Ethereum is the second cryptocurrency both in market capitalization and influence in the crypto industry. Besides, as of 2020, Ethereum is the backbone of the decentralized finance (DeFi) sector. The cryptocurrency can be easily purchased on multiple platforms and cryptocurrency exchanges. We are going to provide a comprehensive guide on how to buy Ethereum (ETH). Here we come.
Buy Ethereum on Crypto Exchange
Since the crypto market is developing rapidly, users can acquire crypto seamlessly via different options. The most common one is to buy ETH and other digital assets on cryptocurrency exchanges. However, in order to get a desirable amount of ether and be provided with high-quality service, one should remember a crucial rule: do your own research (DYOR) before getting into any digital activity. This also concerns crypto exchanges. The good news is that after ten years of cryptocurrency existence, there is a wide range of crypto spots to buy ETH and other cryptocurrencies. Here is a list of the leading (and trustable) platforms on the market that help you with ETH purchase.
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Identify a Platform for Trading
To identify a perfect platform for trading, one should understand what features of a trading spot are important for him/her personally. For instance, some value the nativity of the platform and the intuitive design of a trading terminal. Others pay attention to the number of markets available for trading. All in all, there are certain features that have to be implemented in each exchange in order to provide an efficient trading experience. What should be taken into account when identifying a platform for trading?
- Do the research about commission fees charged (withdrawal/deposit/etc.);
- Know how many cryptocurrencies does the exchange list. Don’t forget to examine whether fiat deposits are available;
- Check the trading terminal. The leading crypto exchanges provide a trading terminal that will suit both crypto newcomers and professional traders;
- Security is probably the most important factor in identifying a platform for trading. Check what precautions an exchange takes in order to make your trading safe and secure;
- Read reviews about an exchange you want to choose. The reputation of a platform depends on many factors, including all of the statements mentioned above;
- Support plays an important role in your trading no matter how often/rarely you trade. The way the support responds and how helpful their answers are must be taken into consideration as well.
Create an Account
Once you chose an exchange to sell/buy Ethereum, it is time to take the next step. Since most of the exchanges offer native UX/UI, there will be no problem in creating an account. All you need is to provide a valid email address and follow the instructions written in the welcome letter.
Please pay attention that most crypto platforms will ask you to provide some documentation and go under a KYC procedure. This is a necessary step that probably drives many users crazy. However, it also protects both users and exchanges from any illegal activity like money laundering.
Now, when all the preparation work is done, it is time to deposit your money to buy ETH coins. If an exchange provides fiat deposits, there will be no problem to transfer money to your account and exchange them for Ethereum or other crypto assets. Users can transfer USD, Euros, and other currencies available for a certain exchange via credit/debit card, bank transfer, and so on. Please note that some cryptocurrency exchanges might charge an extra fee for fiat deposits.
If an exchange does not accept fiat currency, the algorithm of buying ether will be a little more time-consuming. In this case, you need to exchange your fiat money for cryptocurrency on instant exchange platforms like Changelly. Traders can exchange fiat to stablecoins like USDT and transfer the newly acquired cryptocurrency to the exchange to trade ETH.
By the way, you can easily purchase ETH via our platform within minutes. We accept USD, EUR, GBP, and a range of fiat currencies. Buy ETH and 160+ digital assets with your credit/debit cards (Visa, Mastercard), bank transfer, or Apple Pay.
You’ve got an account and deposits money – it is time to start trading! Pretty much every crypto exchange has video tutorials and learning material on how to trade cryptocurrency. If you are new to crypto trading, it is highly recommended to read/watch them before getting started.
We’ve recently provided tips on how to trade crypto. Check them out!
Withdraw ETH into a Wallet
The crypto wallet is a must for anyone who engages with cryptocurrency. Once you’ve purchased ETH on the crypto exchange, you might like to transfer it to your crypto wallet. Make sure that your Ethereum wallet is safe and secure.
Read also: Best Ethereum Wallets
Buy Ethereum with Cash
There are services that allow you to buy Ethereum with cash and even do it in a person-to-person way. LocalEthereum is a decentralized platform that enables users to buy and sell ETH. Basically, LocalEthereum connects sellers and buyers in a secure way. The platform provides a lot of payment options, including PayPal, credit/debit cards, bank transfers, etc. Users can even arrange a meeting and exchange cryptocurrency. LocalEthereum charges buyers around 0.75% fee, while sellers have to pay 0.25%. Still, such commission fees are lower than on the regular cryptocurrency exchanges.
Yes, Ethereum ATMs do exist and perhaps can be found in your city. You can always check the nearest ETH ATM using this map. Ethereum ATM is a convenient way to get ETH. It does not require you to complete a KYC procedure. Ethereum ATMs are quite simple in use. Just scan the QR code of your Ethereum wallet (can be found in your wallet account), insert cash money, and enter the amount of ether you want to buy.
However, cryptocurrency ATMs might charge a high commission fee. Among other downs of using Ethereum ATM – some countries simply do not have it.
How to Buy Ethereum: Bottom Line
Considering the fact that Ethereum is the world’s second cryptocurrency, it was and is still a good long-term investment, as well as a trading instrument. You might also like to read the Ethereum price prediction for the next few years and decide whether it is worth your attention. Don’t forget you can always get ETH coins instantly on the Changelly platform. Credit cards, bank transfers, and Apple Pay are accepted!