Guide to Buying Ethereum

There’s something interesting about Ethereum and I guess my readers should know about that too. To be going with, I’ll stop at nothing to get at the truth, even if that means turning myself inside out. So when, in 2013, Vitalik Buterin went on a mission to convince co-founders to help launch the Ethereum system together with its coin, after providing assurance to his team of researchers, developers, that release has happened two years after.

buy eth guide

Ever put the platform or the money to use before? Ethereum itself is open-source, it’s also a public, blockchain platform with the operating system featuring scripting functionality. It maintains a modified version of Nakamoto consensus by way of transaction-friendly state transitions, according to wiki. The guide to buying ETH is really useful now as it is recognized as one of the best cryptocurrencies after Bitcoin, of course. As its price is somewhat lower, I offer you this instruction to get some money till it is affordable.

Ether Wallet

get eth walletIn the first place, you need to choose a wallet for it. After finding the best hardware wallet examples – Ledger or Trezor – working with coin, you know, I’ve checked their security and it turned out also fine. But they take money for storing ETH, free wallets, on the contrary, are gratis, but less security hardened. Plus, the providers of this exciting opportunity to keep your coins at no charge though, are – Exodus, Jaxx, MyEtherWallet.

Now I am thinking over the next move. I know that people are dealing with a lot of different payment options right now, but if you want to buy this coin in proven ways, these are ETH with cash, e-wallets, including banking services.

Direct Purchase

Again, I am going to open up about a direct purchase, where I’ll give examples of the top platforms to see the final thing done. I can report that highly reputable CEX.IO and LocalEthereum suit best for such a work. Here and later on, I will refer to these platforms as they are tried-and-true and I took them as my orienting point.

With Credit/Debit Cards

My review goes, you may also discover a way to credit your trading account with cash and have ETH like that. Meanwhile, you’ll need to attach your card, credit or debit, to your account. At this point, I’d like to pay your attention to the table with limits.

Level 1 Transaction Daily Monthly Fee
Verified
Verified+
Corporate
$1,000
unavailable
unavailable
$1,000 unlimited
unlimited
unlimited
$3,000 unlimited
unlimited
unlimited
3.5% + $0.25

With E-Wallets

Based on my exchanges’ observing, they accept the wallets, we’re talking about PayPal, Neteller, iDeal, and many more. You can pay with a help of these banking services but mind daily restrictions and timing.

buy eth with directly

Bank and Wire Transfers

If you see ‘Wire Transfer’ in the exchange services, do not use it. In fact, usually, it is hard or restricted to make the first transaction with it. Sure if you are not afraid of the limits, you may save on fees with the option. I’ve made a table on the CEX.IO base, to shed the light on such constraints.

Level 1 Transaction Daily Monthly Fee
Verified
Verified+
Corporate
unavailable
unavailable
unavailable
$1,000 -200,000
$1,000 -200,000
$1,000 -200,000
$1,000 – unlimited
$1,000 – unlimited
$1,000 – unlimited
No Commission

With Cash

‘With cash’ means the situation may be on the rocks, but this way is about to be on the solid ground by having warranties from the receiver. It should be safe to send money to him or her. Find out it by getting in touch with your receiver and discussing the details, including timing.

Via ATM

buy eth via atmAnd many customers, investors as I am, certainly approached the process through the ETH ATM, not just a small-amount-limit machine to buy the crypto, but an easy and independent from KYC and AML regulations, which is perfect for small-size cryptocurrency buyers. You want to know a service where you can find it – just to see the map with ATMs, you may avail of CoinATMRadar. That’s my choice.

Having done that, in your wallet, look for a QR code to show for a camera. Insert your money to buy some amount of Ethereum, you choose. Ironically, this simple option will take 30 minutes to transfer the coins to the supplied address but may stretch well to several hours.

Though the coin has been months making waves on the markets and the buying means were available immediately, it is still on the 2nd position, which was criticized for not taking Bitcoin over in price. But who will have the last laugh?

Indirect Buying

Let’s get behind the process of exchanging two coins on exchange platforms. Don’t even bother yourself finding the variants, top choices are: Coinbase, Bitfinex, CEX.IO.

  • Create a new account
  • Get a BTC wallet address
  • Send Bitcoins
  • Trade Bitcoins for ETH

CFD Trading Option

We are put at dilemma to trade ETH in CFD or selling/buying ways. When the first option is not clear for most of people, I suggest delving into the matter. CFD resonates with staking or betting: when you purchase a contract, not the coins, actually you agree on the price without actual purchase of ETH.