How To Buy Cryptocurrency Other Than Bitcoin
Over the past 12 months, the cryptocurrency market capitalization has almost quadrupled, to $ 764 billion. The total value of all altcoins, excluding bitcoin, has grown from $ 60 billion to $ 225 billion – more than 270%. But, despite such impressive dynamics, the expectations of a continuation of the upward movement in 2021 remain.
Bitcoin certainly dominates the cryptocurrency market today and is the better-known coin, but many believe that Ethereum, which came six years later and is more technically advanced, could become a competitor to Bitcoin that will eventually surpass it. However, since each of the platforms is geared towards different things, there is no doubt that there is room for both of them in the cryptocurrency industry.
Ethereum has surpassed Bitcoin in daily trading volume. In the altcoin network, transactions were made for $ 12 billion, which is $ 3 billion more than the main cryptocurrency. And that is one of the reasons to know how to buy Ethereum.
You can buy Ethereum for dollars, euros and other currencies in the following ways:
- Buying Ethereum on specialized exchanges where they sell, buy, trade cryptocurrencies. Popular exchanges: EXMO, Currency, Bitmex, Binance, Livecoin, Bybit and others.
- In reliable cryptocurrency exchangers.
- On p2p exchanges: Cryptolocator, Binance p2p, PaxFul, Monabey, LocalCryptos, LocalBitcoins, BitPapa, Bitzlato, Hodl Hodl etc..
- In payment systems: Advcash, Payeer and others.
One of the safest and most profitable way to buy Ethereum is buying on an exchange. Cryptocurrency exchanges offer the most current exchange rates, it is also possible to create a pending order and make a purchase at the desired price. The security of the platform depends on its leadership. You need to choose an exchange based on its reputation and period of work. The longer the site exists without hacks, the less risk.
Methods for buying on the EXMO exchange
Users who have passed all stages of verification (identity, address, card affiliation) have access to all methods of replenishing an exchange account. EXMO accepts many traditional currencies, including: USD, EUR, TRY, GBP, RUB. There are three ways of making deals on the site. To implement them, you need to enter the sections “Trades”, “Quick exchange” or “Buy cryptocurrency”.
The purchase of Ethereum step by step
For clarity, let’s consider the purchase of Ethereum step by step on the EXMO exchange.
- Registration: First, we need to create an account on this exchange. To do this, go to the official page of the trading platform https://exmo.me. Then, in the upper right corner, click the “Registration” button and fill in the fields in the form that opens. After confirming your mailbox, we can proceed to the next step – verification.
- Verification: To pass identity verification, you will need an identity document and 5 minutes of time. Go to the Verification tab and follow the simple instructions on the site.
- Refill account: Go to the Wallet section, it is located at the top right, and select the currency we need.
- Buying a coin: After the funds are credited to the account balance, you can start purchasing ETH. To do this, select the ETH pair with the fiat currency for which we will buy coins. Here, at the top of the page, we will see a graph of the change in the value of this cryptocurrency depending on time, the maximum and minimum price for 24 hours and the absolute price change in percentage.
We need a block called Buy ETH. It has a switch for Limit, Market and Stop. The first is responsible for buying Ethereum at a price that suits you, the second will be useful if you want to buy Ethereum coins right now at the market price. To receive Ethereum cryptocurrency, fill in the Quantity field, indicating the required number of coins, and, if necessary, indicate the price. The Total field and commission are filled in automatically.
- Balance check: After the execution of your order, you will see a message about this and the required amount of Ethereum coins will be credited to you balance.
Ethereum is just an example of cryptocurrency which you can buy other than bitcoin. Many other cryptocurrency exist which you can trade.
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.