Purchasing ETH can be done easily at any of the Ethereum exchanges below. Once Ether has been purchased for fiat currency (USD, EUR, GBP etc), the funds can be stored on the exchange itself or in your own secure wallet. For small purchases of Ethereum, users may wish to store their crypto on the exchange for ease-of-use. For larger purchases it is recommended that the funds are moved into a secure wallet.
Buy ETH in a few simple steps
The process of buying Etherum will vary from one exchange to another, however the principles are very much the same. Those new to currency purchases need not be alarmed, many exchange platforms make it as easy as sending a single online payment.
1.Register at an exchange
Register at your chosen exchange,i reccomend CEX.IO by submitting a few personal details. Full identity checks are often included later in the process when a deposit or withdrawal is made.
2. Complete KYC/identity checks
Before/after depositing, or prior to withdrawal, exchanges must carry out “Know Your Customer” (KYC) and Anti-Money Laundering (AML) checks. Exchanges will require proof of address and photo identification to proceed.
3.Choose a deposit method
Each Ethereum exchange will offer their own banking methods. These are often a mix of bank wire transfers, SEPA, credit/debit card, PayPal or Skrill payments. Each exchange will typically charge a fee for each deposit method; fee details are usually found in the footer of the exchange’s website.
4.Make a deposit in US dollars, Euros etc
Deposits will take from as little as 24 hours to several days to arrive in your exchange account. Deposit times will vary from exchange to exchange and the deposit method chosen.
5.Buy ETH with your deposited funds
Once your fiat currency has arrived in your exchange account, you can use this currency to purchase Ether. Beginner friendly platforms such as Coinbase have made this process very simple. Exchanges which make purchases easy have been marked above with a tick symbol under “Beginner Friendly”.
Why invest in Ethereum?
There are many reasons why a user might choose to buy or invest in Ethereum, here a handful of examples.
- Accessing token sales and other blockchain investments
- Hedging against the incumbent fiat system
- Diversifying a traditional portfolio
- Interacting with blockchain-based IoT devices
- Using smart contracts and the EVM
- Paying wages internationall
Is it too late to buy Ethereum?
If Ethereum was to become ubiquitous as a digital currency — enabling micropayments among machines and borderless/trustless transactions between people — then it is quite obviously not too late to buy Ethereum. The price of Ethereum in 10 years time is likely to either be $0.00 or an uncapped amount that can only be imagined. It is my personal expectation that Ethereum’s value will only stabalize (i.e. stop increasing) once the currency has achieved its goal of being a globally decentralized platform with billions of devices and humans interacting with it. Of course, the value of the currency will experience enormous highs and lows as investors join and whales leave, but if the technology is to succeed, then the long run price will be much greater than today.
From the content on this page, it should also become apparent just how challenging it can be to purchase Ether, and that in and of itself is one reason why it is unlikely to be too late.