Buy Ethererum Classic or ETC Cryptocurrency by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about how to Buy Ethererum Classic or ETC Crypto coin.
How To Buy Ethererum Classic or ETC Cryptocurrency?
Ethereum (Ether) Classic is the token of the open-source, public, blockchain-based distributed computing platform Ethereum Classic that appeared after the hard fork of the Ethereum network, back in 2016. The split happened after the Ethereum DAO was hacked and over $50 million worth (back then) of Ethers was stolen from the network. The goal of the new blockchain was to restore the stolen tokens to their owners.
Like the coins resulting from other hard forks, initially trading of the Ethereum Classic was not supported by most cryptocurrency exchanges, but since then the number who offer it has increased.
As far as we are aware, the Ethereum Classic cannot be used for purchase of physical goods, but in case you want to have some, this is what you can do.
How to buy Ethereum Classic?
1. Buy Ethereum Classic with another cryptocurrency. If you have Bitcoin or Ether, for example, you can exchange them for Ether Classic. If you don’t have, but want to do precisely this, you should get those first. It would be the easiest to do so on Coinbase. It is a major exchange with good reputation that offers its services in over 30 countries. Another advantage is that at Coinbase you can buy coins with credit or debit card, for a commission of 4%. There are other fiat payment options as well.
2. Once you have Bitcoin or Ether, you must open an account with an exchange that offers the Ethereum Classic for one of those. Such exchanges are Kraken, OKEx, Binance, Bittrex, Bitfinex, Poloniex, HitBTC, AEX, GateIO, Qryptos, Exmo and many more.
3. After you open an account with an exchange of your choice and undergo the verification process, if needed, you can transfer your funds and buy Ethereum Classic.
You can also buy Ether Classic with fiat money like USD, EUR or GBP. There is another, more straightforward method to get Ethereum Classic – with fiat currencies. There are not many exchanges who offer this options, but among them are Kraken, Bitfinex, Exmo, Exrates, YoBit and C-Cex for USD. If you have Euro, you can get Ethereum Classic at Kraken or LiteBit and if you have British pounds – Cryptomate. The major Korean exchanges like Bithumb, Coinone, Coinnest, Upbit and Korbit offer ETC for KRW.
Once you have your Ethereum Classic, we recommend that you store them offline, in your own wallet, as it is safer. Keeping your coins in cloud services or in an exchange wallet brings the risk of them being stolen. According to Ether Classic’s site, there are a few options: Jaxx, Emerald Wallet, Guarda Ethereum Classic, a few online and a few hardware wallets.
If you don’t really need to own Ethereum Classic, but just to speculate on its price, there is the option to trade in cryptocurrency CFDs instead. Many of the properly regulated major forex brokers offer this type of products, but as far as we are aware, only eToro offers CFDs on Ethereum Classic. Trading with a regulated broker has its advantages and is somewhat less risky than on an unregulated cryptocurrency exchange. Also, the forex brokers’ platforms are more advanced and have multiple features and options.
How to Buy Ethererum Classic or ETC Cryptocurrency Conclusion
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