Tutorial: How to buy Ether (ETH) and send it to MetaMask
Investing in tokenized assets on Brickblock’s smart contract platform is only possible with ETH (Ether) at the moment.
As we move closer to listing the world’s first tokenized real estate asset, it’s important to have ETH in your Ethereum wallet as soon as possible (the process of buying ETH can take a few days as exchanges need to verify your identity).
Since you must have MetaMask to connect to Brickblock’s smart contract platform, we highly recommend using MetaMask as your Ethereum wallet.
Disclaimer: The advice presented in this tutorial is only a recommendation and the author nor Brickblock take any responsibility for potential hacks, or stolen/lost funds.
Background info
Anyone in the world (excluding residents or nationals of certain countries as explained on the platform page) can participate in the sale of the world’s first tokenized real estate asset. It is mandatory to register for the whitelist and submit KYC info before you can invest.
If this is all new to you, and you don’t know what ETH is, click here to learn more.
Once your MetaMask wallet is funded with ETH, investing in the tokenized real estate asset is a very easy process:
1. Invest
Buy digital shares of the property using ETH from MetaMask.
2. Receive PoA-Tokens
Proof-of-Asset (PoA) tokens represent all the economic benefits of ownership. You will receive the tokens after sending ETH from MetaMask. If the property is not completely funded, you will be able to reclaim the ETH you contributed. Read a full breakdown of Brickblock’s token structure here.
3. Earn passive income
Your PoA tokens generate passive monthly income from the profits generated by the real estate asset. Your share of the profits will be sent to your Ethereum (MetaMask) address.
Before you invest
There are a few necessary requirements before you can participate in the tokenized real estate sale:
- First, you need to set up a MetaMask (ERC-20 compatible) wallet. This is where you will invest your ETH from and where you will receive your Proof-of-Asset (PoA) tokens.
Important: MetaMask is both an ETH wallet and Ethereum blockchain browser. You must have MetaMask to connect to Brickblock’s smart contract platform. We therefore highly recommend using MetaMask as your ETH wallet. We have created a tutorial for how to do this here. - Register for the tokenized real estate asset sale whitelist. Have your passport and camera ready. Register here.
- Get ETH (Ether). Choose an exchange where you will purchase ETH. We provide some of the most popular options in the next section.
- The final step is transferring your ETH from the exchange to your MetaMask wallet.
Read our tutorial for setting up a MetaMask wallet here.
We break down steps 3 and 4 in more details below. Once you’ve completed all four steps, you’re ready to participate in the sale!
Choosing an exchange to buy ETH
As mentioned above, at the moment, the only way to invest through Brickblock’s smart contract platform is with ETH. The most common way to obtain ETH is to buy it on an exchange with FIAT currency (US dollars, Euro, GBP, Yen, etc). There are dozens of exchanges to choose from — doing some research will help you pick one that’s best for you.
Depending on the exchange you are using, you may be putting your capital at risk. Please be careful of phishing attempts and scammers.
Before you purchase, you have a chance to look over your order. It’s crucial that you inform yourself about what is a fair price for Ether, which may depend on the exchange you are using.
Depending on where you live, we have provided the names of some of the most popular exchanges you can use.
North America:
Europe:
- Coinbase
- Kraken
- Bitcoin.de
- Luno
- Exmo (Russia)
Africa:
- Luno
- The best exchange will depend on the country you live in.
South America:
- Bitso
- Cryptomarket
- Cex.io
- The best exchange will depend on the country you live in.
Asia:
Australia:
- BTC markets(Australia)
Registering on the exchange
The remaining steps in this tutorial will be the same no matter which exchange you choose. For the purpose of this guide, we will register and buy ETH on Kraken.
- Register for the exchange. Keep your login and password safe. It’s recommended that you use multi-factor authentication for your account.
2. Verify your identity. Make sure you have your passport and proof of address (such as a utility bill). Depending on how much ETH you want to buy, you need to pay attention to how much you can withdraw. You might have to verify yourself to a higher level (level 3/4 on Kraken, for example) by completing some extra steps.
Note: Verification can take days or weeks depending on the exchange. Please verify yourself in advance so you don’t miss out on participating in this milestone.
Now, you wait. Once your exchange account is verified, you can proceed to the next step: buying ETH.
Buying ETH
Transfer money from your bank account to your newly created account at a cryptocurrency exchange. Please note that transfers may take a few days before you see your balance on the exchange.
Note: If you don’t have a bank account or don’t want to give up your privacy by sending your ID to a third party like Kraken, there are other options like buying ETH from an ATM or locally from other people. These are usually riskier and more expensive ways of acquiring ETH.
In our tutorial, we are going to continue with Kraken. On Kraken, you have to click on ‘Funding’, then on ‘choose your fiat currency to fund your exchange account’. In our tutorial we are going to choose Euro (EUR).
Choose your preferred way of transferring the money and follow the instructions precisely. You will need to send money from your bank account to the exchange’s bank account. These steps are not shown in this tutorial because they are very dependent on your bank, country of residence, and local currency. Once you have been credited the money you transferred to your exchange, you can continue.
Now it’s time to purchase your ETH. Click on ‘Trading’ and choose your desired method of purchasing ETH from the currency list. Since we funded our account with Euros (EUR), we have to choose ETH/EUR to buy ETH.
Once you’ve selected ETH/EUR, you fill in how much Ether you want to purchase. Notice that Kraken will immediately show you how much your purchase will cost in EUR. In our example, we are buying 1 Ether, which is 559.52 EUR at the time of writing.
Note: Depending on the exchange you are using, your capital may be at risk at this step. The simplest way to purchase Ether is to make a market order. A market order is the quickest and easiest way to buy or sell. However, this does not guarantee you the best price. If you want to know the exact price you’re paying, it’s best to do a limit order. That means if a trader agrees with the price you’re offering, they will execute your limit order. But it’s up to you to figure out what you want to pay the ETH you’re buying. More info on the different type of orders can be found here.
Before you purchase, you have a chance to look over your order. It’s crucial that you inform yourself about what is a fair price for Ether, which may depend on the exchange you are using.
Once you’re satisfied with your order, click ‘Submit Order’ and wait for the transaction to be executed.
If your order is executed (closed), you have successfully purchased your ETH.
Final step: Transferring your ETH to MetaMask
Now that you have purchased ETH on the exchange, it’s time to send it to your MetaMask wallet. Remember: MetaMask is essential for investing through Brickblock. See our tutorial for creating a MetaMask wallet here.
Go to the exchange and click on ‘Withdraw’, then on ‘Ether’.
Add your MetaMask wallet to your list of saved Addresses. You do this by first copying the address from your MetaMask wallet:
Then, paste it into the address field on Kraken.
MAKE SURE THE ADDRESS HAS BEEN CORRECTLY COPIED OR ELSE YOU WILL LOSE YOUR MONEY.
Once you have verified your address, choose the amount you wish to withdraw and click ‘Confirm Withdrawal’.
You should soon see your ETH balance on https://etherscan.io/address/YOUR ADDRESS HERE
Done!
You’re now ready to invest in the world’s first tokenized real estate asset. Further instructions will follow soon — for now, make sure you’ve registered for the whitelist.
