4 Key Factors Keep in Mind Before Buying an Ethereum in 2020
Table of Contents
- 1 Buy Ethereum- How to buy Ethereum with a Debit/Credit card?
- 1.1 What is Ethereum?
- 1.2 How to buy Ethereum?
- 1.3 b) Buy with Credit Card:
- 1.3.1 Step-1: Sign in to the website
- 1.3.2 Step-2: Verification
- 1.3.3 Step-3: Find the asset
- 1.3.4 Step-4: Select the payment mode and proceed to pay
- 1.3.5 Step-5: Fill in the details and buy
- 1.3.6 c) Get an Ethereum wallet:
- 1.3.7 d) Withdraw the Ether to the wallet
- 1.3.8 How to buy a large volume of Ethereum?
Buy Ethereum- How to buy Ethereum with a Debit/Credit card?
What is Ethereum?
Ethereum is the second-largest virtual currency in terms of capitalization. It is the most demanded digital currency among the other digital assets. Ethereum came into existence in 2013 by Vitalik Buterin. Despite releasing in 2013, the first block of Ethereum came in 2015. Today it is one of the biggest platforms that develop smart contracts and dApps. Most of the crypto lovers are looking to Buy Ethereum because of its demand.
How to buy Ethereum?
Just like any other virtual currency, buying the Ethereum with debit or credit card is one of the tedious jobs. Most of the countries do not recognize the cryptocurrency legally. So the virtual currency lovers have to find ways to do this. Here are the steps on how to buy Ethereum Online?
a) Steps to buy Ethereum with a Debit Card:
Almost every people hate waiting when it comes to money. People usually want all their transactions to complete as fast as possible. Sometimes the transactions take days to end when the blockchain is overloaded. So it quite difficult to influence the transaction speeds. Everyone wants the easiest and the fastest way to but Ethereum instantly. Here is a small guide that will help you to buy Ethereum instantly.
Step-1: Find a reliable trading website
To buy Ethereum with complete transparency, you need a reliable trading website. Search for a website that offers you full transparency in the orders. You should also find out a site that executes high-speed transaction for trading.
An ideal trading website always insures about the transactions and provides 24×7 customer services.
Step-2: Sign in to the website
To buy Ethereum online, you need to sign in to the website. If you don’t have an account registered earlier, then click on the Signup Option to create an account. You can log using your email address.
You have to verify yourself before buying ETH with debit card. Once you sign up, you have to upload your photo, passport, national ID for verification. Once your documents are verified, you can buy ETH instantly.
Step-4: Find Ethereum
Once you sign in to the account, you need to find out the cryptocurrency that you want to buy. From the list of the available assets find Ethereum and click on the deposit link.
Step-5: Select The Payment Mode
Once you click on deposit, it will show you to choose the payment mode. From the above options, you can select the option “Buy ETH using the debit card”. Then enter the amount of currency that you want to purchase.
Step-6: Payment gateway
After you enter the amount of currency that you want to buy, you will redirect to the payment gateway. Here you need to enter your card details to complete the transaction. Once you fill all the details, click on the “pay now” option and you will get the exact amount of ETH in your wallet instantly.
Transfer of the ETH sometimes depends on the complexity of the blockchain. Sometimes it takes days to transfer while sometimes you get in minutes.
b) Buy with Credit Card:
You can also buy ETH with a credit card. Many trading websites provide numerous payment modes to buy ETH. Steps to buy ETH with a credit card are same as a debit card. Here are the steps to buy ETH using Credit Card.
Step-1: Sign in to the website
To buy ETH using a credit card, you need to sign up to the trading website. You can sign up using an email address or phone number. After registering your email, create a strong password. Provide the invitation code and click on Sign up to create your account.
Once you create your account, you have to verify your identity. To verify your identity, you need to upload all the essential documents. Once your documents are verified, you can buy ETH easily.
Step-3: Find the asset
Once you complete the verification, find ETH from the list of assets. After choosing ETH from the lists, click on the deposit link and select the payment mode.
Step-4: Select the payment mode and proceed to pay
Once you find the asset and click on deposit, it will redirect you to the payment page. You can select a credit card from the available options. After choosing the mode, enter the amount of currency that you want to buy.
Step-5: Fill in the details and buy
It is the last step to complete your transaction. Here you need to fill your card details and click on the “pay now” option. Once you click on the pay now option, the exact amount of ETH will credit to your wallet instantly. If you are wondering about where to buy Ethereum, you must research all the trading websites deeply. You should also check the prices and transparency that they offer.
c) Get an Ethereum wallet:
Before buying an Ethereum, you need an Ethereum Wallet. The Ethereum Wallet is a virtual wallet to store all the Ether. There are two kinds of Ethereum wallet. It includes hardware and software wallet.
Types of wallet:
The hardware wallets are the most secure way of storing Ether. If you are confused about should I Buy Ethereum, then the hardware wallet is the answer. The hardware wallet is a piece of hardware. It is similar to a flash drive. The flash drive keeps your private keys secure offline. The hardware wallets are a combination of security and convenience.
Software wallets are completely free. But they are less secured as compared to the hardware wallets. These wallets work when you connect with the internet. It also involves the risk of hacking.
d) Withdraw the Ether to the wallet
Once you buy Ethereum to INR, you need to make sure that the Ether is secure in your wallet. If you leave it in the exchange, there is a high risk of getting hacked. You may finish up losing your virtual coins. So, the initial step that you need to perform is shifting the coins to your Ethereum address. The Ethereum address is a set of characters that starts 0x. Anyone who is looking at how to invest in Ethereum should retrieve their ETH address. You can get your ETH address in your Ethereum wallet.
How to buy a large volume of Ethereum?
If you want to buy a massive amount of ETH instantly, you should use Bitxmi. It is a trading platform that offers you faster transactions to purchase a large amount of ETH. You can get the ETH at the best price.Read more about bitcoin here
Disclaimer: Bitxmi News is a news portal and does not provide any financial advice. Bitxmi's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Bitxmi News won't be responsible for any loss of funds.