3 Beginner Questions about Ethereum

[El_Mero_Mero]

My post was gonna be buried in the main thread, so I decided to make a new thread:

A couple of quick Ethereum questions

Disclaimer: (I've never purchased any sort of cryptocurrency before and I'm not too knowledgable about any of this):

1.) When I first read about cryptocurrency years ago, most people advised me to not buy it on RobinHood, but to instead buy it with Binance, or something similar. Are most people in this thread using Binance, BlockFi, CoinBase, RobinHood, or something else? Where are y'all buying your Ethereum at? Do you (personally) buy Bitcoin and Ethereum on the same platform?

2.) Even though I don't intend to purchase Ehthereum on RobinHood, I check the price there sometimes. There are 2 listings. ETH (Ethereum) is currently at $2,419 and ETC (Ethereum Classic) is currently at $21.52. Obviously, I know that the ETH ticker is the one that everyone is interested in, but what is the other one? Like, what even is ETC (Ethereum Classic)?

3.) I know that Ethereum 2.0 is supposed to come out this year. When it does, will it be under a new ticker symbol, or will it just be lumped in with ETH? Whether it's under a new ticker symbol or not, will it's debut cause the value of ETH to drop (I mean, reduce in price more than a standard everyday drop would cause it to reduce in price.)?

 

[River_trey]

I responded in the crypto thread:

1.) I use coinbase and voyager to buy eth and btc. I would avoid robinhood based off what other people in here have said about it. You always want to have control of your crypto especially if you end up learning more about DEX you will need to use your eth to purchase other coins that may not be available on a major exchange.

2.) Eth went through an upgrade to the network and some people chose to stay on the old network. If you want to know in detail how it went down this article explains it What is Ethereum Classic? Ethereum vs Ethereum Classic

3.) Someone can correct me but I believe they will be lumped together this time. 2.0 is big because eth really needs to fix its network congestion and fees, if it does that nothing is really stopping it at that point. However is the 2.0 doesnt work out as people planned then that can really open the door for Cardano (ADA) depending on how much you believe in that. But most likely eth will get it figured out and remain the top smart contract platform.

 

[El_Mero_Mero]

I responded in the crypto thread:

1.) I use coinbase and voyager to buy eth and btc. I would avoid robinhood based off what other people in here have said about it. You always want to have control of your crypto especially if you end up learning more about DEX you will need to use your eth to purchase other coins that may not be available on a major exchange.

2.) Eth went through an upgrade to the network and some people chose to stay on the old network. If you want to know in detail how it went down this article explains it What is Ethereum Classic? Ethereum vs Ethereum Classic

3.) Someone can correct me but I believe they will be lumped together this time. 2.0 is big because eth really needs to fix its network congestion and fees, if it does that nothing is really stopping it at that point. However is the 2.0 doesnt work out as people planned then that can really open the door for Cardano (ADA) depending on how much you believe in that. But most likely eth will get it figured out and remain the top smart contract platform.

Thanks. I appreciate your replies and will check out the info. that you linked.

 

[Pete Wrigley]

Question, so say I bought this or Bitcoin....now what?

I know I can buy more and hold but how is it flipped to make a profit?

I see crypto as a future way of making a transaction so I'm confused as to how you profit off of it.

 

[River_trey]

Question, so say I bought this or Bitcoin....now what?

I know I can buy more and hold but how is it flipped to make a profit?

I see crypto as a future way of making a transaction so I'm confused as to how you profit off of it.

Look at it more as a long term investment against inflation.