Ethereum is a distributed system in the field of financial technology, which offers the creation, management and execution of decentralized programs or contracts (Smart Contracts) in its own block chain. It therefore represents an alternative to the classic client-server architecture.
Ethereum uses the internal cryptocurrency Ether (abbreviated to ETH) as a means of payment for transaction processing, which is handled by participating computers. Ether is the crypto currency with the second largest market capitalization after Bitcoin.
Byu Ethereum: Which platform to buy from?
How do you trade Ethereum? Unlike the “normal” stock market, where stocks, funds or bonds are traded, buying Ethereum is not that obvious. Generally you get direct support from your bank when trading stocks, funds, etc., or you have friends and acquaintances who have been with you for some time and can help you. For Ethereum, this is usually a bit more difficult.
Banks do not offer cryptocurrency trading. Friends and acquaintances who have experience with cryptocurrencies are often not present due to the still relatively unknown market, which is still moving in a niche. So you are usually on your own. In the following section we would like to give you recommendations based on our experience on how to buy Ethereum:
Step 1: Find a Trustworthy Exchange
From our experience, Coinbase is a reliable, reputable and established Ethereum exchange. Coinbase offers the possibility to buy Ethereum in a fast and uncomplicated way. You can start right away with the purchase of the digital currency.
Step 2: registration
Visit coinbase.com and click on the “Sign up” button. With this you get to the following overview:
After entering your full name (first and last name), e-mail address, password and country, just click the “Create account” button. Coinbase will be send a confirmation link to your email address. After clicking the link in the e-mail sent by Coinbase, you can start buying Ethereum.
But before, you will have to enter your phone number and provide additional information about yourself like employment situation, anual income etc.
Step 3: Buy Ethereum
After logging in, you will see the current Ethereum Price, together with an overview over the last hour, day, week, month or year. You can also choose Bitcoin, Bitcoin Cash or Litecoin in the overview section.
Under the menu item “Buy/Sell” you select Ethereum and enter how much Ethereum you want to buy. You can choose between the following Payment Methods:
- Banc Account Link (US Users)
- Debit Card (US + European + Australian Users)
- Wire Transfer (US + European Users)
Coinbase offers a wallet for all the currencies you can buy and sell on coinbase.com. Once you bought Ethereum on Coinbase, you will see the corresponding units automatically in your Ethereum (ETH) wallet.
If you want to sell Ethereum, you just have to generate your Ethereum address and send your funds from your Desktop wallet, hardware wallet like Ledger or another Exchange to you the Coinbase address and you will see your funds in the overview.
If you have any questions about the process let us know and we’ll do the best to help you.