What are ETH and ETH2.0?


 Ethereum, launched in 2015, is an open-source blockchain with smart contract functionality and Ether (ETH) is the native cryptocurrency of the platform. Vitalik Buterin published the whitepaper of Ethereum in 2013 with the objective to build applications. Bitcoin never had a scripting language and the lack of community consensus didn’t allow it to include any such feature. Ethereum Virtual Machine (EVM) brought the ability to execute Turing-complete scripts and helped developers to build and publish decentralized applications. Very quickly, Ethereum established itself as the second-largest cryptocurrency as per market capitalization and it was dubbed as the ‘world computer’ due to its global decentralization and programmability.

Ethereum is a proof-of-work (PoS) blockchain where the miners confirm transactions through an energy-intensive computational process. Although Ethereum is extremely popular, the scalability of the blockchain is an issue. This is the reason Ethereum 2.0 has been planned as a major upgrade to the network. Ethereum 2.0 implementsproof-of-stake (PoS) consensus mechanism and moves away from its current proof-of-work (PoS) architecture. This is the most significant change of Ethereum as the crypto-economic incentive structure for validating the blockchain is getting changed. PoS is a more energy-efficient method to secure the network. Ethereum 2.0 is supposed to solve the scalability issue of the base layer and increase the throughput of the network through sharding. Migrating an entire blockchain is really an uphill task and the developers faced numerous issues. Finally, the first stage of Ethereum 2.0 (Beacon Chain) went live on December 1, 2020, at 12 pm UTC. The launch can be called the opening act or ‘phase 0’ of Ethereum’s consensus mechanism transition. Vitalik has predicted that after the complete roll-out of Ethereum 2.0, the network would be regarded as the most secure and one of the fastest blockchains. At present, 32 Ether is needed to be staked to run a node to strengthen the blockchain’s security. It is important to note that Ethereum 2.0 deposit contract is one way i.e., Ether is not extractable from the contract now. Many staking pools and exchanges are allowing the users to stake any amount of Ether for convenience.

ETH Spot Trading on Bityard

Bityard, with Muay Thai superstar Buakaw Banchamek as the brand ambassador, is a leading cryptocurrency exchange. They are providing service to customers from more than 150 countries currently. Bityards offers both spot and contracts trading options and they have licenses certified by different regulatory entities like ACRA of Singapore, MSB of the United States, MTR of Estonia, and AUSTRAC of Australia. OTC deposit of fiat money is available for some supported countries. USDT is the base currency on Bityard. You can buy ETH through spot trading of Bityard. The trading chart displays the historical price movement. Buying ETH is only one click away through the placing of limit or market order. Spot trading fee is 0.05% and it is much lower than the industry average of 0.075 -0.1%.

ETH spot trading window on Bityard

ETH Contract Trading on Bityard

If you are a pro trader and want to try contract trading of ETH, Bityard is your easy destination. Contract trading is a good way to multiply profits by taking leverages. The minimum capital requirement is 5 USDT only on Bityard and you can go as high as 20,000 USDT. The trading fee is only 0.05%. You can take 5X-100X leverage when you open a position. If you want to play safe, take less leverage. Many contract trading exchanges add spread to the prices of long and short. Bityard never adds spread to extract profit from their customers. Bityard contracts are not perpetual contracts but if you set up ‘overnight’, you can hold it for a long term unless it hits SL/TP ratio and if you have enough balance in your account. If you want to make a profit on ETH trading in both the bull and bear market, try Bityard ETH contract trading. If you are too cautious with your investment, you can do trading with demo money on Bityard and hone your skills.

ETH contract trading window on Bityard

Copy Trading on Bityard

Bityard has launched a copy trading system also. Here you can find highly professional traders and you can copy their strategies. Bityard gives you various details about the impaneled traders for hassle-free selection. Once you do copy trading, there is no need to manually open and close the positions. Everything happens automatically but be sure that you selected the right trader for copying trade.

Snaps from copy trading


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