How to Invest In Ethereum (ETH) – A Beginner’s Guide, Reviews & Step-by-Step Tutorials
Ethereum is one of the most popular cryptocurrencies just behind bitcoin. However, its adoption by many institutions and its usefulness by many startup companies has seen its value rise since its inception. Given its popularity and its alternative avenue in storing value aside bitcoin, Ethereum is fast becoming another wealth creation avenue.
It is, however important to note the risk associated with investing and the potential it holds for the creation of wealth. Depending on what you require Ethereum for, both trading and investing are the main ways through which you can increase your wealth.
Ethereum Trading vs Investing
There is a difference between trading Ethereum and investing in Ethereum. Trading takes place more frequently than the investment process.
In most cases, the trading process involves holding your ether currency in an online exchange platform to facilitate quick and fast transactions. However, as it concerns investing, you might have to get an Ethereum supported wallet to store your ether for the investment period.
How to Invest In Ethereum or Trade ETH
Investing in Ethereum and trading with them can be achieved in a few straightforward mechanisms. Here are some of the platform on which you can trade or invest your ETH.
This is one of the easiest platforms on which you can trade your ETH currency. Here are the required steps for investing in the Coinmama platform
Step 1: register and open an account on the Coinmama platform
Step 2: Select your payment method to deposit and withdraw money
Step 3: read the necessary instructions and terms of usage
Step 4: Complete payment transaction and confirm the wallet address provided.
Pros Of Coinmama Platform
- It supports different credit and debit card for payment
- Available in most countries
- Extensive support to aid customers to solve any issue that may arise
Cons Of Coinmama Platform
- Only exist in the English language
- High transaction rate
Coinmama Payment Methods
Coinmama platform accepts payments from both online card payment and cash payment using fiat currency. It could also be traded with other cryptocurrencies for the required monetary value.
Here are some of the useful step for buying Ethereum on Gemini
Step 1: Create an account
Step 2: Account confirmation
Step 3: Two-way authentication for your account
Step 4: Bank account updating
Step 5: Verification process
Step 6: Add some funds to your account
Step 7: Start trading
Pros Of Using Gemini
- Lower transaction fee
- User optimized interface for a user-friendly experience
- Gemini allows buying with a bank transfer
Cons Of Using Gemini
- It only offers Ethereum and bitcoin cryptocurrency for trading
- It has a limited selection of method for funding
Gemini Payment methods
Gemini platform accepts payments from bank transfer payment. It could also be traded with other cryptocurrencies for the required monetary value.
This is another well-known avenue through which Etheretum could be bought and sold. Here are the required steps needed to set up your account on LocalBitcoins
Step 1: Register as a new member on localbitcoins
Step 2: Search for your desired cryptocurrency
Step 3: Select your desired digital asset to buy
Step 4: Pay the seller
Step 5: Mark the transaction as complete upon completion
Pros Of Using LocalBitcoins
- An easier way of buying and selling your ether
- Low transaction rate for a transaction
Cons Of Using LocalBitcoins
- Can only be used to trade a few selected coins
- Extra care is required in choosing who to buy or sell from
Payment Method On LocalBitcoins
LocalBitcouns accepts a wide range of payment methods. Although some methods are rather expensive, the most used one is the BTC.
Buying and selling or investing directly on ether and Ethereum platform, in general, is an advisable way of growing your wealth. Due to their valuations, these ethers are always increasing in their valuation and hence a great investment opportunity.
Be sure to transfer your coins to one of our recommended best Ethereum wallets in order keep them out of exchanges and out of the hands of hackers.