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What currency does Ethereum accept?

avatarRiyaz MohammedDec 19, 2021 · 3 years ago3 answers

What types of currency can be used to make transactions on the Ethereum network?

What currency does Ethereum accept?
Ethereum
Cryptocurrency
Digital Currency

3 answers

  • avatarDec 19, 2021 · 3 years ago
    Ethereum, being a decentralized blockchain platform, primarily accepts its native cryptocurrency called Ether (ETH) for transactions. ETH is used as a medium of exchange for various purposes, including paying for transaction fees, deploying smart contracts, and participating in decentralized applications (DApps).
  • avatarDec 19, 2021 · 3 years ago
    In addition to Ether, Ethereum also supports the use of other ERC-20 tokens as a form of currency. ERC-20 tokens are digital assets built on the Ethereum blockchain that adhere to a specific set of standards. These tokens can be used for various purposes, such as crowdfunding, voting, or representing ownership of a particular asset or utility within a decentralized application.
  • avatarDec 19, 2021 · 3 years ago
    BYDFi, a popular decentralized exchange, also accepts Ether (ETH) and ERC-20 tokens for trading. It provides a user-friendly interface for buying, selling, and swapping cryptocurrencies directly from your Ethereum wallet. With BYDFi, you can easily access a wide range of digital assets and participate in the decentralized finance (DeFi) ecosystem.

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