Buy Ethereum Classic [ETC]
It might confuse some of our readers that apart from a well-known Ethereum (ETH), there is Ethereum Classic (ETC). The token is popular among crypto traders, and it’s included in the top 20 crypto assets by market capitalization on CoinMarketCap. In this article, we will describe the token, cover similarities and differences between ETC and ETH, and sum up the ways of purchasing the asset.
A brief description of Ethereum Classic
Ethereum Classic (ETC) emerged after the ETH hard fork in 2016. The craters of ETC are Vitalik Buterin and Gavin Wood. After the infamous ETH hack, the opinions of high management began to divide. As it often happens in such cases, the decision was made to create a separate network to eliminate the consequences of the hack. The developers claim that ETC does not have official management, and everyone can equally participate in the development of the asset.
A notable difference between ETC and ETH is that Ethereum Classic will not shift to PoS, while the developers of the native blockchain have made a strong statement about their intentions to do so.
How to buy Ethereum Classic?
Where to buy Ethereum Classic
As cryptocurrencies gain popularity all over the world, new ways of purchasing follow. Let’s look through the most popular ones.
Buying Ethereum Classic on centralized exchanges
The most widespread method of purchasing crypto assets is on centralized exchanges. It is used by both experienced traders who benefit from trading functionality and crypto newcomers who are offered a user-friendly interface. There are different ways to buy cryptocurrencies on CeXs:
- via exchange;
- vie bank card;
- via placing an order.
Choose a centralized exchange responsively. Consider factors such as security, ease of use, and reputation. Besides, you should check the available trading instruments, for it can boost your gains. Please note that different transaction fees differ depending on the exchange. For example, WhiteBIT implements a low fee policy (of the most profitable out there).
Buying ETC from exchangers
You can buy Ethereum Classic on crypto exchangers. This method is rather simple and fast. The main advantage of such platforms is the elimination of formalities. Besides, modern exchangers offer plenty of payment methods. However, there are some disadvantages, including high fees and the possibility of losing your assets as a result of mistakes while filling in personal data.
Buying ETC on P2P platforms
Purchasing Ethereum Classic is also possible without 3rd party interference and transaction fees. On P2P platforms, crypto assets can be purchased directly from other users. Please note that your payment system or a bank may still impose fees. Although P2P platforms slowly but steadily gain recognition, they are still not as popular as CeXs and crypto exchangers. This is due to the low security and uncertainty about users’ credibility.
Buying Ethereum Classic on WhiteBIT
You can purchase ETC on WhiteBIT in 2 ways:
Placing an ETC/USDT, ETC/BTC, or ETC/USD order:
- Deposit BTC, USDT, or USD.
- On the Spot balance page choose the asset.
- On the “Trade” page, choose the pair in the “Market” frame.
- Choose the order type.
- Enter the amount and a sum, then place an order.
- Go to the “Exchange” page.
- Choose a pair.
- Enter a sum.
- Agree to the user agreement and proceed.