HomeHome SearchSearch MenuMenu Our productsOur products

How to buy Ethereum in just six simple steps!

by , 01 September 2020
How to buy Ethereum in just six simple steps!
This is the MOST exciting technology I've ever come across.

I'm talking about Blockchain.

It's one that is truly going to rule the world when it comes to business, making transactions and with trading the financial markets.

If you missed Wednesday's brief explanation on what Blockchain is and how it works - it's actually ok!

Just don't miss this one.

Today I'm going to expand on the power of Blockchain and simplify it to the point where you'll understand it easily and how to buy a crypto-currency like Ethereum using blockchain…

Let's start…

________________________________________
 
New profitable opportunities have just arrived!
 
If you missed the last batch, you’re in luck for the next.
 
Basically, Timon’s weekly profit strategy has been outperforming most markets recently.
 
He’s generated double and triple digit gains in as little as 2 weeks.
 
And month after month, the gains just keep on rolling in.
 
Take a look at the last three months alone:
 
 
 
________________________________________
 
The evolution of money in 5 simple words
 
Barter – Coins – Paper – Cards – Digital
 
This is the order of money and means of exchange, since the beginning of time.
 
What’s consistent with the evolution of money is the efficiency.
 
Basically, whenever it’s moved from one form to the next it’s made it easier to transact, exchange and store.
 
Fast-forward to today, and we have trillions of currencies worth of debt and money that is purely created and stored in the digital ether.
 
I’m talking about debt, credit and crypto-currencies. We’re in the era where, we can make card payments and online payments – without ever seeing the money we own.
 
This is all because of the advancement of technology.
 
And today we’re in a new period, where there’s a new form of exchange.
 
Introducing Blockchain…
 
In short, blockchain is a system where you can send and receive things over the internet.
 
With this system, it is completely decentralised where it’s free from banks, 3rd parties and is more secured and private than with other institutions.
 
And each transaction (‘block’) that is made, is verified, recorded and linked or grouped chronologically onto a chain of other transactions “blocks”.
 
*You can think of a blockchain as one long ledger, similar to how accounting bookkeeping systems work.*
 
Whenever a transaction takes place, it is given a short code (with letters and numbers) called a “hash”.
 
This is a transparent and public record that anyone can retrace the transaction that was taken.  In the hash code, you’ll have access to a bunch of information including:
 
1.    The data of the new block
2.    The reference to the previous hash code
3.    A time stamp
4.    Transaction data
 
The hash is how one block links onto another block and becomes a chain. This is important because, how it groups makes it almost impossible to tamper, hack or corrupt the chain.
 
To do so you’ll need to change every block on the entire blockchain.
 
And once you’ve managed to do that, you’ll then need to be verified and checked by all of the users on the blockchain system. So, you can see that blockchain is an extremely secured system.
 
SIDE NOTE:
 
My favourite blockchain on the market right now is Ethereum (2nd largest crypto by market cap). Ethereum is one of the giants that are upgrading their system to a new and improved blockchain. This will allow all forms of transactions from building business, selling services, importing and exporting to just plain buying goods and services.
 
But to make it simple, I want to now go through the six steps on how a transaction works using blockchain.
 
How blockchain works in six simple steps
 
Let’s say Mary wants to invest in the crypto-currency market. And so, she wants to convert R20,000 into Ether (Ethereum’s crypto currency).
 
Here are the six steps, using a hypothetical blockchain transaction, for Mary to convert her rands into Ether. 
 
Step #1: Request a transaction
 
Mary goes onto a crypto-currency exchange i.e. Coinbase and simply sends an instruction to buy 3.10 ETH by paying R20,000.
 
NOTE: 1 Ethereum is equal to R6,451
 
Step #2: A block representing the transaction is created
 
This is a hash (code of letters and numbers) with the information of Mary’s most current requested transaction.
 
Step #3: The block is then sent throughout the network
 
The block (with the transactions details) are sent to all of the computers in the network (blockchain).
 
Step #4: Approval or disapproval is given
 
The computers and networks all verify and approve the transaction.  
 
Step #5: The VERIFIED block is added onto the blockchain
 
This is the hash code that contains all of the information of the current block, previous block and transaction data.
 
Step #6: The transaction is complete
 
Mary then receives her 3.10ETH which is stored in her digital wallet. And now she can use it to facilitate future trades or transactions in the crypto-world using Ethereum.
 
That’s it!
 
________________________________________
 
You may never see value on the stockmarket quite like this ever again!
 
Right now, there are a handful of little known stocks at the most attractive levels they've been in a decade:
 
A Precious metals producer that's turning mine dumps into money - and it's just signed a deal to get its hands on a 150 million tonne copper opportunity in Africa
 
A Pharmaceutical and healthcare company that's capturing the entire value chain from medicine and PPE to medical aids, and health insurance - and even though you've probably never heard of it - it serves more clients than Discovery Health!
 
A niche manufacturing company that's literally DOUBLED its footprint in Europe over the last couple of years - and now its expanded with another offshore acquisition
  
An essential logistics provider that's paying one of the largest dividends on the JSE - whilst still growing its business year on year.
  
An up and coming transport company that's making big money from government's failures in the public transport space
 
I’ve identified these 5 local companies I believe could double in share price or even more over the next 24 months! You can learn more here.
 
________________________________________
 
It’s time to be ahead of South Africa and invest in the future of blockchain
 
Blockchain might sound other worldly, but it’s really not.
 
There are many companies world-wide building blockchain operations, upgrading their currencies to blockchain technology and creating decentralised apps for all uses…
 
That’s why, crypto-expert Sam Volkering wrote his book The Crypto Revolution to help you and me understand how this technology is the future for business and profit.
 
And now is the time to wake up to what profit opportunities will come from blockchain…
 
You can read his book “The Crypto Revolution” for free by clicking here.
 
Trade well,
  
Timon Rossolimos
Analyst, Red Hot Storm Trader
 
P.S: Now that you understand Blockchain I’m sure this quick infographic sums it up nicely. If you want claim a copy of Sam Volkering’s book to learn everything there is to know about Crypto then go here.



How to buy Ethereum in just six simple steps!
Rate this article    
Note: 4.75 of 2 votes

Related articles



Related articles




Trending Topics