How to buy and hold ETH with Wigwam
1. Choose a token number that you want to buy
2. Create a wallet, where to store your crypto
3. Pay with credit card
4. Check your crypto in the created wallet
Why Wigwam is the best crypto wallet for Ethereum (ETH) storage
Ultimate security, only you have access to your Ethereum tokens
Send, Receive, Store your Ethereum tokens free and without limitations
Check the real-time value of your crypto tokens
Buy, Sell, Exchange Ethereum (ETH) directly in the wallet
Stake Ethereum (ETH) by connecting Wigwam to the popular DeFi dApps
No KYC or personal data collected
Ethereum (ETH) token review
Ethereum (ETH) is a native cryptocurrency on the Ethereum blockchain that is used as a means of payment for transaction fees, as rewards for validating transactions, and as a main token currency in most DeFi/NFT applications on the Ethereum and other blockchain platforms.
What is the Ethereum blockchain?
Ethereum is an open-source, decentralized platform that allows the creation of different application types with the aid of smart contracts that are executed by Ethereum Virtual Machine (EVM). The main idea behind Ethereum was to create a trustless censorship-resistant environment where real-world problems will be fixed with the code, not people. Some of the applications that were launched on this blockchain are:
- Decentralized exchanges - where people may exchange their tokens directly without intermediaries;
- Verification services - where the authenticity of the digital works can be verified with the aid of blockchain; a good example is NFT artworks.
- Decentralized Organizations - where people may manage a community and its crypto funds in a secure and decentralized way.
What is the utility usage of Ethereum (ETH), and why is this token so important?
As we mentioned before, the main function of the Ethereum blockchain is to execute smart contracts and store execution results in the decentralized ledger. To protect the network from spam transactions, DDoS attacks, and wrong recursive smart contracts executions - the gas parameter was integrated into the blockchain. By conducting any operation on the Ethereum, a user should pay for a gas, the value of which is measured in ETH. So, it becomes economically problematic to organize a DDoS attack on the Ethereum network because it would request a huge amount of ETH for fees. The same goes for the wrong smart contract execution - it will work only while having a sufficient ETH balance and immediately stop after all ETH is spent.
Other important ETH use cases:
- ETH staking - anyone can become a validator by staking at least 32 ETH and earn rewards for securing network and validating transactions. If a user doesn’t have enough tokens, they can delegate part of this sum to another delegate and earn passive income from staking rewards without the necessity of launching their own node.
- Means of Payment - ETH is used as a main means of payment in different decentralized applications, starting from NFT marketplaces and finishing with crypto games.
- Liquidity - in many DeFi applications, ETH is used as a main token for obtaining liquidity. In the past, all projects gathered funds in ETH by conducting ICO, DEXes created token liquidity pools in connection to Ethereum tokens, etc
The total ETH supply on Oct 19, 2023 is 120.26M. ETH token has no maximum supply - it means that for every new block, some amount of ETH is generated and distributed as rewards to validators.
The average amount of tokens that is generated in one block (every 12.1s) - is around 3.5 ETH or around 15100 ETH in 24 hours.
Every user who stakes ETH may earn 4-5% APR on their staking amount.
The Ethereum token price is deeply related to the market conditions, new crypto regulations, technical updates, news etc. For this reason, ETH is perceived as a very volatile and risky investment and can cause a significant financial loss.
How do I add ETH to my wallet?
All major multi-chain crypto wallets support ETH, and you just need to send these tokens to your wallet address to see them. However, to have better protection of your funds, we advise you to use cold wallet storage, for instance, a Ledger Nano that can be integrated with any Web3 wallet, in our case, the Wigwam crypto wallet. This combination allows you to safely store your funds but, at the same time, have full access to a huge variety of Web3 applications.
Also, in the Wigwam Ethereum wallet, you may buy ETH directly in the wallet without the need to register on a centralized exchange and pass along the identity verification process.
This article is for informational purposes only and should not be interpreted as financial or investment advice. The views expressed herein represent solely the opinion of the author and are not intended to provide specific trading or investment recommendations. We do not guarantee the accuracy, completeness, or reliability of the information contained in this article. The cryptocurrency market is known for its high volatility and unpredictable fluctuations. Investors, traders, and anyone engaging with cryptocurrency are advised to conduct thorough research, consider a variety of perspectives, and acquaint themselves with applicable local regulations prior to making any investment decisions.
Numerous exchanges allow users to purchase ETH. Choosing a service wisely is crucial; it must be reputable, safe, and dependable. Reading reviews is a good idea before making a purchase. Also, you may buy ETH directly in your Wigwam crypto wallet. This action will save your time and allow you to have full control over your funds.
If you have some ETH and want to delegate it to a validator to receive staking rewards, you may use Lido.fi or other staking services to do it.
Using etherscan, one may search and monitor the Ethereum blockchain for addresses, tokens, transactions and other activities.
All wallets that support the Ethereum network have already integrated ETH token information into. So you need only to transfer or to buy ETH directly in your wallet. We recommend using the Wigwam wallet.
The primary danger associated with purchasing a token is value fluctuations. Nobody can promise that there won't be a decline in the cost of digital currency soon. Also, you should have a safe storage where you can hold your ETH tokens to protect them from stealing.