First there was Bitcoin, then the blockchain, then Litecoin and now, Ethereum. These are cryptocurrencies and there are some 800 cryptocurrencies currently. Although most are unheard of. Ethereum comes in two versions, Ethereum (ETH) and Ethereum Classic (ETC) and this causes quite a bit of confusion. Ethereum is the brain child of Vitalik Buterin, a Russian programmer. Vitalik was an early adopter of block chain technology and was the founder of Bitcoin Magazine. He created Ethereum in late 2013 to do things which Bitcoin couldn’t do, and formally announced it at The North American Bitcoin Conference in Miami, USA in January 2014. Ethereum was not built to be just a cryptocurrency. It is meant to be a hub where you can code, run, and execute DApps and smart contracts.
Ethereum suffered a major setback when the DAO, which was built to act like a decentralized venture capital fund for decentralized crypto projects, was exploited by attackers and more than $50 million was drained out of the DAO’s funds. This lead to mayhem in the crypto space, among DAO investors, and particularly among members in the Ethereum community. The unfortunate event brought the DAO investors and the Ethereum community to a standstill. DAO was one of the earliest and biggest applications being built on Ethereum’s platform, and it resulted in chaos, causing Ethereum’s prices to plummet. A new version of the original block chain evolved, hence why there are two versions of Ethereum.
Ethereum Classic/ETC Casinos
Ethereum Classic provides a value token called "classic ether", which can be transferred between participants, stored in a cryptocurrency wallet and is used to compensate participant nodes for computations performed. The classic ether token is traded on cryptocurrency exchanges under the ticker symbol ETC. Ethereum Classic is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference. Valid transactions can never be erased or forgotten. Individuals interacting on Ethereum Classic are governed by this reality; Code is Law.
It’s not difficult to buy Ethereum and in fact, can be dome in just three steps. Get an ETC wallet. As a mobile solution you can use the multi-currency wallet Coinomi, which allows multiple types of assets, ETC being one of them. Coinomi Works on android and soon on iOS too. ClassicEtherWallet CX is a Chrome extension which lets you hold ETC with ease, without having to resort to a web wallet since the extension is used as a local lite wallet. Ledger Nano S has native support for ETC and can easily be used to keep your ETC on cold storage.
There are 3 main exchanges recommended for buying actual ETC, these are Poloniex, Bitfinex, and Kraken. Platforms like eToro don’t give you actual access to your coins and you can’t send coins from eToro to other people. The only thing that can be done with the platform is to buy and sell Ethereum Classic for currency that a government has declared to be legal tender, but is not backed by a physical commodity. Kraken and Bitfinex allow you to buy ETC with fiat currency as well as with Bitcoin. In Poloniex however you can only trade Bitcoins for ETC.
Finally, just withdraw your Ethereum classic into your wallet. Go to the wallet you’ve chosen and get a receiving address. Put in the address you got from your wallet, chose the amount, which should be the entire amount that you’re not actively trading, and hit “Withdrawal”. Keep in mind that some daily and monthly withdrawal limits apply, and to increase them you should verify your identity with the exchange. Viola! You are done! That’s all it takes.
