Are you looking for the easiest way to buy Ethereum?
Ethereum has grown to become the second largest cryptocurrency.
Not only does the Ethereum blockchain serve as a way to transfer value through ETH, you also have smart contracts, NFTs and much more built on top.
In this guide, I’ll show you how to buy Ethereum in just a few minutes.
How to Buy Ethereum
By following the guide below, you’ll be able to buy and acquire Ethereum in just under 3 minutes from start to finish.
1. Sign Up for a Cryptocurrency Exchange
Crypto exchanges are how we swap our fiat currency into coins on our crypto wallet.
This can be seen as similar to when you use a broker to buy Stocks.
When picking an exchange, we first want one that offers ways of buying Ethereum.
Next we want the highest security with lowest trading fees.
Below I have included my top 3 cryptocurrency exchanges that allow you to purchase Ethereum.
Note: By using the links included on our site, you get discounts on trading fees.
2. Deposit Fiat Money into your Wallet
Now that we have selected our crypto exchange of choice, we need to deposit fiat money.
In the example, I’ll be showing you how to do this on FTX which is my favorite exchange.
To deposit money, head to “Wallet” which is located in the top left of the screen.
On the wallet page look for “Card Deposit” on the right hand side.
Click on this and it’ll take you to the deposit screen where we can deposit any currency with our credit or debit card.
If you want to deposit via bank transfer or wire transfer instead, you can scroll down on the wallet page.
You should now see a bunch of different cryptocurrencies alongside some fiat currencies.
Look for your currency that you want to deposit via bank transfer and then click “Deposit”.
This will popup instructions on how to transfer money onto FTX via your desired payment method.
When you connect your bank account and transfer through your chosen funding method, it will take 24-48 hours for FTX to verify the transactions and fund your account.
3. Go to Markets to get Ethereum
We are now ready to enter the crypto space and buy our ETH coins.
First if you’ve deposited another currency such as GBP, AUD, CAD or anything else, you will need to convert it over to USD.
To do this locate the currency you deposited in your wallet, look for the “Convert” button on the right hand side.
Click it and exchange your currency for USD.
Now you’ve obtained USD on your account, we can begin trading.
Go to “Markets” located in the top left.
Then click on “Spot”.
You should now see a variety of crypto coins we can trade.
Search for the “ETH/USD” trading pair.
Click on “ETH/USD” once found.
4. Buy Ethereum
We have now arrived on the page where can buy our Ethereum coins.
This page may be slightly overwhelming, but it’s very simple and easy to get used to.
On the left side you’ll see the graph. This displays historical price action for the coin.
In the middle we have the orderbook which displays orders other traders have placed. These are in the form of “Bids” and “Asks”.
On the right hand side you’ll see “Buy ETH” and “Sell ETH” this is where we buy and sell the coin.
First we want to change the order type to a “Market Order”. To do this click the dropdown box where it says “Limit Order” and change it to a “Market Order”.
Once we’ve done this we can buy easily by entering the amount of Ethereum tokens we want to buy in the “Amount” box.
This should automatically calculate the USD value next to it.
If you are satisfied with the amount you can press the big green “Buy” button.
Congratulations you have now successfully bought Ethereum!
What is Ethereum?
Ethereum is a decentralized blockchain, built through a peer to peer network.
You can securely execute code and decentralized applications on the Ethereum network, through the use of smart contracts.
Transaction records are stored forever and are immutable. As they are securely distributed across the network they are verifiable and can never be changed.
Transactions can be sent between user created accounts on the Ethereum network.
To process transactions across the Ethereum blockchain, users must use the native cryptocurrency of Ether.
How much does it cost to buy 1 Ethereum?
It costs $2542 to buy 1 Ethereum as of 11th March 2022.
Ethereum’s price fluctuates, therefore when trading Ethereum the price may be different.
Where is the best place to buy Ethereum?
The best cryptocurrency exchange to buy Ethereum is FTX.
FTX is a crypto exchange for crypto trading and crypto investment.
Do I need a wallet to buy Ethereum?
No you do not need a wallet to buy Ethereum.
Most cryptocurrency exchanges come with a wallet that you can use to store your digital currencies.
Once you have purchased ETH, it’s recommended to move your digital currency to a hardware wallet, to give you complete control.
Can I buy less than 1 Ethereum?
Yes you can buy less than 1 Ethereum.
Most exchanges have a minimum limit that is around $5-10 per trade.
So before you make your crypto investments, make sure you have at least $5 to fund your crypto exchange account.
How do I open an Ethereum account?
To open an Ethereum account you first want to open an exchange account, this is very similar to a bank account.
On these centralized exchanges, you can buy and sell Ethereum directly to your wallet.
The trading platform will first require you to sign up and verify your identity, before you can begin buying Eth.
How do I sell Ethereum?
To sell Ethereum, use the same method that you used to buy the crypto assets.
You can sell Ether on FTX by pressing the “Sell ETH” button.
Enter the amount and click “Sell”.
Is Ethereum a good investment?
Ethereum is the second largest cryptocurrency and has fantastic past performance.
Making an Ethereum investment is risky, as is any other cryptocurrency investment.
It’s important you do independent research and understand the risks involved.
Cryptocurrencies are highly volatile and therefore require a high risk tolerance.
Before you buy crypto checkout some educational resources.