Ethereum is a decentralized, Layer 1 blockchain platform that allows developers to build and deploy dApps and smart contracts. In addition, since the Ethereum network is a fully decentralized public ledger, accounts can store digital assets such as cryptocurrency or NFTs. It works by using a network of computers to verify and validate transactions on the blockchain, and it uses its native cryptocurrency, ETH, as a means of payment for these transactions.
Ethereum and Bitcoin are decentralized blockchain platforms but have different features and use cases. Ethereum is designed for building and deploying decentralized applications, while Bitcoin is primarily used as a store of value or medium of exchange. Both cryptocurrencies have advantages and disadvantages, and buying either depends on your portfolio goals and risk tolerance.
OKX provides a multi-chain OKX Web3 Wallet with all OKX accounts that allows you to fully self-custody your tokens. You can store ETH or any other cryptocurrency for as long as needed. In addition, the OKX Web3 Wallet offers inbuilt access to hundreds of decentralized applications (dApps) and the OKX NFT Marketplace.