Starting today, you can buy, receive, store, swap, and send Ether (ETH) using the Bitcoin.com Wallet!
ETH is the native cryptocurrency of the Ethereum network, which is a decentralized, open-source blockchain platform featuring smart contract functionality. Founded in 2015 and spearheaded by Russian-Canadian developer Vitalik Buterin, the Ethereum network has attracted the largest community of blockchain developers and garnered the widest adoption amongst smart-contract platforms.
What is ETH used for?
Like Bitcoin and Bitcoin Cash, ETH can be used as a peer-to-peer ‘permissionless’ digital currency. So, rather than relying on an intermediary like a bank or payment provider, you’re free to send and receive money to or from whoever you want – whenever you want – without asking for permission. And just like with BTC and BCH, this is done pseudonymously, meaning your identity isn’t directly tied to your Ethereum wallet.
ETH is also the fuel needed to use Ethereum, which can be thought of as a globally distributed shared computing network. In this sense, smart contracts are analogous to software. Developers use smart contracts to create Decentralized Applications (DApps).
Why support Ethereum in the Bitcoin.com Wallet?
Bitcoin.com is committed to providing safe and user-friendly access to the growing array of use cases and applications in the crypto world, and many of those are built and deployed on the Ethereum network.
As the #2 cryptocurrency by market capitalization, Ethereum has proven that it provides utility to a wide range of users. Further, the community of users and developers behind Ethereum have many of the same goals as Bitcoin.com. By adding support for ETH, we hope to build more bridges across the growing cryptocurrency landscape.
What can you do with ETH in the Bitcoin.com Wallet?
Currently, the Bitcoin.com Wallet provides the ability to buy, receive, store, swap, import, and send ETH.
Tapping the “BUY” button will prompt you to enter a purchase amount. If you’ve already connected your payment method to the Wallet, your purchase will go through instantly. Otherwise, you’ll need to follow the steps to set up your payment method – but it really is that easy.
You can swap instantly between ETH and a variety of other cryptocurrencies in just a few taps. This means you can move in and out of tokenized USD ‘stablecoins’ and diversify your portfolio – right there from the convenience of your mobile device.
Sending and receiving ETH
Read more: How do fees work when sending Ethereum?
Importing an Ethereum wallet
You also have the option to import an existing Ethereum wallet. Just tap the “ADD/IMPORT” button on the home screen and scan the QR code or enter the 12-word secret phrase from your existing wallet.
When you hold ETH in the Bitcoin.com Wallet, you’re taking full custody of it. That means you – and you alone – have control of, and access to your ETH. But with great power comes great responsibility, so be sure to brush up on the basics on of cryptocurrency security.
Unstoppable Domains and Ethereum Name Service (ENS)
We’ve also integrated support for both Unstoppable Domains and ENS. These are decentralized alternatives to the traditional Domain Name System (DNS) that has come to dominate Internet real estate. By supporting these new systems in the Wallet, it means you can now send cryptocurrencies, including BTC, BCH, ETH, and more, to human-readable aliases like brad.crypto and vitalik.eth, rather than having to input long alphanumeric cryptocurrency addresses.
You can buy your own Unstoppable Domain in the Wallet via the Discovery tab and set it up to receive cryptocurrencies to your human-readable domain name.
In line with our vision of creating more economic freedom in the world, we’ll be rolling out more functionality and features in the Bitcoin.com Wallet over the coming months. This will include the ability to sell ETH, support for Ethereum-compatible (ERC-20) tokens, and more. Sign up to our mailing list to learn about these new features and be the first to use them.