Ethereum is a platform that offers many different investment opportunities. This place was created in order to decentralize the application. Its currency is Ether, currently the second most popular cryptocurrency, right after Bitcoin. This is the main reason why it is worth paying attention to, and especially to learn how to buy it and where to start.
Exchange on the stock exchange – how to do the easiest way
The first step should be to find a cryptocurrency exchange that accepts your currency and sells you ETHs for it. Check with us – the Tokeneo exchange is a platform tested and prepared by professionals. It was created for those who want to buy cryptocurrencies quickly and safely. See here if you want to learn more about the Tokeneo stock exchange.
On the selected page you will find all the information you are interested in, payment methods, current exchange rates. It is also worth to check the costs of banking services. Of course, it all depends on the payment method you choose.
Creating an account on a chosen platform will require verification of your identity. After it is done and the money is transferred, it’s time for the next step – buying Ethers.
Crypto ATMs- a way to buy Ethernets
In order to purchase the cryptocurrency ETH you can also use the cryptocurrencies ATMs. Smaller amounts are not subject to the Anti-Money Laundering (AML) or Know Your Client (KYC) standards, as is the case with stock market transactions, which is considered a disadvantage. In order to use bitcoin ATMs, you need to set up an Ethereum wallet. There are approximately 27 ATMs in US that operate with Ethers. A list of them is available on the Coin ATM Radar website. What is the way they work? A holder of an Ethereum wallet receives a generated QR code, which will then be scanned by the machine. The next step is to put the money in it, for which we want to buy the chosen currency and choose its amount. The requested amount is transferred to a few hours after the transaction.
Over-the-counter (OTC) exchange
It involves the flow of currencies through decentralised platforms where sellers and buyers meet. The AML and KYC standards do not apply here either. This method uses local currencies and operates on a deposit basis. When a buyer decides to make an offer, his funds are transferred to the deposit account, then during a conversation with the seller the transaction details are discussed and an automatic exchange is made.
When deciding on an OTC exchange, you must make sure that the transaction you choose is in accordance with local law. This method has many supporters, due to the anonymity guaranteed by the access key, which is destroyed after the transaction is completed. In this case, there is also the possibility of a meeting of interested people, called in the community meet-up.
How do I set up my Ethereum wallet? The most important questions.
-Which wallet option should I choose “full node” or “light client”? “Full node” requires downloading Ethereum Blockchain, “light client” does not, hence the second option is recommended for beginners. An example of a platform on which you can buy “light client” is MyEtherWallet;
– How to reduce the risk of theft? When you buy ETHs on the stock exchange, put your wallet on another platform. This will certainly reduce the risk of theft;
– What is worth paying attention to? The most important thing is the key to the portfolio. You should keep an eye on it because it is the only way to access it.
Ethereum – what should every beginner know?
It is worth to note the login method. The best and safest way is to log in in in a few steps. Such verification increases security. In case of making a transaction it is not possible to undo it, so pay attention to the correctness of the data entered. The remaining knowledge will come with time and experience.