Where and how to buy Ethereum Classic in Panama
Step-by-step guide
Step 1: Create a Bitget account.
Step 2: Complete Bitget's identity verification.
Step 3: Place a Ethereum Classic order through any of the various payment options provided.
Credit/Debit in the Buy Crypto tab of the Bitget app
Credit/Debit in the Buy Crypto tab of the Bitget website
Add a new card to complete your payment on the Bitget app
Enter your bank card details to complete your payment on the Bitget website
Step 4:Monitor Ethereum Classic in your Bitget spot account
Alternative methods to obtain Ethereum Classic in Panama
Convert crypto to Ethereum Classic with Bitget Convert
Swap on-chain assets to Ethereum Classic with Bitget Swap
Methods to obtain Ethereum Classic for free
Buy other cryptos
Buy Ethereum Classic in a different country
How to buy Ethereum Classic in other countries?
What can you do with Ethereum Classic?
Store/Hold Ethereum Classic
Many users hold on to their Ethereum Classic with the expectation of it increasing in value. You can store your ETC safely on your Bitget account or on our crypto wallet app BG Wallet, the most user-friendly and secure mobile wallet.
Trade Ethereum Classic
You can trade Ethereum Classic for 150+ cryptocurrencies on Bitget’s industry-leading, fast, and secure trading platform. Bitget offers many trading pairs for Ethereum Classic trading to meet your needs.
Send Ethereum Classic
Yes, Bitget allows you to easily transfer value around the world, fast. You can buy Ethereum Classic online and send to anyone and anywhere with their Ethereum Classic address.
Spend Ethereum Classic
You can also buy goods and services with your Ethereum Classic. More and more vendors and retailers accept Ethereum Classic every day.
Donate Ethereum Classic
Bitget Charity accepts Ethereum Classic donations for global projects that aim to improve the lives of people in the bottom billion. You can donate Ethereum Classic so no one misses out on the growth made possible by blockchain.
Learn More About Ethereum Classic
You can read more in-depth articles on Ethereum Classic from Bitget Research and study how cryptocurrencies like Ethereum Classic work on Bitget Academy
Market stats to assist in determining optimal times for purchasing Ethereum Classic
What is Ethereum Classic (ETC)?
A major exploitation happened on the Ethereum blockchain in 2016, resulting in a loss of 3.6 million ETH, which amounted to roughly USD 60 million that year and might cost billions of USD today. The hack caused massive repercussions in the whole crypto industry: investors were panicked and sold off, while crypto-critics were putting blockchain on full blast and Ethereum developers were scurrying to find a way to solve the problem since they had only 28 days before the hackers could completely cash out the 5% total supply of ETH in circulation that were stolen.
Then came a solution: reverting the Ethereum blockchain to before the hack happened, so that those who were affected by the exploit got to keep their money and everything went on as if the unfortunate event had never happened. The solution was approved by the majority of voter-miners and was endorsed by Vitalik Buterin, the creator of the chain. Therefore, Ethereum was reversed and the hack did not exist on the new hard fork, which has then become the main Ethereum, while the original chain that still contains the theft has then been called Ethereum Classic.
Ethereum Classic, despite being less popular than its brother, is supported by many who have the mentality “Code is King” and think that the immutability of blockchain needs to be maintained at all costs. Ethereum Classic supporters consider the reverse of the exploit goes against what blockchain stands for and compromises the quintessential security of the technology. Security is also the very reason why they choose to stick with PoW after Ethereum moves to PoS. On the Ethereum Classic website, the developers claim that PoW is more secure because they have a 50% fault tolerance while it takes only a 33% fault tolerance to influence a PoS network. That being said, Ethereum Classic suffered multiple 51% attacks in 2019 and 2020.
How Ethereum Classic (ETC) Works
Ethereum Classic and Ethereum are technically identical until block number 1,920,000, which is the block where the theft was recorded. As Ethereum transitions from PoW to PoS, Ethereum Classics, originally, was planned to support PoS like Ethereum too. But after a few updates and debates, the developers of Ethereum Classic decided to stay with PoW, compromising speed and scalability for security. The team admits that Ethereum Classic is “conservatively run”, committed to the purist’s ideas of blockchain. Though the majority of Ethereum Classic is similar to Ethereum pre-Merge, the significant differences are:
- Prioritization of integrity and security over speed and scalability
- Full replication of data rather than fragmentation of data in Ethereum
- The token of Ethereum Classic, ETC, having a hard cap, unlike Ethereum’s ETH, to ensure property rights of holders
The PoW consensus mechanism that Ethereum Classic adopts is criticized by many to consume too much energy and be too slow to process daily transactions. Yet, the supporters rebuke with the claim that PoW enables the network to be much safer, and therefore, it is ideal to be used as a layer 1 to process bulks of transactions and Ethereum can be used as a layer 2 to group together transactions to send to Ethereum Classic.
How Many ETC Tokens Are There in Circulation?
Different from ETH which does not have a predetermined total supply, ETC has a total supply of 210,700,000. The hard cap of ETC was voted on 5 months after its launch. At the moment, the circulating supply of ETC is 137,012,968.83.
ETC block rewards for miners decrease over time. Since April 2022, the reward for mining one Ethereum Classic block is 2.56 ETC.
How to Buy Ethereum Classic (ETC)
Consider investing in Ethereum Classic (ETC)? It only takes 2 minutes to create an account on Bitget and start trading ETC.
Check out the available ETC trading pairs on Bitget!
Futures market
Spot market
Ethereum Classic Resources
Buy Ethereum Classic in Panama with Bitget
How to safely store your Ethereum Classic
- Sign up and transfer ETC to your Bitget account.
- Alternatively, use Bitget Wallet as a self-custody solution for your ETC.
How to withdraw Ethereum Classic with Bitget's hassle-free withdrawal process
A transcontinental country spanning the southern edge of North America and the northern tip of South America, the Republic of Panama shares its borders with the neighboring countries of Colombia and Costa Rica, with the Pacific Ocean running along its southern side and the Caribbean Sea to the north. Considered a high-income economy, canal tolls make up a large portion of Panama’s GDP, although its commerce, banking, and tourism industries are growing significantly in recent years.
Sitting at the heart of the country is Panama City, its capital and largest city that serves as home to almost half of the country’s four million in population. As one of the most popular tourist destinations in the Western Hemisphere, over two million people visit this city every year, generating an income upwards of US$1.3 billion annually. While in Panama City, you’ll be able to check out the more modern parts of the bustling city while reconnecting with some of its historic roots through visiting Panamá Viejo, the city’s old town district. For nature lovers, the country also has a lot to offer, from the tropical islands of Bocas Del Toro to the national parks of Volcan Baru, Soberania, and Barro Colorado.
The official currency of Panama is the Balboa (PAB), although USD is also widely used there, and you can purchase Ethereum Classic(ETC) in just a matter of minutes, no matter where you are in the country, from Panama City and Colon to David and San Miguelito. Our exchange offers a series of secure payment options to make trading easier for you, including P2P trading, crypto deposits, and other third-party merchants such as Apple Pay, Google Pay, and different credit card services.
ETC to local currency
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