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ETH/AUD - Ethereum Australian Dollar

Kraken
Currency in
AUD
4,400.55
+165.75(+3.91%)
Real-time Data
Day's Range
4,335.214,414.59
52 wk Range
2,950.006,177.39
Bid/Ask
4,404.02 / 4,413.01
Vol (24H)
30.63B
Market Cap
351.02B
Day's Range
4,335.21-4,414.59
52 wk Range
2,950-6,177.39
Max Supply
-
Circulating Supply
ETH120.42M
Rank
2
Technical
Strong Sell
Sell
Neutral
Buy
Strong Buy
Strong Sell
Daily
Weekly
Monthly
More
Type:Currency
Group:Minor
Second:Australian Dollar
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FAQ

What Is Ethereum?

Ethereum is a digital crypto currency proposed by Vitalik Buterin in 2013 as a more flexible blockchain platform that could support decentralised applications (dApps) and smart contracts. After a successful crowdfunding campaign in 2014, Ethereum’s development began, and its main net officially launched on July 30, 2015. Since then, Ethereum has grown into one of the largest and most influential blockchain platforms, driving innovations like decentralised finance (DeFi) and non-fungible tokens (NFTs).

Ethereum is more versatile than Bitcoin, as it is designed to support not only digital currency but also complex programmable agreements. These smart contracts automatically execute when predefined conditions are met, eliminating the need for intermediaries.

What Is Ether?

Ether (ETH) is the native cryptocurrency (sometimes also called 'the value token') of the Ethereum network. Unlike Bitcoin, which is primarily a digital currency, Ether is designed to fuel operations on the Ethereum blockchain. It is used to pay for transaction fees and computational services on the network. Developers also use Ether to create and run applications without relying on centralised authorities.

Ether is the second-largest cryptocurrency by market capitalisation (after Bitcoin) and plays a key role in decentralised finance (DeFi) and the broader blockchain ecosystem.

What Is the Difference Between Ethereum and Bitcoin?

The main difference between Ethereum and Bitcoin lies in their purpose and functionality.

Bitcoin, created in 2009, is primarily a digital currency designed for peer-to-peer transactions and as a store of value. Its focus is on being a decentralised, secure form of money with a limited supply (21 million coins) and Bitcoin halving.

Ethereum, launched in 2015, is a more versatile platform that supports smart contracts and decentralised applications (dApps). While it has its own cryptocurrency, Ether (ETH), Ethereum’s primary goal is to enable programmable blockchain transactions. Bitcoin is mainly about transferring value, while Ethereum offers a platform for complex applications beyond simple payments.

Ethereum also uses a different consensus mechanism. Initially, both Bitcoin and Ethereum used Proof of Work (PoW), but Ethereum has since transitioned to Proof of Stake (PoS) with Ethereum 2.0, making it more energy-efficient than Bitcoin’s PoW.

What Is a Smart Contract?

A smart contract is a self-executing contract with the terms of the agreement directly written into code. It automatically enforces and executes the agreed-upon actions when predefined conditions are met, without the need for intermediaries like lawyers or banks. Smart contracts run on blockchain networks, making them secure, transparent, and immutable—once deployed, they cannot be altered without consensus.

These contracts are widely used in decentralised finance (DeFi), gaming, supply chain management, and other blockchain applications to automate processes like payments, legal agreements, or data exchanges. Ethereum is the most well-known platform for smart contracts, but other blockchains like Solana and Polkadot also support them.

What Is Blockchain?

Blockchain is a decentralised digital ledger that records transactions across a network of computers. Each transaction is grouped into a "block" and linked to the previous one, forming a chain. This technology is secure, transparent, and immutable, meaning data cannot be changed without network consensus.

What Is an Ethereum Wallet?

An Ethereum wallet is a digital tool that allows users to store, send, and receive Ether (ETH) and other Ethereum-based tokens. It also enables interaction with decentralised applications (dApps) and smart contracts on the Ethereum network. Wallets can be software-based, like MetaMask, or hardware-based, like Ledger, for enhanced security.

How Can I Buy Ethereum?

The most common way to buy Ethereum is through cryptocurrency exchanges such as GDAX, Poloniex or Bitfinex, or directly from other people via marketplaces and auction sites. Purchases can be made in a variety of ways, ranging from hard cash to credit and debit cards to wire transfers, or even using other cryptocurrencies. After purchasing, you can store your ETH on the exchange or transfer it to a secure wallet.

How to Choose an Ethereum Exchange?

When choosing an Ethereum exchange, prioritise security by selecting platforms with strong features like two-factor authentication and cold storage. Consider transaction fees, deposit, and withdrawal costs, as they can vary across exchanges. Well-established exchanges like Coinbase and Binance are often reliable due to their solid reputations and user-friendly interfaces, especially for beginners.

Additionally, check that the exchange supports your preferred payment methods, such as bank transfers or debit/credit cards. Finally, ensure the platform complies with local regulations and requires proper identity verification for added safety. At the end of the day, there is no right or wrong exchange with which to start trading, but doing your homework first is highly encouraged.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
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