Ethereum: How To Buy Them?

By Kapil Gauhar

Ethereum has become the one-stop blockchain solution for all the decentralized world that will change the existing system for sure. The Platform allows or gives freedom to anyone to build a decentralised application and use them as long as they own Ether. Ethereum’s native cryptocurrency is Ether that enables all operations within the blockchain as well as its updates. There are many ways of obtaining the Ether, some of them are being listed in this article.

Exchanges where one can Buy Ethereum:

The most popular and the easiest way to buy Ether is through the exchange. Ether is the second stable, most valued and well-known currency after Bitcoin, so to find an online exchange won’t be that much difficult.

20180818_WAYS-TO-BUY-ETHEREUM3.jpg

To do so, firstly you need to register with an exchange and make sure that it operates in your country and accepts the currency you want to trade in. The registration process includes the submission of general personal details.

Generally, full identity checks are done later on when it comes to withdrawals and deposits. To pass those checks, one will have to provide a proof of address as well as photo identification. This is done under the Know Your Customer(KYC) and Anti-Money Laundering(AML) regulations.

After all necessary checks are done, one will have to choose the deposit method. Depending on the exchange there are various ways to do so like credit and debit card payments, SEPA or PayPal payments, bank wire transfers. There is typically a small deposit fee charged by the exchange, which may depend on the deposit method. Generally, the exchange fees are mentioned at the footer of the website.

Majority of exchanges accept payments in US Dollars and euros, with other fiat currencies like Russian Ruble, Japenese Yen and so on being accepted at some of the exchanges. It takes several hours for the deposited fund to reflect into the exchange account, depending upon the deposit method or an exchange.

As soon as the funds are moved to an exchange account one can start trading. How user-friendly will the trading process be, depends upon exchange. Many of them had the process as easy as possible. The website will provide every relevant and necessary details for trading such as current value, market capitalization etc. Once you got the ether, it is recommended for you to withdraw it and store in a wallet.

List of the exchanges accepting Ethereum:

 

Name Country Deposit Methods Minimum Purchase BitPanda Worldwide Bank wire transfer, Credit and Debit cards $25 Gemini Worldwide Bank wire transfer $1 Coinbase Worldwide Bank wire transfer, Credit and Debit cards $1 Kraken Worldwide Bank wire transfer $5 Binance China Bank wire transfer $1 Bitfinex Worldwide Bank wire transfer $10 GDAX Worldwide Bank wire transfer $1 Bithumb South Korea Bank wire transfers, Credit and Debit cards, Gift cards N/A Bitstamp Worldwide Bank wire transfer, Credit and Debit cards $5 Etoro Worldwide Bank wire transfer, Credit and Debit cards, PayPal payments $200

 

Buying Ether With Cash

Many buyers prefer to purchase Ether anonymously, as they want to avoid KYC and AML checks. It is possible to purchase Ether from an online P2P exchange like LocalEthereum.

20180818_WAYS-TO-BUY-ETHEREUM2.jpg

The Local Ethereum works similar to the eBay- a marketplace which allows users to offer any local currency in exchange for a certain amount of Ether. Once the offer is accepted by the seller, the exchange of funds takes automatically. This service isn’t free, for this seller are charged 0.25% fee while buyers are charged 0.75% which is very less in comparison to other exchanges offer. The processing of transaction can take a few hours. Meanwhile, miners will confirm the transaction and record it in the Blockchain.

Local ethereum allows parties to exchange messages, which helps to set-up an eye-to-eye contact with seller and exchange Ether for hard cash. One will require active Internet access to sign off for the transaction.

Trading Ether P2P is the most private and secure way available. Further, it provides flexibility when it comes to trading pairs, as well as no buying or selling limits. This type of trading requires a certain level of trust between the two parties.

Ethereum ATM:

An alternative way of purchasing ether is through an Ethereum ATM. It is the best way to obtain the Ether for traders, investors and users, who are looking to buy for small amounts.

One will need wallet before using The ATM. After having the wallet locate nearest ATM that facilitates Ether transaction. After locating ATM, find QR-code of wallet and hold it in front of the ATM camera so it can scan it. Then insert cash in ATM and confirm the amount of Ether to buy it. The Ether you purchased will be delivered to the mentioned address within 30 minutes normally. It might take several hours also.

Is it too Late To Invest in Ethereum:

Ethereum is the project which is very much still in the development phase. If it will be able to achieve what its creators have visioned then its never too late to invest in the Ethereum.

It has already secured the second position in the run of cryptocurrency. As it’s in developing phase in which there are chances of its improvement, the value of Ether is only going to go up.

In the case of any cryptocurrency, it’s not easy to predict the long-term future of its value. So, for ether also in 10 years it can be at the uncapped amount or can be of worth nothing that can only be imagined.

Kapil Gauhar

Kapil Gauhar is the founder of Blogger’s Gyan. He is a Passionate Blogger, a Big Thinker and a Creative Writer. His passion for doing friendship with words and letting people know about the wonders of the Digital World is what motivates him to take writing as a career.

Related Posts