ETH is the cryptocurrency of the Ethereum Blockchain, which is a decentralized and globally distributed software platform built on blockchain technology. Ethereum is a programmable, secure, scalable, and decentralized crypto technology, it is sometimes called the cryptocurrency of web3.
Ethereum’s primary innovation is the ability to create and execute smart contracts. These contracts enable automated and trustless agreements, underpinning various blockchain technologies, including:
- Non-Fungible Tokens (NFTs): Ethereum is a major platform for NFTs, which are unique digital assets representing ownership of digital or physical items, art, collectibles, and more.
- Decentralized Finance (DeFi): Ethereum hosts a significant portion of the DeFi ecosystem, offering decentralized lending, borrowing, trading, and yield farming services.
- Web3 Games: Ethereum supports blockchain-based games and virtual worlds where in-game assets are owned by players as NFTs.
Before we bore you with all the technicalities of Ethereum, let us quickly look at the best platform to sell your ETH for naira and cedis.
Platforms To Trade ETH In Nigeria and Ghana
- Dart Africa – The Best platform to use in Ghana and Nigeria
- Remitano – P2P trading platform
- Bitmama
- Paxful
- Binance
- Coinbase
What Makes Dart Africa The Best Choice
Dart Africa is a leading local cryptocurrency exchange platform that offers a range of benefits to its users:
1. Competitive Trade Rates: Dart Africa provides some of the highest trade rates available in the market, ensuring that you get the best value when selling your Ethereum and other cryptocurrencies tradeable on the platform.
2. Automated Payment System: The platform features an automated payment system that guarantees swift payment processing, allowing you to receive your funds in the shortest possible time.
3. Round-the-clock Customer Support: Dart Africa offers 24/7 customer support to address any inquiries or issues you may have regarding the platform, ensuring that you have assistance when needed.
4. Exchange Rate Calculator: To calculate the amount of Naira and cedis you will receive for your Ethereum, you can use the Dart Africa exchange rate calculator, providing transparency in your transactions.
5. Fast and Reliable Transactions: Transactions on Dart Africa are processed within minutes. Once you send your Ethereum to the provided address on their website, the corresponding value is swiftly credited to your account upon confirmation of the ETH transaction.
6. User-Friendly Website: Dart Africa’s website boasts a well-designed interface that incorporates the best User Interface and User Experience practices. This ensures a pleasant trading experience for both novice and experienced cryptocurrency traders.
7. Registration Process: To sell your cryptocurrencies on the platform, you have to sign up with the appropriate credentials.
Dart Africa is committed to delivering a fast, reliable, and user-friendly cryptocurrency exchange experience, making it an attractive choice for individuals looking to sell their Ethereum and other types of cryptocurrencies.
Follow these easy steps to sell your ETH on Dart Africa;
- Create an account
- Set up your PIN
- Navigate to the Sell Coin Section
- Enter Crypto Details and you will get the Naira and Cedis values.
- Send the ETH to the provided wallet. Make sure you choose the right network when you send the coin.
- Once you transfer the coin, the agreed amount will be transferred to your account.
Crypto Insight: Difference Between Ethereum And Bitcoin
There are several ways to differentiate Ethereum from Bitcoin, we will be looking at 3, purpose, Supply Cap and Blockchain technology.
Purpose and Functionality:
- Bitcoin: Bitcoin was created majorly as an alternative to traditional currencies. Its primary use case is as a store of value and a medium of exchange.
- Ethereum: Ethereum, on the other hand, was designed as a platform for building decentralized applications (DApps) using smart contracts. While it has its own cryptocurrency (Ether or ETH), its primary purpose is to enable the development of a wide range of blockchain-based applications.
Supply Cap:
- Bitcoin: Bitcoin has a fixed supply cap of 21 million coins. This scarcity is often cited as a factor contributing to its store of value.
- Ethereum: Ethereum does not have a fixed supply cap. The supply of Ether (ETH) is determined by network consensus and can change over time.
Blockchain Technology:
- Bitcoin: Bitcoin’s blockchain is designed primarily for processing transactions and maintaining a ledger of Bitcoin ownership.
- Ethereum: Ethereum’s blockchain is more versatile and supports the execution of code through smart contracts. It is a programmable blockchain that can handle a wide range of decentralized applications (DApps).
