ETH-ZAR price

Ethereum is a blockchain launched in 2015 as an answer to Bitcoin's lack of programming possibilities. It allows anyone to launch new cryptoassets and decentralized applications. Its native cryptocurrency, ether (ETH), is today the second largest in market capitalization.

Right now, 1 ether is worth R .

Right now, 1 South African rand is equal to ETH.

Ethers used to be created by mining similarly to Bitcoin (Proof-of-Work) until September 2022, when Ethereum switched to a Proof-of-Stake system. It is therefore not possible to mine Ethereum anymore.

Proof-of-Stake (Pos) is the name of the consensus mechanism (the system to agree on the state and integrity of a blockchain) used by Ethereum and other blockchains.

Ethereum was conceived in a white paper published in late 2013, then officially launched on 30 July 2015.

Ethereum was created by Vitalik Buterin and co-founded by Anthony Di Iorio, Charles Hoskinson, Mihai Alisie, Amir Chetrit, Joseph Lubin, Gavin Wood and Jeffrey Wilcke.

New ethers are created as rewards for validators of the network when each new block is added successfully to the Ethereum blockchain.

Ethereum's value is basically linked to how thriving is its ecosystem of decentralized apps, sidechains and layer 2 networks. Considering that Ethereum is the leading blockchain after Bitcoin, it is considered a good long-term investment. Like any investments, it is risky and you should only invest after having carefully studied Ethereum.

There are currently about 120 million ETH in circulation. You can see the current supply and its growth in real time on ultrasound.money.

The price of Ethereum refers to a global price that is calculated by making a volume-weighted average of its real-time price on many different exchange platforms where it is traded, such as Binance, Bybit, OKX, Coinbase, Kraken, etc.

In the US, Ethereum has been classified as a commodity and not as a security by the Commodity Futures Trading Commission (CFTC), while the Securities and Exchange Commission (SEC) has not taken any official position so far.

Gas is the cost of making an Ethereum transaction, which goes to the computers validating the blockchain. That cost is expressed in gwei, and is determined by multiplying the gas price (how many gwei the network currently asks as base fee for a transaction) with the gas used (how many gwei are consumed by the transaction). It is comparable to a car's gas, with a price per liter and a consumption per kilometer. You can find live gas price and cost estimations on etherscan.io/gastracker.

A gwei is a smaller unit of an ether (ETH), which is equal to one billionth of an ETH. The smallest unit of an ETH is a wei, which is equal to one billionth of a gwei.

There are 1 billion gwei in 1 ETH.

Gas fees are the lowest when fewer people use Ethereum, which usually is on weekends and during nights on Eastern Time when most of the world is either sleeping, beginning or ending the day.

You never store Ethereum in itself. Instead, you store the private key giving you access and control over an Ethereum address. That key is stored in a wallet, which provides an interface to use it. To learn more, read our in-depth guide on storing crypto assets.

To send ethers, you use an Ethereum wallet like Bridge Wallet where you will choose the amount to send and the destination address. Confirm and send, that's it!

Sending funds on Ethereum is not free, each transaction has a fee paid to the validator that will process the transaction. That cost changes all time, it depends on the current demand as well as the amount of data consumed by the transaction. To see the current cost of making an Ethereum transaction, go to etherscan.io/gastracker.

You can buy Ethereum with us from South Africa by sending us bank transfers in ZAR, avoiding that way unnecessary currency exchange fees. For more information, have a look at our step-by-step tutorial on how to buy Ethereum.

You can swap Ethereum here against one of the cryptocurrencies that we support, using any self-custodial Ethereum wallet. For more information, have a look at our step-by-step tutorial on how to swap Ethereum.

To cash out Ethereum with us, you simply need to transfer your crypto to our address. We'll convert your ETH in ZAR, then transfer the funds to your bank account in South Africa. For more information, have a look at our step-by-step tutorial on how to sell Ethereum.

DeFi means Decentralized Finance, it is a term used to describe the ecosystem of decentralized financial tools and services that exists on Ethereum and other blockchains supporting smart contracts.

A smart contract is a piece of code living on a blockchain that automatically executes an action when certain conditions are met. It allows anyone to launch decentralized applications with a wide variety of purposes that operate in a transparent, trustless and immutable way.

An Ethereum exchange-traded fund (ETF) is a type of security that allows investors to gain exposure to the price of ETH on regular stock exchanges. An Ethereum spot ETF tracks the current market price of actual ethers held by the fund manager, while an Ethereum futures ETF tracks the price that people think ETH will reach at a future date.