One of the Best Proxies for Ethereum Trading

Why Do You Need Proxies for Trading Ethereum?

Proxies for Ethereum trading offer a variety of benefits for users, but before we get to it, what is Ethereum trading? More specifically, what is Ethereum itself? Have a read below to find out.

What Is Ethereum?

As of October 2021, Ethereum ranked second in terms of total size, coming behind Bitcoin, the coin that is synonymous with crypto, and began the whole public ledger revolution. A brainchild of eight co-founders, Ethereum is among thousands of cryptocurrencies that have emerged in the last couple of years. Having made its debut in 2015, the platform is known as Ethereum, whereas the unit is called ether.

One of the most significant benefits of Ethereum and cryptocurrencies, in general, is that users can exchange money without the need for an intermediary, such as a bank. Furthermore, Ethereum transactions are almost anonymous, which is a great plus for users that want to keep their identity secret online.

So, how does Ethereum work? The cryptocurrency works on a decentralized network or a distributed ledger, otherwise known as a blockchain. This ledger is responsible for all the transactions and their authenticity with computers in the network that check and verify every transaction.

How Do You Trade Ethereum?

Ethereum is one of the top three cryptos with a market cap of $560 billion as of November 2021. This makes it a lucrative investment opportunity for business-minded individuals. In fact, most people argue that Ethereum is more promising than Bitcoin. Coupled with the fact that several Fortune 500 companies back it, it is no secret that Ethereum’s future is nothing but bright. Let’s not forget that multiple financial institutions and governments have recently embraced crypto.

Above are some of the reasons why you need to invest in Ethereum by trading, and here is how you go about it. 

• Identify a trading platform

Several credible trading platforms are available to users, including Coinbase, Bitstamp, Gemini, and Binance. 

• Create an account

Once you have found a trading platform that satisfies your needs, the next step is to create an account. 

• Deposit currency

This is relatively straightforward as you need only verify your payment option for fiat currency. However, depositing can be a tad complicated for cryptos since you will need to send the coins by code from one location to another. 

• Begin Trading

Once you have completed all the processes above, it is now time to trade. Each platform has a somewhat different trading interface, but all you need to do is verify the transaction and allow for processing time.

• Withdraw ETH into a wallet

Once you have purchased ETH, you can transfer the funds to your cryptocurrency wallet. 

Best Proxies for Ethereum Trading

There are several reasons you may need a bot for Ethereum trading, and the first and arguably most important is security. A proxy will mask your IP address and ensure your browsing history is private and safe from prying eyes.

Furthermore, you may reside in a region where the preferred trading platform is not supported. Proxies come in handy in such situations and mask your IP address offering another one from a supported area. Lastly, proxies are an absolute necessity for users implementing trading bots. This is because a bot requires an IP address from a rotating proxy pool to look more authentic. 

Your choice of proxy will depend on your needs, but residential and datacenter proxies should both work just fine. However, you need to be careful with the provider you opt for since its reliability will translate to the effectiveness of the proxy you are using.

You should opt for reliable premium proxy providers such as IPRoyal who put your anonymity and the safety of your data first. This is particularly important when dealing with financial information, so free public proxies are out of the question. IPRoyal is your go-to service for all your proxy-related needs with a robust worldwide IP pool and solutions created with uncompromising security in mind.