How do I buy Ethereum?
Now that you understand the basics of Ethereum and Ether (ETH), let’s dig into how you can buy some ETH for yourself!
There are multiple ways you can buy Ethereum ranging from pretty straightforward to confusing. Let’s explore a few of your options.
Exchanges
The easiest way to purchase ETH is to use an exchange. Since Ether is the second largest cryptocurrency after Bitcoin, it is supported by every major crypto exchange today.
To make a purchase you will need to register with an exchange that operates in your jurisdiction and allows you to deposit your local fiat currency (USD, EUR, etc…).
Exchanges will often require you provide basic personal information so they can comply with local laws governing financial transactions. This process is usually as simple as setting up a brokerage account to trade stocks.
After being approved by the exchange you will need to deposit money to fund the purchase through a supported method. This will usually be a wire transfer, ACH, credit card or even an old-school check!
Once your funds are deposited, follow the rules of the exchange to enter an order to purchase ETH in the amount of your choosing.
Here are some of the most popular exchanges around the world to purchase Ethereum:
Cash
Yep, you can use good ol’ cash to buy Ether also. This isn’t the most convenient or safest way to get your first ETH, however it does come with the benefit of anonymity which many people may prefer.
The best option to identify a counter party for a cash transaction is to use Local Ethereum. The service help facilitate the transaction similar to how eBay helps you purchase something from somebody, escrow, transfer of funds, etc…They do charge a fee for their services of ~1% of the size of the transaction.
You can also use the service to setup an in-person meeting with the other person to exchange the funds and tokens.
Ethereum ATM
And finally, there are ATM-like machines around the world that will happily accept your money and (digitally) dispense you ETH. To find one closest to you, use Coin ATM Radar which shows you the location of thousands worldwide.
Ethereum ATM’s generally are useful for transactions of small amounts and are a favorite of people who prefer not to register their personal information with a cryptocurrency exchange.
Next
Now that you understand what Ethereum is and own some yourself, check out part 4 of our series, What’s an Ethereum Wallet (coming soon!) to learn how to safely store and use your ETH!
At Fetch, we’re building the brokerage that makes it simple and for investors to own and manage cryptocurrency. Try it out today and follow us on twitter @hello_fetch!
