What is Ethereum?
Ethereum is the second most popular cryptocurrency in the world, and is often compared to Bitcoin.
Ethereum is blockchain software that runs on a decentralized network of computers, similar to Bitcoin. However, Ethereum's aim is to enable a wide range of applications, whereas Bitcoin's aim is to enable point-to-point money movement.
On Ethereum, developers can create digital products (i.e. NFTs) and mini-programs (i.e. 'smart contracts') which enable new ways for individuals to engage with crypto. The ultimate promise of Ethereum is that it becomes a decentralized version of MacOS or Microsoft Windows - that is, a computer that runs software applications for users around the world.
The crypto that powers the Ethereum blockchain is called ether (symbol: ETH). As of 08/02/22, Ethereum's market cap is $200B.
This material is for informational purposes only and should not be construed as financial, legal, or tax advice. You should consult your own financial, legal, and tax advisors before engaging in any transaction. Information, including hypothetical projections of finances, may not take into account taxes, commissions, or other factors which may significantly affect potential outcomes. This material should not be considered an offer or recommendation to buy or sell a security. While information and sources are believed to be accurate, UNest does not guarantee the accuracy or completeness of any information or source provided herein and is under no obligation to update this information.
Don't just take our word for it
Hear what trusted money experts say about why UTMA and UGMA accounts can be a smart way to invest for a child’s future.
There are some tax advantages to using UGMA and UTMA accounts… Since they’re in your child’s name, the accounts will be taxed according to their tax bracket… There are no contribution limits on UGMA and UTMA accounts.
Dave Ramsey
Personal Finance Expert
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Investing for your kid’s future
Dave Ramsey
Personal Finance Expert
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...you could consider opening an account where you can dive deeper with the kids by your side. The easiest way to do so is to open a custodial account, known as an UGMA ... or UTMA ... account.
Jill Schlesinger
Emmy winning Business Analyst
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Straightforward “starter” investing account for kids
JILL SCHLESINGER
Emmy winning Business Analyst
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You can give children money that can accumulate somewhat tax-free over time... I love them (UTMAs) because they were like, trusts that you didn't need lawyers to create.... I think it's one of the better tax breaks around though. I know hunting for tax breaks may not sound very exciting, but that's how you take care of your family.
Jim Cramer
CNBC Host
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Give children money that can accumulate over time
Jim Cramer
CNBC Host
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