Step-By-Step Guideline On Buying Ethereum
Actually, the number of ways and places where you can buy Ether grows every day, however, not all of them are beneficial or convenient. Here are the most profitable and simple ways to complete this task.
Take an advantage of an exchange
Naturally, there are many exchanges that specialize in trading virtual currencies, and the best example is Bitfinex, where everyone can buy Ethereum with the help of hard currency or any altcoins as one chooses.
There are two options:
- Exchange BTC/altcoins for ETH
- Use functional currency to buy BTC and then go to the option 1.
After exchange or purchase, you will be able to withdraw Ether to the wallet
Depending on the exchange, the fee may vary from 0.1 to 0.2%. The situation with withdrawal is different: if you select SEPA transfer, then there is no need to worry as it will be processed for free or for the minimal fee. The situation with the price for bank transfers differs from SEPA greatly as it varies between $5 and $20. And while withdrawals are usually free of charge, sometimes network fee is possible – however, it is minimal and stays around 5 euro cents.
In case you have a BTC wallet with some digital coins in it, the procedure of Ethereum purchase will be very simple: take an advantage of Buy Ether service. Send your BTC to the address of your Ethereum wallet, so they will send you ETH there.
Where to get the Ethereum wallet?
MyEtherWallet can be the good solid option in case if you need a plain and simple wallet that performs all major operations and allows you to print out an address for cold storage.
Owners of Android handheld devices can install Ethereum Wallet to the device and make transactions on the go.
Geth is another option, however, it will be convenient for advanced users who are acquainted with coding and programming, as the user interface here is quite complicated and not intuitive. If you cannot call yourself a coding geek, then better search for something more user-friendly. Still, it works fine if you need to send or receive Ether and gather contracts together.
Also there is a few additional services that can help you to proceed with your Ethereum payments. Thanks to Shapeshift, owners of Bitcoins can instantly purchase ETH to their account − this exchange has integrated directly with Ethereum wallet.
Purchase Ethereum from an ATM
Bitcoin ATMs are spreading all over the world, and some of them – Lamassu specifically − offer a possibility to buy Ethereum as well. The code used by Lamassu is appropriate for purchasing Ether and for using apps that run on Ethereum blockchain.