Buying Ether the Safe Way

314

Until just recently, consumers could only buy Ether (a form of cryptocurrency) with just Bitcoin (another type of crypto). However, the rise of diverse exchange sites has now made it possible to buy ether with regular currency.

With ether gaining popularity in recent years, several exchange sites have become available and they offer additional cryptocurrency services. As a result, with a bank account or debit/credit card that is cleared for international transfers, one can simply register with an exchange site of choice and buy ether directly using FIAT currency such as Euros, USD or GBP.

Enthusiasts can also trade bitcoins for ether on most exchange sites. This is especially easier since verification is only done once. Buying ether is actually easy and anyone who meets the basic requirements can do it. Here are some of the most reliable and secure exchange platforms where ether can be bought.

Coinbase

Coinbase is an exchange platform for ether, bitcoins and litecoins. It is one of the best sites for users who want to buy cryptocurrencies for the first time. Coinbase comes with a friendly user interface and offers a number of payment methods.

To buy ether from Coinbase, users just need to open an account, add a payment method and once the account is set up, they can start buying immediately. It works promptly and is constantly updated to ensure it runs without a hitch. The only disadvantage to using Coinbase is that they track cryptocurrency spending and wallets are not as secure as ones that are fully under an individual’s control.

CEX.io

This is an exchange site that sells ether through a credit card. It is one of the most reputable firms and arguably more convenient than other sites such as Coinbase since it is available in more countries than most platforms.

The exchange rate on CEX.io is inclusive of fees which is why its rates seem higher than most of its competitors. To buy ether, users simply register on the website, configure and verify their credit cards, select the amount they would like to sell or buy then finally exchange their currency for ethereum. This is a great option for beginners though litecoin was unlisted from the exchange site.

Coinmama

The other great option where users can even make credit card purchases of ether is from Coinmama. It is a popular exchange site since it caters to just about every country. Transactions on the site are swift and users do not have to verify their accounts if they are buying ether worth $150 or less. It also has one of the most effective and responsive customer care services.

However, there is a catch: once a person buys ether, they cannot sell it back to the site and get their FIAT currency back. It is also more suited for users with a bit of experience because they need an ethereum address from a separate wallet service. A Coinmama account does not come with any. For an exchange site that offers high credit card purchase limits, Coinmama has higher fees than most sites.

Cryptocurrencies are arguably the hottest topic in tech right now. For those who want to jump on the bandwagon early enough, the above platforms are a great place to start, whether they’re buying ether or other forms of cryptocurrencies.

Melissa Thompson writes about a wide range of topics, revealing interesting things we didn’t know before. She is a freelance USA Today producer, and a Technorati contributor.