A few words on Ethereum
The Ethereum platform is designed to create and operate decentralized blockchain-based applications using smart contracts.
The platform’s internal currency is ETH or ether. ETH tokens are used not only as a unit of account. They also guarantee the execution of smart contracts, playing the role of such a “fuel” for the network.
Ethereum is one of the most flexible and popular cryptocurrencies. It is able to perform all the same functions as Bitcoin:
- Payment instrument;
- Asset storage form;
- Investment asset.
The use of smart contracts and a different algorithm make Ethereum blockchain one of the best solutions for decentralized application building.
Ethereum (ETH) Wallets
Before you purchase Ethereum, you need to have a reliable crypto wallet. There are various types of wallets available, including web, mobile, and desktop wallets.
- MyEtherWallet is the official ETH wallet that works as a web-based solution;
- Use Jaxx, Coinomi, or as a mobile wallet;
- Ethereum can also be stored on such wallets as Exodus, MetaMask, Mist.
Check out the full list of the best Ethereum wallets here.
Where to buy Ethereum (ETH) cryptocurrency?
Ethereum (ETH) is sold on a large number of cryptocurrency exchanges. You can buy it for BTC, ETH, and other altcoins. On some platforms, you can buy Ethereum with a credit card (USD, EUR).
How to buy Ethereum with Credit Card
Using a banking card, you can buy ETH directly: it’s sold on such platforms as Coinmama and Cex.io. Alternatively, you can purchase Tether or Bitcoin and change it to ETH. ETH/USD pair is present on such platforms as Kraken, Gemini, Bitfinex, and CoinbasePro,
Buy Ethereum (ETH) with USD on Changelly
You can buy Ethereum (ETH) on Changelly in a couple of clicks using your credit card. Visit this page, specify the amount of UDS or ETH you need, and proceed with the payment process. Enter your ETH wallet address, specify details and personal information, pay, and you’re done.
Buy Ethereum on a crypto exchange
You can buy Ethereum online for crypto on Changelly for crypto in a couple of clicks. Visit Changelly website, specify the amount of ETH you need, the cryptocurrency to pay with, and proceed with the payment process. Enter your ETH wallet address and the wallet of another cryptocurrency, specify details and personal information, pay, and you’re done.
Click on the links to:
How to buy ETH with PayPal?
How to buy Ethereum if you want to use online payment systems like PayPal? Currently, the PayPal method is not widespread yet as most cryptocurrency exchanges do not accept PayPal payments. However, you can buy Bitcoin with PayPal on several exchanges and then exchange it to ETH cryptocurrency. Currently, the following platforms accept PayPal crypto purchases (some allow for buying Ethereum right on the platform):
- Local Bitcoins charges a 1% fee on every transaction that the seller has to pay.
- Wirex Card does not charge for inner transactions but requires a maintenance fee of $1.50 per month. But when you use Wirex Card to withdraw cryptocurrencies, a $3.50 fee is applied to each transaction.
- VirWOX PayPal fees are 0.35 EUR + 3.4% when it comes to depositing in addition to the conversion fees and withdrawal of your ETH.
- Paxful fee is 1% per trade (paid only by the seller). Withdrawal fees are fixed at 0.0005 BTC (or the equal sum in altcoins when you work with other cryptocurrencies).
Is it safe to buy ETH with cash?
If you want to buy ETH with cash, you can do it on the platforms supporting P2P crypto transactions, for example:
P2P platforms eliminate the middlemen from transactions, so you will need to work with the seller/buyer directly. In order to buy ETH, you will need to place your order and wait for a seller to appear. Once a person accepts your offer, he will send you XRP after you send fiat currency. This is where a lot of fraud happens. While crypto operations are irreversible, fiat transfers can be canceled, so there’s a risk you can stay without your crypto.
You can mine Ethereum using graphic units, or join a mining pool. However, pretty powerful GPUs or ASICs are required – the mining difficulty of ETH is pretty high!
Use the following programs:
- Claymore Dual Miner simultaneously produces two cryptocurrencies. At the same time, the mining speed does not change.
- NiceHashMiner is a self-tuning program. Here you can mine electronic currency not only by the processor but also by the video card.
- CgMiner is a mining console. This program is suitable for more experienced miners.
Should you buy Ethereum now?
Considering the fact that Ethereum is the world’s second cryptocurrency, it was and is still a good long-term investment, as well as a trading tool. During the last few months, the Ethereum price held between $150-210, and the current Ethereum price ($186,96 as of 14/11/19) is still an optimal entry point for traders – 2020 promises to be full of advances for Ethereum which should raise its cost.
If you still think “Should I buy Ethereum?” don’t forget to check our Ethereum price prediction.
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.