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A Completely Underrated Method of Using Ethereum

 It’s 2022 now and we’ve seen cryptocurrencies prove that they are here to stay. Bitcoin (BTC), for one, is doing well enough that it’s been beating its past all-time highs. One competitor stands out though, and Ethereum (ETH) is showing itself to be just as useful as its older brother.


Cryptocurrencies are slowly being adopted by different companies, agencies, and even countries. As cryptocurrencies become more ingrained into our society, people are starting to appreciate them as more than just investment tools. After all, they were designed to do so much more than that. Before we talk about where to buy Ethereum, let’s first take a look at what Ethereum is to get a better understanding. 

What is Ethereum

In technical terms, Ethereum is a blockchain-based software platform that is decentralized and open-source. What this allows them to do is to accept Smart Contracts and Distributed Applications (DApps), securely and efficiently. 

Let’s talk about Smart Contracts. These are contracts that include the buyer and seller’s agreement into the code directly. This means that if one party doesn’t fulfill their end of the deal, the transaction isn’t allowed to continue. This is what gives users peace of mind when transacting with Ethereum. 

DApps, on the other hand, are useful apps that work over Ethereum’s blockchain as opposed to traditional methods. The advantage here is that since the blockchain is decentralized, no singular agency is in control of the whole network.

Common uses of Ethereum

Now that we’ve discussed what Ethereum is, let’s take a look at how it’s currently being used.  Given what we know about them, Smart Contracts and DApps give Ethereum an edge when compared to its competitors. 

One of the most popular applications of Ethereum is with NFTs (non-fungible tokens), something we’re sure you’ve heard of. Over the past two years, they’ve gained popularity thanks to the fact that a lot of players made decent money just by playing games like Axie Infinity. These NFTs operate on the blockchain meaning it gets the same benefits as anything else operating over Ethereum.

Meanwhile, DApps have gained a following of software developers thanks to the fact that they are in full control of their products. The Ethereum blockchain allows developers both old and new to adapt to the crypto space by making tools and codes accessible and compatible.

How ETH can be used for remittances on Paxful

What a lot of people don’t realize is that ETH has become a great way for people to send money over to their loved ones overseas. Think about it: with fewer financial agencies involved, transfers can happen quicker and with fewer fees.

Now, let’s talk about what you need to do to be able to transfer money using cryptocurrencies. Paxful is a P2P platform that has no fees for buying cryptocurrencies, making it a great option. 

Step 1: Create an account with Paxful and buy ETH

First, both the sender and the receiver will need an account on Paxful. Most steps will be facilitated through this platform, including the conversion of fiat money and the transfer of cryptocurrencies.

The main benefit here is that Paxful gives you a free crypto wallet when you first sign up. More perks are unlocked if you choose to first verify your account. As a plus, there are almost 400 accepted payment methods available on Paxful. This makes it easy to find an offer that fits your requirements. 

Step 2: Recipient sends their wallet address to the sender

The receiver will need to find out what their wallet address is. This will look like a series of jumbled-up letters and numbers. You can expect them to look something like this:


Alternatively, you can use your wallet’s QR code. You can use this QR code publicly if you want, say if you are expecting Ethereum from multiple sources. You should let the sender know once you’ve found your address and/or QR code. Send this address and make sure that you’ve inputted it correctly.  

Step 3: Sender transfers ETH to the recipient

The sender should then copy the recipient's address as it is stated or use the QR code they provided. Remember that it is almost impossible to reverse a cryptocurrency transaction, so make sure to double-check the amount of ETH you want to send as well as the address. 

Step 4: Recipient sells ETH for their preferred currency

The recipient’s job now is to convert the cryptocurrency into fiat money by selling it on the market. Now, just like with buying ETH, you have the advantage of almost 400 payment methods which makes it a lot more convenient, helping you convert your crypto into money you can use, be it USD or online credit.

Utilizing Ethereum’s advantage

Blockchain technology is quickly making a name for itself with all the development we’ve seen. With everything that’s been made available to us, it seems odd to not use them for what they’re made for as if we’re missing out. What’s important now is to make sure you keep yourself updated by doing your own research—this way, you’re always sure of what your next step should be.

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