ETH or Ether is the native cryptocurrency of the Ethereum blockchain platform. It is the second-largest cryptocurrency after Bitcoin in terms of market capitalization. At the time of writing this article, the total market cap of Eth is over $441 billion.
As a digital currency, ETH can be used for digital payments globally. However, the actual use of ETH is much beyond digital payments. Thanks to the open-source, decentralized blockchain software of Ethereum, it’s now easier than ever for businesses/developers to build and run their own customized decentralized applications (DApps) and smart contracts on top of Ethereum’s highly secure and middleman-free blockchain platform.
What is ETH price?
ETH price is the current market price of Ether, the native cryptocurrency of the Ethereum network. Since it is an unregulated, independent currency, the price of ETH is not decided by any government or bank or any either centralized entity. Rather, the ETH market price is purely based on its market supply and demand.
As more transactions occur on the Ethereum network, the demand for ETH increases, and so does the coin price.
ETH price changes every second. You’ll even find that the ETH price on one exchange is slightly different from another exchange. Some traders leverage this by purchasing ETH at a lower price from one exchange and then immediately selling it at a slightly higher price on another exchange. This is called ETH arbitrage.
Why should you know about ETH price?
If you are an ETH trader, it’s very crucial to keep yourself updated with the latest ETH price in the market. As a regular trader, you can set targets to buy-sell ETH as and when it hits a certain price. As an arbitrage trader, you can benefit from buying ETH at a low price and selling it at a higher price between exchanges. In any case, knowing the live and up-to-date price of ETH can guarantee you the best profits.
Also, having knowledge of ETH price gives you a good idea of the coin’s status in the crypto market. Many times, the altcoins linked with ETH rise or fall at the same time when the ETH price rises or falls. So, you can predict the next movement of these altcoins based on the ETH price trend.
The price of ETH has increased by almost 135662.54% since its launch, which is an indicator that ETH is a high-potential cryptocurrency that can give significant returns in the future.
How to know the live ETH price in India
There are a number of platforms, websites and exchanges where you can see the live price of ETH at a given time. You can also Google it to see the ETH market price. However, the most reliable platform to check the ETH real-time price is CoinMarketCap, which is one of the biggest crypto listing websites on the internet. You can find here the currency price, market cap and other info about more than 3000 cryptocurrencies.
Besides that, you can check ETH price live on exchanges such as Shiftal, Binance, etc.
ETH price in India today
ETH (Ether) price today (14-May-2021) is $3,854.57 (at the time of writing this). Source: coinmarketcap.com.
Buy ETH at the best price in India
Did you know you can buy ETH at less than the market price? Yes, it’s true. There are some special kind of crypto exchanges called peer-to-peer exchange that allows you to buy ETH directly from other users.
But, how do you get ETH at a lower price?
It’s simple. On the Shiftal exchange, you can see hundreds of offers from users who are looking to sell their Ether. All you have to do is find the right offer that gives you ETH at a lower price than the current ETH market price.
But, why would anyone sell ETH for a lower than market price?
Because they need to sell it quickly and get the money for some emergency. Suppose that there is a user who holds 1 ETH and wants to sell it in exchange for cash or digital money (Paytm, etc.), but it takes time to find an interested user on a regular exchange. And then there is a high commission charged by these platforms. So, this user can list their sell offer on Shiftal and find someone who is interested in buying ETH. They might even sell ETH at a less than market price for quick and easy cash.
To get started, create an account on Shiftal and start exploring offers to buy ETH at the best price today.
Original Source: https://medium.com/