3 Things to Know Before Buying Ethereum

With a market cap exceeding $560 billion, Ethereum is the second-largest cryptocurrency. Here are three facts that investors should know before getting involved.

History: Ethereum dates back to 2013 when programmer Vitalik Buterin wrote about the idea in a white paper that was later brought to life through crowdfunding.

Usage: Thanks to its smart contract functionality, many companies use Ethereum. Some examples of companies include Amazon (Nasdaq: AMZN), ING (NYSE: ING), and Ubisoft (OTCMKTS: UBSFY).

Supply: While there is no supply cap on Ethereum, the supply of this cryptocurrency is shrinking. This is because of the London upgrade in August 2021, which resulted in the burning of coins.

Final Thoughts: Ethereum is one of the hottest cryptos today, thanks in part to its recent price increase.

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