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How to buy Ethereum? How to buy ETH?

How to buy Ethereum? How to buy ETH?

Have you been hearing about Ethereum but not sure where to get some? You think to yourself, “How do I buy Ethereum?” Don’t worry. We’ll teach you how you can get your hands on Ether (ETH).

Wait, I’ve heard of Ethereum, but what’s the difference between Ether and Ethereum? People often get these confused, but it’s easy to remember once you know the difference. The Ethereum network is the decentralized network of computers or nodes which maintain the Ethereum blockchain. Whereas, Ether (ETH) refers to the network’s native cryptocurrency.

buy ETH

Buy ETH from a cryptocurrency exchange

The most popular way to buy ETH is through a cryptocurrency exchange. Exchanges with high trading volumes usually have the most competitive prices. And, depending on which exchange and method you choose to buy ETH, fees can range from 0.1% to anywhere up to ~4%.

While there are many exchanges to choose from, we recommend Coinbase, one of the most popular cryptocurrency exchanges, for beginners. Your Coinbase account also gives you access to Coinbase Pro, which offers more trading options and lower fees for those with a little more experience with financial exchanges. Other popular exchanges include Binance, Gemini, and Kraken.

Regardless of the exchange, you’ll follow a similar process:

  1. Create an account
  2. Verify your identity
  3. Add a payment method and/or fund account
  4. Buy ETH

Note, that cryptocurrency exchanges are often targeted by hackers looking to score some money. When your ETH is in your exchange account, your money is in their custody and potentially at risk. This risk may vary depending on the exchange.

For example, Coinbase insures any funds it holds online. But regardless, it’s worth keeping it in mind when deciding where to store your funds. We recommend learning how to create your own wallet to store your Ether.

Buy ETH with cash (and many other payment methods) from LocalEthereum

LocalEthereum is a worldwide peer-to-peer marketplace where users buy and sell Ether (ETH). All trades are negotiated directly between buyers and sellers. And, the ETH is held by a non-custodial smart contract during the sale.

The main benefit of using LocalEthereum is that there are many sellers that accept a wide variety of payment methods and currencies. Wire transfers, PayPal, WebMoney, Venmo, Swish, MoneyGram, PayTM, and giftcards are just a few of the options available. That being said, you’re more than likely paying a premium price for the option, compared to exchanges.

Be aware that buying Ether from an individual comes with risks. Dishonest sellers and scams aren’t unheard of when it comes to peer-to-peer trades. Luckily, arbitrators from LocalEthereum some capabilities to release the ETH held in escrow to either party in the case of dispute. All-in-all, peer-to-peer trades should be conducted with caution and a healthy dose of skepticism.

Buy ETH with cash from an Ether ATM

Not the waiting type? For those of you who want to dive in ASAP, try searching your area for an Ether ATM. Ether ATMs are fairly straightforward and usually good for smaller amounts of ETH.

  1. Locate an Ether ATM
  2. Show the ATM the QR code for your Ethereum wallet’s address
  3. Some ATMs may require identity verification via gov. ID, phone number, etc
  4. Select the amount of Ether you wish to purchase and insert your cash
  5. Wait for the transaction to be processed

Transactions with ATMs typically take less then 30 minutes but the time you’ll wait depends on the ATM’s programming. The ETH to currency rate and fees also vary from machine to machine. But, we’ll warn you that for the most part ATMs’ rates upcharge consumers for the convenience of Ether on demand.

Do you still have lingering questions? That’s alright. We’re always available to answer your questions in our Discord.

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