FAQ
Ethereum is a blockchain platform that lets developers build apps and programs that run without a central authority. ETH is its currency.
Bitcoin is primarily a digital currency. Ethereum is a programmable platform that also has a currency (ETH). Ethereum supports smart contracts and dApps; Bitcoin does not.
ETH is used to pay transaction fees (gas), access dApps, participate in DeFi, buy NFTs, and stake to earn rewards on the network.
Ethereum has established real-world utility, but like all crypto assets, it is speculative and volatile. Always research and consider your risk tolerance.
You can buy ETH at a Localcoin ATM — find one near you using the Localcoin ATM locator. It’s as easy as using a regular bank machine.
A gas fee is the cost you pay to complete a transaction on the Ethereum network. It compensates validators for processing and securing the transaction.
Staking means locking up ETH to help validate transactions and secure the network. In return, stakers earn ETH rewards — similar to earning interest on savings.
Ethereum launched in July 2015. It transitioned from Proof of Work to Proof of Stake in September 2022, in an upgrade known as ‘The Merge.’