We’ll admit it. When we decided to buy Ethereum we quickly realized we had more questions than answers. Most of all, we wanted to be buying safely and securely. Unfortunately, it isn’t immediately clear what the best way to purchase Ethereum (or any other cryptocurrency for that matter). The good news? It’s easy and doesn’t take long at all.
After reading this article, you will be able to securely:
- Buy Ethereum instantly with a credit card.
- Store your Ethereum safely.
- Sell your Ethereum and move the proceeds into your bank account.
- Move your Ethereum elsewhere (to trade or store offline).
- Monitor and manage Ethereum online or on your mobile phone.
How to buy Ethereum
To buy Ethereum or any other cryptocurrency you need a wallet to store it in. Known for it’s security, U.S.-based Coinbase offers a website and mobile App that allows you to purchase Bitcoin, Ethereum and Litecoin. In addition, it also serves as a wallet for the cryptocurrency purchases you make. Follow these steps and you’ll be the proud owner of ether of your own in minutes!
- Go to Coinbase *
- Go through the Sign-up process. You will need:
- A photo ID
- Bank Account Information (account and routing number) and/or a Credit/Debit card to purchase Ethereum
- About 15 minutes
- As a part of, or after you sign up, we recommend enabling Two Factor Authentication (see below if that’s foreign territory).
- You will be able to buy Ethereum instantly at the current price using a credit card plus a transaction fee.
Buying ether instantly requires a credit card. If you prefer moving funds from a bank account into Coinbase and then using those funds to purchase Ethereum be aware that the clearing process can take about a week.
* The link to Coinbase is our promotional link. You will receive an additional $10 in cryptocurrency when purchasing $100 or more.
Why buy Ethereum from Coinbase
Coinbase is located in the United States, is widely known, and has a form of insurance for money and cryptocurrency they hold. The other reason that we use them is for their security, which is second to none. Learn more about Coinbase security.
Two factor authentication
What two-factor authentication is, as it suggests, is two methods of verifying your identity. The first method is your username and password. The second authentication method has you download Google’s Authenticator App. This app generates unique codes just for you that change every 30 seconds. The only way to log in to a Coinbase account secured by two factor authentication is by having both the account username and password as well as the 6 digit code provided by Google Authenticator during that 30 second period.
Two factor authentication is a must for anyone concerned with securing their Coinbase Ethereum purchase.
Ready to buy some Ethereum of your own? Head over to Coinbase!
Image ‘Ethereum Cryptocurrency & Decentralized Security‘ courtesy of Descryptive, used in accordance with its Creative Commons License.