How to buy Ethereum - Tutorial
Ethereum (ETH) is one of the largest crypto currencies in the world. Compared to Bitcoin, Ethereum also supports Smart Contracts. The scope of application of Ethereum is therefore much wider. We want to show you here where you can buy Ethereum and what you need to consider.
Already in 2014 Ethereum was introduced to the world public by a certain Vitalik Buterin at the Bitcoin Conference in Miami. Since then, the technology and the corresponding crypto currency ETH has started its triumphal procession. Unlike Bitcoin, Ethereum can also handle Smart Contracts. This makes it conceivable, for example, that in the future notary services or elections will be based on the Ethereum Blockchain.
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There are many significant differences between Bitcoin and Ethereum. While Bitcoin only finds a new block and attaches the block chain every 10 minutes or so, Ethereum does so every 15 seconds on average. Ethereum transactions can thus be confirmed much faster. In addition, Ethereum is not only a crypto currency, but also offers a broad field of application with the Smart Contracts.
Currently, the Ethereum Foundation and the developer community are working on developing Ethereum 2.0. Ethereum will thus switch from energy-intensive mining (proof-of-work) to proof-of-stake. With this variant, it will no longer be miners who confirm transactions, but every ETH owner can confirm transactions. The environmentally harmful mining is thus eliminated. Ethereum Bitcoin is far ahead of the competition in this respect and can set new standards.
Buy Ethereum with Euro - Summary
- 2. Verify Yourself on the Platform
- 3. Deposit (at least $200) e.g. via PayPal, Credit Card or Wire Transfer
- 4. Now you can buy Ethereum directly
Ethereum Buying Guide
Where can you buy Ethereum?
Who would like to buy Ethereum (ETH) must announce itself with crypto stock exchanges (also Exchanges called). You should pay attention however to the fact that with the crypto stock exchange also Ethereum is traded against euro. Not each stock exchange makes it for you ETH possible to buy ETH against euro. With the largest crypto stock exchange of the world, Binance, all crypto currencies are traded only against other crypto currencies.
Beside the deposit of euro, you should also pay attention to it like you the euro to deposit can. Some crypto exchanges only give you the possibility to transfer Euro credits to the exchange. Since transfers are however very slow, it can partly last a few days until the assets arrive. Faster is it if you can pay in the credits by credit card or PayPal at the respective crypto exchange. eToro for example gives you this possibility.
How to Buy Ethereum
The easiest way to buy ETH is to go to eToro. There you can choose between different payment methods (PayPal, credit card and instant bank transfer), as well as an easy-to-use platform with German support. At eToro you buy real crypto currencies which you can also withdraw with the eToro wallet.
- Regulated Platform
- Good Support
- Large selection of crypto currencies
- Payment also via Paypal and credit card
- eToro app for smartphone and tablet
- New eToro wallet app available
- Cryptocurrencies remain a risky investment
eToro, with its user-friendly design, is undoubtedly one of the easiest ways to get started in Ethereum trading. This provides a platform with special value for all traders who want to buy or sell ETH.
Buy cryptocurrencies with eToro in 3 easy steps
Step 1: Registration
To trade on eToro you first need to log in to the platform. But this can be done without any problems. All you have to do is enter your name, email address and a password. After that you will get access to the eToro dashboard.
As eToro crypto currencies are traded against Euro you also need to verify your identity on the platform.
Step 2: The verification
After opening an account you will also need to verify your identity with eToro. You will need to leave your personal information and upload a photo of your ID or passport. This process is required by European law for all platforms trading crypto currencies against Euro.
If you have provided all the information, the verification can still take a few days. It is advisable to make the deposit during this time, as you will be preferred during the verification process. But don’t worry, if something goes wrong during verification, you will get your money back. We have never experienced this kind of problem before.
As soon as the verification is complete you will be notified by email. If you have already made the deposit at this point, you can start trading immediately.
Step 3: Buy & Sell
Buying and selling Ethereum at eToro is then quite easy. All you have to do is select ETH and then click on “Trade”.
A window will appear where you can buy ETH. All you have to do is indicate how many Euros or US Dollars you want to invest in ETH. In addition, you can set a stop loss, trade with a lever or enter a profit target.
With a Stop Loss you can determine at what loss your ETH should be sold automatically, thus reducing further losses if the price drops significantly. We would not recommend trading with a leverage as this is very risky. Therefore you should always put X1 on the lever, then you will buy real ETH. You don’t need to specify the profit target either, because you can always close the trade manually if you have made enough profit.
Once you have entered everything, you only have to click on “Buy”. The trade will be executed immediately and you will see your newly acquired ETH in your portfolio.
Withdraw cryptocurrencies with the eToro Wallet
In 2018 eToro introduced the so-called eToro Wallet. This is available for both Android and iOS. Now you can also use it to withdraw your crypto credits from eToro. All you have to do is install the wallet on your smartphone. You can then login to the wallet with your normal eToro login.
What payment methods are available to buy Ethereum
Buying Ethereum - The Most Important Payment Methods
Buy Ethereum with Credit Card
Credit cards are convenient and payment is available immediately!
Many people like to buy crypto currencies by credit card. This is usually because credit card payments are immediately available and buyers do not have to wait for the deposit to arrive.
Unfortunately, not all exchanges support credit card purchases or charge very high fees for them. This is different with eToro. You can simply top up your credit card balance and start trading immediately. So you can also buy ETH there immediately with your credit card.
Buy Ethereum with Paypal
Paypal has the advantage that you will be credited immediately and you have the buyer protection.
Only very few crypto exchanges allow you to buy crypto currencies via PayPal. You profit with PayPal particularly by the buyer protection. One exchange which I allow you to buy via PayPal is eToro.
You can simply fund your eToro account via PayPal and then you can start trading and buy Cardano. This makes eToro the big exception compared to other crypto exchanges.
Buy Ethereum via Wire Transfer
Another way to deposit money into your account in order to buy cryptocurrencies is via wire transfer. You don’t pay any fees in order to deposit money. However the disadvantage is that it can take up to 2 business days until your money is finally in your account. If you want to avoid that you can use Rapid Transfer for instant wire transfers. If you are using eToro you can choose if you want to do a regular wire transfer or a Rapid Transfer.
Should I buy Ethereum now?
When is the right time to buy Ethereum? Nobody can really predict. However, it is a fact that ETH has an exciting future ahead of it with Ethereum 2.0 and the change from energy-intensive mining to proof-of-stake.
In general, we are still at the very beginning with crypto currencies and many fields of application are only just being developed. As one of the leading crypto currencies worldwide, Ethereum has the opportunity to further expand its position. After all, many companies have already developed applications based on the Ethereum Blockchain.
Pro und Contra EOS Investment
- ETH is still at the beginning of its development
- Ethereum can offer Smart Contracts
- Already real use cases
- Large developer community
- Investments in crypto currencies are highly speculative
Is the technology the purchase argument for Ethereum
Ethereum has with the very large developer community and the planned technological changes definitely the chance to remain one of the leading crypto currencies worldwide. Because if Ethereum manages to successfully switch to proof-of-stake, environmentally harmful mining would be a thing of the past. In addition, Sharding offers the possibility to scale Ethereum well. At present, the crypto currency allows hardly more than 15 transactions per second. For comparison, a credit card provider like VISA or Mastercard makes several thousand transactions per second.
With which technologies Ethereum wants to achieve this in the future is already clear (Sharding and Proof-of-Stake). Ethereum is now looking to implement these technologies successfully. This puts Ethereum far ahead of other crypto currencies. The coin price depends on whether the integrations will be successful in the next years.
Invest in Ethereum or not?
Nobody can tell you for sure if an investment in Ethereum is worthwhile. All crypto investments have an increased risk because the crypto market is still in its infancy. But this is also a great opportunity for investors. The safest plant possibilities in the crypto range are now once the large crypto currencies such as Bitcoin or Ethereum. Due to the large Community of the two crypto currencies it is difficult to imagine that they are overtaken by other Krypto projects.
Store Ethereum in your own wallet
If you buy Ethereum (ETH) you can either leave it at the stock exchange (eToro, Coinbase, Binance etc.) or you store it on your own wallet. Basically there are 3 types of wallets that you can use to store Ethereum. These are Hardware Wallets, Paper Wallets and Software Wallets.
With the so-called Paper Wallets you simply write your private key on a piece of paper. With this private key you can then access your credit. If you lose the sheet of paper or it is stolen, your credit will be gone. For normal investors Paper Wallets are not really practical.
Much better are the software wallets. You install it on your desktop computer or smartphone and can manage your assets. With a so-called recovery phrase (usually consisting of 24 words) you can restore your credit if you lose the device. If you want to use a software wallet, we recommend the Trust Wallet for the Smartphone. It is available for iOS as well as Android and supports Ethereum.
The safest place to keep your Ethereum is a hardware wallet. The market leader for hardware wallets is the French company Ledger. We recommend you to use either the Ledger Nano S or the Ledger Nano X. Your private keys always remain on the wallet and cannot be stolen. Even if you lose the hardware wallet, you can still recover the credit via the recovery phrase. The ledger also supports the storage of Ethereum.
Conclusion
Ethereum is one of the leading crypto currencies worldwide and will remain so for the foreseeable future. On the one hand the large community and the ambitious plans with the change to Proof OF Stage speak for it. Also the problem of the scalability, which all crypto currencies have, Ethereum seems to have solved with Sharding. The technology now only needs to be successfully implemented. With the possibility to create Smart Contracts Ethereum differs clearly from Bitcoin therefore each crypto portfolio should contain Ethereum beside Bitcoin.
If you want to buy Ethereum for Euro you will find the easiest way at eToro. You can either leave Ethereum directly in your eToro account or transfer it to your own wallet. You’ll also find a German support team on the platform who are available to help you with any problems.
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Ethereum Price and Price Development
Here you can find the current Ethereum price and see how the price has developed.
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