A special place in the group of cryptocurrencies is occupied by Ethereum (also called ETH, Etherium, and Ether). The creator of ETH is a programmer of Russian origin Vitaly Buterin, who lives in Canada. Ethereum is ranked #2 in the world in terms of capitalization and is becoming a promising source for investing money.
You can buy Ethereum on special cryptocurrency exchanges or through exchangers, which we will now tell you more about.
Where to buy Ethereum
To buy cryptocurrency, you need to use exchanges or exchangers. And you can pay in dollars or rubles. These operations are available to both PC users and owners of mobile devices.
States and central banks cannot influence the value of cryptocurrencies. Therefore, the volatility of such coins is determined by investors themselves. In order to trade Etherium successfully, it is important to study the market and conduct a thorough analysis of the rate of this currency.
If we talk about exchanges in general, they are characterized by the following advantages:
- the most profitable rate;
- high security level of the account;
- effective monitoring of graph of change in the value;
- big trading volume.
- The best platforms to buy Ethereum
Best platforms to buy Ethereum
When determining the best services for buying Ethereum, we tried to be guided by objective criteria. We took into account the benefits the user receives, as well as the credibility and reliability of the platform.
Such platforms include the following: Avatrade, Binance, Bitmex
CFD broker Avatrade is registered in Ireland and was founded in 2006. The company is a sponsor of Manchester City Football Club. The broker has licenses in Ireland, Canada, Japan, Australia, South Africa and other countries. Available for trading are 1250 different instruments – CFDs on stocks, currencies, commodities, indices, as well as cryptocurrencies, including Efirium.
Among the advantages of this service are:
- user-friendly interface;
- very low spreads;
- support for users in their native language;
- availability of accreditation in 6 jurisdictions.
Traders have innovative trading tools at their disposal. With their help, they can find out the latest information about the state of the crypto market, make timely decisions on transactions. There is a special mechanism of protection against losing trades.
Mobile applications that work from anywhere in the world are at your service. The support service deserves a special mention: its specialists will answer you in Russian. On weekdays, the online chat is available 24 hours a day. This is a very reliable platform with convenient functionality. Client funds are protected by special accounts and licenses.
Binance Cryptocurrency Exchange
This is a reputable platform for buying, selling and exchanging cryptocurrencies. The exchange was opened in 2017 in China and quickly managed to take a leading position in this area.
Today, the site is used by 37 million traders. Up to 1 million people and more make transactions here every day. The site is designed for international trading, so it has 21 language versions. This platform is actively promoted among the Russian-speaking audience.
The advantages of Binance include the following points:
- leadership among crypto exchanges;
- smart contracts
- convenience and functionality of the site;
- ease of registration on the site;
- the ability to trade in a 24/7 mode;
- wide choice of products;
- a variety of options for funding your account;
You only need to make a few steps to buy Ether for rubles. Payment transactions are made instantly, and you can be sure that your funds are safe. This is ensured by a multi-level security system and a special SAFU fund. Binance is the cryptocurrency exchange with the largest commodity volume. This also applies to the trading of Etherium. The platform gives the user an excellent opportunity to buy this electronic money.
Traders can do with Ethereum as they see fit. Some prefer to store it in a Trust Wallet because it is very convenient and secure. Others use ETH for trading. In addition, the site offers up to 150 trading pairs for that. You also have the option to justify your assets worldwide. In order to transfer digital currency, you need to specify the appropriate Ethereum address. Additionally, Ethereum is often used to pay for goods and services. Today, many companies are starting to accept digital money.
There are also a lot of useful articles and other tutorials on the website, where users learn new things about the cryptocurrency market and how to work with it. This information will be especially useful for inexperienced traders.
Among the disadvantages of the exchange Binance are:
- The exchange has been subjected to hacking. This is a very significant disadvantage;
- traditional risks when trading cryptocurrency;
- insufficient consideration of force majeure factors;
disadvantages of the Russian-language version of the site (the quality of translation is not performed at a high level everywhere).
This is an exchange for trading cryptocurrency and derivatives, founded in 2014. Its head office is located in Hong Kong. The platform is considered one of the best for cryptocurrency trading. On average, transactions totaling $3 billion are made on the exchange every day.
The site has 5 language versions: English, Chinese, Russian, Korean and Japanese. This makes it easier for the trader to navigate. After registration and account activation, you can start trading. Deposit and withdrawal transactions are made exclusively in bitcoins. USD is used as the fiat currency. Ethereum is one of the most common digital currencies on this site.
Among the advantages of the service are the following:
- optimal commission size (0.025-0.075%);
- trading with leverage up to 100:1;
- a variety of trading instruments.
This is the floor where you can be confident about the safety of their own funds. During all the time of existence of the exchange, it has never been hacked, which indicates its high reliability. Up-to-date information material allows you to follow the state of the market. You can analyze and make decisions about Etherium trades accordingly.
Beginners get a chance to practice on a special demo platform. This is a great option to help them understand how the exchange works. Once they get the hang of it, novice traders are able to conduct full-fledged transactions.
The disadvantages of the exchange include:
- complex interface;
- small choice of trading pairs;
- The limited options for deposit and withdrawal.
At the same time the interface contains numerous tools to help traders. So it is still worth to understand the specifics of the platform. The limited choice of trading pairs won’t be a problem either. This will not prevent you from selling and buying Etherium. So, such disadvantages are not decisive.
Perhaps, among the best services for buying cryptocurrency, you can also name other platforms. However, we have limited ourselves to this list. You are free to choose the service that you think is best for you.
How to buy Ethereum
Purchasing ETH on the exchange usually involves the following algorithm:
- switching to a wallet;
- choosing the payment method;
- Specifying the currency pair;
- completing the purchase.
And you can create a wallet before registering on the exchange. This is done on the website of the cryptocurrency itself. Or the account is opened automatically at the moment of registration.
The wallet can be replenished by cards or electronic systems, as well as the withdrawal of funds to them. To enter it you need a password and a special key. Before you buy Ether you need to specify the card or payment system. After that, choose a currency pair (for example, rub/eth) and specify a specific amount. In the final step, all you have to do is click on the generated offer and click on “Buy”.
Buying ETH through exchangers
You can also buy through cryptocurrency exchangers. Such sites are characterized by the simplicity of operations. Usually, there is no verification required, just a simple registration. This is a fairly quick way to purchase ETH, and the transaction requires a minimum of action.
However, such services also have some disadvantages:
- unprofitable exchange rate;
- the limitation on the amount of transactions;
- there may be a limit on the minimum amount of purchases;
- high risk of fraud.
When buying on the exchange, these disadvantages do not exist. This does not mean that now you cannot buy Ethereum through exchangers at all. However, you should pay attention to the authority and reliability of the service. It is better to deal with sites that are trustworthy.
For this reason, it is better not to buy Ethereum from private individuals. In such transactions, there is no commission to the intermediary, due to which both parties benefit. However, the risk of fraud is the highest here. There is an objective difficulty to find reliable sellers of ETH.
Buying Ether via card, e-wallet and not only
It is also possible to buy Etherium by bank transfer in exchangers. For this purpose, “plastic” from Sberbank, VTB, Alfa-Bank, Tinkoff are often used. And it is possible to use a credit or debit card. This way it is possible, for example, to buy Etherium through Sberbank online.
Another way to buy is to use the wallets “Umani”, “Webmani” and “Kiwi”. The user goes from there to the exchanger and buys ETH. There is an option when bitcoins are bought first, and then they are already entered into the exchange to purchase Ether. However, this strategy is not considered profitable.
The foreign currency option is also used to trade Etherium. The operation is performed on the website of the exchanger. If you have a dollar account, the costs will be less than when exchanging rubles for currency.
Ether is also traded on social networks and various forums. You have to be very careful approaching this kind of trading, because the risk of running into a scammer increases a lot. There are honest sellers and buyers at such exchanges. But you have to be vigilant and not make a decision in a hurry.
How to sell Ethereum
There shouldn’t be any difficulties with selling Ethereum. You can perform this operation at the same place where you made the purchase. For example, do it on an exchange. To do this, go to the exchange and start tracking down the most profitable offers for ETH. Go to your account and sell the cryptocurrency for rubles, and then safely withdraw the money to your card.
Selling through an exchanger is also quite easy. In addition, this method is faster. The main thing is that the service should be reliable, and the commission – small. Carefully study the reviews and reviews, and then decide whether to sell or use another option.
There are no intermediaries on forums, so they sell ETH without commissions. But it’s risky to make transactions at these sites. It’s easy to run into scammers and get left without ETH and money.
How to Store ETH
There are several ways to store Ether, among them the most reliable are considered to be:
- an exchange account;
- a wallet on an Etherium website;
- a wallet on your PC.
That said, you don’t need to keep all of your coins in one place, as that increases your risk. Experts recommend spreading ETH into different wallets. If you don’t intend to trade the cryptocurrency, you shouldn’t store it online. It is better to gradually withdraw ETH to your bank card, exchanging it for the desired currency before doing so. If you want to make money on exchange rate differences, make sure not to lose on commissions during exchange operations.
The safest way to store Etherium is to download the wallet to your computer. You can do this from the official Ethereum website. However, you must have enough memory on your PC because the program weighs about 80 GB. There is a special instruction for downloading it. You will need to get the key and then unzip the file. It is extremely important to use the wallet correctly. Otherwise, you risk losing access to your money.
When working with cryptocurrency, there are various risks. The trader can lose his capital, which is a consequence of mistakes made. This occurs as a result of an incorrectly chosen strategy and other miscalculations. Many of them can arise out of inexperience. For example, some investors are too enthusiastic about using leverage without thinking of the possible consequences. This can lead to serious financial losses in the unfortunate outcome.
The cryptocurrency market is characterized by unpredictability. No one knows what will happen to Etherium next. High volatility is a double-edged sword: Ether can rise or fall. Right now it is characterized by a stable growth, but then the situation can go in different scenarios.
Even the most competent analysis is just an attempt to predict the course of events. The analytics of the trader always contains an element of risk, because it cannot give a 100% guarantee of success. Even the most stable exchange can close. If that happens, you will lose your money. There is no state regulator on cryptocurrency market, so in case of force majeure, you will not be able to claim your digital money from someone.
Safe Ethereum trading and smart contracts
What are the best recommendations for a trader to follow when trading with Etherium?
- Make legal trades on verified exchanges that have a good reputation.
- Be guided solely by analysis, rather than acting on impulse.
- Choose your strategy carefully, and implement it.
- If you are a beginner, do not use leverage.
- Start with small amounts of money and gradually increase them.
- Take a flexible approach, but it should be consistent.
- Choose the best way to make money on Etherium.
Of course, no one forbids using exchangers. However, such services have less serious legal criteria. Therefore, such sites are not as reliable as exchanges. Serious platforms provide verification of participants, which practically excludes fraud.
However, a trader still needs to carefully analyze the market, since the risk of losing the deposit remains. A novice investor should not trade Etherium using leverage. Otherwise, you risk not only losing your funds, but also remaining indebted to the exchange.
Choose the right platform to trade ETH, study the features of this service and decide on your strategy. Some prefer to earn on usual Ether purchase and sale, others make smart contracts for difference or choose another way.
Digital Currency Prospects
ETH has gained popularity in recent years, although it is perceived ambiguously by many nations. The first e-money transactions began in 2011. Today, in addition to bitcoin, there are 750 different cryptocurrencies, including Ethereum.
Experts believe in the great prospects of Ethereum. So ETH will be a good option for investment. It makes sense that Ethereum has high liquidity and is in demand in the market.
This is due to objective factors. The popularity of digital money continues to grow, because of which the market has great opportunities. Ethereum also has a great weight in the segment of cryptocurrencies.