How To Buy Ether
Ethereum is an ambitious project that aims to create a global eco-system of decentralized applications. Anyone can contribute to the project by creating their dapps on the platform. The entire project runs on Ether, which is the native cryptocurrency tokens (Read “What Is Ether?”). Ether has many uses, including facilitation the creation of dapps and system updates. With such utility and potential, it’s no surprise that Ethereum has been considered the second-most popular cryptocurrency after Bitcoin. So how do you get your hands on some Ether?
Get an Ether wallet
You will need a wallet to store you Ether before you can buy any. Fortunately, there is no shortage of Ether wallets. You can quickly and easily get one for free through a variety of ways. Cryptocurrency exchanges will create one when you sign up with them. You can also download one of the many free wallet apps for your phone. Ethereum.org also has both desktop, mobile, and online wallets you can set up.
Buy Ether on cryptocurrency exchanges
The vast majority of cryptocurrency exchanges will allow you to buy and sell Ethereum. Even Bitcoin purists like Coinbase have warmed to Ether. It’s worth shopping around for the best rates. However, it’s hard to go wrong with the most prominent exchanges. Here are some of the exchanges selling Ether:
- Coinbase
- Bitfinex
- Bithumb
- Binance
- Bitstamp
- Kraken
- eToro
- BitPanda
- Gemini
How to buy Ether anonymously
Although the easiest way to buy Ether is online, there can be reasons to purchase it anonymously. Many users are worried about security and data protection. Most online exchange services require you to disclose personal information to trade. If that’s not your cup of tea, there are a couple of ways to get around it.
Buy Ether from Ethereum ATMs
Bitcoin ATMs are becoming increasingly popular, but they’re by no means the only crypto-ATMs out there. Ethereum ATMs are also becoming a more common sight in bigger cities. Once you’ve located the nearest Ethereum ATM, you scan your wallet’s QR code with the ATM’s camera.
Buy Ether with cash
For every Bitcoin platform, there seems to be an Ethereum equivalent. LocalBitcoins allows you to cut out the middleman and trade directly with peers. LocalEthereum does the same. It is a platform where interested parties can get in touch to trade Ether. It is comparable to eBay, where you contact other users directly and arrange orders and delivery.
Join an Ether meetup group
Not everyone feels comfortable trading with stranger on the Internet. Fortunately, there are a number of Ethereum meetup groups. Here, you can meet fellow Ether enthusiasts in person, discuss the latest developments in the community, and trade tokens.
Stay safe
When you make an Ether transaction, it’s permanent. There is no way to recall the money in case you made a mistake. That’s why it’s very important that you double-check both the amount you’re sending and the address youre sending it to. It’s also a good idea to add as many layers of security as possible. Use two-factor authetication to protect your Ether wallet. Stay safe!