Convert
Israeli New Shekel (ILS) to Ethereum Classic (ETC) Instantly
Purchase Ethereum Classic (ETC) with Israeli New Shekel (ILS) easily at Switchere and benefit from fast, secure transactions.
About
Ethereum Classic (ETC)
Ethereum Classic (ETC) is the continuation of the original Ethereum blockchain, steadfastly upholding the principle of immutability following the 2016 DAO hack, which led to the network split. This decentralized network maintains its commitment to a Proof-of-Work (PoW) consensus mechanism, currently utilizing the Etchash algorithm, to ensure robust cryptographic security and validate transactions on its digital ledger. As a foundational smart contract platform, Ethereum Classic supports the development and execution of decentralized applications (dApps), providing a permissionless environment for developers to build a wide array of on-chain solutions and leverage its Turing-complete virtual machine. The native ETC token is essential for the ecosystem, primarily serving as gas to pay for transaction fees and computational resources required for smart contract operations and peer-to-peer transfers within this Web3 infrastructure.
Beyond its utility for network operations, ETC's tokenomics are designed with a fixed supply cap, established through ECIP-1017, aiming to position it as a sound digital asset with deflationary characteristics over time, differentiating it from Ethereum's (ETH) evolving monetary policy. Ethereum Classic continues to champion the "code is law" philosophy, offering a resilient and censorship-resistant platform for various DeFi applications and digital assets. It represents an important alternative within the broader blockchain technology landscape for users and developers who prioritize unwavering chain integrity and the proven security model of Proof-of-Work for their decentralized solutions and cryptographic security needs, standing as a testament to on-chain persistence.
How to Buy Ethereum Classic (ETC)
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Frequently asked questions
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What is the ILS/ETC trading pair and why is it important for investors in Israel?
The ILS/ETC trading pair represents the direct exchange rate between the Israeli New Shekel (ILS) and Ethereum Classic (ETC). Its importance lies in providing a direct fiat on-ramp for Israeli investors to acquire ETC, the original Ethereum blockchain. This allows them to access a platform committed to immutability and the "Code is Law" philosophy, which operates on a secure Proof-of-Work (PoW) consensus mechanism and has a fixed monetary policy, distinguishing it from other smart contract platforms. -
What are the typical steps to buy Ethereum Classic (ETC) using Israeli Shekels (ILS)?
To buy ETC with ILS, you typically need to use a cryptocurrency exchange that accepts ILS deposits. The process involves creating an account, completing mandatory KYC/AML compliance checks, and then funding your account via an Israeli bank transfer or a debit/credit card. Once your account has an ILS balance, you can place an order for the ILS/ETC pair on the exchange's order book to purchase the digital asset. -
What technical advantages does Ethereum Classic's Proof-of-Work system offer?
Ethereum Classic's commitment to a Proof-of-Work (PoW) consensus mechanism, specifically the Etchash algorithm, provides a high level of decentralized security and censorship resistance. Unlike Proof-of-Stake systems, PoW relies on computational work from miners, which has a proven track record of securing major blockchains. This adherence to the original PoW model post-DAO hard fork underscores its core principle of immutability for smart contracts and blockchain transactions. -
What types of fees are involved when transacting the ILS to ETC pair?
When converting ILS to ETC, you'll encounter several fees. First, there may be a deposit fee for your ILS transfer from an Israeli bank. Second, the cryptocurrency exchange will charge a trading fee (often a maker/taker fee) for executing the purchase. Finally, when you withdraw your ETC to a private, secure wallet, you will pay a network transaction fee, or 'gas,' which compensates the ETC miners who validate the transaction on the blockchain. -
How should I securely store my Ethereum Classic (ETC) after buying it?
After acquiring ETC, the most secure practice is to transfer it from the exchange to a non-custodial wallet where you control the private keys. Options include hardware wallets (cold storage) for maximum security or reputable software wallets (hot storage). This prevents loss of your digital asset in case of an exchange hack. Always back up your wallet's seed phrase offline and never share it, as it grants full access to your ETC.