What is Ethereum (ETH)

Ethereum is a decentralized software that runs on a blockchain network powered by the Ether token. Programmer Vitalik Buterin founded it in 2013, among other co-founders like Joe Lubin and Cardano’s Charles Hoskinson. It is dubbed the future of the web and internet due to its ability to be incorporated into many projects through Smart Contracts. Ether is the largest by market capitalization after Bitcoin.

ETH to ZAR Price

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[crypto-table id=’ethereum’]

Features and use cases of Ethereum

  • Supply and distribution

Unlike Bitcoin and many other cryptocurrencies, Ethereum’s cryptocurrency has no fixed supply cap. Instead, its supply grows year after year. Interactions within the networks are referred to as transactions. They are stored in ‘blocks’ in the Ethereum Blockchain. Miners in the network validate these transactions and are added to a new block. These transactions are verified by an algorithm called Proof-of-Work (PoW). The miners are rewarded with ETH tokens on successful verifications.

  • Smart Contracts

A smart contract is an automated contract in which the conditions of the buyer-seller agreement are entered directly into lines of code. Smart contracts are the driving force behind Ethereum’s goal of having a system managed by code algorithm rather than a third party. When specifically defined circumstances are met, smart contracts are automatically executed without the intervention of a third party. Most cryptocurrencies support smart contracts. They are not limited to Ethereum and can be used elsewhere like the BNB Smart chain (BSC). However, most of them are well-known to be executed in Ethereum. Bitcoin also supports basic smart contracts, but their uses are limited compared to Ethereum’s. Some developers and experts have attacked smart contracts, claiming that they could lead to security flaws.

  • Ethereum Virtual Machine (EVM)

The Ethereum Virtual Machine (EVM) is a program that performs smart contracts. It aids in translating smart contracts written in a language that computers cannot understand into a language that they can understand (bytecode). The EVM can execute at least 140 distinct programs with specified tasks.

  • Decentralized Finance (Defi)

The term “decentralized finance” refers to financial services and products available and accessible to anyone who can utilize Ethereum. With Defi, no authority can refuse a user access to anything or prevent payments, and marketplaces are always open. Anyone can check the codes, and because the services are now automated and governed by code, there are no dangers of human error.

  • Non-Fungible Tokens (NFTs)

NFTs are one-of-a-kind tokens that may only be connected to one-of-a-kind products and cannot be exchanged for other items. They allow digital cash to assign value to art, music, and other forms of expression. They are protected by the Ethereum blockchain and can only have one owner at any given moment. A new NFT cannot be created by copying and pasting, and no two may be identical. They work with everything that is built on the Ethereum platform. NFT owners have worldwide market access.

  • Decentralized autonomous organizations (DAOs)

DAOs are decentralized autonomous organizations (DAOs) owned and administered jointly by their members and run on smart contracts. They are internet-based and include built-in treasuries that are only be accessed with the group’s consent. To guarantee that everyone in the group has a chance to express themselves, they make choices through suggestions and voting. There is no CEO or CFO, and the DAO code contains the rules that regulate their spending. The codes and all of its activities are open to the public, and they follow a democratic structure. Before any modification may be enacted, the votes are required. Charity organizations, ventures, freelancer networks, and other DAOs are perfect examples. Ethereum is perfect for DAOs since the network is secure and can be trusted.

Where to Buy Ether (ETH) in South Africa

  1. Coindirect

Coindirect, founded in 2017, offers customers to purchase and sell more than 40 cryptocurrencies using their local currencies, including BTC, ETH, USDT, XRP, and LTC.

Visa, MasterCard, PayPal, and mobile money are all accepted payment options. Create an account and deposit ZAR to buy ether in South Africa. You can also buy ETH on the exchange or convert your existing coins to ETH.


  • Apps for Android and iOS are available.
  • Available in other African countries like Nigeria, Burkina Faso, and Kenya 
  • Coindirect provides a ZAR to ETH converter.
  • There are no additional charges for EFT transactions.

2. Valr

In South Africa, you may buy Ethereum on the VALR exchange based in Johannesburg. Users can acquire Ethereum instantaneously or with a limit order on the exchange. You can buy ETH with rand by using an EFT from any South African bank.


  • Apps for Android and iOS
  • Calculator to convert ZAR to ETH
  • Only South Africa has access to the platform.
  • In Valr Rand (ZAR) can be deposited for free.

3. Binance

Binance allows consumers to deposit funds in various fiat currencies, including the South African Rand. As a result, you can buy Ethereum from Binance using various methods such as bank transfers and others.

One of the advantages of using this broker is that its account users can use two-factor authentication (2FA); hence users’ accounts are safe from unauthorized access. Wallet address white-listing and email notifications are also available for free. Alternatively, you can transfer Ethereum funds to any compatible private wallet.


  • High trading volume and liquidity
  • A wide range of Ethereum trading pairs is supported.
  • It is appropriate for professional users due to its unique features and tools.
  • A 0.1 percent trading commission is charged.
  • Binance allows for transferring funds via credit/debit cards and bank transfers.

4. Coinbase

Since 2012, Coinbase has had a solid reputation in the cryptocurrency market. Furthermore, the site is secure; consumers may utilize the 2FA option to protect their crypto assets.

Purchasing Ethereum on Coinbase is a simple process. MasterCard and Visa Credit cards are among the options. After your Coinbase account has been verified, you can expect quick transactions.


  • You can buy Ethereum for as little as $25.
  • For easy navigation, a user-friendly interface is provided.
  • An easy-to-use mobile app.
  • Debit card deposits have a high fee of 3.99 percent.