Since Ethereums launch back in 2015, people have occasionally had difficulties purchasing it. However, it’s quite simple and there are a few options as to how it can be acquired. If you have purchased Bitcoins. before, then the process of buying ETH will be easy for you.
Buy Ethereum on an exchange
The process of buying Ethereum from the exchange is very easy and simple. The most trusted and popular exchange platforms include:
– The cheapest and most popular method of buying Ethereum. The steps are very simple.
- Open a Coinbase account
- Add a payment method which may include a bank account or card number
- After adding a payment method go to the Buy/Sell options and type in the amount of Ethereum you wish to buy.
- Finally, click the Buy ETH button.
– Cex.io allows users to buy ETH with a credit card. Available worldwide. The process of buying ETH on Cex.io is as follows;
- Open an account on Cex.io
- Add your preferred method of payment whether it be a credit card or a bank account
- Click the buy/sell Ethereum button and choose the amount of Ethereum you want to purchase.
- Finally, click the Buy Ethereum button
Other exchange methods you can use to buy Ethereum include:
Creating an Ethereum wallet
The most commonly used Ethereum wallet is MyEtherwallet, it provides optimal security and is relatively easy to use. The signup process is quite simple. Make sure to never lose your keystore file and disclose your private key to anyone.
An Ethereum wallet should satisfy the following conditions:
- Have a private key
- Be easy to use
- Have a backup option
- Available for use with other systems.
Some of the best Ethereum wallets include:
This is one of the best and the cheapest Ethereum hardware wallets available. In this device, Ether is stored offline. The software allows users to control their transactions on an OLED screen. The Ledger Nano S is very secure and extremely difficult to breach.
This was the first hardware wallet ever made. Initially used for bitcoins before eventually adding Ethereum and other coins. It’s a secure offline storage system that uses an electronic chip which only allows you to operate after a successful login in order to ensure security.
The first cryptocurrency wallet for desktops. The beauty of it is that it’s free to use and has a chart that shows your coins and full portfolio. It also supports other different types of cryptocurrencies, therefore, making it very flexible. Plus it has a nice looking interface.
Other types of wallets include:
- Jax mobile wallet
- The Mist desktop wallet
- Metamask desktop wallet
- MyEtherWallet web wallet
- Coinbase web wallet
When is it the right time to buy Ethereum?
It’s very hard to predict when the price of Ethereum will rise or fall. Ethereum is mostly stable but still very unpredictable. The best thing to do before buying Ethereum is to watch the Ethereum charts closely.
You can then buy when you think they are going to go up.
Always follow news about Ethereum and keep up with market trends in order to have the freshest information.
Additionally, don’t forget that if you have bitcoins, you can trade them for ETH on most cryptocurrency exchanges