If you’re looking to buy Ethereum (ETH), the world’s second-largest cryptocurrency by market capitalization, you’ve come to the right place. This comprehensive guide will show you how and where to buy ETH in 2020.
Ethereum is a decentralized, open-source blockchain with smart contract functionality. It’s the largest and most well-known decentralized application (dapp) platform, and is also the second-largest cryptocurrency by market capitalization after Bitcoin.
Ethereum enables developers to build and deploy decentralized applications (dapps). Dapps are often referred to as “decentralized apps” or “distributed apps” because they are not subject to any single authority or middleman.
This makes dapps more resistant to censorship, fraud, and third-party interference.
Ethereum’s native cryptocurrency, Ether (ETH), powers the Ethereum network and is used to pay transaction fees for dapps and smart contracts. ETH is also traded on cryptocurrency exchanges like any other cryptocurrency, and can be used as a store of value or an investment asset.
Now that you know what Ethereum is, you may be wondering where you can buy ETH. Read on to find out the different ways you can purchase Ethereum.
Cryptocurrency Exchanges
The most common way to buy ETH is through a cryptocurrency exchange. Cryptocurrency exchanges are online platforms where you can buy, sell, or trade cryptocurrencies for other digital assets or fiat currencies like US dollars.
Coinbase is one of the most popular cryptocurrency exchanges and allows you to buy ETH with US dollars or other major fiat currencies like EUR or GBP. Coinbase charges a 1.
49% fee for buying or selling ETH with a bank account or Coinbase USD wallet, and a 3.99% fee for buying or selling ETH with a credit or debit card.
Kraken is another popular cryptocurrency exchange that allows you to buy ETH with US dollars, euros, Canadian dollars, British pounds, and Japanese yen. Kraken has low trading fees ranging from 0% to 0.
26%, depending on your trading volume over the last 30 days.
These are just two examples of popular cryptocurrency exchanges where you can buy ETH. There are many other exchanges available as well, so be sure to do your research before choosing one that’s right for you.
Peer-to-Peer Exchanges
In addition to traditional cryptocurrency exchanges, there are also peer-to-peer (P2P) exchanges available that allow you to directly trade with other users without going through a centralized exchange. These P2P exchanges typically have lower fees than traditional exchanges because there are no middlemen involved in the process.
LocalCryptos is one example of a popular P2P exchange where you can buy Ethereum without having to go through a centralized exchange like Coinbase or Kraken. .
ATM Machines
You can also purchase Ethereum from certain ATM machines located around the world . These machines allow you to insert cash in exchange for Ethereum tokens , which will then be sent to your digital wallet .
However , buying Ethereum from an ATM machine may be more expensive than buying it from an online exchange , so be sure to compare prices before making a purchase .
Conclusion
Now that you know where you can buy Ethereum , it’s up to you to decide which method is right for you . If you want to purchase Ethereum quickly and easily , then an online exchange like Coinbase or Kraken may be the best option .
However , if you want to save on fees , then a P2P exchange like LocalCryptos may be a better choice . Whichever method you choose , be sure to do your research beforehand so that you can make the best decision for your needs .