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How to Buy Ethereum Instantly and Safely

So here’s a quick no-nonsense guide on how you become the owner of some Ethereum fast and easy:

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Ethereum
Mining Ethereum does not require large amounts of processing power as is the case with Bitcoin. Pixabay

Buying Ethereum may have been on your mind for some time now given how good of an investment it is proving to become.

So here’s a quick no-nonsense guide on how you become the owner of some Ethereum fast and easy:

  • Get an Ethereum wallet: Don’t be that person who goes shopping for Ethereum without having a secure wallet to store the coins in. Ledger and Trezor are highly recommended when it comes to hardware wallets and there are some decent software wallets that you can take a look at as well. Hardware wallets are generally considered safer because they are harder to hack and your information is not stored online.
  • Buy Ethereum with Credit Card: This is the easiest way to buy Ethereum. You can use CoinSwitch for this. Setting up an account takes very little time compared to the rigorous verification most other exchanges ask you to go through. CoinSwitch is the world’s largest aggregator of cryptocurrency exchanges and has minimal withdrawal and transaction fees making it the best exchange for you to purchase Ethereum with your credit card. In fact, you can even use a pre-paid credit card to avoid divulging any personal information.
  • Buy Ethereum with Bitcoin: This method is more a trade than a purchase but you can easily do this. Again, the best place to do is CoinSwitch because it has the best exchange rates possible. Simply connect your wallet to CoinSwitch and make the purchase within minutes (provided the transaction isn’t large). CoinSwitch allows you to trade between 45,000 pairs and supports over 300 crypto coins. However, make sure to double-check on the daily and monthly limit if you plan on doing this regularly.
  • Ether ATM: You can always use a local Ether ATM machine much like you do for fiat currencies to buy Ether. This is not the fastest way as you actually have to locate one but when Ether ATMs are more widespread, it could be a viable way.
  • Bank Transfer: You can always fiat currency to buy Ethereum. Make sure you are aware of the exchange rate before you start the transaction.
FILE – Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies, Feb. 13, 2018. VOA
  • Use the mobile wallet app: Some apps have integrated exchanges within the app itself. This is a very convenient way to convert your holdings to Ethereum or purchase Ethereum directly.
  • Peer-to-peer marketplace: Local Etherum allows you to find peers within your locality who are willing to sell Ethereum for cash, bank transfer, PayPal or other peer-to-peer cash apps. The key is to not conduct large transactions through the site and always read seller reviews. The site has an escrow account which prevents scammers from duping you.
  • Send the money to your wallet: This is the last step but the most crucial one of all. You just need your Ethereum address to send the money from the exchange to your wallet.

Also Read: Big Business and Politics Mass-Mining Everyday Data from Facebook Likes to Online Subscriptions

Apart from these methods, you can always mine Ethereum. Mining Ethereum does not require large amounts of processing power as is the case with Bitcoin. However when it moves to PoS algorithm instead of the PoW that it uses now, mining may not be as lucrative. How much you can make from mining depends on

  1. Hash Rates
  2. Mining power
  3. Electrical cost

 

Next Story

Twitter Planning Bitcoin Payments as Tips on its Platform

Dorsey has also hired Bitcoin developers for his payments company

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twitter, white swan, suicide, awareness
Twitter is a social media app that encourages short tweets and brief conversations. Pixabay

Twitter is considering a feature that would allow users to tip one another – in Bitcoins though.

The Information reports that the micro-blogging platform is working on implementing a new payment feature to let people send money to each other.

It is not yet clear whether the Twitter tipping feature would integrate with Jack Dorsey’s other company, Square, which is a financial services, merchant services aggregator, and mobile payment company based in San Francisco.

Dorsey has made absolutely no secret of his love of Bitcoin over the years.

NewsBTC has reported on the Twitter CEO opining that Bitcoin will one day be the currency of the internet and his company Square integrating cryptocurrency payments.

Business, Twitter, Invest, Investment, Start-up, Kochi
A man reads tweets on his phone in front of a displayed Twitter logo. VOA

“Dorsey has been a major investor in the Bitcoin micropayments solution Lightning Network,” said the report.

Dorsey will move to Africa for three-six months this year to “define the future”.

“Sad to be leaving the continent for now. Africa will define the future (especially the bitcoin one!). Not sure where yet, but I’ll be living here for 3-6 months mid-2020. Grateful I was able to experience a small part,” said the Twitter CEO.

Also Read: Apple to Sell 80-85mn iPhones with 5G Connectivity

Dorsey has also hired Bitcoin developers for his payments company.

He is an advocate of digital currency bitcoin but he also says it is “not functional as a currency”. (IANS)