Buying Ethereum is very easy these days. If you want, you can use cash, card – even PayPal! However, you still need to follow a few steps to buy Ethereum – that’s why we’ve made this tutorial easy for you! It is separated into parts – just follow the one that matches your purchase method.
What is Ethereum (ETH)?
Ethereum is a decentralized open-source blockchain system that features its own cryptocurrency, Ether. ETH works as a platform for numerous other cryptocurrencies, as well as for the execution of decentralized smart contracts.
Ethereum was first described in a 2013 whitepaper by Vitalik Buterin. Buterin, along with other co-founders, secured funding for the project in an online public crowd sale in the summer of 2014. The project team managed to raise $18.3 million in Bitcoin, and Ethereum’s price in the Initial Coin Offering (ICO) was $0.311, with over 60 million Ether sold. Taking Ethereum’s price now, puts the return on investment (ROI) at an annualized rate of over 270%, essentially almost quadrupling your investment every year since the summer of 2014.
Ethereum’s own purported goal is to become a global platform for decentralized applications, allowing users from all over the world to write and run software that is resistant to censorship, downtime and fraud.
At the time of writing this article, the CoinMarketCap ranking is #2, with a live market cap of $380,825,209,077 USD. It has a circulating supply of 119,200,062 ETH coins.
How to buy Ethereum with a credit card or debit card?
The answer to this question is yes, you can buy crypto with a credit card, we would advise against it though. There are many ways to do it, but the most popular way is through Coinbase.
Coinbase is one of the most popular cryptocurrency exchanges in the world. It has a mobile app that allows you to buy and sell cryptocurrencies with your credit card. You can also use your debit card or bank account if you prefer not to use your credit card.
Please follow our step-by-step guide below to buy Ethereum ETH.
Create a Coinbase account
To buy Ethereum (ETH) from Coinbase – you need to create a Coinbase account.
- Click on the ‘Sign up’ button, choose “Individual” and hit “Get started”.
- Enter your name (it has to be exactly the same as what is written on your photo ID), email, password.
- Coinbase is regulated by the US government and follows strict financial rules. As such, they need to verify your identity. It takes some time and effort, however, this makes Coinbase reputed to be the most reliable way to convert regular currency to cryptocurrency.
Verify Coinbase account
As Coinbase needs to verify your account, you must provide your phone number, upload a picture of your photo ID and verify your card (credit or debit) or account back.
Buy Ethereum with Coinbase App
Only once verification is done, you will be able to buy cryptocurrencies. If you use a card on Coinbase, your fees will be higher, but your purchases will be instant. It’s cheaper to use bank transfers. When your payment details are verified.
- Search for Ethereum (ETH) and click on “Trade”
- Choose the type of transaction
- Buy ETH
- Sell ETH
- Convert ETH
- Once you choose “Buy ETH”, on the next page verify how you want to pay with
- Your bank ( which you have to add in advance) – We prefer this option
- Apple pay ( if you have this set up)
- Wire transfer
- Now input the amount you want to buy
- Verify the amount using “Preview Buy”
- If all looks good then hit “Buy Now”
- Congratulations you just bought some Ethereum!
Also Read: How and Where to Buy Bitcoin (BTC) Quickly
Frequently Asked Questions
Can I buy Ethereum with PayPal?
You cannot buy Ethereum directly with PayPal at this time. If you want to use PayPal, you will have to buy bitcoin first and then exchange bitcoins for ETH using a service like Binance.
Can I buy ETH with cash?
You cannot buy Ethereum directly with cash. Even though some ATMs support Ethereum, they are less than 1% of all cryptocurrency ATMs. If you want to buy with cash, you will have to buy bitcoin first and then exchange bitcoins for ETH using a service like Binance.
Can I buy Ethereum with Bitcoin?
Yes, you can easily do this using Binance to exchange bitcoins for Ethereum.
Can I buy ETH with Skrill
Europeans can use BitPanda to buy bitcoins or Ethereum with Skrill. Ethereum or BTC can then be converted to Ethereum on Binance.
Can I buy Ethereum with Ethereum
Yes, you can easily do this using Binance to exchange Ethereum for Ethereum.
What is the best payment method to use?
The cheapest way to do this is to buy bitcoins with a bank account (or Ethereum directly with a bank account) and exchange BTC for Ethereum. The fastest way is to buy Ethereum with a credit card, but higher fees will be charged.
How can I secure ETH after I buy it?
You must store your Ethereum in a secure wallet. Leaving Ethereum on an exchange only puts you at risk of losing money if the exchange is hacked. Your account can also be hacked, so it’s important to use 2FA.
How can I sell Ethereum (ETH)?
Binance and changelly are good places to exchange your ETH for any other cryptocurrency. If you want to exchange it for regular currency, exchange ETH for bitcoin and exchange BTC for dollars, euros or other currencies.
Can I mine Ethereum instead of buying it?
You cannot mine Ethereum as it has a different network structure than Bitcoin. You can only buy Ethereum from one exchange.