So, you want to buy Ethereum? Well, that’s a great decision.
After all, when it comes to cryptocurrency, Ethereum is the second biggest name in the industry after Bitcoin. In addition, the price of the same has risen rapidly in the past year and many people have made some great returns from it too.
However, before you start investing, it’s best to know about a thing or two regarding this new form of Cryptocurrency. So, let’s get started with it.
What Is Ethereum?
Ethereum is a decentralised platform that was created in 2015 by a group of people who wanted to create a network for decentralised apps (DApps).
DApps are applications that run on the Ethereum network, and they can be used to run any kind of application.
Here are some facts that will help you understand Ethereum better:
- Ethereum is different from Bitcoin because it has smart contracts.
- These smart contracts are computer programs that allow you to do things like exchange money or property without having to go through a middleman.
- The idea is that if you have a contract within the Ethereum network, both parties will automatically get what they want when they want it.
- With Ethereum, you can trade without having to trust anyone else.
Ethereum has been growing rapidly over the past few years and has become more popular than ever before. As of April 2022, there were over 1 million accounts on the Ethereum network—more than there were on any other cryptocurrency at that point in time!
How To Buy Ethereum?
If you want to buy Ethereum, there are a few things you need to do before making your purchase. Here’s a list of steps to help you out:
Select An Exchange Platform
The first thing you should do is ensure that your chosen exchange has a high level of security. This is what will make all the difference when it comes to your online safety and privacy.
Make sure you’re using a reputable website. Authentic platforms like the bitcoin era can be a great choice if you’re a newbie in this field.
Look at the reviews and ratings on popular review sites. You can also check out their social media presence to confirm authenticity.
Make sure you do some research about how much time it’ll take for fiat money to be converted into cryptocurrency and vice versa once you’ve sent in payment for Ethereum.
Fund Your Account
The first step to funding your account is to set it up.
Once you have created an account and verified your identity, you can fund your account with US dollars or euros by using a credit or debit card. The same procedure can also be done by using a bank transfer or wire transfer.
Place Your Order
Once you have your funds placed in the exchange account, you’ll be able to trade them for Ethereum. This is a very simple step.
Put down the value you wish to exchange on the platform.
In general, investors buy shares from a single Ethereum coin. This will depend on the token’s price and how much you wish to purchase.
Now, you will be able to view the amount you invested against a particular percentage of one Ethereum coin.
Store The Ethereum
The only way to store your ether is with an ether wallet. There are a bunch of different types out there.
You can use a hardware wallet such as Ledger Nano S or Trezor Wallet or use an online wallet such as MyEtherWallet.
Is It A Good Idea To Buy Ethereum?
Remember that investing in cryptocurrencies, including Ethereum, is a high-risk and speculative venture. That’s because the value of cryptocurrencies can fluctuate wildly.
As such, if you invest in cryptocurrency, you must be prepared to lose all your money.
Ethereum is one of the most popular cryptocurrencies, and it has a market capitalization of over 79.47GBP. Ethereum’s price has been growing rapidly, and as of writing this article, it is trading at 1,034.07GBP per unit.
There’s a lot of hype surrounding cryptocurrencies right now—so much hype that even some mainstream investors are jumping on board!
If you can get involved now before others start investing heavily too (which they will), then your investment could end up being worth much more.
Although Ethereum and other cryptocurrencies are just starting to gain mainstream acceptance, it’s important to remember that there are multiple ways to actually invest in them.
We have covered all the important details about purchasing Ethereum in the article. However, if you still have any queries, do leave us a comment below.