📚 How to Crypto Investor | Ethereum
So, we recently posted the introductory course of Crypto Investor, and now you know how to get your first bank with WL and create your first wallet. But Whitelists is only the start for bankless newbies. True crypto investors need to know much more than just fill the form.
Soon we will explore new ways to increase the deposit and generate revenue from your tokens. Still, to not repeat the basic terms, again and again in the future guides we first need to know more about the blockchains. And to start, try to explore the (oledst) Ethereum network.
What is Ethereum
Ethereum is one of the first cryptocurrencies on the market and the first blockchain network where users could not just transfer funds but create and deplyment smart contracts.
A smart contract is a consistency of programmable actions performed in the blockchain on the "if-then" principle. A set of such actions is a dApp basis. Most of dApp, including P2E, metaverses, and DeFi protocols work in the Ethereum network☝
DeFi-protocols - it's your main toolkit to earn in crypto, even if all you do is just sell lucky tokens from Airdrops and WL. That means you must know:
Main Ethereum wallets
Metamask - read more about it in our basic Investor Guide.
Myetherwallet - is a quality alternative to Metamask.
Trust Wallet - also decentralized, with a useful application.
The Ethereum network token has the ERC-20 (fungible) and ERC-721 (NFT)standards. So if you see ERC standards you need an Ethereum-compatibility wallet to store that tokens.
Most userful Ethereum DEXs
Uniswap - is one of the most popular DEXs in the Ethereum network.
SushiSwap - a rival of Uniswap. There are much more tokens, so you can try swapping your low-liquid shitcoins.
1inch - in addition to swap also offers staking, wallet, and other DeFi-tips.
If you use DEXs to exchange a token for another standard, like a USDT ERC-20 for USDT BEP-20 (in the Binance blockchain), need to ming that usually, conversion is only available between Ethereum and EVM (Ethereum virtual machine)-compatible networks. Not all networks are EVM-friendly.
Famous NFT-marketplaces
OpenSea - the largest NFT market for Ethereum (actually, its multichain).
SuperRare - is one of the first marketplaces for the NFT trade.
Origin - is a less-known site, but you newer now when you need it.
Not enough? Check the Infographic with the most popular Ethereum protocols and platforms:
Here are a few more useful links:
If Ethereum is so wide and useful, why there are other blockchains?
Firstly - to realize their creator's vision of an "ideal blockchain", and secondly - for fundraising.
But in general, the main weakness of Ethereum - is low bandwidth. It's a cause of high fees and long transactions processing. So smart-contract dploying and interactions often too expensive both for users and developers.
Most alternative blockchains are designed to solve these problems and give more opportunities for dApp creators. The lowest fees and useful smart-contract language - the more developers and users start to use network.
We will talk about other popular networks in the following parts of the guide, so do not think that only Ethereum drives cryptomarket.