What is Ethereum Classic (ETC)?
Irene avatar
Written by Irene
Updated over a week ago

Ethereum Classic (ETC) is a hard fork of Ethereum (ETH). It was launched to preserve the integrity of the original Ethereum blockchain after a major hacking event led to a reversal of harmful transactions on the ETH blockchain in 2016.

ETC is a not-for-profit project with no official team attached to it and in fact, its “global development community is a permissionless 'do-ocracy,' where anyone can participate”. Like ETH, ETC is proof-of-work but has no plans to switch to proof-of-stake. It also has a maximum supply capped at 210,700,000 ETC (roughly 10x that of BTC).

Check out this article to choose the most convenient way to buy cryptocurrencies, including ETC.

Important: please note that ETC deposits and withdrawals are currently not supported. You can buy, exchange and store ETC. If you'd like to receive or send it, you'll have to first exchange it for a currency which supports crypto deposits and withdrawals – you can always check with the list in this article.

In compliance with the Financial Promotion Act which came into force on 8 October, 2023, at 8 AM UTC, some account functionality is temporarily limited for the Cryptopay customers with verified UK residency.
Check what services are available: Service availability in the UK

The world of crypto is vast and intricate - if you feel overwhelmed, check out Cryptopay Learn. It is a perfect place to start for beginners trying to understand the basics of crypto. For more experienced crypto enthusiasts, this is also an excellent opportunity to brush up on their knowledge. The more you learn, the more you earn!

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