What is Dether (DTH) Crypto Beginner’s Guide
When Ethereum came on to the cryptocurrency scene it had a mission in mind. The developer of Ethereum, Vitalik Buterin, intended for the altcoin to act as a trustless, decentralized and revolutionized network. This cryptocurrency also gave a platform for others to build on in the cryptocurrency market.
But it wasn’t his only intention, the cryptocurrency was also intended to be another digital currency called Ether. Ethereum gave cryptocurrency users a way to interact with blockchains through Dapps (distributed applications) and smart contracts. This allowed for a way for people to bypass third parties, censorship, and fraud. Essentially, Ethereum and Bitcoin gave people financial freedom.
Ethereum allows people to build on top of its blockchains thus producing innovative projects for various industries and solutions to some of the world’s problems. The blockchain also allows for a trustless society and networks to develop among the cryptocurrency community.
Sadly, with all the opportunity and security Ethereum offers, it is one of the harder cryptocurrencies to buy. This is especially the case for those who aren’t tech savvy or knowledgeable in cryptocurrency. There is an exchange for novice crypto traders to purchase Ether but it is very time consuming and impractical in the long run.
When it comes to buying, selling and trading cryptocurrency, every second counts. Time is money in this case. Cryptocurrency markets fluctuate in a similar fashion to the stock market. This means waiting five days just for your fiat payment to go through and receive Eher can dash your hopes when the value drops.
This is where the developers of Dether have made it a goal to change this time-consuming process so that more people can take part in the massive cryptocurrency exchange freely.
Dether: Turning Ethereum into Cash Using Only Your Smartphone
Dether is a smartphone application that allows people to become an Ether ATM and exchange fiat currency freely for Ether within a peer-to-peer network. It was created to bypass the long process of registering, making a deposit in fiat currency, and then wait for verification. All of this process would take people days, if not weeks to complete.
The second goal was to eliminate the need for centralized control that often plagues the various cryptocurrency exchanges. By eliminating the complex buying process for Ether it would allow for more people to take part in Ether exchanges and any other project that utilizes the Ethereum blockchain.
How Does Dether Work?
The mobile Dether app is simple to use. All you will need to do is download the app on any smartphone device and make an account. Once you have a confirmed account, you can look on your local Dether map for either an Ether teller or someone who is looking to exchange Ether for a fiat currency. You will be able to make all exchanges through the Dether wallet.
Another benefit of the Dether map function is it will also provide listings of all nearby merchants and stores that are willing to accept Ether as a form of payment.
Each buyer and seller comes with a rating so that people can see who is reliable and who should be avoided for Ether exchanges.
Final Thoughts on Dether (DTH)
Dether offers both novice and expert cryptocurrency users a simplified process for purchasing Ether with fiat currency. This app can benefit users who live in countries that suffer rapid inflation in relation to the United States dollar. Examples of countries who suffer serious hyperinflation would be the Vietnamese dong, Venezuelan bolivar, Iranian rial, and so on.
In essence, the Dether app will free people from the constraints of unstable fiat currency. Dether would be able to give people a secure way to store savings, a secure way to buy from Ether accepting merchants, and more!