The new BTC Markets app is here! Buy, sell & trade crypto on the go

The team at BTC Markets have been working hard to provide our customers with a mobile app to trade and manage their crypto portfolio on the go. We’re excited to announce that it’s finally here!

We wanted to ensure that when we released this, it echoed the speed and reliability of our desktop platform that is core to our exchange and that you as our customers rely on.

With the new BTC Markets mobile app, you’ll be able to trade crypto anytime, anywhere!

The BTC Markets app has a range of features, including:

Deposit AUD to your account instantly via Osko or through BPAY, or you can deposit crypto from external wallets to start trading cryptocurrency.

You can buy and sell cryptocurrency quickly and easily with our Simple Buy/Sell feature, or place more sophisticated orders with our Advanced settings, including:

Limit: Place a buy or sell order at a specific price.

Market: Buy or sell at the best available price.

Stop Limit: Place a buy or sell limit order once a specific price is met.

Keep track of cryptocurrency prices and market movements easily on the BTC Markets app and personalise which tokens you want to watch with our Watch list feature.

View your portfolio’s holdings, values, total equity, trade history, and buy/sell order status all in one easy view.

Enjoy easy and secure ongoing access to your account using PIN, or your device's inbuilt biometric security.

With BTC Markets, your account security is our top priority. The app has the same industry-recognised, best security standards that we implement on our web app, including SSO login with two-factor authentication (2FA), personal data encryption, internal control limits, and off-site cold wallet storage.

Two-factor authentication and rate limits

Building an app is a journey, and a continuous one at that. This means that although this is our first official release of the app, it doesn’t mean our work ends here. Your feedback is crucial and will influence the future direction of the apps design and functionality, while helping improve your experience and the experience of many others.

Please leave feedback via the "provide feedback" button on the accounts screen about what features you'd like to see, or report any issues you encounter.

Introducing: The BTC Markets Mobile App

Ethereum

Decentralised transactions are one of the many benefits of cryptocurrency. Users can make secure, reliable transactions from user-friendly crypto wallets. The result is a payment system that is revolutionising the payment landscape.

But what about Ethereum? What are the unique crypto advantages of Ethereum? Why is this cryptocurrency network so well suited to 

Ethereum operates a decentralised network and is immune from any external or third-party control. This means there is no maintenance downtime, no risk of interference, and no danger of fraud. All of these things are a few of reasons why so many use 

Constant development of the Ethereum blockchain

One of the cons of Ethereum is that transactions are not immediate. However, neither is Solana, 

, or other cryptocurrencies. When developing new currencies, the time taken to settle a transaction is one of the most important factors. Currently, Ethereum is able to handle double the number of transitions than its market-leading rival, Bitcoin.

Ethereum is moving to a proof of stake consensus mechanism that will allow it to process a higher number of transactions faster per second and significantly reduce carbon emissions caused by miners validating the network under its current proof of work framework. Through the continued innovation and development of the Ethereum blockchain, Eth has become the second biggest cryptocurrency by market cap.

 is a little different to competing networks such as 

. It is based on a smart contract system that can support a wide range of different transactions and decentralised applications. This means Ethereum can be used to pay for a wide range of different assets via the blockchain — rather than simply being limited to Ether-for-Dollar trades.

This leads to significant Ethereum potential, which opens doors for a growing number of transactions in the future. Users can harness smart contracts to complete transactions for everything from NFTs to real estate property over the blockchain, making Ethereum a far more interesting proposition than Bitcoin.

 features include a smart contracts system that developers can harness as they create their own inter-connected networks and platforms. This means the potential of Ethereum is only going to increase in the future.

This is great news for investors looking for key Ethereum advantages as they make payments. With more integrations and support for a diverse range of different coins and value sources, Ethereum represents an exciting environment for payments.

Remaining aware of the pros and cons of Ethereum

While there are many benefits of Ethereum as a payment and transaction platform, users still need to be aware that there are pros and cons. Ethereum is already widely used for transactions across the world, but this does not mean the network does not have its own negative aspects. Take a look at some of the points you need to remain aware of.

Ethereum transactions are not instantaneous

Ethereum still uses a proof of work consensus mechanism to validate transactions. During periods of high demand, this period can be as long as a few hours or even a few days. The transaction network is still reliable but cannot provide the instant transactions that bank customers are accustomed to.


This proof of work model may be replaced in the future by 

 operations. This will make transactions far faster, improving the experience for all users. It will also make the network more sustainable, reducing the amount of energy required to mine transactions.

You will need to pay to make transactions on the Ethereum network. To process a transaction, you are required to pay a ‘gas fee’ that is used to reward miners for validating transactions and supporting the Ethereum blockchain.


Unlike Bitcoin, where a small percentage of the transaction value is used to provide the reward, Ethereum requires a fixed fee for transactions. As a result, users who want to pay with Ethereum will need to anticipate the cost of gas fees in their transaction.

The price of Ethereum is volatile, just like the prices of all cryptocurrencies. Whether you are working with Bitcoin, 

 or XRP, there is the potential for the crypto value to fluctuate quickly, and this can be problematic.

 you use to complete your transaction could change quickly. In other words, it's possible that a $100 value of Ether could be worth substantially more or less than it was a day or month prior.

Invest in Ethereum and make payments using BTC Markets

, you can buy and sell crypto on the open market. You can use your own crypto wallet to make payments and transactions via the platform and harness the power of Ether as a genuine alternative currency. Get started today, and set up your 

 via our intuitively designed website. To learn more about how BTC Markets works, reach out to our team directly.

Grow your understanding of Ethereum and Ether transactions by browsing some of the most 

How many transactions are processed on the Ethereum network each day?

Ethereum continues to grow rapidly as a payment platform, handling as many as 1.1 million transactions per day in July of 2021. This is an interesting development for Ethereum, as this figure is actually far in excess of the daily transactions handled by the platform's major rival, Bitcoin. Transactions on the Bitcoin network reached only 250,000 for the same month.

While Bitcoin is still far more valuable than Ether crypto tokens, evidence suggests that users prefer Ethereum for making transactions. This brings Ethereum closer to the intended objective of the cryptocurrency project from its beginning — to become a viable alternative form of currency that can support transactions.

[Reference: https://www.statista.com/statistics/730838/number-of-daily-cryptocurrency-transactions-by-type/]

Where can I view my Ethereum transactions?

You can view your transactions in your crypto wallet. 

 provides wallet storage features, where you can store your Ether tokens and other forms of cryptocurrency in a safe and secure environment. You can also use this feature to make transactions across the Ethereum network and manage your recently processed transactions.

Our wallet is designed to be easy and intuitive to use. You will be able to open and view a list of your Ethereum transactions, keeping track of incomings and outgoings across the network.

You can track the Ethereum transactions you have made in your crypto wallet provided by BTC Markets. As mentioned above, you can use your wallet to find a list of transactions you have already made, helping you to keep track of your activity and your balance in Ether or in any other form of crypto held in the multi-coin wallet.

You cannot track Ethereum transactions that have not been finalised, however. As the Ethereum network relies upon a proof of work model to write transactions into the blockchain, there is a latency period while transactions are being processed. The procedure is completely decentralised, and there is no risk of tampering or third-party interference — a key advantage of the blockchain and an important cryptocurrency benefit. Once the transaction has been completed, confirmed and written into the blockchain, you will be able to see this in your crypto wallet.

Many users across the world are already working with Ethereum to make transactions. In fact, far more people utilise Ethereum to send and receive funds than other high-profile cryptocurrencies, such as Bitcoin. This provides peace of mind to anyone who is considering whether to use Ethereum as a payment network.

Further peace of mind can be drawn from the fact that many banks and financial institutions have also put their faith in Ethereum. Institutions such as J.P. Morgan are already using a form of Ethereum to operate a payment network based on the crypto's smart contracts. This is an example of how Ethereum transactions are rapidly becoming part of the mainstream payment landscape.

Advantages Of Paying With Ethereum

While the origin story of Bitcoin is a little difficult to confirm, 

 is more straightforward. The revolutionary network was created by a young man from Russia with an aptitude for economics and cryptography. But who is this young man exactly? Read on to learn more about a remarkable human being and a remarkable story.

Who is Vitalik Buterin? While you may already be vaguely aware of the Vitalik Buterin Ethereum connection, you may not know too much about the young man who started it all.

Buterin's story begins back in January 1994, when he was born to Dmitry Buterin and Natalia Chistyakova in the city of Kolomna, Russia. Dmitry was a computer scientist and provided the young Vitalik with much of his early education into the worlds of computer networking and decentralisation.

The young Vitalik showed his academic prowess at an early age and quickly rose to the top of his class. Vitalik Buterin was aged only six when his parents relocated from Russia to Canada, and it was here that Vitalik found himself in a class for gifted children. With a keen understanding across most of his academic subjects, Vitalik was particularly suited to several key fields — mathematics, computer programming, and economics. It was these three disciplines that would form the basis for the development of Ethereum many years later.

The young man's education quickly gathered pace, and Buterin earned a place at the private Abelard School — a renowned high school in Toronto. It was while studying at Abelard that Vitalik would talk to his father about a new phenomenon emerging in the world of digital sciences — Bitcoin. Vitalik was still only 17 years old at this point, and he did not know that, in only two years, this concept would change his life forever.

Following high school, Vitalik attended the University of Waterloo. Again Buterin proved to be a gifted student, winning numerous awards at university and taking advanced modules. He also became a research assistant for the eminent cryptographer Ian Goldberg. Viltalik Buterin would not complete his university education and eventually leave Waterloo before graduation. There was a good reason for this, of course — things were changing for Vitalik, and changing fast.

As early as 2011, Vitalik Buterin was showing that he was not simply interested in 

 and cryptocurrency, but he was something of an expert in the field. He began earning Bitcoin as a journalist, writing for the Bitcoin Weekly magazine in exchange for small amounts of the fledgling currency — amounts that would be worth tens of thousands of dollars today.

After a couple of years working as a cryptocurrency journalist, Buterin began to develop his own ideas as to what a cryptographic network could, and should, achieve for society. These thoughts eventually coalesced into the concept of Ethereum and were outlined in Vitalik Buterin's own Ethereum whitepaper in 2013.

The ideas at the heart of the white paper were relatively simple, but they were instrumental in changing the status quo of crypto. Buterin declared that one of the failings of Bitcoin was its static nature. He argued that the currency and the network needed a scripting language through which new crypto-supported applications could be developed.

Buterin soon realised that adding this capability to Bitcoin was not feasible, and therefore he decided to create his own network. This would eventually become the 

By 2014, the white paper had been distributed throughout the industry and was generating significant interest. Cryptocurrency was still a relatively underground phenomenon back in those days, and it was difficult for Buterin and his new network to gain mainstream acceptance. Despite this, his ideas were certainly turning heads among those in the know, and Ethereum was rapidly becoming the next big thing.

This is particularly remarkable because of Vitalik Buterin's age. Buterin was still only 19 in the first weeks of 2014, and his work experience was largely based around journalism for Bitcoin Weekly and Bitcoin Magazine. With little to no experience in public speaking, Buterin was invited to give a talk at the North American Bitcoin Conference in Miami, where he demonstrated his knowledge, passion and expertise with an excellent speech that outlined the aims of the project.

Fast forward nine years, and Vitalik Buterin's project is very much a leading player and pioneer for 

 in the crypto market. While Bitcoin continues to lead the way in terms of value and mainstream understanding and recognition, Ethereum is not far behind. In fact, Ethereum can be considered superior to Bitcoin in some ways, not least due to the smart contract-based structure that makes the network 

 than its rival. Boasting the second highest market cap among all cryptocurrencies has made Ethereum an attractive crypto to 

 are developing rapidly, Ethereum remains the closest competitor to the elder statesman Bitcoin.

Buterin today — where does Vitalik Buterin live now?

While Vitalik Buterin originally came from Kolomna, a city close to the Russian capital of Moscow, he has lived in a number of other locations across the world. He spent many of his formative years in Canada, and eventually attended the University of Waterloo in Ontario before eventually dropping out.

It is understood he has lived in Europe for a period, including Zug — the capital of the Swiss canton of the same name. He has also lived in Asia, having spent time living in the city-state of Singapore.

Despite the meteoric and ongoing rise of Ethereum, Vitalik Buterin has withdrawn from the spotlight in recent years. Sources close to him say that he is uncomfortable with his position as a leader in the field. Instead of being a figurehead, Buterin would prefer to allow the Ethereum community to grow more resilient on its own, demonstrating the power and potential of the network.

Vitalik Buterin's Ethereum holdings — how much Ethereum does Vitalik Buterin have?

 about Ethereum and Vitalik Buterin relates to his Ethereum holdings. So, just how much Ether does Vitalik Buterin have?

 wallet in 2018, showing that he had over 355,000 ETH coins. As of January 2022, this would be worth over A$1.5 billion due to 

. Buterin has since transferred much of this digital wealth to other wallets and has donated significant amounts to charitable funds in locations such as India.

[Reference: https://coinformant.com.au/how-much-ether-does-vitalik-have/]

With BTC Markets, you can buy and sell Ethereum, as well as other cryptocurrencies, on the open market. In addition, you can use your own crypto wallet to make payments and transactions via the platform to harness the power of Ether as a genuine alternative currency.

 via our intuitively designed website. To learn more about how BTC Markets works, reach out to our team directly

Who Is Vitalik Buterin?

Cryptocurrencies are sources of fascination and trepidation in almost equal measure. Though some are left concerned by the volatility of these digital currency structures, increasing numbers of people are attracted by the 

. While there are numerous cryptocurrencies out there, two stand head and shoulders above the rest in terms of investment popularity and public profile. These are Bitcoin (BTC) and Ethereum (ETH) — two currencies available on the 

Both the Bitcoin and Ethereum networks are supported by a process known as mining. This mining process harnesses the processing power of the computers owned by network users, recording transactions in the cryptocurrency's blockchain. But how does this crypto mining procedure work in practice, and how is Ethereum mined specifically?

Ethereum first appeared some six years after Bitcoin in July 2015. While Ethereum does use similar blockchain technology to 

, it differs slightly. It uses smart contracts to help developers create applications based on the Ethereum network, effectively pushing the boundaries of what is possible from crypto.

The Ethereum network can be utilised for broader purposes than Bitcoin. Developers can create applications that use the ETH currency (Ether), or create currencies of their own within the Ethereum framework. Despite this, the Ethereum network — like the networks of its competitors such as 

 — is still based upon an underlying blockchain, which means mining still has a role to play.

The Ethereum cryptocurrency mining process explained

What does Ethereum mining mean? Well, Ethereum is not regulated by a central bank or any other authority. Instead, the 

In order to maintain Ethereum’s decentralised nature, blockchain’s technology is used. This means network users are required to "mine" transactions — i.e. to write these transactions into the blockchain. Mining is also how Ether is generated within the network.

 uses a proof of work model to write transactions into the blockchain and assign payments to network nodes. Let's take a look at what this means in detail as we examine how Ethereum mining works.

Proof of work crypto mining works like this:

The transaction is mined by online nodes. These are the user computers that will automatically complete the mining task.

These user computer nodes then solve a complex mathematical puzzle to add the transaction data to the blockchain. The node that completes the puzzle first adds the transaction to the blockchain and is rewarded.

Once the transaction is added to the blockchain, the node keeps a copy of this updated blockchain.

All other nodes on the network receive an updated copy of this blockchain, ensuring a consensus across the board.

The proof that the specific node completed this mining task is stored too, and a portion of the transaction fee is delivered to the node owner's crypto wallet, rewarding them for completing the transaction.

This is the traditional way for crypto networks to mine transactions, and it has been used on the Bitcoin and 

 blockchains since the beginning. However, there are some criticisms of this model.

 and Bitcoin are slow compared to other networks when processing transactions. This may be due to the relative age of the networks, but may also be caused by the difficulties associated with operating proof of work models at scale.

In addition, both networks are criticised due to the carbon footprint of mining transactions. The proof of work model requires huge amounts of energy, and this energy demand is placing strain on power grids around the world. As much of the power we use is non-renewable, this makes it difficult to run crypto networks in a sustainable fashion.

We can expect the proof of work model to change in the future in the face of these challenges. Also, the 

 network may face regulatory changes in the future as financial bodies work to bring cryptocurrency under control, which may also lead to moves away from proof of work.

Ethereum is expected to switch from the proof of work model to a proof of stake model, in which mining priority is given to node owners who hold more of the ETH currency. Let's take a look at how 

A transaction takes place in the same way as with proof of work.

The user computer nodes within the network stake some of their user's ETH currency for a chance to verify — or mine — the transaction.

The node that has staked the most ETH is given the opportunity to mine the transaction.

This user computer node solves the complex mathematical puzzle and adds the transaction data to the blockchain. This action is rewarded.

Once the transaction is added to the blockchain, the node keeps a copy of this updated blockchain like the proof of work model.

As with proof of work, all nodes on the network receive the updated blockchain copy to ensure consensus.

The hope is that proof of stake will answer some of the problems currently plaguing cryptocurrency mining. It is undoubtedly a greener option, as it avoids the problem of having multiple nodes working on the same mathematical puzzle simultaneously. In addition, it may increase the processing speed of the network.

Buying and selling ETH and BTC using Australia's largest cryptocurrency exchange

Now that you know more about the mining process for Ethereum, you can begin to trade crypto in confidence. Here at 

, we help investors do exactly that with Australia's largest crypto exchange.

Get started on your crypto investment journey today. 

 and start trading on the platform, or take a look at some of our 

What does Ethereum mining mean exactly? Mining for Ethereum is the process by which transactions are written into the Ethereum blockchain. The process is carried out automatically by computers owned by the network's users and is completely decentralised.

Currently, the network computers that carry out the mining process work concurrently with other computers on the network to complete the task. These computers — known as nodes — must solve a complex mathematical puzzle. The first node to complete the puzzle is permitted to write the transaction into the blockchain and is rewarded accordingly. This is how mining works on the Ethereum network

Does Ethereum use proof of work or proof of stake mining?

Ethereum uses proof of work mining to write transactions into the blockchain. However, this may change to proof of stake mining in the near future. Proof of stake is considered to be the more ecologically-sustainable option for crypto mining

How much is an Ethereum user rewarded for mining?

Ethereum operates a fixed reward system of three ETH per block mined, sometimes known as Ethereum harvesting. This will not change in the future. Ethereum miners have their income guaranteed for the future, although the 

 is likely to change. This is different to mining rewards on networks such as Bitcoin. From February 2021, Bitcoin users receive 6.25 Bitcoins per mined block in the blockchain, half of the previous value of 12.5 BTC. This reward will be halved again after another 210,000 blocks are mined, reducing the income node owners receive from mining.

How Does Ethereum Mining Work?

Ethereum was one of the first cryptocurrencies to appear, emerging six years after Bitcoin in July 2015. The Ethereum network expands the decentralised blockchain concept from Bitcoin, deploying smart contracts that help achieve Ethereum transaction verification and broaden the scope of the network.

This makes Ethereum different from many of its competitor networks and currencies. The Ethereum network was intended to become a general-purpose blockchain foundation for crypto-enabled app development. The smart contracts built into the Ethereum network allow it to be used for universal trading. These assets are not limited to the ETH token. They can include real estate, stocks and shares, fiat currencies or anything else of value. This is one of the key differences between Ethereum and other cryptocurrencies.

However, Ethereum still supports other forms of digital currency. As a result, it can still be used for speculative investment, storing currency, and, of course, completing digital transactions. So, what is an Ethereum transaction, how do these Ethereum transactions work, and how are they different from crypto transactions on other types of networks?

The Ethereum transaction process explained

How do you do an Ethereum transaction? Of course, you can't start making Ethereum transactions until you have Ethereum to trade or sell. You can

 at any time, usually through crypto exchanges. On a cryptocurrency exchange, you can use your existing fiat currency funds — for example, Australian Dollars — and you can exchange this for an 

equivalent amount of ETH at the current rate

Though there are several options available to you when you choose a cryptocurrency exchange, 

 is one of the market leaders, thanks to a reliable payment system and easy-to-use interface. BTC Markets aims to create a digital platform for all customers to enjoy — including those based in Australia and elsewhere in the world. Many of our competitor exchanges bar customers from some regions and jurisdictions. Where possible, BTC Markets tries to be inclusive.

Making an Ethereum transaction from your wallet

You can send ETH that you own directly from your crypto wallet, just as you would with a standard digital wallet or an online banking platform. To do this, you will generally need the address of the recipient's wallet, as this is where you will be sending the funds.

Within your wallet, you will have an option named “Send Funds” or similar (Different crypto wallets include different transaction tools). Open the sending menu, add the recipient wallet address, and select how much ETH you want to send. This is a one-way transaction, useful if you purchase a product or need to send money to someone for another reason. It is also possible to view your past Ethereum transactions in the wallet.

You can also use the smart contract element of the 

 to conduct a two-way transaction. This smart contract will automatically make and confirm the Ethereum transaction when certain criteria are met, such as when a specified amount of time has elapsed or when funds have been deposited into escrow. Ethereum verification is then achieved, and the transaction is written into the blockchain.

Making an Ethereum transaction with a retail store

Not all retail stores accept cryptocurrency, and an even smaller number accept Ethereum.

However, as the general understanding of cryptocurrency increases, this transaction type is becoming more frequent as Ethereum systems are utilised in more and more retail stores.

To make an Ethereum transaction with a retail store, you'll first need to check that the store can accept Ethereum. If so, you will see a Pay with Ethereum or Pay with Crypto button displayed on their site, or something similar. Select this button and either make the transaction using the Ethereum wallet address or follow the instructions on the retail store's site and complete using your wallet.

Making an Ethereum transaction using a peer-to-peer network

Peer-to-peer (P2P) trading is similar to trading on a standard cryptocurrency exchange. By paying a set fee, you gain the convenience of selling into an active market without needing to seek out a buyer. However, P2P exchanges differ in a fundamental way — rather than conducting an Ethereum transaction with the exchange itself, you are trading ETH with another user.

This means you can set your own price for 

. The platform will use automated tools to find a user who is willing to meet the terms of your transaction.

P2P platforms also offers security when you make trades. Choose a P2P trading platform that uses an escrow system. The platform will hold both the buyer's and the seller's capital, releasing this simultaneously once the conditions of the trade are met. In other words, there is no danger of fraud or other problems with the transaction.

Buy and sell ETH, BTC or other cryptocurrencies on Australia's largest crypto exchange

To start making transactions with Ethereum, you'll first need to buy ETH and build your reserves. There are different ways to achieve this, but cryptocurrency exchanges remain some of the most possible, as they are so convenient and broadly available.

 are proud to be Australia's biggest crypto exchange. You know where to go when you want to grow your holdings in ETH or another form of crypto. Use BTC Markets to make, manage and check BTC transactions, or if you have 

Ethereum is not free, unfortunately. Other networks such as Bitcoin offer free transactions, and BTC holders can trade their assets without paying any extra for the privilege. By paying an additional transaction fee, Bitcoin users can essentially have their trade prioritised, accelerating the pace of the transaction — but this is still a choice for the consumer, and they can opt for a free service if they prefer. Ethereum, on the other hand, does require a small transaction fee of ETH. This is used to support the transaction as it is written into the blockchain.

Unfortunately, Ethereum transactions are not instantaneous. After you have finalised the transaction and sent the funds, there will be a latency period while the transaction is verified on the network. This is due to the decentralised nature of Ethereum — transactions must be confirmed cryptographically in a process known as mining.

The mining process involves complex mathematical equations that must be solved using the computing power of devices connected to the Ethereum system. It takes a huge amount of computing power to complete these tasks, so there will be a delay while the transaction is verified. Your funds are protected throughout this process, and there is no danger of theft or loss.

Ethereum uses its own blockchain for transactions. In this sense, it is essentially the same as Bitcoin, although the two blockchains are independent. However, they differ in the scope of their network capability. Ethereum works with smart contracts that trade a wide range of different assets on the blockchain, while Bitcoin is limited to BTC transactions.

Currently, Ethereum is still using the proof of work model to mine and verify transactions, although this may change to a more efficient, more eco-sustainable 

How Do Ethereum Transactions Work?

 — or any cryptocurrency for that matter — it’s critical to get educated about the best ways to store your investment and its security. Cryptocurrency’s relatively anonymous nature has been something of a double-edged sword. Although it means that transactions and exchanges can occur with privacy, it also means that if you have a cybersecurity incident with your crypto, then you tend to have relatively little recourse. Though exchanges and marketplaces do have their own security measures in place, the onus is still on you as an investor to make your own decisions about the best way to store Ethereum.

Storage for cryptocurrency is referred to as a “wallet”, and there are three main varieties, each with its own distinct pros and cons. We’ve compiled some of the key information you need to know about them. If you’re new to crypto investing and wondering how to store Ethereum, this is an excellent introduction. You’ll discover the advantages of a hot wallet, how to store Ethereum offline and more. But even if you’re an experienced investor, it might be time to reconsider your storage strategy — this guide can help you stay up to date with best practices too.

The three main types of wallets available are hot wallets, cold wallets and paper wallets. Let’s take a closer look at each.

Hot wallets are the most convenient method for day to day Ethereum storage and usage. They’re hosted online and provide you with instant access to your cryptocurrency as long as you’re connected to the internet. This might be in the form of a desktop-based program (also known as a desktop wallet) or an app. They’ll also include an exchange interface so that you can easily buy, swap or trade at the touch of a button. Of the different types of wallets available, they’re the most akin to online banking.

With this said, this convenience comes at the price of security. Because your investments are stored online, they can be vulnerable to hacks — just like any other online service. Accordingly, many people have both a hot and cold wallet. Utilising a combination of both enables you to keep the bulk of your investment safely stored, while also retaining a nominal amount in a hot wallet for day-to-day usage.

A cold wallet allows you to store Ethereum offline, so it’s generally used for longer-term storage. It’s a hardware device that’s usually similar in size and shape to a USB drive — so you can plug it into your computer, transfer your Ethereum onto it and then stash it safely away.

A cold wallet is significantly more secure than a hot wallet. A prospective thief would need to have physical access to the device to even attempt hacking it (which in turn is an extremely difficult task). An offline Ethereum wallet can’t be accessed via the internet, so it’s free from the prying eyes of cybercriminals.

Although the benefits are undeniably obvious, an Ethereum cold wallet isn’t always the best option for every investor. If you’re a regular or aggressive trader, being able to take advantage of pricing fluctuations as and when they occur is likely important to you. Using an offline wallet adds an extra layer of complexity to this process. In this case, you may want to keep a discretionary amount of funds in a hot wallet, so that you have easy access to day-to-day transactions and trading.

Additionally, if you lose the cold wallet, you’ve completely lost access to the funds forever. With this in mind, many investors use an actual safe in order to keep their investments safe.

Arguably the safest way to store Ethereum, a paper wallet is a type of cold wallet. Your Ethereum is stored offline, and your access to the storage device is printed on a piece of paper. This is currently the most difficult type of wallet to access, making it ideal for investors who are looking to keep their Ethereum in cold storage for an extended period.

However, if you lose your access code then you’ll also lose all your cryptocurrency. As you might expect, people who use paper wallets tend to make multiple copies of their code. However, it’s extremely important that you don’t share this information with anyone and keep your codes in secure locations.

Learn how to store your Ethereum and more with BTC Markets

 Ethereum or any other cryptocurrency? Here at 

 to prospective crypto investors. Choose to invest in 

I’ve got my wallet set up — but how do I store my Ethereum even more safely?

Once you’ve chosen your preferred storage method, there are still some other steps you can take to protect your investments. Undertaking a security scan of your computer is crucial in order to spot or deal with any issues such as malware, spyware or other related issues. Changing email and account passwords regularly is also crucial. In fact, you can also check for data breaches to your email via websites such as “Have I Been Pwned”, and make any relevant security updates as necessary.

You should also ensure that you keep track of any software updates for both Windows and Mac to ensure that you are not placing yourself at risk of malware attacks, bugs, or viruses that rely on exploiting older versions of software.

Enabling Two Factor Authentication will also add an additional layer of security when you’re accessing your crypto account. In addition to using your usual password, you can set up a requirement that a second code also needs to be sent to your phone and input in order to provide access. If your phone or computer has biometric authentication set up, this can also be done via fingerprint.

I know where to store Ethereum, but what about my keys?

When you utilise any form of cryptocurrency — Ethereum included — you generate two types of keys, public and private. They’re both complex strings of letters and numbers that are unique to your account. A public key is provided to others so that they can transfer funds to your account, while a private key is used only by you for spending and transferring from your account.

It’s worth backing both types on an external hard drive or USB that only you have access to. This will save you from needing to either memorise your keys, continually write them down or otherwise risk losing them or exposing them to others.

It’s difficult to make blanket statements on which cryptocurrency is more “secure” than another. Factors like the size of a Blockchain attached to a given cryptocurrency can certainly make it more difficult for outsiders to hack or damage on a macro scale. At a micro-scale, though? Exchanges will provide security, but it’s still essential for individuals to ensure that they’re taking the necessary safety precautions — using protective software, regularly running security scans and ensuring information like passwords aren’t being shared. Knowing how to store Ethereum safely yourself is arguably the most important factor in ensuring your investment is protected.

BTC Markets Blog

Introducing: The BTC Markets Mobile App

Advantages Of Paying With Ethereum

Who Is Vitalik Buterin?

How Does Ethereum Mining Work?

How Do Ethereum Transactions Work?

How To Store Your Ethereum