Thu, Sep 10, 2020 9:46 AM

What Is Ethereum Classic And How To Buy It

CJ Mining Ethereum classic

Originated from the Ethereum contentious hard fork in 2016, Ethereum Classic has become a strong cryptocurrency. In this article, we will tell you everything you need to know about it.

What is Ethereum Classic?

Ethereum Classic (ETC) represents itself as an open-source smart contract platform based on blockchain for running decentralized applications. Ethereum Classic is the original chain of the Ethereum technology stack launched in 2015. It is an adaptable and flexible blockchain platform developed to build and use applications that run on blockchain technology.

The network includes a blockchain ledger, native cryptocurrency (ETC), and a robust ecosystem of on-chain apps and services. People can fund the project development using any currency and following a transparent and decentralized crowdfunding protocol.

How the Ethereum Classic platform works

Here are the key principles of the ETC community:

  • The platform can be used by anyone for different purposes such as building applications, holding crowd sales, creating autonomous organizations, etc.
  • Code is the law, all transactions are final and irreversible.
  • Forks are only permitted to update the technology on which Ethereum Classic operates.

How and where to buy Ethereum Classic cryptocurrency – ETC 

Ethereum Classic exchange is carried out by some of the largest cryptocurrency exchange platforms, such as:

  • Coinbase Pro;
  • Bitfinex;
  • Binance;
  • OKex;
  • CoinEx.

The full list of platforms is presented on the official website of Ethereum Classic. 

On 10 Sept 2020, 1 ETC can be exchanged for $5,09.

The first step to buy Ethereum Classic is to get your own Ethereum Classic wallet, for instance, ClassicEtherWallet, MyEtherWallet, or Emerald-Wallet. Then, you should locate your ETC address and choose an ETC exchange. Finally, you can buy and withdraw your ETC following the instructions on the website of the chosen exchange.