Ethereum is the second-largest cryptocurrency by market cap and has a lot of potential for growth. In this post, you’ll learn how to buy Ethereum and why you should. You’ll also get introduced to some of the most common Ethereum exchanges, their pros and cons, as well as where to buy ETH tokens.
If you are new to the world of cryptocurrencies, you might be feeling a little confused right now. There are so many different coins out there right now, and it can be hard to keep track of them all. One coin that has been growing steadily in popularity is Ethereum (ETH).
It’s currently the second largest digital currency by market cap, and it continues to gain traction among investors. In this article, we’ll discuss why that is and how you can buy Ethereum for yourself.
What is Ethereum?
Ethereum is a decentralized platform for applications that run on blockchain, including smart contracts and decentralized applications (DApps). The Ethereum network is a public blockchain network like Bitcoin, but with added programming functionality that allows developers to build apps on top of it.
Like Bitcoin, Ethereum is a distributed public blockchain network. There are no central control or centralized ownership of the network. The network is run by nodes spread across the globe.
Ethereum was proposed in 2013 by Vitalik Buterin, a Russian programmer who had been involved in Bitcoin since 2010. At the time, the Bitcoin network had become very congested with almost endless discussions on the direction of the technology, and it was not processing transactions fast enough to suit users’ needs.
How to Buy Ethereum?
If you want to buy Ethereum, you’ll first need an Ethereum wallet. You can either open a wallet online or download a wallet app to your smartphone. Then, you can transfer money from your bank account into your new Ethereum wallet.
Now that you have a place to store your Ethereum, you’re ready to buy some. There are several exchanges where you can buy Ethereum, including Coinbase. Coinbase is a digital exchange where you can buy and sell Ethereum.
You can also store your Ethereum on the exchange if you want, but we don’t recommend it. There are several other exchanges you can use to buy Ethereum, including Kraken and Binance. We discuss these exchanges below.
Decide how to pay
The first thing you’ll have to decide when buying Ethereum is how to pay for it. You have three options for payment. You can buy Ethereum with a credit card, with a bank transfer, or with another cryptocurrency.
If you choose to pay with a credit card, keep in mind that the purchase will come with a hefty fee of around 10%. This is the price you pay for the convenience of buying Ethereum instantly. If you need Ethereum quickly and don’t have time to wait for a bank transfer to go through, this is the best option.
We don’t recommend it as a long-term option, though, as these hefty fees will cut into your overall profit. When buying Ethereum with a bank transfer, you’ll have to wait a few days for the transaction to go through. However, you’ll avoid paying the high credit card fees.
The downside of this method is that you’ll have to wait a little longer to get your Ethereum. If you buy Ethereum with another cryptocurrency, the transaction will be instant. However, you’ll have to exchange your current cryptocurrency for Ethereum, which will result in a loss. To get around this, you can exchange your current cryptocurrency for Ethereum at one exchange, then transfer your Ethereum to another exchange to convert it into the cryptocurrency you really want.
Why You Should Buy Ethereum?
Now that you know what Ethereum is and how you can buy it, let’s talk about why you should buy it. There are several compelling reasons why you should consider buying some Ethereum.
- The network is growing steadily – As we mentioned above, the Ethereum network has been growing steadily since its inception. In addition to this, it has also been catching the attention of major companies like Microsoft, Toyota, and JP Morgan Chase. All of these companies are exploring ways to use the Ethereum network to improve their business. As it becomes more widely used, it will likely become more valuable as well- increasing the potential for profit.
- Easy to use – Ethereum is easy to use as a beginner. Unlike other cryptocurrencies like Bitcoin, it is not necessary to download a full blockchain. This makes it easier for beginners to use the network without downloading a fully functional blockchain. It also makes Ethereum ideal for applications on the internet that don’t need to use blockchain technology.
- The Ethereum network is highly secure – The Ethereum network is secured by an enormous network of computers. Any changes to the network are verified by consensus, so the system is highly secure and tamper-proof.
- Ethereum is backed by a strong team – The Ethereum network is led by a strong team. Vitalik Buterin, the founder of Ethereum, is a highly regarded and respected figure in the blockchain space. Many consider him to be the leader in the race to create the next “world computer.”
- Ethereum is a unique investment – Since Ethereum is unique in terms of its use, it’s unlike any other type of investment. This makes it a good addition to any investment portfolio. – The potential for growth is huge – Ethereum has the potential for massive growth in the future. It’s backed by an innovative technology that has the potential to change the internet as we know it.
- Ethereum is easy to store – Just like it’s easy to use the Ethereum network, it’s also easy to store your Ethereum. All you need is a digital wallet, and you can store your Ethereum there.
- Ethereum is easy to buy – Ethereum is easy to buy because it’s available on most major exchanges. You can easily transfer money from your bank account and buy as much Ethereum as you want.
- The potential for profit is huge – Like we’ve already said, Ethereum has the potential for huge growth. It’s expected to overtake Bitcoin in terms of market cap in the future, meaning that it could be extremely profitable.
Where to buy Ethereum?
Like we’ve mentioned, there are several exchanges where you can buy Ethereum. If you’ve decided to buy Ethereum with a credit card, you can choose from Coinbase, Coinmama, or Changelly. If you prefer to buy Ethereum with a bank transfer, you can use Coinbase, Kraken, or Gemini. And if you want to buy Ethereum with another cryptocurrency, you can do so at exchanges like Binance, Changelly, or Coinbase.
Keep in mind that buying Ethereum with a credit card or bank transfer will cost you more. It’s always better to use another cryptocurrency to avoid losing money in exchange fees. If you’re planning to buy a large amount of Ethereum, we suggest that you use a trading exchange like Binance.
These types of exchanges allow you to buy Ethereum with a wide variety of cryptocurrencies. This is the best way to buy a large amount of Ethereum without losing money on fees.
How Much ETH you can afford
You’ll also want to decide how much Ethereum you want to buy. It’s important to remember that Ethereum is a volatile market. This means that the price changes often, and it can drop quickly if something bad happens. When deciding how much Ethereum to buy, you should always play it safe.
Buy less than you would like to buy and then buy more later if the price goes up. This will help keep you from losing money on an investment that you’ve put so much time and energy into researching. If you’re worried about investing in a volatile market, there are a couple of things you can do to help lower your risk.
First, you can buy a small amount of Ethereum and wait to see how it performs before investing more money. Second, you can invest in Ethereum with a long-term perspective. Although short-term gains are nice, long-term gains will make you a lot more money in the end.
Store your Ethereum
If you buy Ethereum and decide to hold onto it for the long term, you’ll need to store it somewhere. We don’t recommend storing Ethereum on an exchange. Exchange accounts get hacked all the time, and you don’t want to lose your.