When it comes to investing in crypto, there are a lot of options out there. But if you’re looking for something with a little more stability, then Ethereum may be the right choice for you. Here’s a guide to some of the most common uses for ETH.
What can you do with Ethereum?
There are several things you can do with your Ethereum investment. These include:
- Stake ETH to secure the network
- Buy NFTs
- Participate in DeFi
- Trade cryptos on-chain
- Use ETH to pay for goods and services
Let’s take a deeper look at each of these options
1. Stake ETH to secure the network
One of the most popular uses for ETH is staking. When you stake ETH, you’re essentially locking up your funds to help secure the Ethereum network. In return for your help, you’ll earn rewards in the form of ETH. To stake ETH, you can use a variety of different platforms. Some of the different options for ETH staking:
- Kraken – one of the most popular cryptocurrency exchanges, which also offers an ETH staking platform
- Coinbase – another major crypto exchange with an easy-to-use staking platform
- Binance – one of the largest cryptocurrency exchanges in the world, which offers a variety of staking options
2. Buy NFTs
Non-fungible tokens (NFTs) are digital assets that are unique and cannot be replaced. They’re often used to represent items like art, collectibles, and in-game items. Ethereum is one of the most popular platforms for buying and selling NFTs. Some of the most popular NFT marketplaces include:
- OpenSea – the world’s largest NFT marketplace with over 2 million users
- Rarible – a user-friendly platform where anyone can create, buy or sell NFTs
- Enjin – a gaming-focused NFT platform that’s home to some of the most popular NFTs in the world
3. Participate in DeFi
DeFi (decentralized finance) is a growing industry that’s built on Ethereum. It’s designed to offer financial services that are typically provided by centralized institutions like banks and governments. Some of the most popular DeFi applications include:
- Maker – a platform that allows you to earn interest on your ETH by lending it out to others
- Compound – another lending platform that lets you earn interest on your crypto
- Uniswap – a decentralized exchange where you can trade a variety of different assets
4. Trade cryptos on-chain
Ethereum is also home to a number of different on-chain exchanges, which allow you to trade cryptocurrency directly from your wallet. This is a great option if you’re looking for a more secure way to trade crypto. Some of the most popular on-chain exchanges include:
- IDEX – a decentralized exchange with a wide range of trading pairs
- Kyber Network – an on-chain exchange that’s integrated with a number of different wallets
- Airswap – a peer-to-peer exchange that offers a simple and user-friendly experience
5. Use ETH to pay for goods and services
One of the most practical uses for ETH is paying for goods and services. There are a growing number of businesses that accept ETH as payment, including:
- Overstock – a major online retailer that accepts ETH as payment for a wide range of products
- NewEgg – an online retailer that specializes in computer hardware and electronics, which also accepts ETH as payment
Final thoughts
When it comes to buying and using Ethereum, there are a lot of different options available to you. Whether you’re interested in staking ETH to earn rewards, buying NFTs, participating in DeFi, or simply using ETH to pay for goods and services, there’s an option that’s right for you. So what are you waiting for? Start exploring all that Ethereum has in store for you.
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