Ethereum: Crypto’s second-in-command comes to SAFCOIN

By admin• February 28, 2022
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You can NOW buy, sell, and shop with ETH in your SAFCOIN Wallet!

We’re starting 2022 with a bang as we welcome aboard new cryptocurrency networks that users can access on their SAFCOIN wallets. One such crypto is none other than the popular Ethereum. Yes! You read correctly - you can now trade, send, receive, hold, and shop with ETH across our Cryptovalley and SAFPay platforms, all from the comfort of your SAFCOIN Wallet.

Ethereum, first conceived by programmer, Vitalik Buterin, in 2013, remains one of the most used blockchains in crypto today, and is a pioneer in its own right, garnering popularity alongside a competitive Bitcoin.

ETH’s price throughout the past two years has seen a positive trajectory, rising from just 229.7 USD in 2020 and 1495.81USD in 2021, to an impressive 3118.78 USD in 2022 (current price at time of writing). Altogether, ETH has seen a 104.5% skyrocket in the past year, and a stellar 1345% increase in adoption across the globe in a two-year period.

Ethereum’s use cases are focussed primarily on the development of DeFi and NFT on the Ethereum network, with technological advancements around DeFi and NFT being the driving forces behind Ethereum’s rise to notoriety.

DeFi or Decentralized Finance is at the core of ETH, an industry wherein technology has been applied to remove intermediaries between parties in a financial transaction.

One such trend is emerging in the form of organized blockchain gaming. In developing nations such as the Philippines, DeFi is not only a means to exchange crypto to fiat. Instead, it goes further to represent an alternative source of income in a world suffering under the after-effects of global lockdowns in response to the pandemic.

Perhaps the most well-known application of ETH is that of NFTs or ‘Non-fungible tokens.’ Having grown nearly tenfold in the past four years, NFTs are digital blockchain assets which function as a unique code connected to a digital file, making it distinguishable from copies.

NFTs are particularly popular when it comes to crypto art, but are also growing in popularity in gaming, sports, and other collectibles. Most notably, the more people create or trade NFTs or earn a passive income through DeFi, the higher the probability that the price of ETH will increase.

Africa is fertile ground for pushing the envelope, and we look forward with fervour to being drivers of economic change.

SAFCOIN is privileged to welcome users and ETH enthusiasts alike onto our platforms to trade, send, receive, hold, and shop with their ETH all within our user-friendly and safe-to-use centralized SAFCOIN eco-system.