Ethereum Classic – Price, Historical Data & How to Buy

Ethereum Classic
ETC
$ 22.50
0.00037690 BTC
Marketcap
$ 3,332,199,548
Volume (24h)
$ 149,118,909
Circulating Supply
147,908,982 ETC
Total Supply
210,700,000 ETC

What is Ethereum Classic?

Ethereum Classic (ETC)

Ethereum Classic (ETC) is a decentralized cryptocurrency that was created as a result of the Ethereum hard fork in 2016. Ethereum Classic is identical to Ethereum in terms of functionality and can be used for the same purpose. The main difference between Ethereum and Ethereum Classic is that Ethereum Classic has a shorter blockchain history, as it does not include the Ethereum Foundation’s DAO bailout. 

Ethereum Classic is a permissionless, immutable, and resilient blockchain platform that enables smart contracts. Ethereum Classic is powered by the Ethereum Classic token (ETC). The Ethereum Classic token can be used to pay for fees and gas on the Ethereum Classic network. ETC is a deflationary currency, as there are a finite number of Ethereum Classic tokens that will ever be created. Ethereum Classic has a strong community of supporters and developers who are committed to the success of Ethereum Classic. It is a viable alternative to Ethereum and has the potential to become the dominant blockchain platform.

How to buy Ethereum Classic

If you’re looking to purchase Ethereum Classic, there are a few things you’ll need to keep in mind. In this guide, we’ll walk you through the process of buying ETC, including how to find a reputable exchange and what payment methods you can use.

When buying Ethereum Classic or any other cryptocurrency, it’s important to remember that the prices are highly volatile. This means that the price of ETC could go up or down significantly in a short period of time. Before making a purchase, it’s important to do your research and understand the risks involved.

One of the most popular exchanges for buying Ethereum Classic is Coinbase. Coinbase is a US-based exchange that offers both a website and a mobile app. Purchases can be made using US dollars or Euros, and payments can be made with a credit or debit card, or via bank transfer.

If you’re looking for an alternative to Coinbase, another option is Kraken. Kraken is a leading cryptocurrency exchange that offers ETC (among other cryptocurrencies) in both USD and EUR. Payment methods include bank transfer and cryptocurrency deposit (such as BTC or ETH).

Once you’ve chosen an exchange, you’ll need to create an account and verify your identity. This process usually requires you to upload a copy of your ID, as well as a selfie with your ID in hand. Once your account is verified, you can deposit funds and begin buying ETC.

When making a purchase, you’ll need to specify how much ETC you want to buy, as well as the price you’re willing to pay. It’s important to remember that the prices on cryptocurrency exchanges are constantly changing, so you’ll need to be quick when placing an order.

Once your order is placed, it will be matched with another user who’s selling ETC at the same price. The transaction will then be processed and the ETC will be deposited into your exchange wallet. From there, you can withdraw the ETC to a personal wallet for safekeeping.

Ethereum Classic historical price – Line chart & candlestick

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Advantages of Ethereum Classic

There are many advantages of using Ethereum Classic over regular currencies. For one, payments made with Ethereum Classic are quick and easy. Additionally, fees for international payments with Ethereum Classic are often much lower than those associated with traditional payment methods.

Another big advantage of Ethereum Classic is that it is a very safe and secure way to make transactions. Ethereum Classic is also a decentralized currency, which means that it is not subject to the control of any central authority. Finally, inflation does not affect Ethereum Classic in the same way that it does traditional fiat currencies.

Ethereum Classic calculator

Here you can calculate the value of Ethereum Classic in all major fiat currencies.

ETC

Invest in Ethereum Classic

There are different ways to invest in Ethereum Classic. You can either buy the currency directly or you can invest in companies that use Ethereum Classic.

If you want to buy the currency directly, you can do so on exchanges like Coinbase or Kraken. The advantage of this is that you have full control over your investment. However, it can be a more volatile investment, as the price of Ethereum Classic can fluctuate greatly.

If you want to invest in companies that use Ethereum Classic, you can do so through investment vehicles like the Grayscale Ethereum Classic Investment Trust. This is a more stable investment, as the price of the trust doesn’t fluctuate as much as the currency itself. However, there are fees associated with this investment, so it’s important to research before investing.

Ethereum Classic is a fairly stable investment. The currency has seen steady growth since its inception, and the overall trend seems to be positive. However, as with any investment, there is always some risk involved. Before investing, be sure to do your research and understand the risks involved.

Ethereum Classic – FAQ

Here we present the answers to some of the most frequently asked questions about Ethereum Classic.

What is the difference between Ethereum Classic and Ethereum?

Ethereum Classic is the original Ethereum blockchain, which was created in 2015. Ethereum Classic is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference.

Ethereum is a fork of the Ethereum Classic blockchain. The fork occurred in 2016 after a hacker exploited a flaw in a smart contract on the Ethereum network, resulting in the theft of over $50 million worth of Ether. The Ethereum community decided to hard fork the blockchain in order to refund the stolen funds. This created two separate blockchain networks: Ethereum and Ethereum Classic.

Ethereum Classic maintains the original vision of Ethereum as a decentralized platform that runs smart contracts. Ethereum, on the other hand, has evolved into a platform that is used primarily for developing decentralized applications (dapps).

While both networks share a common history, they have become quite different in terms of their purpose and use cases. Ethereum Classic is focused on immutability and censorship-resistance, while Ethereum is focused on dapp development.

Can Ethereum Classic be hacked?

Ethereum Classic is often lauded for its security, but that doesn’t mean it’s immune to hacking. In fact, there have been a number of high-profile hacks on Ethereum Classic in recent years.

The most notable of these was the 2016 DAO hack, which resulted in the loss of over $60 million worth of ETH. While the Ethereum Classic team was able to hard fork the blockchain and refund the stolen funds, the incident highlights the fact that no blockchain is completely safe from hacking.

More recently, in 2019, a group of hackers managed to steal over $1 million worth of ETC by exploiting a flaw in a popular wallet service. Again, while this hack was eventually fixed, it goes to show that even the most well-secured blockchain can be vulnerable to attack.

So, while Ethereum Classic is generally considered to be a very secure platform, it is not immune to hacking. If you’re holding ETC, or planning on investing in it, it’s important to be aware of the risks.

Can Ethereum Classic be mined?

Yes, Ethereum Classic can be mined. However, it is not as profitable to mine Ethereum Classic as it is to mine Ethereum. This is because the mining difficulty for Ethereum Classic is much lower than for Ethereum. As a result, miners earn less rewards when they mine Ethereum Classic. Nevertheless, some people still choose to mine Ethereum Classic because they believe in the Ethereum Classic project.