Ethereum is the second most popular cryptocurrency of the market at the moment, but it started back in 2013 as a descentralized platform for developers. It soon evolved to become a digital currency and a blockchain platform which is used to decentralized, secure, trade or codify just about anything.
While Ethereum is the platform, Ether is the currency used within it, and is required for anyone wanting to use the platform. Ether can be traded and mined over the web just like Bitcoin. The Ether supply was generated in 2014 during the presale of the cryptocurrency, and donations were made and allow the creation of 60 million Ether which was divided between different initial collaborators.
Mining ether is a long and tiring process, so many people go for the easier and faster option of buying it. There are several safe ways to trade Ether online.
How to buy Ethereum
Before we can discuss the best places or sites to buy Ether, you should know the best way to get started.
1) An Ethereum Wallet is needed before you can consider buying Ether. This is used to hold your digital currency after you have obtained it, much like a bank account is used for fiat money
2) To buy Ether, you can buy many different methods of payment such as credit card, bank transfer or cash. The easiest way to get hold of Ether is through an exchange.
3) Keep your Ether balance safe in your wallet. You should never leave your coins in any exchange or website, as if it gets hacked, it is likely that you will lose your funds.
There are some platforms that don´t request a Ethereum wallet, they are cryptocurrency trades are make for fiat currency only, so you won´t need to actually store the currencies, therefore you won´t need a wallet. It is important to remember that no framework regulates trading digital currencies, so your investment is always at risk.
As mentioned before, the easiest way to buy Ethereum is in an exchange, for example:
- Coinbase: this exchange is only available in certain countries, so you should check that is available in yours. This exchange is probably the most convenient for all users in terms of price and purchase process. Every user needs to first create an account, then add a method of payment. They must then go to the “Buy/Sell” option and select Ethereum.
- CEX.IO: this is another option for users to buy Ethereum online. It gives user the the option of using their credit card. The price on this site may look higher than others, but that is because CEX.IO adds the transactions fees to the exchange rate. The platform is available worldwide, so doesn´t matter where you are, you will be able to buy and sell Ethereum at any time.
- Coinmama: This is an exchange site that has been available in the market since 2014 and sells Ethereum worldwide at very fair exchange rates. Coinmama allows its users to make their Ethereum purchases with a credit card.
- Changelly: This offers the option to buy Ethereum with other crytocurrencies, especially bitcoin. It takes around 30 minutes for the exchange process. The platform is very clean and intuitive. It does accept fiat currency, however is not recommended due to the very high fees.
- Coinhouse: This started as a bitcoin Exchange for France and has gradually expanded their services to all of Europe. This platform accepts payments with credit and debit cards.