At the beginning of last year, the cryptocurrency was having a real moment and it was hitting once unthinkable peaks. Now, it's touching some important lows.
A crypt that has fallen particularly far is Ethereum. Even if its value did not approach $ 20,000 like Bitcoin did, ETH was long considered the next big cryptocurrency, and exceeding $ 1,200 at the start of January 2018 seemed to be a step in that direction . But the price has plummeted in the rest of the year; at the time of writing this article, the current price of Ethereum is around $ 210.
Where does the investor still interested in cryptocurrency leave? Ethereum is much cheaper than it was 10 months ago, but it is also in free fall. Nobody is sure if it will rebound or continue to fall. Anyone who decides they should buy low should know that cryptocurrency can lead to huge losses, as it did for many cryptocurrency holders this year.
If you still want to take the risk of buying Ethereum, here's how you can do it and where you can find it.
Where to buy Ethereum
To buy Ether, Ethereum's cryptocurrency, you need to know not only where to find it for purchase, but where you can even store it.
The most basic explanation is that Ethereum, like most cryptocurrencies, can be found on cryptocurrency exchanges, and are stored in cryptocurrencies.
Cryptocurrency collectors store your cryptography with a public and private key in the blockchain. Several forms of portfolios have been developed in the last decade since cryptocurrency has gained popularity; mobile wallets, wallets, wallets, software portfolios and paper wallets are all options.
The creators of the Ethereum decentralized blockchain system have also created an Ethereum portfolio, available for Windows, Mac and Linux. This portfolio contains not only ETH, but other assets, such as contracts, which are created in the Ethereum blockchain. MyEtherWallet also generates portfolios compatible with Ethereum.
Those who purchase Ethereum but have or are interested in other cryptocurrencies may instead prefer to look into a portfolio that can store more cryptos. Hardware portfolios such as Trezor include Ethereum in the list of currencies they claim to be able to store, as well as desktop and mobile portfolios such as Jaxx and Exodus.
Review the pros and cons of any portfolio or type of portfolio you are looking for. Some have different qualities you might prefer – hardware portfolios, for example, allow offline storage, while some desktop portfolios are linked to cryptocurrency exchanges.
Exchanges are where cryptocurrencies are bought and sold. If you thought you needed to do extensive research on your wallets, wait until you read what happened to some of the biggest cryptocurrency exchanges in recent years. Double and triple check the security and chronology of an exchange before deciding where to buy Ethereum.
Many exchanges will have Ether available for purchase. It has the second largest market capitalization of any cryptocurrency on the market, although XRP, alias Ripple, is approaching that honor. Anyone looking at some of the biggest cryptographic exchanges, like Coinbase or Binance, will find Ethereum. Other exchanges that have Ethereum include Kraken, Gemini, Bitstamp and Bitfinex.
How to buy Ethereum
Another part of the cryptocurrency trade that you need to consider before choosing one and buying your Ether: how do you plan to pay for it?
If you pay with a debit or credit card or pay cash you can determine which exchange you will use. Many of the larger exchanges only accept card payments, but if you think the information is too risky to make an exchange, finding the way to pay with fiat currency or other cryptocurrency could be the way to go.
How to buy Ether with Coinbase
Coinbase, as one of the largest Ether sales platforms, requires a credit / debit card and a bank account from you before you even purchase any cryptocurrency.
Here are the steps to purchase Ether on Coinbase:
- Register for a Coinbase account. This will result in the creation of a password and your email address for verification.
- Add your phone number and upload an identification form for further verification and set up two-factor authentication for added security during access. This can be done via a text message or Google Authenticator.
- Add a payment method by linking a bank account and / or credit card to your account.
- Now you can start! Click "Buy / Sell" at the top of the page.
- On the next page, be sure to use the option to buy and not sell. Click on Ethereum to specify it as a planned purchase.
- Enter the amount of money you want to spend on Ether and the on-site calculator will tell you how much Ether will give you.
- Please confirm that you have purchased the desired amount and use the preferred payment method and make the purchase.
And that's right, you have Ether. Coinbase is also a portfolio in addition to an exchange, so it will also be stored there.
How to buy Ether with USD
If you do not want to use your credit or debit card to buy any cryptocurrency, finding the bag that allows you to use a bank transfer to send money could be the best solution.
An exchange that allows you to use bank transfers to pay Crypto is Bitstamp. Here are the steps to purchase Ether on Bitstamp:
- Register an account with Bitstamp, using your email. They will send you a username and password.
- Log in with the information provided, change your password to something unique and enable two-factor authentication.
- Fill in the verification information, submit and wait to be verified.
- Click on "Deposit" once everything has been verified, then specify "International Wire Transfer".
- Fill in the necessary information on your bank and, using Bitstamp bank details, transfer the desired amount of money to Bitstamp.
- At the end of the transfer, return to the exchange, click on the market to indicate that you wish to purchase Ethereum, enter the amount you wish to spend and the type of order desired.
- Confirm your information and make your purchase.
Why buy Ethereum?
You can still believe there is hope for the decentralized platform and its purpose, but the way value has cracked can not be blamed for not trusting it anymore.
People who believe in Ethereum are fascinated by how it differs from other cryptocurrencies. Bitcoin, for example, is predominantly a currency; Ethereum and its network are much bigger than this, and people who have spent years talking about how the blockchain is the future of technology are naturally attracted to this.
Or maybe you think Ethereum has actually hit the bottom now, and is about to stabilize and rise. But this is a risky thought for any investment, no less cryptocurrency.
How is Ethereum different?
Ethereum is really more blockchain than cryptocurrency. By decentralizing networks instead of storing files on servers or in cloud networks, blockchains are designed to be significantly safer than those normally used for online storage.
Ethereum has chosen to focus more on that level of online security rather than Bitcoin using blockchain to focus on the currency. People can create applications on the decentralized network.