Ethereum is a decentralized, programmable network that lets people move value and run code without a central authority. It powers smart contracts, tokens, stablecoins, and thousands of applications. Fees are paid in ether (ETH), the native currency.

At Veldt, this matters because Ethereum makes fast, verifiable crypto payments possible. In fact, we accept ETH at checkout—along with BTC, LTC, DOGE, USDT, USDC, XMR, and XRP—for a smooth, modern bullion-buying experience.

What Is Ethereum? The Basics

Think of Ethereum as a global computer that anyone can use. Instead of a single company’s servers, it runs on thousands of nodes. When you submit a transaction (for example, sending ETH or interacting with a smart contract), the network processes it and records the result on a shared ledger.

• Native asset: ETH
• Why ETH exists: to pay for computation (“gas”), secure the chain, and align incentives
• What you can do: send payments, mint NFTs, use stablecoins, trade, borrow, lend, and more—without bank hours or gatekeepers

How Ethereum Works: Accounts, Transactions, And Gas

Every action on Ethereum costs gas, a fee paid in ETH. Gas keeps the network healthy by preventing spam and rewarding validators who secure the chain. The price you pay depends on network demand and the complexity of what you’re doing.

ETH, Gas, And Gwei

• ETH: the currency you hold
• Gwei: a tiny unit of ETH used to price gas (1 ETH = 1,000,000,000 gwei)
• Tip: When fees spike, consider transacting during off-peak times or using a Layer 2 network.

Smart Contracts

Smart contracts are programs on the blockchain that run exactly as written. They can hold funds, enforce rules, and trigger actions—no manual approval needed.

Tokens And Standards

• ERC-20: fungible tokens (many stablecoins use this)
• ERC-721: NFTs (unique items)
• ERC-1155: mixed standard for both fungible and non-fungible items

Ethereum Today: Proof-Of-Stake, Validators, And Staking

Ethereum now uses Proof-of-Stake (PoS), where validators lock up ETH (“stake”) to propose and attest to blocks. PoS reduces energy usage and enables upgrades that improve throughput over time. Users can stake directly, stake through a provider, or use liquid staking tokens—each with different risks and trade-offs.

Why Layer 2s Matter

To lower fees and speed up transactions, Ethereum supports Layer 2 (L2) networks—often called rollups. They process transactions off the main chain and settle results back to Ethereum for security. For everyday payments or frequent on-chain activity, L2s can be faster and cheaper while still benefiting from Ethereum’s security model.

Common Uses Of Ethereum In 2025

• Stablecoin Payments: Many buyers value dollar-denominated tokens for predictable purchasing power.
• DeFi & Trading: On-chain exchanges, lending, and yield strategies (with risk).
• NFTs & Gaming: Digital ownership and in-game assets.
• Business Workflows: Invoices, escrow, and automated agreements via smart contracts.

Buying Precious Metals With Ethereum At Veldt

You can buy gold with Ethereum at Veldt in a few quick steps:

• Choose Your Products: Add coins, bars, or rounds to cart.
• Select Ethereum At Checkout: Confirm the order total and see the exact ETH amount, including any network fees.
• Open Your Wallet: Use your preferred wallet (self-custody or hardware wallet recommended).
• Send The Exact Amount: Copy/paste the address and amount. Double-check the chain (mainnet vs Layer 2) before sending.
• Wait For Confirmation: Your order status updates as the payment confirms on-chain.
• Fulfillment: We ship discreetly and insured, or you can pick up at our San Diego office. (See Shipping & Receiving Metals Safely.)

Quick Checklist For A Smooth ETH Payment

• Confirm you’re on the correct network (Ethereum mainnet or the supported L2).
• Check gas fees; consider sending during lower-traffic times.
• Use a wallet with strong security and clear labeling for purchases.
• Send the exact amount shown at checkout—no rounding.
• Keep your transaction hash for reference.

Risks, Fees, And Best Practices

• Private Keys: Never share seed phrases. Prefer hardware wallets for larger purchases.
• Network Fees: Fees vary; review before you press send.
• Contract Interactions: Only approve trusted sites. Revoke stale approvals periodically.
• Phishing: Verify URLs and addresses carefully. Bookmark Veldt’s checkout domain.
• Compliance: We follow applicable KYC/AML requirements.

Key Takeaways

• What Is Ethereum? A programmable blockchain where value and code run together.
• ETH And Gas: You pay in ETH (priced in gwei) for computation and security.
• Smart Contracts & Tokens: Standards like ERC-20 and ERC-721 power payments and digital assets.
• Proof-Of-Stake & L2s: Today’s Ethereum is energy-efficient and increasingly scalable.
• Use At Veldt: You can buy gold with Ethereum—quickly, securely, and with clear fees.