If you are new to the crypto space and have only heard about Ethereum recently, then you must be wondering what it is and why you should know more about it.

Ethereum is a digital currency that anyone can purchase or trade on cryptocurrency exchanges. Global users can purchase or trade Ethereum on ByBit or Binance. Users in the USA can directly purchase Ethereum by signing up on MEXC.

BitFlex is another popular crypto exchange but it stands out from the rest as it allows users sign-up and trade crypto without the need of a KYC.

In simple terms, Ethereum is an open-sourced digital currency that operates on a blockchain of its own (similar to Bitcoin). The blockchain is known as the Ethereum blockchain, and its native token is also referred to as Ethereum or Ether. The Ethereum blockchain is a much faster, more efficient, and more advanced form of blockchain, and unlike the Bitcoin blockchain, it has multiple real-life applications.

It was founded by a Russian Canadian programmer Vitalik Buterin, who first proposed the idea of an open-sourced digital currency in 2013 with the aim to create decentralized applications. The project was launched in July 2015 and went live with an initial supply of 72 million coins.

Blockchain technology aims to eliminate third parties from transactions and give full control to the users. Ethereum takes this idea to another level with its smart contracts. It allows users to build decentralized apps (dapps), which eliminates any possibility of third-party involvement, downtime, or censorship. It not only makes the transaction faster but also more secure.