Buy Ethereum or ETH by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about How to Buy Ethereum or ETH.
How To Buy Ethereum or ETH ?
Launched in 2014 by Russian-Canadian programmer Vitalik Buterin, Ethereum (ETH) is the world’s second-largest cryptocurrency by market cap, after Bitcoin.
Inevitably, Ether is constantly compared to Bitcoin. Although the two share many similarities, they are driven by different purposes. Both Bitcoin and Ethereum are powered by the principle of distributed ledgers and cryptography and can be used as an alternative to money. However, Ethereum’s primary purpose is to serve as open-ended decentralized software platform that facilitates Smart Contracts and Distributed Applications (ĐApps). Although Smart Contracts are still a new technology, those scripts of code have a wide range of potential to run applications in many different areas.
Ethereum token contracts (ERC-20) are probably among the most popular type of smart contracts. In fact, if you have some programming skills, you can create your own ERC20 token in hours. ERC20 tokens piggyback on the Ethereum network, hosted by Ethereum addresses and sent by Ethereum transactions. The benefits of creating a token as ERC-20 compliant is such that very few token contracts today are created any other way. No wonder Initial Coin Offerings (ICOs) on the Ethereum blockchain have exploded lately. Some of the most popular ERC-20 tokens are: EOS (EOS), Tron (TRX), Qtum (QTM), and OmiseGO (OMG).
How to buy Ethereum (ETH)?
You can purchase Ethereum at any of cryptocurrency exchange that supports it and most of them do. Also, quite a few of them allow buying Ether directly with traditional currencies (USD, EUR, etc.) – Bitfinex, GDAX, Kraken, Coinbase, to name a few.
We suggest that you buy some Ethereum at Coinbase, as it is a major US licensed exchange that operates inmore than 30 countries. It supports convenient payment methods, has a transparent pricing structure and user-friendly platform that is very intuitive and easy to use.
So, here are the exact steps you need to follow in order to purchase Ethereum:
1. Register at Coinbase. Verify your account.
Signing up for a Coinbase account takes just a couple of minutes. Before you deposit some fiat currency, you need to verify your identity, as is usually the case with most similar venues.
At Coinbase, you are able to deposit and withdraw via bank wire (SEPA included), credit / debit card (Visa and MasterCard), as well as PayPal. Transfers via cards and PayPal are instant, while bank wire payments may take up to several business days.
We suppose that connecting your credit card depositing with is the easiest and the fastest method. Card transfers at Coinbase are charged with 4% fee. If you are based in Europe, keep in mind that your card must support 3D Secure.
3. Exchange your fiat money for Ether.
4. Store it in a secure wallet.
Coinbase provides a Web-based wallet, but you can also send your Ethereum coins to a more secure hardware wallet (TREZOR or Ledger-type devices). Besides, you can also generate a wallet on MyEtherWallet.
Other options to trade in Ethereum
If you wish to avoid all complications that owning a coin involves (such as wallets, private and public keys and so on), you can use the services of forex brokers. Some of them, like eToro, offer a way to trade in Ethereum, without actually buying it. It is called Ethereum CFDs and has its advantages. First, it is simpler, as you only speculate on whether the its price will to move up or down. Second, you don’t have to invest large amounts of money, as with a forex broker you may use leverage (while most crypto exchanges do not support margin trading). Third, many of the brokers that offer Ethereum CFDs are licensed by the respective governmental agencies, while most exchanges still operate in the grey area.
Instead of the cryptocurrency broker you can use Plus500, XM, eToro, Fxpro or AvaTrade crypto currency brokers.
How To Buy Ethereum or ETH Conclusion
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