Ethereum is an open source public blockchain project set up on a distributed computing platform with smart contract functionality. Ethereum is the pioneer for smart contracts under the blockchain technology. The second-ranked crypto is currently on a bullish run that is being spearheaded by Bitcoin. By the time of writing Ehereum was trading at $303 with a market capitalization of $32,368,211,824.
There are various ways of owning Ethereum. You can own Ethereum through mining. Previously, mining was a lucrative venture. However, mining is no longer a fruitful venture due to dwindling revenues. You can also own Ethereum by buying it on various platforms. The most convenient way to buy Ethereum is to use an online cryptocurrency exchange. With so many choices to choose from, this guide highlights the best places you can buy Ethereum in 2019.
Coinbase is a popular cryptocurrency trading platform based in the United States with an excellent reputation due to its adherence to laid down laws. The platform has exceptional security measures in place, with a good customer base. The exchange supports several cryptocurrencies, including Bitcoin, Ethereum, and Bitcoin Cash. Note that the exchange is not available in all countries. However, if the platform is open in your country, then Coinbase is the most convenient way to purchase Ethereum.
Before you buy Ethereum on Coinbase, you need to create an account and undergo the necessary verification requirements. In the next phase, you will add your payment method. Coinbase allows Credit/debit card or bank wire transfers. Click the “Buy/Sell” and click Ethereum. In the last phase, enter the amount of Ethereum you would like to buy. Coinbase will sell you Ethereum for a fee of 1.49%-3.99% depending on your payment method. Usually, credit cards have a higher cost than wire transfers. If you wish to store your Ethereum coins, you can transfer into a compatible wallet due to security reasons. If you want to trade the asset, then it can stay on the exchange for a while.
Binance is a leading cryptocurrency exchange that is widely used. The exchange’s popularity has grown based on the fact that it has numerous listed cryptocurrencies. The platform supports Ethereum, Bitcoin, Bitcoin Cash, among others. To buy Ethereum on the platform, you need to create an account first. There is no verification required on Binance for withdrawals below 2 BTC per day, and the exchange also offers a mobile app for both iOS and Android devices.
You can buy Ethereum by first adding your preferred payment method. Binance accepts the use of credit cards to buy Ethereum. The exchange has partnered with Simplex to power the purchase of cryptos through credit/debit card. Binance will charge you 3.5% per transaction (10 USD minimum). Depending on your location, Binance can offer you other options of buying Ethereum using other cryptocurrencies. Over the past few months, Binance-branded fiat-to-crypto options have emerged, catering to various countries across the globe.
KuCoin is a popular cryptocurrency exchange with support for various cryptocurrencies. The exchange supports Bitcoin, Ethereum, and other digital assets. KuCoin is also known to support popular stable coins like USDT, USDC, TUSD, PAX, and DAI. The exchange has also issued its token called KuCoin Shares (KCS). To buy Ethereum on the exchange, you need to create an account first. Creating an account is easy because you only need your email, username, and secure password. You will then enable the two-factor authentication feature for securing your account.
To buy Ethereum, you can use a credit/debit card. Recently, KuCoin partnered with payment solution provider Simplex to power credit/debit card purchase of Ethereum. You can access through the “Assets” button. With a debit/credit card, you can buy BTC, ETH, XRP, BCHABC, and LTC with both USD and EUR.
Apart from buying Ethereum using debit/credit, you can trade other supported cryptocurrencies with Ethereum. For example, a popular pair is ETH/BTC. You will need to deposit Bitcoin first. Remember that before you make your first deposit, ensure you have first completed the Google 2FA verification and that you’ve set the trading password for your account. Otherwise, you won’t be able to get your KuCoin deposit address. To deposit, go to the navigation bar at the top of the website and click Assets then Deposit. You will then be given a deposit address that you will copy and navigate to your favorite wallet. After the deposit has reflected, you can trade it with Ethereum.
Bitmax is one of the best cryptocurrency exchanges with a modern and secure touch. It is an innovative next-generation digital asset trading platform with a mission to support financial market innovation and advancement of the crypto economy. Bitmax is among exchanges that support margin trading for various cryptocurrencies. The platform supports, Bitcoin, Ethereum, and several stable coins like USDT.
To get started, you need to create an account with Bitmax by providing your email address. You will have to undergo verification processes like Know Your Customer. The platform emphasizes the protection of user accounts.
You will then deposit your favorite cryptocurrency and trade it for Ethereum. At the moment, Bitmax does not support fiat deposits. For example, you can deposit Bitcoin and exchange it for Ethereum. Login into your account and click on My Asset, choose the deposit button, select the token you would like to deposit for example Bitcoin. Click deposit, where you can copy deposit address or scan the deposit QR code to deposit BTC. When the deposit has been confirmed, it should reflect instantly. You can then place a trade and exchange it for Ethereum. Bitmax also comes with support for mobile application compatible with both Android and iOS devices.
Ethereum is a cryptocurrency on the rise. There are several ways to own this asset. Buying from cryptocurrency exchanges is the best way considering that mining Ethereum is no longer profitable. However, before you settle on any exchange, look at their security features since that’s vital when it comes to cryptocurrency investments. Additionally, if you are not planning to trade Ethereum, you should transfer it to an offline wallet. Generally, exchange wallets can be susceptible to hacking. Lastly, find out if the exchange is operational in your country.
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