I know what you’re thinking about. Is Ethereum worth investing in? If it is, how to buy Ethereum?
There is a lot of confusion revolving around Ethereum. Put straight, Ethereum is a smart computer that makes ‘smart contracts’ with agents. These contracts are usually based on generating codes or programs.
The ‘smart contracts’ automatically verify the code or program once it’s developed. If the codes are perfect, the program will validate it, and the programmer will be awarded ‘ether.’ ‘Ether’ is the name of the currency. These contracts take place on a blockchain. So, they are traceable too.
As you can see, Ethereum is the future. It’s a technology way ahead of its time. It holds a lot of promise. You may hear that Ethereum the root behind tons of innovations. But does that make Ethereum something you should invest in?
Should You Invest in Ethereum?
As you already know, Ethereum is taking ‘smart contracts. This allows programmers to create tons of software and apps that are known as decentralized apps.
Moreover, Ethereum can later be used as a currency that isn’t bound nor controlled by any bureaucracy. As a result, different businesses and innovators will be using Ethereum for trading.
Furthermore, the world Economic Forum has estimated that within 2025, ten percent of the global GDP will be taken by Blockchain. As you can see, Ethereum is the future!
Another great thing about Ethereum is that unlike the famous applications such as Facebook, Twitter, Instagram, decentralized apps on Ethereum can show censored content. You might question the necessity or the safety of it.
But then again, if you consider what was accomplished due to people like Snowden and websites such as WikiLeaks, you’ll understand why we need a platform that can show censored content.
People thought that along with many other cryptocurrencies, Ethereum would disappear with the Crypto bubble of 2017.
They were wrong. With each passing moment, Ethereum is gaining momentum. Right now, a lot of amazing projects are being developed in Ethereum. All of these projects will turn out to be very fruitful when they are finished.
Suppose you’re still questioning yourself if you should buy Bitcoin or not. Ask yourself this. Do you plan to be ahead of the curve? Or will you be satisfied being backward?
The choice is yours to make!
How to Buy Ethereum: 2 Easiest Ways
You can buy Ethereum the same way you buy any other cryptocurrency. If you’re a complete beginner, don’t worry. I’ll break it down for you.
There are two ways you can buy cryptocurrencies. You can enlist in a brokerage or exchange platform, or you can get it through a peer to peer trading platform.
1. Peer-to-Peer Platform
In the peer to peer trading platforms, the platform that introduces you to the seller will take up a percentage from your assets. This is known as taker’s fee. The platform will help you find sellers, and you’ll have to do the rest yourself.
However, you’ll get an escrow service that’ll act as the middle man, so you won’t have to worry about being robbed.
Then there are the brokers. These are also known as exchange platforms. Buying Ethereum through a brokerage is easier than buying through a peer to peer platform.
In this method, you create an account in the exchange platform and link it to your bank account. Once your ID is activated, you can simply choose the amount of money you want to exchange. The rate will be given, and you’ll get the Ethereum in exchange for your cash.
Note that there will always be a percentage of the fee. Although you can’t avoid this fee, you surely can try to reduce it as much as possible. The most skilled and experienced Ethereum traders research the brokers first.
Then, they go for the platform that will offer them the highest profit over the longest tenure. So, in our guide of how to buy Ethereum, we’ll cover some of the most famous broker platforms as well!
The Best Ethereum Exchanges To Use in 2020
1. Cheapest Ethereum Exchange – Kraken
If you’re looking forward to buying Ethereum at the lowest cost, Kraken should be your choice. Kraken is a crypto exchange platform that has amassed quite a fame for itself. Based on the United States, Kraken can’t be used by citizens of Iran, Iraq, North Korea, Cuba, etc. Interestingly, the people of Japan can’t use Kraken as well.
However, Kraken is supported in most countries, and the platform is very considerate and flexible when it comes to foreign citizens. So, you won’t face any problem while transacting with Kraken.
Kraken offers one of the lowest transaction fees. If you pay as low as five to ten dollars, you’ll be able to make bank wire transfers.
If you’re in Europe, it’ll cost you around ten to fifteen euros. The transaction fee of Kraken is as low as 0.25%. You won’t have to worry about any sort of loss when you’re transacting with Kraken.
As it’s a USA based platform, it maintains all the rules and regulations by the FDA. The Kraken servers are very safe as well.
Most Trusted and Easiest – Coinbase
Next in line is Coinbase. Coinbase is the most trusted program and perhaps the most used too. Most people who start as a trader use Coinbase. It’s mostly because of its reputation and its user-friendliness.
Coinbase has their e-wallet. You won’t have to create a separate wallet for you, which is very convenient. Transaction fees on Coinbase are a bit higher than that of Kraken. These transactions usually cost around 1.49% of the transacted amount. However, if you transact via a credit card, you’ll have to pay around 3.99% more.
However, if you transact between different accounts of Coinbase, it’ll be free of charge.
Coinbase has a pro version. This platform was known as GDAX before. However, GDAX isn’t for beginners. If you’re a pro, GDAX or Coinbase pro is perfect for you. It’ll allow you more flexibility, and it has a lower transaction fee of 0.25%.
Fastest Transaction- Coinmama
Suppose you’re okay with spending extra bucks for speed and security, Coinmama, the one for you. Coinmama is an Israeli platform that’s used by thousands by now. Although Coinmama isn’t very popular due to its high transaction fee, it’ll do you fine if time is your concern.
Coinmama usually charges a transaction fee of 5.5% for every transaction fee. On top of that, if you make the transaction through a credit card, you’ll have to pay an extra 5% on that. In return for that, you’ll get high security, amazing customer support, and fast transactions.
If you’re looking forward to buying a small amount of Ether, you better buy them through an Ethereum ATM. These ATMs put a limit on transactions, so you can’t conduct large transactions with them. Make sure you get a crypto wallet first.
Once you have the wallet, you can buy the ether in exchange for cash and send it to your public address. Easy as that!
You can always locate these ATMs using different websites such as Coinatmradar. Coinatmradar is a website that displays the ATMs situated near you. You can use some filters to fine-tune your search so that you don’t turn up at an ATM that you don’t need.
Transaction through these is very easy as well. At first, you have to scan the QR code of your crypto wallet. Once the wallet gets the public address of your wallet through scanning, you need to perform some simple verifications. Then you’ll just have to insert the cash receipt and select the amount of Ether you want to buy. And that’s it! The Ethers will then be sent to your crypto-wallet.
Cryptocurrency and Blockchain are rising on the global economic sector, and Ethereum is one of its leaders. You may think that now is not the time to invest in Ethereum, you may think that you’re too late. However, know that it’s not too late yet!
Ethereum is the future, and you still have the chance to ride the tide. It’s better you don’t wait anymore. Buying Ethereum is very easy, as you can see. If you’re planning on buying on a bulk, we recommend you buy through the exchange platforms. Sometimes, the peer-to-peer network may take a lot of time. Plus, these aren’t reliable at all times.
The exchange programs, on the other hand, are very good. They are efficient, and you can always choose the trait you need the most. If you want to make fast transactions, get Coinmama.
And if you need the lowest transaction fees, get Kraken. And if you want the most trusted exchange platform, go for Coinbase.
However, for transacting small amount, we recommend you get to use the Ethereum ATMs.
It’s never too late to invest in Ethereum. Now that you know how to buy Ethereum, start today!