Buy Ethereum Classic (ETC) with Credit or Debit Card Online Instantly

Ethereum Classic Purpose

The mission of Ethereum Classic is to preserve the original vision of Ethereum, which is to design unstoppable applications. This vision is based on the belief that "Code is Law." Ethereum Classic aims to maintain the principles and values that the original Ethereum project was founded upon, ensuring that applications built on its platform remain censorship-resistant and decentralized. By upholding the idea that code forms the basis of the rules governing the platform, Ethereum Classic strives to provide a trustworthy and reliable environment for developers and users alike.

Ethereum Classic vs. Ethereum

Ethereum Classic and Ethereum used to be a single project founded by Vitalik Buterin, but the original blockchain split into two networks in 2016 because of a disagreement over how to handle a major hack that resulted in the theft of millions of dollars worth of Ether (ETH).

In 2022, Ethereum developers transitioned to Proof of Stake, while Ethereum Classic developers maintained the use of Proof of Work. The Classic version continued to operate on the original Ethereum blockchain, while the majority of the Ethereum community moved to the newer ledger, presently known as Ethereum.

Other than their ways of reaching consensus, ETC and ETH are still very similar in terms of technology. Ethereum Classic also keeps compatibility with the Ethereum Virtual Machine (EVM), which means that contracts created for Ethereum can also be easily used on Ethereum Classic.

The Ethereum Foundation supports the development and advancement of the Ethereum blockchain, while Ethereum Classic is a continuation of the original Ethereum blockchain, which did not undergo a contentious hard fork.

How Does Ethereum Classic Work?

Ethereum Classic (ETC) operates similarly to Ethereum (ETH) in terms of fees and mining. Just like ETH uses gas fees to power its smart contracts, ETC utilizes ETC fees as the fuel to keep its operations running smoothly. Miners, who solve complex puzzles using powerful computers, are rewarded with these gas fees.

However, there is an important distinction between the two. While Ethereum is shifting from traditional mining to a new system called "proof of stake," Ethereum Classic intends to stick with traditional mining even after Ethereum's migration.

In terms of issuance, both ETH and ETC reward miners with new coins as new blocks of transactions are added to the blockchain. The main difference lies in the maximum supply. Unlike ETH, which does not have a fixed supply, the ETC digital currency has a maximum limit of 210,700,000 units.

Ethereum Classic (ETC) is a mineable cryptocurrency. It utilizes a proof-of-work consensus algorithm, similar to Bitcoin, called Ethash. Miners solve complex mathematical puzzles to validate transactions and secure the network. As a result, new ETC coins are created as a reward for mining. This mining process involves using computational power to compete with other miners and earn ETC tokens.

Who Created Ethereum Classic (ETC)?

The history of Ethereum Classic can be traced back to the establishment of the Ethereum blockchain as a single network that facilitated transactions using the cryptocurrency Ether or ETH. This network quickly gained popularity, particularly for initial coin offerings, as various teams utilized the platform to launch their own tokens.

One notable ICO on this network was The DAO, a decentralized venture fund where investors voted on which assets to invest in. The DAO managed to accumulate more than 11 million ETH from over 18,000 investors. However, the fund fell victim to unknown hackers who exploited a smart contract bug, enabling them to withdraw approximately one-third of The DAO's Ether coins.

Given the magnitude of the hack, a debate emerged among investors regarding whether the Ethereum blockchain should be reversed to recover the stolen funds. Some believed that reversing the blockchain for a bailout would set a dangerous precedent for future incidents.

Ultimately, a poll was conducted, and an overwhelming 97% of the Ethereum community voted in favor of executing a hard fork to restore the lost funds. This decision resulted in the Ethereum network splitting into two separate blockchains.

The newer network retained the name Ethereum, leveraging the cryptocurrency ETH or Ether. Meanwhile, the older network became known as Ethereum Classic, utilizing the cryptocurrency ETC. This split resulted in the appearance of independent blockchains, each with its own community and development path.

How Is Ethereum Classic's Market Price Determined?

The current market cap of Ethereum Classic is hovering around the $2 billion dollar mark, with an average price of the coin being $20 (While the Ethereum price exceeds a thousand dollars). A high market cap implies that the asset is highly valued by crypto traders and investors.

The market price of Ethereum Classic (ETC) is determined by various factors. Supply and demand play a vital role in influencing the ETC price. If there is high demand for the ETC coin and limited supply, the price tends to increase.

Conversely, if demand drops or more ETC tokens enter the market, the Ethereum Classic price may decrease. Market sentiment, investor speculation, and overall market trends also impact ETCs price.

Mining can impact the price of Ethereum Classic (ETC) as powerful computers are used to mine ETC, thereby increasing the circulating supply of the cryptocurrency. This influx of newly mined ETC can potentially lead to downward pressure on its price, as an increased supply may outpace demand.

News, technological advancements, trading volume, regulatory developments, and competition can significantly influence the current price of Ethereum Classic. Traders and investors analyze these factors to make informed decisions, which collectively shape the ETCs price in the cryptocurrency market.

Why Buy Ethereum Classic (ETC)?

There are several reasons why users find Ethereum Classic ETC an attractive investment opportunity:

• ETC Is Sound Money. Ethereum Classic is considered sound money due to its characteristics as a scarce, durable, costly to create, portable, divisible, fungible, and transferable coin. Its fixed monetary policy ensures a maximum of 210,700,000 units, providing stability and trust for users.

• ETC Is Programmable. ETC's native cryptocurrency is programmable through smart contracts, allowing for the creation and execution of decentralized applications (dapps). This programmability offers versatility and utility for developers and users alike.

• ETC Is Good Business For Miners. ETC is the largest proof-of-work smart contract blockchain, attracting miners who profit from its market capitalization and potential. This mining activity contributes to the security and decentralization of the network.

• ETC Is Good Business for Economic Nodes. Economic nodes, such as exchanges, wallet providers, and block explorers, generate revenue through their participation in the Ethereum Classic network. ETC's wide usage and presence on top exchanges and wallet brands make it an attractive choice for businesses.

• ETC Is Good for Global Users. ETC is secure, immutable, permissionless, and censorship-resistant on a global scale. It serves as a refuge for those seeking to escape a world controlled by centralized entities. The demand for decentralized computing and money is expected to rise, making ETC a valuable asset.

Best Ways to Buy Ethereum Classic (ETC) Safely

You can find Ethereum Classic (ETC) on many different cryptocurrency exchanges, both centralized and decentralized. You are free to use fiat currencies like USD or EUR, or other cryptocurrencies, to make your purchases.

Changelly is a user-friendly crypto exchange platform that is designed with users’ benefits in mind. For instance, transactions are executed at industry-low fees. We also ensure the best rate guarantee by integrating with the largest crypto trading providers, so you can compare and pick the best offering for your transaction.

Please note that Changelly is an exchange platform, not a crypto storage service. All transactions must be initiated from your own software wallet, and you should provide the correct wallet address when buying or selling digital assets with us. We can help you get a wallet instantly if you don't have one, as we partner with the most reputable wallet providers, like Ledger Live, Exodus, and Trust Wallet.

How to Buy Ethereum Classic (ETC) with a Credit or Debit Card

Many crypto exchanges support ETC trades and accept debit or credit cards. Here's how you can purchase Ethereum Classic with credit or debit cards:

1. Create an account with a well-established cryptocurrency exchange like Changelly.

2. Complete the Know Your Customer requirement by providing your personal details and doing photo identification.

3. After registration, go to the "Buy Crypto" area and select the ETC Token as your desired crypto asset.

4. Choose "Credit/Debit Card" as your payment method.

5. Specify how many Ethereum Classic coins you want to receive and enter your card details.

6. The online calculator will show you the total amount of ETC you'll get based on the USD price or other fiat currency you're using.

7. Carefully review the transaction’s preliminary data, including any fees, and confirm it if you are happy with its terms.

8. Once your payment is processed, you'll see Ethereum Classic coins in your exchange account on the same platform.

9. If you're using a non-custodial cryptocurrency exchange like Changelly, the purchased ETC will be sent to the wallet address you provided during the transaction setup.

How to Buy Ethereum Classic with a Bank Transfer

Wire transfers offer a secure and familiar way of purchasing digital assets like ETC. Many reputable crypto exchange companies, including Changelly, welcome customers who are willing to pay right from their bank accounts.

You can buy Ethereum Classic directly by transferring funds from your bank account to that of a selected crypto provider. The process will consist of the same steps as when using regular credit or debit cards, namely:

• an account setup,

• identity verification,

• and the launch of the ETC purchase, where you pick “Wire Transfer” as your preferred payment option.

Although bank transfers may take a few days to process, they generally offer lower fees compared to other payment schemes like debit/credit cards.

How to Buy Ethereum Classic with Apple Pay or Google Pay

Google Pay and Apple Pay provide a user-friendly option for purchasing cryptocurrency on the go. With a few simple taps on their smartphones, users can quickly buy items and benefit from advanced security measures like fingerprint or face recognition.

Just install the financial app on your iOS or Android device, connect a credit/debit card (or another payment system) to your mobile wallet, and ensure you have enough funds to cover an investment.

Next, find a trusted cryptocurrency exchange like Changelly that supports Ethereum Classic and accepts Google Pay or Apple Pay. Download their app too, open an account, and verify your identity.

In the exchange app, start a process of buying Ethereum Classic and select Google Pay or Apple Pay as the payment method. Review the payment details and confirm the transaction. Your ETC coins will be delivered quickly to your trading account or crypto wallet.

How to Buy Ethereum Classic with PayPal

Customers in the United States and certain US territories can buy, sell, send, and securely store five cryptocurrencies on their PayPal accounts. These include PayPal USD (a stablecoin), Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. The financial network does not offer support for other cryptocurrencies like Ethereum Classic as of now.

To purchase Ethereum Classic with PayPal, you can resort to P2P marketplaces that help you buy or sell cryptocurrency by interacting with other people in real time.

Some crypto brokers and digital asset exchanges may also support alternative funding schemes, such as PayPal, so do your research if you want to incorporate your PayPal funds into buying ETC.

How to Buy Ethereum Classic from an ATM

To buy ETC from an ATM, you'll need to follow a two-step process. First, purchase Bitcoin (or other assets) with US dollars or other cash using the ATM. Then, you can swap your Bitcoin for Ethereum Classic (ETC) through an online platform like Changelly. Although this method is feasible for buying crypto like ETC, it can be time-consuming and tedious.

How to Buy Ethereum Classic with Cash

When you want to involve classic money for purchasing ETC, your options are quite numerous:

• Peer-to-Peer (P2P) platforms. Use P2P platforms to find sellers willing to trade ETC for cash. Meet in person to conduct the transaction.

• OTC (Over-the-Counter) trades. Find OTC trading desks or brokers that facilitate cash transactions for ETC. They can match you with a seller and handle the transaction process.

• Local cryptocurrency meetups. Attend local cryptocurrency meetups or events where individuals may be willing to sell ETC for cash. Network with like-minded individuals and negotiate a deal.

• Friends or acquaintances. Reach out to friends or acquaintances who may already own ETC. Offer cash in exchange for ETC directly.

• Crypto Vouchers. Search for services that offer ETC crypto vouchers or gift cards that can be purchased with cash. Redeem the voucher on the respective platform to acquire ETC.

How to Purchase Ethereum Classic (ETC) with a Prepaid Card

Prepaid cards, also known as pay-as-you-go or everyday cards, are used for purchasing goods and services, similar to debit and credit cards. To purchase Ethereum Classic cryptocurrency with a prepaid card:

1. Choose a reputable crypto exchange or trading platform that takes prepaid cards for crypto investments.

2. Create and verify your account.

3. Find "ETC" in the list of tradable products.

4. Click "Buy" and choose the desired amount of ETC.

Pros of buying Ethereum Classic with a prepaid card include instant purchases, anonymity, and limited spending to card funds only, protecting against debt and hacking risks. However, cons include potentially high fees, limited availability of exchanges accepting prepaid cards, and potential restrictions on the amount of Ethereum Classic obtainable.

What Can You Buy with Ethereum Classic?

Ethereum Classic (ETC) is recognized by various businesses and service providers as a payment method. Notable examples include:

• Bitrefill: it allows you to purchase gift cards for popular retailers using ETC.

• Travala: a travel booking platform that accepts ETC for hotel and accommodation bookings.

• Cheapair: An online travel agency that accepts ETC for flight and hotel bookings.

• Uquid: it offers a wide range of products and services that can be purchased with ETC, including virtual Visa cards, mobile top-ups, and more.

• Rocketr: an e-commerce platform that enables sellers to accept ETC for their products and services.

• Nowpayments: a crypto payment gateway that allows businesses to accept ETC as a payment method.

Where to Store Your Ethereum Classic Crypto?

To securely store your ETC investment, it is important to have a compatible wallet.

Web wallets, available through broker and exchange platforms, provide convenient storage, but are not the most secure option, as your private key data is managed by a third-party.

Mobile wallets, designed for use with mobile devices, offer better security but can still be vulnerable to hackers. Ethereum Classic Wallet is the official mobile wallet, while Exodus and etcwallet net are other popular solutions.

Desktop wallets, although less convenient, provide enhanced security features and protocols. Metamask and Mist are well-known desktop software wallets compatible with Ethereum Classic.

Hardware wallets provide a higher level of security compared to software wallets. They store private keys in a secure hardware device, which makes it extremely difficult for unauthorized access or data transfer to occur. Hardware wallets are alternatively called cold wallet storages because they are offline. They are also immune to viruses and provide the option to validate wallet operations. Ledger Nano is the most popular hardware wallet for Ethereum Classic.

How to Cash Out Ethereum Classic?

You can sell Ethereum Classic for fiat money through the same avenues used for buying cryptocurrency, namely via crypto exchanges like Changelly, p2p marketplaces, crypto brokers, and OTC desks.

For a more innovative approach to trading ETC for cash, you can try crypto-based cards and crypto gift cards. Crypto-based cards function as a payment card linked to a cryptocurrency wallet, allowing users to spend their ETC like traditional currency at merchants accepting the card.

Bitrefill and CoinGate offer crypto gift cards for popular retailers such as Amazon, Walmart, and Airbnb. By using ETC tokens to buy these gift cards, you can exchange your digital assets for goods or services, bypassing traditional banking systems.