How to Buy Ethereum (ETH) – 5 EASY Ways To Purchase ETH from Recommended Cryptocurrency Exchanges
Do you know what the most trending topic in today’s day and age is? Hmm. Take a guess. Yeah, you are right the crypto space. Huge applause for all those who guessed it right.
In this article, we’ll take a closer look to the solution that opened the door to a global financial system where an Internet connection is all you need to access products and services without the need for third parties and without the risk of censorship. Ethereum!
What is Ethereum?
Ethereum is one of the latest technologies to join the World Computer movement.
While bitcoin aims to outface PayPal and banks, Ethereum has the goal of using a blockchain to replace internet 3rd parties (speaking about those that store data and keep track of complex financial plans).
With Ethereum , servers are replaced by many of so-called “nodes” run by volunteers from across the globe to form what’s called “world computer”.
The idea is that Ethereum would enable people to compete to offer services on top of this infrastructure.
What is Ether or ETH?
As stated earlier, Ethereum aims to function both as a kind of decentralized internet and a decentralized store, supporting a new type of application down the process.
But while no one holds Ethereum , the system that supports this functionality isn’t free. Rather, the network needs ether, a unique token that can be used to pay for the resources needed to run an application or program. Just like Bitcoin, ether is a digital asset.
Unlike traditional fiat currency, it doesn’t require a 3rd party to approve a transaction. But instead of operating as a digital payment, ether aims to be the “fuel” for the decentralized apps on the network.
You can think of a more concrete example of how coins might power a user experience.
Speaking about ether’s economy, 60 millions ETH was bought by crypto traders and enthusiasts from its crowdfunding campaign held in 2014. 12 million more was reserved for the Ethereum Foundation.
Also, every twelve seconds, 5 ETH coins are put aside for the miners responsible for verifying the network’s transactions. That’s more than 18 million ether going to miners yearly.
Five ether are created every ~12 seconds, (whenever a miner discovers a block).
No one knows the exact number of ether yet, this will probably lead to a change in the rules of ether creation and mining process.
How to Start Mining Ethereum?
Getting started with Ethereum Mining is pretty simple. All you need is a Graphics Processing Unit (GPU) and you can start mining Ether instantly.
Ethereum mining is the process of solving complex mathematical problems. Unlike Bitcoin mining, Ethereum mining can be done with a GPU only.
Here are 4 Simple steps that you need to follow in order to mine Ethereum:
- Install your GPUs and configure your PC.
- Get an Ethereum wallet.
- Join an Ethereum mining pool.
- Start mining ETH!
How To Buy Ethereum with Credit Card or Wire?
How to Purchase Ethereum With Coinmama?
1. Sign up with Coinmama and open a new account.
2. Click on the confirmation link that will be sent to your mail.
3. Verify your account by uploading your passport, national ID or other documents based on your preferred level of verification.
4. Once your documents are approved, you can buy Ethereum (ETH) instantly for up to 15,000 USD with your credit or debit card.
5. Enter the desired wallet address, fill out the form and purchase Ethereum instantly.
How To Buy Ethereum With eToro?
1. Visit eToro and create an account using your Facebook or Google credentials.
2. Verify your account using official ID (e.g. a passport).
To fund your account, hit the “deposit funds” button and choose one of the variety of secure payment options.
3. Once you’ve loaded your account, decide how much you want to invest If you’re happy with the price, hit the “open trade” button To wait for a price change, select the order option.
4. This allows you to set a price so the software can execute the trade at a later date.
1. Open a Coinbase account.
2. Add our payment method.
3. Go to “Buy/Sell” tab and select the amount of ETH you want to buy.
4. Hit the buy button.
How To Buy Ethereum With Changelly?
1. Sign up to Changelly.
2. Specify the amount of ETH you need.
3. Proceed with the payment process.
4. Enter your ETH wallet address.
5. Specify details and personal information
Pay, and you’re done.
How To Buy Ethereum With Cex.io?
1. Open a CEX.io account.
2. Add your preferred payment method.
3. Go to “Buy/Sell” tab and select Ethereum.
4. Choose the amount of Ethereum you want to purchase.
5. Click on “buy Ethereum”.
How To Withdraw Ethereum To Your Wallet?
Depending on which wallet you’re using, to withdraw ETH, click “Withdrawal” in the main menu. Select “Ethereum”. Enter the withdrawal address, the amount of ETH to be withdrawn and click “Withdraw”.
Ethereum (ETH) vs. Ethereum Classic (ETC)
In terms of functionality, both chains are the same since they were born from the same chain. It is more of an ideological difference.
Ethereum Classic is the original chain and the new Ethereum represents the new chain which is an offshoot of the original blockchain.
Ethereum Classic is represented by ETC while Ethereum is represented by ETH.
The developers went on and developed the new chain, and now when we talk about Ethereum we’re referring to the new coing ETH.
Those that remained with the Ethereum classic – a small community – was ideologically opposed to any change imposed on the Blockchain, since they argued that its nature should not be changed.
Ethereum sits amongst some of the most popular blockchain projects. Ethereum has its own crypto coin, named Ether. Unlike other cryptocurrency coins, Ether is more than just a digital currency.
Within the Ethereum platform, developers and project owners can develop and launch smart contracts (DAPPS), thanks to the platform’s decentralize nature.
The applications’ codes have the ability to run without any downtime, censorship, fraud. More importantly, third party connections are necessary.