Where To Exchange Ethereum Classic (ETC) - Best Platforms With Reviews
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Where can you exchange Ethereum Classic (ETC) in 2024?
Ethereum Classic (ETC) is a popular cryptocurrency with a rich history and strong community support. If you're looking to trade or invest in Ethereum Classic, it's essential to know where to exchange it securely and efficiently. This comprehensive guide will provide you with all the necessary information about the best platforms to exchange Ethereum Classic, as well as an overview of its history, technology, and significance in the cryptocurrency world.
Introduction
Ethereum Classic (ETC) is a widely recognized cryptocurrency that continues to attract interest from investors and traders alike. Knowing where to exchange Ethereum Classic is crucial for those looking to buy, sell, or trade this digital asset. This article will explore various exchanges where you can trade ETC, offering insights into their features, benefits, and security measures.
What is Ethereum Classic (ETC)?
Ethereum Classic is a decentralized, blockchain-based cryptocurrency that emerged as a result of a hard fork from the original Ethereum network. The split occurred in 2016 after a disagreement within the Ethereum community about how to handle a significant security breach in a decentralized autonomous organization (DAO).
History of Ethereum Classic
The history of Ethereum Classic dates back to the inception of Ethereum in 2015. However, the pivotal moment came in June 2016 when a hacker exploited a vulnerability in the DAO, a complex smart contract on the Ethereum blockchain, resulting in the loss of millions of dollars worth of Ether. This event led to a heated debate within the Ethereum community about whether to implement a hard fork to reverse the hack and restore the lost funds.
Those in favor of the hard fork formed what is now known as Ethereum (ETH), while those who opposed it, believing in the immutability of the blockchain, continued with the original blockchain, which became Ethereum Classic (ETC).
Technology Behind Ethereum Classic
Ethereum Classic operates on the original Ethereum blockchain, maintaining its principles of decentralization and immutability. Like Ethereum, Ethereum Classic allows for the creation and execution of smart contracts and decentralized applications (dApps). It utilizes a proof-of-work (PoW) consensus mechanism, where miners validate transactions and secure the network.
Ethereum Classic has undergone several upgrades to improve its scalability, security, and functionality, ensuring it remains a viable and competitive platform in the cryptocurrency space.
Centralized Exchanges for Ethereum Classic (ETC)
Centralized exchanges are among the most popular platforms for trading Ethereum Classic due to their high liquidity, user-friendly interfaces, and extensive features. Here are some of the top centralized exchanges where you can trade ETC:
Binance
Binance is one of the largest and most reputable cryptocurrency exchanges globally. It offers a wide range of trading pairs for Ethereum Classic, including ETC/USDT, ETC/BTC, and ETC/ETH. Binance is known for its high liquidity, low trading fees, and robust security measures, making it an excellent choice for trading ETC.
Coinbase
Coinbase is a well-known exchange that supports Ethereum Classic trading. It provides a simple and intuitive interface, making it ideal for beginners. Coinbase offers ETC/USD and ETC/EUR trading pairs and ensures the security of users' funds through insurance policies and stringent security protocols.
Kraken
Kraken is another reputable exchange that lists Ethereum Classic. It offers several trading pairs, such as ETC/USD, ETC/EUR, and ETC/BTC. Kraken is known for its security, transparency, and comprehensive range of trading tools, catering to both novice and experienced traders.
Decentralized Exchanges for Ethereum Classic (ETC)
Decentralized exchanges (DEXs) provide a more secure and private way to trade cryptocurrencies without relying on a central authority. Here are some decentralized exchanges where you can trade Ethereum Classic (ETC):
Uniswap
Uniswap is a leading decentralized exchange built on the Ethereum blockchain. It allows users to trade ERC-20 tokens, including Ethereum Classic, in a trustless and decentralized manner. Uniswap's automated market maker (AMM) model ensures high liquidity and seamless trading experiences.
SushiSwap
SushiSwap is another popular decentralized exchange that supports Ethereum Classic trading. It operates similarly to Uniswap but offers additional features like yield farming and staking. SushiSwap provides a decentralized platform with competitive trading fees and high liquidity for ETC.
How to Buy Ethereum Classic (ETC)
Step-by-Step Guide
- Choose an Exchange: Select an exchange from the list above based on your preferences regarding fees, security, and user experience.
- Create an Account: Sign up for an account on the exchange. For decentralized exchanges, ensure you have a compatible cryptocurrency wallet.
- Verify Your Identity: Most centralized exchanges require identity verification for increased security and compliance with regulations.
- Deposit Funds: Deposit fiat currency or another cryptocurrency into your exchange account to trade for ETC.
- Buy Ethereum Classic: Navigate to the trading section, select the appropriate trading pair (e.g., ETC/USD), and execute your trade.
- Secure Your Tokens: Transfer your ETC tokens to a secure wallet, preferably a hardware wallet, to maintain control over your private keys.
Security Tips for Trading Ethereum Classic
- Enable Two-Factor Authentication (2FA): Always enable 2FA on your exchange account for added security.
- Use a Hardware Wallet: Store your ETC tokens in a hardware wallet like Ledger or Trezor to protect them from online threats.
- Stay Informed: Keep up with the latest security practices and potential threats in the cryptocurrency space to safeguard your investments.
The Future of Ethereum Classic
Development and Roadmap
Ethereum Classic continues to evolve, with ongoing development efforts aimed at improving its scalability, security, and functionality. Key upgrades and partnerships are expected to enhance the network's capabilities and adoption. Staying informed about Ethereum Classic's roadmap can provide valuable insights into its future potential.
Community and Adoption
The success of Ethereum Classic largely depends on its community support and adoption. Engaging with the Ethereum Classic community through forums, social media, and participating in governance decisions can help shape the project's direction. As ETC gains more adoption and use cases, its value and relevance in the cryptocurrency market are likely to grow.
Conclusion
Exchanging Ethereum Classic (ETC) can be done on a variety of centralized and decentralized platforms, each offering unique features and benefits. By following the steps outlined in this guide and adhering to security best practices, you can trade and hold Ethereum Classic confidently. As Ethereum Classic continues to innovate and expand its offerings, staying informed and engaged with the community will be key to maximizing your investment. Whether you're a seasoned crypto enthusiast or a newcomer, understanding where and how to exchange Ethereum Classic (ETC) is essential for navigating the evolving world of digital assets.
This article aimed to provide a clear, detailed, and comprehensive overview of where you can exchange Ethereum Classic (ETC). It covered the necessary steps to buy and secure Ethereum Classic, the history and technology behind it, and the best centralized and decentralized exchanges for trading it. By following this guide, you can make informed decisions and effectively participate in the cryptocurrency market.
When choosing a platform to exchange Ethereum Classic (ETC),
consider its user rating. Make a conscious choice when choosing a platform.
Study the company page on our website, read user reviews and draw conclusions whether
you should use this service. There are a lot of scams in the field of cryptocurrency.
Taking into account the reputation of the service when choosing a place to exchange
Ethereum Classic (ETC) is absolutely necessary if you do not
want to lose your investment.
112 company
Liquid is a new exchange that was based on Japanese Quoinex and Qryptos exchanges in 2018. Liquid’s World Book combines a global network of liquidity sources by leveraging Quoine's Matching Engine, Smart Order Routing, and Cross Currency Conversion Engine technologies.
LiteBit has been operating since 2013 and is part of the structure of 2525 Ventures B.V. On the LiteBit platform there is a fairly large number of coins, and not only the most popular. Currently, the exchange supports about 51 digital coins. Also, LiteBit was awarded the title of the best crypto broker 2019.
Livecoin was founded in 2013 in London. This exchange works with dollars, euros and roubles. It has more than 100 available coins to trade. Additionaly, the trading fee is not so high, it could be less than 0.02 for high-volume traders.
Livecoin's volume is quite high and it represents more than $30.500.000.
Luno is the second-largest cryptocurrency exchanger in Indonesia. Headquartered in Singapore, Luno has spread to various countries. Become a trusted and decentralized exchanger, because it provides trading transactions for cryptocurrencies such as BTC, ETH, LTC, and other Altcoins. Visit Luno to see the cryptocurrency.
MetaMask is an open-source multi-cryptocurrency wallet and a gateway to Ethereum-based decentralized applications. As the wallet is made for work with the Ethereum blockchain, it's understood that it supports only Ether and ERC20 tokens. This wallet is designed to let users control their data and assets at the fullest and doesn't store data and assets of its users. MetaMask is a mobile application but those who need a desktop version can use a MetaMask browser extension. It is available for Chrome, Brave, and Firefox browsers.
MyEtherWallet (often referred to as MEW) is a free open-source platform providing a user-friendly interface for creating wallets for Ethereum tokens. The platform itself doesn't hold any of the user's money or data. Instead, the assets and personal information are stored on the user's devices while MyEtherWallet provides a wallet address. This approach is supposed to enhance the security of funds and provide users with total control over their assets and data. The mentioned features are available via the use of the MEWconnect mobile app.
Nanex exchange published a shutdown announcement in April 2019. This announcement was later deleted from the company’s blog on Medium.
Novaexchange is a Centralized cryptocurrency exchange based in the Sweden. The exchange was launched in 2016. Its reported volume is about 0 $ as for 8 October 2019.
Novaexchange has 0 available trading pairs and 60 coins. Deposits are Free on the exchange.
Novaexchange doesn't have Fiat deposits op...
Okcoin was created in China by Star Xu in 2013. Star Xu has a background in search systems and tech management. Before launching an exchange, he was working for Alibaba and Yahoo. Later, he created one of the top crypto exchanges — OKEx.
OKX was launched in 2017 in Belize by OKEX Technology Company Limited. It was announced in 2018, that the platform was going to open headquarters in Malta, in order to have an opportunity to provide service for users in over 100 countries.
P2B is a centralized cryptocurrency platform, that offers more than 200 tokens. It covers the following markets: BTC, ETH, USD, EUR, and a number of stablecoins.
Founded in 2011, Paymium describes itself as the first Bitcoin exchange in Europe. It is registered in France as a SAS company and operates as a Bitcoin trading platform.
Poloniex launched in 2014. It is based in the United States. It was recently acquired by Circle, a large Goldman-Sachs backed company. The exchange faced a hacker attack soon after opening which caused a higher level of security provided later. It requires a user’s physical address, postal address, date of birth, id, and phone number.
RightBTC is a centralized cryptocurrency exchange and professional asset management service covering USDT, BTC and ETH markets.
Ripple China is the Ripple Gateway that was established in 2013 in China. The current status of this service is uncertain. The company’s website is still live.
ShapeShift was founded by Eric Voorhees in 2014. Online exchanger based in the Swiss town of Geneva. The main function is the quick conversion of bitcoin and popular altcoins with the highest possible protection of transactions. The peculiarity of the exchange is that client assets are not stored on the site itself. And this, undoubtedly, increases the security of the service, although it somewhat impoverishes the functionality. You can find more information on the ShapeShift team and the project here.
Sistemkoin is the Turkish cryptocurrency exchange offering crypto-to-fiat (Turkish Lira, US Dollar and Euro) as well as crypto-to-crypto (BTC, ETH, MISC, USDT) trading services. The exchange is operated by Orenda Yazılım A.Ş company.
Stellarport is a trading gateway to the Stellar Decentralized Exchange and wallet for handling multiple assets, including XLM. It also provides an opportunity to participate in the XLM giveaway program.
Tidex is a cryptocurrency exchange that was founded right before the crypto storm in October of 2017. To date, the reported daily trading volume extends $2 million. By different accounts, Tidex is slightly below the 50th position or 100th position in the list of the top exchanges ranked by liquidity. The exchange is known as a clear user-friendly platform with low fees and over 100 available trading pairs. Some might find it disturbing that there is too little information about the exchange team, however, there are little to no reports claiming that Tidex is a scam. In this Tidex review, we will check out the most important facts about this exchange and figure out is it safe to use Tidex and how profitable is trading on this exchange.
Tokenomy is a centralized cryptocurrency exchange based in the Singapore. Tokenomy is focused on the Asian market.