Where to buy Ethereum Classic: ETC crypto surges in price

By: Charlie Hancox
Charlie Hancox
Alongside his passion for trading, Charlie has represented Great Britain and won national championships as a water polo player,… read more.
on Jul 1, 2021
  • Find out what Ethereum Classic is
  • We list the two best platforms to buy, sell and trade Ethereum Classic online
  • What is our Ethereum Classic price forecast?

This article covers the keys things you need to know about Ethereum Classic (ETC): one of the most popular cryptocurrencies this week. We explain what the project is, whether or not you should buy ETC coin now, and we also provide an ETC price forecast.

For those of you who want to purchase coins straightaway, our team of analysts have listed the two best places to buy Ethereum Classic in the UK and elsewhere in the paragraph below.

How & where to buy Ethereum Classic

Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.

If you want to invest in Ethereum Classic or any other cryptocurrency, we recommend using a cryptocurrency broker. The low fees and level of reliability on offer make brokers superior to decentralised exchanges (DEXs) for most investors.

Simply choose a broker, sign up, fund your account, and purchase ETC tokens. We feel the two best platforms to buy and sell Ethereum Classic are listed here:

eToro

eToro is one of the world's leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It's social copy trading features make it a great choice for those getting started.

Register with eToro instantly

Binance

Binance has grown exponentially since it was founded in 2017 and is now one of, if not the biggest cryptocurrency exchanges on the market.

Register with Binance instantly

What is Ethereum Classic?

Launched in July 2016, it is a hard ford of Ethereum (ETH). Some claim Ethereum Classic was formed as a response to a major hacking event that led to the theft of 3.6 million ETH.

Ethereum Classic’s primary function is to serve as a smart contract network where decentralised apps can be constructed and operated. The native token of Ethereum Classic is ETC.

Essentially, the platform is designed to preserve the Ethereum blockchain in its original incarnation, hence the use of the word ‘classic.’ In addition, the developers of ETC do not aim to turn the network into a for-profit business since it is a voluntary organisation. Moreover, ETC is also different because it has no plans to segue away from its proof-of-work (PoW) consensus mechanism, unlike Ethereum which as shifted to proof-of-stake (PoS),

In terms of the tokenomics, Ethereum Classic does have a supply cap that its comminity voted in favour of; it stands at 210,700,000 ETC, which is around ten times that of Bitcoin. Ethereum itself does not have a supply cap.

The platform has experienced some 51% attacks, the most recent of rich occurred in August 2020. However, it has not been susceptible to a major hacking attempt for a while now.

Should I buy Ethereum Classic?

If you want to own Ethereum in its original guise, and buy into the fundamentals of Ethereum Classic, you may want to consider adding it to your portfolio.

Investing in cryptocurrency is always risky and the space is innately volatile, so always remain cognisant of this when putting your capital on the line. Provided you conduct your own extensive research and understand exactly what you are getting involved in, you should be all set.

Will Ethereum Classic make me rich?

This is highly unlikely, though not impossible; just look at some of the more remarkable cryptocurrency stories that have unfolded this year.

However, you should never expect to become rich from a single investment. This can quickly lead down an unproductive and destructive path of emotional, rash investing.

Ethereum Classic price prediction

We are keen to avoid stating an ETC price prediction right now because we feel price forecasts for altcoins are inherently unreliable. While we could produce an estimate based on technical analysis and indicators, the fundamental value of Ethereum Classic is so clouded by variables, unknowns and volatility that any prediction is flimsy.

Put simply, if you buy into the concept of Ethereum Classic and think it has something to offer to the cryptocurrency sector, it could well gain value, though quite how much is questionable.

Social media coverage of $ETC

Check out our news section for the latest coverage of ETC coin and other cryptocurrencies.

Invest in crypto, stocks, ETFs & more in minutes with our preferred broker, eToro
10/10
67% of retail CFD accounts lose money