You Are Going to Need Ether for Coinbase Wallet

In order to use most crypto apps and access many cryptos, which you can do via Coinbase Wallet, you need Ether (ETH).

Since you will need ETH to participate in large chunks of what crypto has to offer for the foreseeable future, since you will need it to make any use out of Coinbase Wallet (not to be confused with “Coinbase Consumer“), and since ETH prices are still low relative to mid-2017 – 2018, it might make sense to make sure you have some ETH before market conditions change.

Sure, ETH could plummet in price and sink back down to early 2017 levels or lower, but it could also simply continue up from here.

The reality is cryptocurrency is an incredibly volatile asset. However, this page isn’t about investing, it is about utility.

I have no crystal ball to tell me if ETH is going up, down, or sideways. That part is unclear.

What isn’t unclear however, is that you need ETH to fully experience the Ethereum Network.

Also what isn’t unclear is that, logically speaking, if you have a little ETH with plans to get more if the price goes down, you are covered no matter what direction it goes. Meanwhile, if you wait and the price goes up, then you’ll potentially need to pay more later.

Imagine wanting to do an ICO or buy premium products on an ETH app back in January and having no ETH. Essentially you ended up having to buy ETH at $1,400 when you could have had it at $300 a few months earlier. That would have been fine if the price stayed high, but like, here we are 9 months later with $200 – $225 ETH.

My point being, since we can look at a chart and see this isn’t the highest price one has ever had to pay for ETH, and since we logically know ETH is needed to get the full experience out of the Ethereum network, it might make sense to make sure you don’t have zero ETH if you think you might want to be a part of crypto in the coming months and years.

In other words, putting aside prices from early 2017 and before, and putting aside risks (risks that prices will go down, risks that Ethereum won’t be around, etc), when it comes to being a part of crypto for the future, it makes sense to have at least a little ETH… and the only way to accomplish that is buy buying some, mining some, or trading goods and services for some.

Having ETH means being a part of a large chunk of the crypto ecosystem, not having it means being cut off.

ETH isn’t just a widget that doubles as an investment, it is a utility token for DApps on the Ethereum Network.

Want to play a game on Ethereum network? You are probably going to need ETH (or you need to exchange ETH for another Ethereum-based token). Want to buy into an ICO? Chances are you need ETH. Want to buy a token at a low that just did its ICO? Chances are you need ETH. Etc.

The list goes on.

Every day more and more DApps are coming out and every day it gets easier and easier to access them.

Coinbase Wallet means the entire Ethereum ecosystem is only a few clicks away, but to HODL or trade most of the coins on that system and to fully utilize most of the apps on that network… you are going to need a little ETH.

Moral of the story, you might want to avoid waiting until everyone is stoked over crypto again and playing with that killer DApp of the future, and instead get yourself setup before if and when that all happens.

To get yourself setup:

  1. Obtain ETH.
  2. Download Coinbase Wallet.
  3. Send ETH to Coinbase Wallet.
  4. Click the DApp button and enter the rabbit hole of DApps.

NOTE: Not every DApp uses ETH or gas (ETH paid as a fee). Thus, although generally speaking you need ETH for many DApps, you can always download Coinbase wallet and play around with DApps regardless of if you have ETH or not.

NOTE: You can apply the same logic to some of the other top DApp / ICO platforms like EOS, TRON, and NEO. Hard to say which will be the winner of the future if any, but for now Ethereum is the winner of the present. Since it is the winner of the present, it has the most developers working on it… which means it is a likely candidate for network on which the best ICOs and DApps of tomorrow live.

Bottomline: DApps and ICOs are a thing, if you want to have access to them, you essentially need the corresponding token. For Ethereum DApps and ICOs, you need ETH. ETH is cheap right now compared to half of 2017 – 2018 (but expensive compared to early 2017 and earlier). What you do with that information is up to you, but Coinbase Wallet is free, so why not download it and check it out.

Author: Thomas DeMichele

Thomas DeMichele has been working in the cryptocurrency information space since 2015 when was created. He has contributed to MakerDAO, Alpha Bot (the number one crypto bot on Discord),...

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