s a decentralised platform

Ethereum (not to be confused with ether (ETH), which is the cryptocurrency of this platform) is a decentralised platform for software development. This is an astounding fact, because that means Ethereum is not under the control of any financial or government institution.

In other words, it is a 100% autonomous protocol and governance is observed among all the volunteers’ computers around the world, thus eliminating the probability of Ethereum “disappearing”.

More functionality than Bitcoin

While Bitcoin is primarily a P2P payment system intended to carry out transactions. which are processed without intermediaries, Ethereum has expanded the capabilities of its own network. This allows it to implement coding language functions, manage decentralized operations, and even web browsers.

Unique network economy

Ethereum can be treated like another version of the Internet, which is decentralised, censorship-free, and uses its own currency as means of payment to acquire services.

Ether, like Bitcoin, is a digital asset that does not require the participation of third parties to start negotiations. Although this cryptocurrency also participates (and with a high price) in the market, it also serves to allow developers to make updates and/or changes to their applications within the Ethereum network, just as if it were fuel to work.

No matter the reason for buying Ethereum, it is always a good investment, and crypto exchange platforms in Australia (and all over the world) know it.

Check the latest ETH rates: Click here to view the latest Ethereum rates in Australia.

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Rainbow Ethereum logo on a navy background.
Ethereum is the second largest crypto by market cap, but is it a good investment? Image source.

Reasons why Ethereum is a good investment

Ethereum is the second most popular cryptocurrency in the market today. That’s because it has the potential to compete with Bitcoin and has many benefits to offer. Here are those benefits and reasons that make Ethereum a good investment:

1. Fast evolution

Ethereum is a cryptocurrency that saw its origins in 2014, and since then it has gone through a steady increase in its prices and trading volume. The digital currency is just barely 6 years old and has better growth indicators than Bitcoin has had in its first years of history.

Ether has shown very favorable prospects particularly this year, going from trading at $8 to registering values today above $2000 per unit.

Experts in the area of cryptocurrencies assure that Ethereum is barely seeing its beginnings and that its performance may be much more promising in the years to come.

2. Accessible price

Surely those interested in entering the ecosystem of digital currencies the first alternative that comes to mind is to invest in Bitcoin, although it is possible that many think twice when they see the value that digital currency currently registers per unit.

For its part, Ethereum is a much cheaper currency that also enjoys good standing and reputation. Acquiring ETH tokens is easier in terms of investment than thinking about buying whole Bitcoins.

If we consider this point in light of the aforementioned, it could be a smart purchase to invest in Ethereum right now, since its value is expected to increase in the long term.

3. Faster and cheaper transactions

One of the problems afflicting Bitcoin users right now is the existing collapse within the network, which results in the owners of assets in the digital currency being forced to pay higher commission margins than usual so that the respective transfer arrives as soon as possible to its recipient.

With Ethereum, this does not happen. Despite the fact that the volume of operations and the number of users making transactions is much higher than that of Bitcoin (especially due to the incorporation of ICOs), the digital currency network promoted by Vitalik Buterin manages transfer costs equivalent to some few cents, and the same is confirmed by the Blockchain in less than approximately 30 seconds.

Vitalik Buterin is speaking in public a forum.
Vitalik Buterin, co-founder of Ethereum. Image source.

4. Easier to mine

Knowing that Ethereum is a worthy investment, a lot of people stopped buying it and actually mine it. Unlike Bitcoin, to carry out mining activities with Ethereum it is not necessary to have a mining CPU specially designed for that purpose, since they are not compatible with the digital currency network. Just as you can buy ETH in Australia, you can mine ETH tokens too.

Instead, users interested in mining assets should only invest in video cards destined for this purpose and install them on the corresponding computer. While mining activities require some important technical knowledge, Ethereum reduces the burden on stakeholders by minimizing the initial investment margin, since the hardware required to mine the digital currency created by Buterin may be cheaper than those traditionally used for mining Bitcoin.

5. Programmed and optimal evolution

Ethereum’s team of programmers has a series of documents in which they inform users about the most important updates to be made to the digital currency infrastructure, in order to improve the operation of the network and gradually convert it into a platform that best suits the needs of its users.

This represents an important point in comparison to the situation that Bitcoin was presenting, since to make important modifications to its operational components, the approval of at least 85% of the ecosystem mining participants was required, since they would have to carry carry out the installation of the respective changes in your mining devices so that the network can assume the respective change.

Although miners have the opportunity to decide which version they prefer, the advancement of the network is mainly led by the main programmers, who, to cite an example, launched Metropolis (a proposal to improve aspects of the network as the issue of scalability) a couple of years ago, while Bitcoin carried out the installation of SegWit after almost more than two years of heated debates regarding the future of the currency digital.

6. Growing commercial adoption

In recent years, the number of exchange services and companies that have seen Ethereum as a good economic opportunity has grown, as they have sought to incorporate into the digital currency.

Ethereum tokens are illustrated as physical coins

What are smart contracts and why they are important?

Smart contracts are a set of instructions that execute agreements specified by two or more parties, causing a certain action or protocol to be carried out after these conditions are met. That is, when a pre-programmed condition occurs, the smart contract automatically executes the corresponding clause.

These smart contracts “live” in an atmosphere not controlled by any of the parties involved in the contract, in a decentralized system.

Basically, the conditions are programmed, signed by both parties involved and placed on a blockchain so that it cannot be modified. Blockchains, as we know, are shared networks and governed by the consensus of all participants, therefore, it cannot be modified or falsified.

The main objective of these contracts is to implement a higher security status than the traditional contract, reduce costs and reduce the time associated with this type of interaction.

Is now the best time to buy Ethereum?

Considering the current price of Ether, we are facing one of the best times in history to buy as many tokens as we can. If we analyze a chart of ETH / USD in a monthly timeframe, we will realize that the price has already fallen everything that had to fall from its maximum price since it was launched to the market and has started a new uptrend that, although it will take time to take Ethereum to much higher levels could return us up to 100% of our investment in the medium term.

Let’s not forget that Ether was trading at $440 for a long time and it’s a solid range for the cryptocurrency, so it’s likely to hit that price again soon. The charts define Ethereum as a great investment opportunity.

Also, remember that there are many cryptocurrencies that have different functionalities and since they belong to the Ethereum blockchain, they can only be acquired by ETH tokens. In short, we are facing the best time to buy Ethereum if we ignore the first year of its launch and its ICO (Initial Coin Offering), obviously.

Read more: Click here to learn how you can buy ETH in Australia.

Is it safe to buy Ethereum in Australia?

It is 100% safe to buy Ethereum from Australia as long as you are registered on the correct platform to do so. It should be noted that although the cryptocurrency boom gave rise to many large exchange companies that carry out very useful procedures, a new class of scammers also appeared, which we must avoid at all costs if we are interested in protecting our money.

However, Australian residents will be able to buy ETH tokens from the local Easy Crypto AU exchange platform, where you can register and verify your account through a KYC process, thus establishing a relationship of trust between the user and the exchange to carry out the desired negotiations.

At the time of writing Ethereum (ETH) is currently trading at AUD $4,463.14 after reaching a new all-time high just a few hours before, and with a current market cap of AUD $517,180,444,064.

Screenshot of Easy Crypto Australia homepage.
Get the best rates on ETH in Australia with Easy Crypto.

Easy Crypto has affordable spreads and a very simple process to buy cryptocurrencies (ETH, in this case) with AUD, so it is not necessary to acquire other cryptocurrencies first to make the purchase, although there are also other payment methods in crypto.

Buy ETH: Click here to buy Ethereum in Australia.

If you have doubts, the Easy Crypto customer service team will accompany you throughout the process so that you have the best experience buying cryptocurrencies.

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Disclaimer: Information is current as at the date of publication. This is general information only and is not intended to be advice. Crypto is volatile, carries risk and the value can go up and down. Past performance is not an indicator of future returns. Please do your own research.

Last updated December 27, 2021

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