How to Buy Ethereum?

The Coin Shark has already had an article about a distributed blockchain-platform Ethereum. We mentioned how it works and told about its internal cryptocurrency called ether.

Today ether is one of the most promising digital currencies. Many startups were implemented on Ethereum platform and the use of blockchain technology expanded significantly.

According to coinmarketcap, ether costs around $700 and its market capitalization reaches almost $69 billion. If you want to hold these coins, the first thing you should do is to create a cryptocurrency wallet. We have already posted an article about these wallets that are used to sell, buy and store digital assets. However, here we have to mention MyEtherWallet (MEW) – free cryptocurrency wallet of Ethereum platform. When you sign up there, a public and a private key will be generated. You will use them to make ETH transactions. There are no fees and agents, everything is free and peer-to-peer. The instruction to the wallet recommends storing your private key printed or download it on USB for security reasons.

MEW is rather convenient and works directly with blockchain stored online. On MyEtherWallet website you will see the link to download a hardware wallet. If you are not Okay with online wallets security you can follow that link and get a local wallet that will download the whole blockchain on your device. You’ll need gigabytes of available memory for this. It’s not that easy to use hardware wallets, so you basically choose between extra security and comfort.  

There are also other services. Some of them support different cryptocurrencies  (Jaxx, Cryptonator, Coinomi, etc.). You can use them if you want to work with many currencies using one tool.

Ready with your wallet? Great!

Now you can join the crypto community.  There are several options to purchase ether. If you have a friend, college, or just any party with whom you agreed to make a transaction, you simply exchange keys of your wallets and send cryptocurrency or fiat money.

You can also use different exchange services or sign up on cryptocurrency exchanges. There are a lot of them nowadays, for example Coinbase, headquatered in the US. More than 13 million users from more than 32 countries choose this exchange to operate Bitcoin, Bitcoin Cash, Ethereum, Litecoin and fiat currencies. Millions of users trade cryptocurrency on exchanges, however, you have to understand that you always bear some risks. There have been many cases when exchanges close, go bankrupt, suffer from cyberattacks or their funds are arrested.

Many people believe Ethereum is a basis of a brand-new really free economy of the future. Blockchain, smart contracts, peer-to-peer payment system is indeed a new form of economic and commercial relations. Some are sure this is as important as the creation of Internet. That’s why ETH is so attractive today. If you decided to invest in this digital currency, we hope we have provided you with the necessary information.

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