Friday, February 21, 2020

How to Buy Ethereum (ETH)

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Adedamola Bada
I'm Damola, a computer engineer from Obafemi Awolowo University. A crypto enthusiast, marketer, and writer who is seeking to achieve career excellence through hard work and positive contribution to the organization that aspires for excellence. Contact me on damolabada@gmail.com

Ethereum is the second largest cryptocurrency in the world in term of market capitalization only after Bitcoin (BTC), and as a result, can easily be purchased in most available crypto exchanges.

It has quickly grown in popularity over the years, and its blockchain supports the most number of decentralized applications as many emerging models are based on Ethereum’s popular ERC-20 standard token.

Ethereum’s popularity ensures that it is one of the select cryptocurrencies available in fiat pairs. Fiat Pairs are listed on exchanges such as Coinbase and allows you to buy crypto coins directly with fiat currencies such as the US dollar, Euros and Pounds.  We look at a few exchanges where you can purchase cryptocurrencies.

Coinbase

Coinbase is one of the largest and most reputable cryptocurrency exchange in the world. The US-based crypto exchange is one of the few exchanges that offer the ether token (ETH) in fiat pairs which makes it very easy to buy. 

Coinbase offers its services to all states in the US and some European countries, including other places too. With a special team of dozens of personnel dedicated to ensuring the security of the exchange, Coinbase is regarded as one of the most secure of exchanges to store your ETH. However, you are advised to store your coins in wallets instead and should get one as soon as you buy your first Ether tokens.

The only significant downside to Coinbase is its non-global reach and slightly costly transaction fees.

Coinmama

Coinmama is based in Israel and has been around for a while. With Coinmama, you have the alternative of buying your Ethereum tokens with Debit or Credit Cards, as you navigate the unique interface of the Israeli-based exchange. Coinmama offers you different packages that most suits you before you buy your tokens.

Gemini

Gemini is another US-based exchange known for its incredible transparency and accountability. The exchange has a lengthy verification process but has one of the lowest transaction fees at 0.49 per cent compared to Coinbase’s 1.40 per cent. Gemini also offers fiat pairings and makes it very easy to buy your first ETH tokens.

Bitpanda

Bitpanda has one of the widest varieties of digital currencies and payment options. They allow SOFORT transfers, SEPA transfers, credit, debit, and more. The only downside to the exchange is its only availability to European countries. If your country is supported, you can buy your Ethereum tokens at low fees at Bitpanda, after a fairly lengthy verification process.

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