Right behind Bitcoin is a cryptocurrency with the 2nd largest market cap and utilization rate. That is none other than Ethereum. Ethereum has its own decentralized open-source blockchain network featuring smart contracts and where other cryptocurrencies operate.
There are a few ways you can buy Ethereum. Below we will go over all the available methods for beginners to advanced users. Whether you have cash, debit card, credit card, bank account, or other forms of cryptocurrencies, you will be able to acquire some Ethereum tokens.
How to buy Ethereum with Cash
For those looking to buy Ethereum with cash, below are a few methods you can use.
One of the easiest methods on the list is Coinbase. The platform allows you to buy Ethereum as well as other cryptocurrencies like Bitcoin with a debit card, credit card, and bank account.
If you have cash that you want to use to purchase Ethereum, all you would need to do is fund a bank account with cash and connect either your debit card or checking account. Once you do this, you will be able to easily buy Ethereum instantly.
With Gemini, you are able to buy Ethereum as well as other cryptocurrencies like Bitcoin. Gemini doesn’t allow you to use a debit card or credit card. The only way to fund this account is with either a Bank Account or Cryptocurrency.
Connect your Bank account to Gemini and first fund your checking account with cash. On Gemini, all you would have to do is specify the amount you want to transfer, select wire transfer or ACH transfer (from your bank account) and get your funds in a few days.
Once your cash has been successfully transferred, you are now free to convert your fiat currency into Ethereum.
Step 1 – When you signup with Cashapp, they provide you with an account that allows you to connect it to your bank account. Using your bank account, you can transfer cash to your CashApp account. You can then take that cash and convert it into Bitcoin.
Step 2 – With Bitcoin now in your Cashapp wallet, you will need to convert it into Ethereum using Changelly. By going to Changelly’s website, you will enter the amount of Bitcoin you want to exchange for Ethereum. The calculator will show you how much Ethereum you will receive.
Step 3 – After clicking the Exchange Now button, you will need to enter your Ethereum Wallet address. This address can be a browser wallet like Metamask or a mobile/desktop wallet like Exodus wallet.
After 6+ network confirmations, your Bitcoin will have been successfully converted to Ethereum and automatically sent to your wallet.
How to buy Ethereum with a Debit Card / Credit Card
The easiest method on this list is Coinbase. After you have signed-up with Coinbase, you will attach either a debit card or credit card to the account. Once that is done, you are free to make purchases to Ethereum instantly.
Coinbase provides you with an Ethereum wallet where you can store your ETH.
Another very easy method for buying Ethereum is by using Changelly. Not only does Changelly allow you to exchange cryptocurrencies, but it also allows you to buy Ethereum directly with a Debit Card or Credit Card.
After visiting the website, you simply click on the Buy tab, enter the amount of money in Ethereum you would like to purchase, then press Buy ETH now to continue. Follow the on-screen instructions to proceed.
Changelly does not provide you with an Ethereum wallet. When purchasing ETH, you must send your funds to an external wallet such as Metamask or Exodus Wallet.
Binance is a crypto exchange service that allows you to trade or exchange cryptocurrencies. Professional traders who are experienced with margin and arbitrage trading use Binance to earn profits.
While Binance is an exchange/trading platform, they offer you the ability to purchase Ethereum as well as other cryptocurrencies directly on their platform. Once you visit their website, all you have to do is mouseover the Buy Crypto tab and select Credit/Debit Card.
When purchasing ETH, Binance provides you with an Ethereum wallet. Even though Binance is secure, it’s recommended to have another Ethereum wallet outside of Binance to store your funds.
Using Your Ethereum
Once you have acquired ETH, you have plenty of options to use it. You can either HODL it and allow it to grow in price based on market conditions. You can invest your ETH into platforms that provide you the opportunity to grow your ETH and earn a certain percentage daily. Lastly, you can trade it for other altcoins using Uniswap, Binance, Coinbase PRO, or Changelly.