Ethereum classic (ETC) which came into the crypto currency market in 2016 as a fallout from the hard fork that took place involving Ethereum, is an open source Blockchain based decentralized computing platform that runs Smart Contracts. Ethereum classic like Ethereum have a value token called “Ether” which can be easily transferred between participants and this Ether can be stored on a crypto currency wallet.
It is worthy of note that the Ethereum classic token can be traded on crypto currency exchanges under the symbol ETC. Ethereum classic can be used as the main asset for transferring value or sending cash. Now let’s look at some of the amazing benefits users can derive from using Ethereum classic:
- Fantastic way to send cash and own the network: Just like Etherecash, Ethereum classic can also be used in exchange for fiat cash. This is even more beneficial considering the huge interest rate imposed whenever one uses the bank to send cash. When you join Ethereum classic network, you are able to send cash and own the network. The authentication via proof of work algorithm when transactions are carried out on the Ethereum classic platform makes the system a delight to users
- Guarantee users of investing and trading without 3rd party interference: All transactions carried out on the platform are free of third party manipulations. No fear of having your account getting frozen while trading. This creates added security and confidence on users who use the platform
- Multiple streams of income: Ethereum classic offers users the opportunity to create multiple streams of earning returns via the platform. You can either trade Ethereum classic on exchanges, or hold the coins as it appreciates in value over time. Alternatively, you can decide to grow the business using its decentralized applications
- Cheap way of sending value via Peer-to-Peer: The decentralized nature of ETC means its users can easily send fiat cash seamlessly and with amazing speed as compared to using banks. The advantage here is that transactions via ETC are very cheap as the transaction fee is very minimal compared to secular banks
- Gives users greater control and freedom: Secular banking system tend to limit users as par mode of operations. Most banks have closing time and they don’t operate on weekends including Sundays. On the other hand, Ethereum classic network offers so much freedom and control to users who can make a transaction anytime of the day even on weekends and public holidays. Its a 24/7 system that gives you varied option.