Multiple factors have shaped the crypto industry into what it is today, and the market performance of Ethereum is one of them. With different ventures such as ETH Classic, the network has helped the industry in numerous ways.
ETH Classic is a decentralized, open-source blockchain-based distributed crypto using the power of smart contracts. The crypto came into existence after a security breach in 2016 to improve the network’s performance and security. It resulted in the blockchain’s split into ETH Classic, the immutable chain, and Ethereum, the hard fork under Vitalik Buterin.
The crypto is operated by multiple miners, steering its technical roadmap. ETH Classic constantly refuses to fork and accept changes from developers ever since its introduction.
Options to Invest in Ethereum Classic
To invest in ETH Classic, traders need to sort the options and assess the Ethereum Classic price forecast. Users can choose between a crypto exchange and a broker to invest in.
Cryptocurrency Exchange
Finding a crypto exchange that supports ETH Classic is easy. However, investors cannot directly buy Ethereum Classic with fiat currencies in most cases. Users can instead deposit the funds and buy other cryptos to be traded with ETH Classic.
To do that, you must:
- Create a trading account with an exchange supporting ETH Classic.
- Deposit money with any crypto.
- Exchange the crypto for ETH Classic.
- Pay minor commission around 0.1%-0.6%.
- Withdraw the crypto in your wallet.
Given the approach’s difficulty and inconvenience, the latter option appears more desirable.
Find a Reliable ETH Classic Broker
Finding a reliable broker saves funds and time, resulting in an increased profit on the trade. A licensed broker will facilitate the transaction via debit cards as well. Users might need to pay a small transaction fee depending on the broker. Plus, your payment currency decides the transaction expenses as well.
What to See in Investing Platforms
To initiate an ideal ETH Classic trade, investors must check the ETC prediction and find the best platform. How can it be done? By assessing the given factors:
Reputation and Licensing
To find the best ETH Classic trading platform, users need to ensure the platform is well-reputed and possesses the required licensing. Generally, a competent platform will fall under regulatory authorities, such as FINRA, CySEC, ASIC, or FCA. If it does, users can rest assured that the platform will adhere to every guideline. Choosing an unreliable source is an invitation to future troubles.
Commission Charged to Buy ETH Classic
Every platform charges a minor transaction fee or commissions to allow investing in Ethereum Classic. Since the charges vary according to your stakes, traders need to find a platform with minimal fees.
Minimum Purchase and Payment Options
Brokers may ask traders to deposit a minimum amount before trading the crypto. The amount tends to be higher for debit cards than for wire transfers. However, the latter usually consumes seven days to facilitate the transaction too.
Considering this, the ideal payment option appears to be e-wallets or credit/debit cards. That is why users need to find a platform with multiple payment alternatives.
Storage and Withdrawing
Normally, investors need to store their crypto in personal wallets, increasing the risk of security breaches. However, several brokers facilitate wallet functionality, allowing users to keep the crypto secured. Finding such brokers or exchanges might be difficult, but traders should prefer them over traditional platforms.
Ethereum Classic Price Forecast
Ethereum Classic is currently valued at 118.44 dollars in the market with a market cap of 24.69B dollars. The currency’s current growth rate suggests a surge with time.
Although the crypto faced a downward spiral, it quickly surged in market value, and as per the Ethereum Classic price forecast, the trend will continue. The currency is expected to range around 500 dollars by the end of 2021. In 2025, ETH Classic might cross the 2000 dollar mark.
Scope in Growth of ETC Price
Cryptonewsz’s experts believe that the Ethereum Classic price forecast points towards gradual growth. The crypto can survive the market as it can be stored and exchanged for other cryptos, maintaining its value. However, there is also a minority that deems crypto utterly worthless in the coming two years. Given the current price surge of Ethereum Classic, the crypto does not appear to be struggling at all.
Summary
Ethereum Classic is one of the most popular cryptocurrencies in 2021. The crypto is present on every major exchange platform, and its price forecast shows growth tendencies. As the world is leaning towards complete digitization, the role of Ethereum Classic will grow, too, resulting in its price increasing severalfold.
