Blockchain technology has developed immensely, and it might get only better in the coming year. Ethereum is an open-source blockchain that has smart contract functionality with decentralization. Ether or ETH is the original cryptocurrency here. If you consider market capitalization, Bitcoin rules it. Ether comes only second to it.

The well-known programmer Vitalik Buterin had founded Ethereum back in 2013. The co-founders were Gavin Wood, Charles Hoskinson, Anthony Di Iorio, and Joseph Lubin. A crucial part of its development was crowdfunding, which helped it go live from mid-2015. It allows permanent decentralized applications on it that help the users to communicate.

Decentralized finance applications find wide usage. Ethereum is also popular as a currency to buy NFTs. Moreover, Ethereum has initiated quite a few upgrades to form Ethereum 2.0. This version incorporates a movement to prove a stake. It is also trying to improve transaction throughput by sharding.

1

What to Consider When Buying Ethereum?

When buying Ethereum, you should pay attention to the following.

The cost of buying Ethereum

At first, the cost of buying Ethereum must come up. The base price for this is really low. If you access it via Coinbase, based in San Francisco, you can buy Ethereum for as low as $25. Coinbase is an authorized dealer of Ethereum. Therefore, it is affordable and cost-effective.

Finding a reputable exchange

You can trade Ethereum in various reputable exchange platforms like Coinbase or Binance. These are arguably the best platforms for crypto trading. Other trusted exchanges that enable you to trade ETH are Robinhood, Gemini Exchange, etc.

Bonuses at crypto platforms

It is no new information that many casinos accept cryptocurrency for deposits and payouts. They also offer special bonuses and promotions for using cryptocurrency. Considering crypto platforms, AQRU supports ETH and offers a 7% interest, similar to BTC. Crypto.com allows an 8.5% interest for its ETH and BTC users per annum. Therefore, Ethereum gives staking rewards ranging from 5% to 21%.

Ideally, you will wish to sign up for a crypto wallet with some incredible bonuses. These include KuCoin, which gives a crypto bonus of up to $500 once you open a crypto account with them. The other wallet to check out is BlockFi which provides a bonus of up to $250 depending on the balance you maintain in your account.

Is the platform user-friendly?

The last factor that must come up in your mind while buying a cryptocurrency is whether the platform is user-friendly. As for Ethereum, the interface is very user-friendly. It is simple and easy for beginners to deal with.

2

Where to Get Ethereum?

There are many places from where you can buy Ethereum. Let us categorize them.

Cryptocurrency exchanges

You have some authorized exchanges to buy Ethereum, but each has a different specialty. Coinbase has the best overall features for purchasing cryptocurrency. Gemini Exchange is the best option if security is your priority.

You might go for Robinhood if you are interested in trades without commission. SoFi Active Investing, on the other hand, will give you maximum transparency. Finally, Binance US charges the lowest fees and if you are interested in mobile apps, go for Crypto.com.

Trading apps

All of the exchanges we have mentioned have mobile apps where you can trade or obtain Ethereum. Also, you can find them in both the Google play store if you use an Android device and the Apple app store if you use an Apple device. They would all need an allied bank account or debit/credit card. Many of these provide wallets to store cryptocurrency. They are also quite user-friendly.

Ethereum ATM

There are also ATMs from where you can cash out Ethereum. Last year, Bitcoin of America added Ethereum purchases to its ATMs. You can both buy and sell from these locations using Ethereum. Recently, in three Canadian cities, the first Ethereum ATMs have been set up for transactions by LocalCoinATM.

Brokerages

Brokers are often much more user-friendly than trading exchanges. Moreover, you can get features like leverage from the brokerages, but make sure you have enlisted yourself in a reputed one. With their help, you can buy Ethereum easily and quickly at a given price. You can also get “social trading” options from specific platforms.

The best brokerages for getting Ethereum are:

  • Pacific Union has the best reviews. The minimum deposit for this one is $50
  • Bitstamp, which can work with a zero deposit
  • BlockFi, which can also work with a minimum deposit of $0
3

The Steps of Acquiring Ethereum

There are a few easy steps that will help you acquire Ethereum:

  1. Choose a Platform to Buy Ethereum from

In the previous section, you will find a list of the best trading platforms and brokerages where you might choose to open an account. You will need to provide your full name, address, mobile number, email, and government-attested photo ID. Please note that Ethereum is one of the only cryptocurrencies available on Venmo and PayPal. You can, therefore, buy directly from these popular e-wallets as well.

  1. Decide on a Payment Option to Pay for Ethereum

To do this, you have to make a deposit. First, check if there is a minimum limit for deposit and act accordingly. If there is none, deposit whatever you want to. The payment options for Ethereum include credit or debit cards, e-wallets such as PayPal, Neteller, Skrill, and even other cryptocurrencies like Bitcoin, Litecoin etc. You can also link your bank account and transfer funds easily and securely to fund your crypto account.

  1. Place Your Order

Once your account is funded, you will be allowed to trade your currency for Ethereum. You just have to put in the amount of money you wish to trade in for Ethereum. Most likely, you will be buying fractions of one Ethereum coin. Still, it usually depends on the amount you want to invest and the market value of Ethereum at the time. The amount you inevitably end up purchasing will be shown as a percentage of a complete Ethereum coin.

  1. Receive and Safely Store Your Ethereum

Once the coins arrive on the Exchange, you can leave them in the exchange platform or place them in your wallet for future use and safekeeping. There are a ton of digital wallets available to store cryptocurrency, all with varying degrees of security.

FAQ

What is the best miner for Ethereum?

MinerGate is one of the best miners for Ethereum. Other miners to look out for are Wineth and Go Ethereum.

What is the best Ethereum wallet?

Trezor One is the best Ethereum wallet. Other popular Ethereum wallets include Coinbase and MetaMask.

Will Ethereum 2.0 be a new cryptocurrency?

No, it will just be a new model. It will also not change the amount of ETH you have in your wallet.

Also a question? Ask it here: