In 2013 a Russian-Canadian programmer named Vitalik Buterin and few other crypto entrepreneurs founded Ethereum. Most of them were previously involved in bitcoin. According to Vitalik Buterin Bitcoin has limited functionality. And this is where Ethereum comes to play. Like Bitcoin it’s also built on blockchain technology However unlike bitcoin People can actually build apps on top of Ethereum. In this article, I would tell you how to buy Ethereum in few easy steps.
Get an Ethereum Wallet
Of course, before buying Ethereum first you have to get an Ethereum wallet to hold your ETH. There are many types of Ethereum wallets. Here are a few of them for you to find the best one.
Ethereum Software wallets
If you are new to cryptocurrency and just starting your journey then a software wallet might be best for you. Because you can find a software wallet for free. One of the best software wallets for beginners is Atomic Wallet. It is completely free and you can hold more than 500 cryptocurrencies there. Also it has exalent sucirity. That is why Atomic Wallet is the best wallet for cryptocurrency in 2021.
There is more wallet for holding ETH. My other top Ethereum recommendations are Exodus for desktop, Edge for mobile, and MyEtherWallet for desktop and mobile both.
Ethereum Hardware Wallets
Hardware wallets are always the most secure way to store any kind of Crypto. It’s a piece of hardware like any Pendrive or flash drive. you connect to your device then store your crypto. The hardware wallet doesn’t connect to the internet all the time so it can not be hacked. On the other hand, software wallet is vulnerable to malware. So if you are concern about keeping your Ethereum safe then a hardware wallet is the best choice. Ledger and Trezor are both very good examples of hardware wallets.
Buy Ethereum through credit card or wire transfer
You can buy Ethereum using your credit card or bank account. There are many exchange sites where they will let you buy Ethereum through credit card or wire transfer. First, you have to go to these exchange sites then register for an account then transfer money to your exchange account. After that, you can just buy your desire cryptocurrency. Some of the popular cryptocurrency exchanges are Binance, Huobi Global, Coinbase, Kraken, CEX.io, etc. In bellow, I have discussed some of my personal favorite exchange sites in detail.
Buy Ethereum through Coinbase
Coinbase is a very popular cryptocurrency exchange. If you are familiar with the crypto world then you heard the name Coinbase. You can buy ETH for a fee of 1.49%-3.99% depending on your payment method. Remember that credit cards take a higher fee than wire transfers. So here are the steps you need to follow. First, create a Coinbase account after that add your payment option. Go to the buy/Sell option on the menu, select your desire ETH amount and buy.
Buy Ethereum through CEX.io
CEX.io is a cryptocurrency exchange where you can buy many types of cryptocurrency. Most importantly you can buy Ethereum with a credit card. It’s very easy. First, create an account on CEX.io then add your payment method (credit card or bank account). After you have money on your exchange go to the buy/sell section and select Ethereum. Choose the amount and buy the Ethereum you want. It’s just simple as that.
Exchange Ethereum though Sawpzone
If you are interested in exchanging ETH through another cryptocurrency then you can check out Sawpzone. Here you can easily convert your BTC to ETH if you desire. They support a variety amount of cryptocurrencies. You can even compare exchanges by rates, user reviews, and delivery time.
Up to this day, there are not many sites where you can safely exchange cryptocurrency. So if you want to buy ETH with BTC or another cryptocurrency the Sawpzone is a great choice.
Buy Ethereum through Paypal
You can buy ETH and a few other cryptocurrencies directly from PayPal. However, you can not send any of the cryptocurrencies anywhere. As unfortunate as it sounds you can only buy and sell your cryptocurrency. But if you are not concern about trading cryptocurrency then this would not be an issue for you. For people who want to make a profit on crypto through price fluctuation then this is a great way because you can instantly buy and sell any crypto through Paypal.
Withdraw the Ethereum to your Wallet
Once you brought your ETH it’s time for you to withdraw those Ethereum from your wallet. It’s not a good idea to leave your Ethereum on your exchange, no matter how much trusted they are. If an exchange got hacked or goes bankrupt you will definitely lose your crypto.
Send your Ethereum to your wallet. This step is easy as sending an email. You just need to send the Ethereum your id which would look something like this 0x14xf691656d4a755815f9cx1ceacc85d5a0c2sy. You can get your ETH address from your wallet.
Ethereum is the second most popular cryptocurrency. In my point of view, Ethereum has more potential to grow than bitcoin. In 2021 Eth can rise to twice or three times its current price. So if you are planning on investing in Ethereum now is the right time.