how to buy ethereum reddit

Due to its increasing popularity, more and more people are discovering the many perks that come with owning their own piece of Ethereum. The reason why so many people are interested in owning Ethereum is because of its association with Bitcoin. Essentially, Ethereum is a “bitcoin 2.0”, as it was designed from the ground up to be more efficient and accessible to a larger audience. If you’re reading this, then you probably already know what Ethereum is and how it works; therefore, we won’t spend too much time explaining it.

What many people don’t know is how to buy Ethereum – and those who do know how to buy Ethereum don’t always have the best resources at their disposal. Luckily for you, we’re here to fix that. In this article, we will discuss the various methods of acquiring Ethereum, including:

The Easiest Way

If you want to buy Ethereum the easy way, then there are several reputable exchanges where you can do so. Some of the more prominent and well-known exchanges where you can purchase Ethereum are:

  • Changelly
  • Binance
  • Kucoin
  • Upbit
  • Hithere

We’ve compiled a list of the best and most popular cryptocurrency exchanges, in case you’re wondering where to buy your Ethereum.

The Traditional Way

Although it won’t be traditional for long, you can still purchase Ethereum using a credit card and its associated billing address. This way, you won’t need to go through a third party to complete the transaction. The only downside is that this option is a bit less convenient and hasslesome billing cycles. Another option is to purchase an Ethereum wallet to store your coins in. Alternatively, you can ask a trusted friend or colleague to hold them for you – just make sure that they are well secured and encrypted until you’ve had a chance to confirm the transaction.

There are various wallets that you can use to purchase Ethereum; however, to keep things simple, we will only be discussing the two most popular ones. One of the most popular wallets for Ethereum is MyEtherWallet. Enter your delivery address and the wallet will generate your private key. After entering your private key, hit the “Generate Wallet Address” button to create a wallet address for your funds. Once the wallet address has been generated, click on the “Scan Qr Code” button to have the wallet scan a bar code or use the “Fingerprint Auth” button to use your fingerprint to authenticate the transaction.

Another popular Ethereum wallet is Metamask. Similar to MyEtherWallet, Metamask is an Ethereum wallet that is extremely easy to use. To get started, just click on the “Start” button to have the wallet scan a QR code for you. After that, all you have to do is confirm the transaction and enter an email address to receive a notification when the transaction has been verified.

The Old Way

In some situations, you may still need to use a bank account to purchase Ethereum. This is due to outdated legislation that was put in place during the financial crisis of 2008. If you are using a credit card to make a purchase and don’t have a bank account – or if your bank account is closed for financials reasons – then you will need to get in touch with a rep at your bank to get a business checking account opened. From there, you can fund your account using a credit card and proceed with your purchase.

If you are planning on doing a lot of transactions then it is advisable to invest in a hardware wallet. These wallets are entirely different from the software wallets discussed above in that they store the private keys of all the cryptocurrencies that you own directly on the device itself. As a result, your private keys are never at risk of being exposed online. Some of the more popular and reputable hardware wallets that you can use to purchase Ethereum are:

  • Ledger Wallet
  • Trezor Wallet
  • KeepKey Wallet
  • Autumn Wallet
  • Nano Wallet

The Dark Way

If you want to purchase Ethereum using some obscure cryptocurrencies or fiat currency, then there are several ways to do so. Since Ethereum is mostly used as a platform for various ICOs and other cryptocurrency-related ventures, it’s fairly easy to find the funding for the desired purchase. For example, if you want to purchase 100 units of Ethereum, then all you need is a coin that is valued at $100. In this case, you can use the obscure and little-known cryptocurrency LBRY Credits to make the purchase.

Alternatively, if you want to purchase Ethereum using a credit card and its associated billing address, then all you need is an escrow service. However, doing business with an escrow service is a little more complicated; therefore, in that case, you might want to purchase some bitcoin first and use it to open an account with the escrow service. Once the account has been opened, you can use the credit card to make the purchase.

In conclusion, there are several different ways to buy Ethereum. As mentioned above, the two most popular and straightforward ways to do so are:

  • Using a credit card
  • Purchasing bitcoin first and then using it to purchase Ethereum

Although the first two options are the most popular and straightforward ways to buy Ethereum, they’re also the most vulnerable. Since your private keys are still easily accessible on the internet, it’s relatively easy for an attacker to gain access to your money. To prevent this from happening, you’ll need to take certain steps to ensure that your money is safe and secure. For example, you can use a different credit card for online purchases or make sure that your account is protected with a password and two-factor authentication. Also, make sure that your cryptocurrency exchange and wallet are fully secured with a strong and constantly updated passphrase.

Schreibe einen Kommentar

Deine E-Mail-Adresse wird nicht veröffentlicht. Erforderliche Felder sind mit * markiert