Ethereum Name Service
About Ethereum Name Service
Ethereum Name Service (ENS) is a protocol that creates human-readable names for blockchain addresses. Instead of long wallet strings, users can send funds to simple names like “alice.eth.”
In the last hour, Ethereum Name Service's price has seen a change of -0.34%, and over the past 24 hours, its price has moved by -1.30%. Over the previous week, Ethereum Name Service's price has moved by +11.51%. The current price of Ethereum Name Service is SAR 26.23, accompanied by a trading volume of 57.35M in the last day. Ethereum Name Service's price is currently 91.84% below its all-time high of SAR 321.57, which remains the highest price Ethereum Name Service has achieved since its launch. The circulating supply of Ethereum Name Service stands at 42.18M, translating to a total market capitalization of 1.106B.
Market stats
Frequently asked questions
What is Ethereum Name Service (ENS)?
Ethereum Name Service (ENS) is a decentralized protocol that allows users to create simple, human-readable domain names for cryptocurrency wallets and other network resources, such as decentralized applications (dApps), smart contracts, and websites. Just as the Domain Name System (DNS) links scannable website domains (such as Facebook.com) to IP addresses, the ENS secures and translates human-readable identifiers, such as dYdX.eth, into complex blockchain addresses, such as 42-character Ethereum wallet addresses (ETH) consisting of 42 characters. ENS domain users can link their domains to multiple blockchain addresses, create subdomains, and trade their ENS domains whenever they choose.
How does the Ethereum Name Service (Ethereum Name Service) work?
The Ethereum Name Service (ENS) relies on smart contracts that convert long and complex Ethereum addresses into human-readable names such as (name.eth), making it easier to send and manage assets and reducing address entry errors. The protocol’s architecture consists of two contracts: the Registry contract, which maintains the domain registry and identifies the owner of each domain, and the Resolver contract, which is responsible for processing records and sets the Time-to-Live (TTL). When a request is made for an address associated with a specific name, the Resolver communicates with the Registry to determine the appropriate resolution and then retrieves the address or requested data. The protocol operates on a hierarchical system that allows domain owners to create subdomains, such as (wallet.name.eth). Thus, the protocol provides a decentralized naming layer that links human-readable names to addresses and data on the blockchain. ENS tokens serve governance and utility purposes, used to vote on protocol decisions and manage the community treasury.
How do you buy ENS on Rain?
Buying ENS on Rain involves a few simple steps:
- Ensure you have funds in your fiat account or add your card in the payment methods section.
- Click “Trade” and select “Buy”.
- Select the cryptocurrency you wish to buy.
- Enter the amount you wish to buy in your preferred currency.
- Choose your payment method, either using a bank card or the cash balance in your fiat wallet.
- Click “Next” to review your transaction details.
- Click “Buy Now” to complete the purchase.
ENS will be added to your wallet once the transaction is executed.
At Rain, we use cold storage to keep the majority of our clients’ assets offline.
Rain is licensed by the Central Bank of Bahrain (CBB) and the Abu Dhabi Global Market Financial Services Regulatory Authority (ADGM FSRA). This provides clients with a regulated framework for trading digital assets in the region.
What are the risks and considerations
Before buying ENS, it is important to understand the associated risks:
• Price volatility risk: The currency may be subject to sharp price fluctuations.
• Technical risk: Smart contracts may be vulnerable to cyberattacks or programming errors, which could affect the currency.
• Adoption risk: The currency’s value depends on the growth of its user base, which may impact its future growth.
• Liquidity risk: Liquidity may affect the currency’s price movements.
• Legislative and regulatory risk: Legislation and regulations may affect the currency’s future and growth.
• Security risk: You must protect your account with a strong password and two-factor authentication, and choose an appropriate storage method after thoroughly researching your options.
You should not purchase ENS based solely on price predictions. Instead, you should study the whitepaper, the currency’s use cases, the project’s vision, and your risk tolerance before making any decision.
What is the ENS Protocol?
It is a decentralized naming system built on the Ethereum blockchain that links human-readable names to wallet addresses.
What are ENS tokens?
A governance token used to vote on decisions within the ENS Decentralized Autonomous Organization (DAO).
Are names generated by ENS unique?
Yes, each name is a non-fungible token (NFT) that you fully own and control.
How to invest in Ethereum Name Service?
Rain offers you a number of ways to start investing in Ethereum Name Service, including buying Ethereum Name Service through bank transfers or by using your bank card. To purchase Ethereum Name Service on Rain, you can select Ethereum Name Service in your Rain account, then click Trade and select Buy. Enter the amount you wish to buy and click Next to review and confirm your purchase.
How to buy Ethereum Name Service with card?
Once you add your bank card to your Rain account, you can use it to buy Ethereum Name Service directly. You can start by adding your card to your payment options on your Rain account. To purchase Ethereum Name Service using your bank card, you can select Ethereum Name Service, click Trade then select Buy. Enter the amount you wish to buy and choose your card from the payment options. Click Next to review and complete your purchase by following the instructions on the screen.
note: The purchase option with debit or credit card is not available for our users in Turkey
How to buy Ethereum Name Service through bank deposit?
Rain enables you to buy Ethereum Name Service using your local currency. You can deposit funds through bank transfer, a process which takes 1-4 business days depending on your location. You can start by depositing funds to your Rain account from your bank account. Simply click on Deposit and enter the amount you would like to transfer. Click next and copy the instructions that will appear on your screen to complete the transfer from your bank account. Note that Rain does not automatically pull funds from your bank account and you will need to manually transfer the funds from your bank account to Rain's banking information.
Within 1-4 business days, the funds will be available in your Rain account and you will be able to use them to complete purchasing Ethereum Name Service. To do that, you can select Ethereum Name Service in your Rain account, click Trade and select Buy. Enter the amount you wish to buy with and click Next to review and confirm your purchase.
How to sell Ethereum Name Service?
This is an easy process that requires only a few clicks. Here are the steps needed to sell Ethereum Name Service successfully:
On your Rain account, select Ethereum Name Service then click Trade and select Sell. Enter the amount you wish to sell and click Next to review and confirm your sell transaction by entering an OTP. You will receive a confirmation email once the transaction is done with the details.
How to convert Ethereum Name Service into cash?
Rain gives you the opportunity to sell Ethereum Name Service and withdraw your funds from your Rain account to your local bank account. First, you need to add your personal bank account to your Payment Methods option on your Profile.
Once your bank account is added, you can sell Ethereum Name Service and withdraw the funds to your bank account by clicking on Withdraw and entering the amount you wish to withdraw. Click Next to review and confirm your withdrawal information by entering an OTP.
Once the withdrawal request is submitted, you will receive a confirmation email that the withdrawal is being processed. Processing your withdrawal request can take between 1-4 business days.
How to receive Ethereum Name Service?
If you would like to receive Ethereum Name Service in your Rain account, simply click on Receive and select Ethereum Name Service from the list at the top of the page. You can then either copy the address visible at the botom of the screen or share the QR code to to complete your receive transaction.
Make sure that you are using the correct network when receiving Ethereum Name Service to avoid possible loss of funds.
How to send Ethereum Name Service?
You can easily send your Ethereum Name Service from your Rain account to any external wallet by clicking on Send and selecting Ethereum Name Service from the list at the top of the page. Enter the amount you wish to send and add the external wallet address you are sending to. Click Next to review and confirm your send transaction by entering an OTP.
Why buy Ethereum Name Service with Rain?
When you buy Ethereum Name Service with Rain, you ensure that your assets are going to be safely stored on a regulated platform that follows strict compliance standards and is subject to periodic audits. Rain also uses bank-grade security measures like Cold Storage systems. Trading and storing Ethereum Name Service on Rain also means that your asset is going to be stored on 1:1 basis, which means your assets will always be available to you.
What is a Ethereum Name Service wallet?
A Ethereum Name Service wallet is where you can securely store Ethereum Name Service. A wallet helps you maintain ownership of your asset as well as enable you to trade, send or receive crypto-assets.
What is a Ethereum Name Service address?
A Ethereum Name Service address is a string of unique characters that is tied to your Ethereum Name Service wallet. The address functions just like a bank account number and it is what you use in order to send Ethereum Name Service from your wallet, or to receive Ethereum Name Service to your wallet.
What trading pairs available for Ethereum Name Service?
There are over 200 currency pairs available on Rain for you to trade with. You can trade Ethereum Name Service with Bahraini dinar, Kuwaiti dinar, Emirati dirham, Omani rial or US dollar, depending on your location. Additionally, you can swap Ethereum Name Service with 200 other assets like BTC, LTC, XRP, ETH. You can explore your options by visiting the market page on your Rain account: https://www.rain.com/market
What is the minimum order size to buy Ethereum Name Service?
You can trade Ethereum Name Service with any amount above $30 or equivalent in your account's currency. You can start trading Ethereum Name Service now by clicking the Trade button on your Rain account.
What are the most popular cryptocurrencies besides Ethereum Name Service?
Besides Ethereum Name Service, you can find over 150 assets available on Rain for you to start trading such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), USDC, Ripple (XRP), DOGE, Tether (USDT), Chainlink (LINK) or BCH. You can explore these options by going to the homepage of your account and scrolling through the available assets. When you are ready to start trading, simply click on the asset of your choice and click Trade.
What blockchain is Ethereum Name Service built on?
Ethereum Name Service is built on the ETH blockchain. This determines how transactions are verified, fees are structured, and how compatible it is with wallets and other decentralized applications (dApps).
How do I keep my Ethereum Name Service safe?
To keep your Ethereum Name Service safe, make sure to use trusted wallets that support ETH. Enable two-factor authentication (2FA), store long-term assets in cold wallets, and never share your private keys with anyone. You can always refer to our Security & Policies section for more tips.
What will the price of Ethereum Name Service be in next 5 years?
Price predictions for Ethereum Name Service over the next five years are highly speculative and depend on crypto market conditions, adoption, and broader crypto trends. We encourage you to do your own research and make informed decisions.
Is trading Ethereum Name Service taxable?
Trading Ethereum Name Service may be considered taxable in some countries with varying tax rules, so we recommend checking with your local tax authority or financial advisor for specific guidance.
What is Ethereum Name Service's ATH?
Ethereum Name Service’s all-time high (ATH) was SAR 321.57 on 11 Nov 2021. This represents the highest recorded market price of the asset to date.
What is the market cap of Ethereum Name Service?
With a market capitalization of 1.106B, Ethereum Name Service is ranked 109 among other crypto assets.
What is the all-time high of Ethereum Name Service?
The highest valuation of Ethereum Name Service since its launch was at SAR 321.57, marking its all-time high.
What is the 24-hour trading volume of Ethereum Name Service?
The trading activity of Ethereum Name Service over the last 24 hours was at 57.35M, highlighting its liquidity in the market.
How many Ethereum Name Service are there in circulation?
There are approximately 42.18M units of Ethereum Name Service currently in circulation, affecting its market dynamics.
What is the relative popularity of Ethereum Name Service?
Ethereum Name Service market cap is around 1.106B.
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