Convert
Malaysian Ringgit (MYR) to Ethereum Classic (ETC) Instantly
Purchase Ethereum Classic (ETC) with Malaysian Ringgit (MYR) 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 exactly is the MYR/ETC trading pair and how does it function on a cryptocurrency exchange?
The MYR/ETC pair represents a direct fiat on-ramp allowing you to purchase Ethereum Classic (ETC), a digital asset, using Malaysian Ringgit (MYR). On an exchange, this pair's price indicates how much MYR is needed to buy one ETC. This allows users to directly enter the Ethereum Classic ecosystem, which maintains the original, immutable Ethereum blockchain secured by a Proof-of-Work consensus mechanism, without first needing to buy another cryptocurrency. -
What payment methods are typically used to buy ETC with MYR on regulated platforms?
On Malaysian-regulated cryptocurrency exchanges, the most common fiat gateway for MYR deposits is online bank transfer via FPX (Financial Process Exchange). This method offers a secure and direct way to fund your trading account. After completing KYC/AML compliance checks, you can deposit MYR and place an order on the MYR/ETC order book to acquire your Ethereum Classic coins. -
Why might a user choose Ethereum Classic (ETC) over Ethereum (ETH) for a MYR investment?
A user might choose ETC for its philosophical commitment to immutability and the 'code is law' principle, as it's the original Ethereum chain that did not reverse the DAO hack. Technically, ETC maintains a Proof-of-Work (PoW) consensus via the Ethash algorithm, appealing to those who value its proven security model. Furthermore, ETC has a fixed supply policy (ECIP-1017), which introduces digital scarcity, a feature often compared to Bitcoin's economic model and a key differentiator from ETH's variable supply. -
What are the typical fees associated with a MYR to ETC blockchain transaction?
When converting MYR to ETC, there are two main types of fees. First, the cryptocurrency exchange will charge a trading fee, often a small percentage of the transaction value. Second, when you withdraw your ETC to a private digital wallet, you must pay a blockchain network fee, known as 'gas'. This gas fee compensates the Proof-of-Work miners who validate your transaction and secure the Ethereum Classic network. Its cost fluctuates based on network congestion. -
How can I securely store my Ethereum Classic after a purchase with MYR?
For optimal security, it's recommended to move your ETC from the exchange's custodial wallet to a non-custodial digital wallet where you control the private keys. Options include hardware wallets (cold storage) for the highest level of security against online threats, or reputable software wallets (hot storage) for easier access to DApps on the Ethereum Classic network. Always back up your seed phrase and store it in a secure, offline location.