How to Buy Ethereum in a Few Clicks?

Over the last year or so, the cryptocurrency market has gone from something that was incredibly niche to the front page news all over the world. During the latter part of 2017 and the early days of 2018, many of the most popular cryptocurrencies exploded in value, and that made millions of people interested in the sphere.

While the market has slowed considerably compared to those crazy days, there are a ton of people still looking to get involved with the industry and believe it is the future.

Not only has cryptocurrency investing become very popular over the last year or so, but technology and innovation have made it incredibly easy to be involved in the industry. However, if someone has never invested in crypto, it is a little bit different than standard investments, so they might be a little lost.

In an effort to help, we have decided to put together a simple guide to help people take the necessary steps to buy cryptocurrency. In particular, this article is going to look at how to buy Ethereum in only a few short clicks, but purchasing any cryptocurrency will follow a similar set of steps as well.

Introduction to Ethereum

But before we look at how to purchase Ethereum, let's take a look at the coin itself. Ethereum is currently the second most popular cryptocurrency according to its market cap, which sits at over $29 billion as of mid-August 2018. Ethereum is an open-source computing platform that uses smart contracts to function. It is completely decentralized and allows developers to create and release their own decentralized apps, which can have a million and one different functions. Ethereum officially went live in 2015 but was described by eventual creator Vitalik Buterin back in 2013.

The value of Ethereum grew by over 13,000% in 2017, making it one of the biggest risers of the year. Because of how popular Ethereum is, most exchanges will sell it and thus, it is easier to purchase than many other altcoins out there that may only be listed on certain exchanges.

The 3-Step Guide to Buying

Now you know what Ethereum is and a little about it. But how can you go about buying it quickly? Well, there are a few simple steps you need to take to be able to purchase it, and we'll go through them now.

Step 1

The very first thing to do when looking to buy Ethereum or any other cryptocurrency is to open a crypto wallet. This is a digital wallet where you will hold all of your different cryptocurrencies. There are many different online providers for crypto wallets and each has unique features and functionalities.

There are also a few different types of wallets that can be used. First, there are hot wallets, which are online wallets that are connected to the internet. Secondly, there are cold wallets, which are devices that you will connect to your computer to hold your crypto.

Step 2

Next, you need to decide which cryptocurrency exchange you are going to purchase your Ethereum from. There are several different exchanges out there, each supports different currencies, has different fees and more. You should do your research on some of the most popular exchanges (such as CEX.IO) and see which best matches your needs and which you like most.

Step 3

Once you have signed up for an account on, let's say, CEX.IO, it's time to head over to the "Buy" section of the website to make your purchase. CEX.IO will allow you to purchase Ethereum using several methods - you can pay with a credit card; send some fiat currency to your account via bank transfer; or buy Ethereum with other crypto assets like Bitcoin. The easiest and the fastest method is purchasing Ethereum with a credit card. The customer goes to the "Buy" section, chooses Ethereum as an option for buying, enters the desired amount and simply clicks the "Buy" button. There you have it!

So if you are able to follow those steps and get a wallet, an exchange account and use a suitable payment method, you will be able to buy Ethereum quickly and easily. Of course, you should put a lot of thought into what exchange and wallet you go with, but there is nothing wrong with working with multiple, either. Also, it is possible to keep your Ethereum in your exchange wallet, but if you want to be as secure as possible, you should transfer it to your personal wallet to get it off of the exchange.

Concerns to address before buying

Now that you know how to go and purchase Ethereum, you can put these steps into action anytime. However, before you invest in Ethereum or any cryptocurrency, you should make some considerations.

First of all, you need to make sure you truly understand the risk involved with investing in cryptocurrency. All types of investments are risky, but cryptocurrencies are risky on a whole other level. They are extremely volatile and can often rise or fall by dozens of percentage points in only a few days. So when you invest, you need to be ready for the volatility that comes with investing in crypto.

Second of all, you need to make sure you are not giving in to panic. The value of your coin will almost certainly drop dramatically at some point, and you need to be confident with yourself that you can weather the storm without panicking too much and selling off the investment.

Also, you should do a ton of research before ever putting money into cryptocurrency. While listening to experts and researchers can have some benefits, you really should try and do your own research and see what sort of cryptocurrency you want to invest in, and if you ever want to invest in it at all. Research is the name of the game and is one of the most important things to consider when investing in Ethereum.

In conclusion, with Ethereum being one of the most popular cryptocurrencies on the planet, it is fairly easy and simple to purchase it. Hopefully, this article has taught you a little more about what Ethereum is and helped you learn and understand how you can go about buying it.