Crypto is a popular trend worldwide and you may be interested in buying a particular cryptocurrency.
Is Bitcoin (BTC) out of your reach? No worries!
Ethereum (ETH) is the world’s second-largest cryptocurrency after Bitcoin and presents a remarkable opportunity to invest. Ethereum is behind only Bitcoin among the cryptocurrencies with the highest market capitalization.
Since its introduction into the market, Ethereum has come a long way. The value of Ethereum has increased about 900 per cent in the last couple of years.
Still, Ethereum is affordable and with that kind of return, it is not a wonder that Ethereum remains a popular choice for investors looking to buy cryptocurrency.
If you are looking to get into cryptocurrency, here is how you can easily buy Ethereum.
Understanding Ethereum
Ethereum, like other cryptocurrencies, is a digital currency that exists online.
Debuted in 2015, Ethereum has withstood the test of time and is now the world’s second most valued cryptocurrency.
Ethereum operates in a decentralized manner using a technology called a blockchain. Every transaction of Ethereum is recorded on blockchain where it is permanently kept.
There is no involvement of a central authority like a bank or government in Ethereum transactions. You can send or receive Ethereum at any time as it is available 24/7.
Ethereum functions as a means of payment, but you can use it for the following purposes as well:
- Self-executing smart contracts
- Mining Non-fungible Tokens (NFTS)
- Creating digital apps
So, it can be said that Ethereum works more like a token that can be used for various functions.
Step-by-step Guide to Buy Ethereum
You may have met people telling you about multiple ways of buying cryptocurrency. After all, you want to invest in crypto.
Carl Runefelt, alias, The Moon, is a global crypto leader who is pushing for the mass adoption of cryptocurrency.
He says, “I had gotten some nice profits from my Ethereum holdings for a long time. I have been holding Ethereum for multiple years.”
If you are looking to buy Ethereum, you need not look elsewhere. Here is how you can easily buy Ethereum.
Find a Crypto Exchange
The first thing you should do to buy Ethereum is to find a crypto exchange.
A crypto exchange is a platform where you can buy a cryptocurrency and make the trade.
As Ethereum is a popular decentralized computing platform, many crypto exchanges allow you to trade it. You just need to select an exchange platform and open your account.
Some of the best crypto exchanges that you can use to buy Ethereum include Binance, Crypto.com, KuCoin, Kraken, and Coinbase. You can also go for any other crypto exchange based on your convenience.
Set Up Your Account
Once you are done with selecting your crypto exchange, the next step is to open your account.
You just need to provide some basic personal and financial information. You will be asked a few questions to verify your identity.
Carl on his YouTube channel, The Moon, emphasizes the importance of cryptocurrency and said, “Cryptocurrency is recognized across the world and is not affected by exchange or interest rates. It would also provide individuals living in economically fragile nations more stability and predictability.”
Deposit Funds
You should deposit funds in your account to buy Ethereum.
There are multiple ways you can do it. You can deposit money as part of the account opening procedure, or some exchanges allow you to do it soon after.
You can buy cryptocurrency with a traditional currency like US dollars or can exchange your existing crypto – for instance, Bitcoin for Ethereum.
But to deposit funds, you will need to connect your bank account with your crypto exchange account. Once it is done, you can transfer the money using a debit card.
Start Trading
After depositing money in your crypto exchange, you are all set to start trading in Ethereum. You can buy Ethereum with dollars or can do crypto-to-crypto trades.
You can keep your Ethereum in the crypto wallet of the exchange platform that stays online. But you can also use a cold wallet called an offline wallet to store your Ethereum.
Should I Invest in Cryptocurrency?
With time, cryptocurrency has grown immensely. Today, many global leaders label it as the best alternative to fiat or traditional currency.
Cryptocurrency like Bitcoin may be out of your reach as its value has increased manifolds in the past few years.
If you are worried about not being able to hold cryptocurrency, Ethereum presents an excellent opportunity to start investing in crypto.
Ethereum has become the world’s second-largest cryptocurrency, and you can use it for multiple purposes. Still affordable, it is important to remember that the value of Ethereum is rising with each passing day, and you should not waste the opportunity of buying Ethereum when it is within your reach.
