Ethereum, the cryptocurrency used to fuel most NFT transactions, is now supported for all Redeeem users. Deposit ethereum from an external wallet, or swap it for bitcoin, litecoin, USD Coin or Tether (USDT) within Redeeem's platform.
With recent news that the London update will make mining ethereum significantly more difficult, the crypto asset will likely see an increase in value, as more ether will start being burned.
In an interview with Bloomberg, Ethereum founder Vitalik Buterin said the fork could lower its carbon emissions by 99%. London is "proof that the ethereum ecosystem is able to make significant changes," he explained.
Ethereum is currently the most actively used blockchain, and the second-largest cryptocurrency by market capitalization at $365 billion, compared to Bitcoin at $861 billion. Learn more.
As Redeeem expands its wallet integrations, we felt Ethereum (ERC-20) was the most sensible next step, given the increasing importance of NFTs. Users can begin swapping or adding ethereum to their wallets.
Redeeem uses CoinPayments and other API integrations to help users create free wallet addresses on the blockchain and make peer-to-peer trades with anyone around the world for a low 1% fee.