Buy Ethereum [ETH]
How to buy Ethereum
Everyone who knows about cryptocurrencies is familiar with Bitcoin. However, the crypto market continues developing, and there are plenty of altcoins (crypto assets that are not Bitcoin) worth mentioning. One of such assets is Ethereum (ETH). What is ETH? How and where to buy it? We will cover this and more in the article.
Ethereum is an altcoin created in 2015. Today, it’s the world’s second most popular crypto with 18% of the market share. Ethereum was originally intended for creating decentralized apps based on smart contracts. Now, ETH is widely used as a payment method.
Similarities and differences between ETH and BTC
Ethereum is very similar to Bitcoin in its nature: it can be mined, and the information about operations inside the blockchain is stored on all nodes in the network. However, there are significant differences. First, unlike BTC, ETH has unlimited total supply. Second, blocks in the Ethereum network generate much faster. Moreover, the functionality of BTC comes down to payments, while Ethereum is a wide ecosystem that allows users to base their products on its blockchain. Today, ETH is mined, but in May 2021, the company announced intentions to shift to the Proof-of-Stake algorithm. This will allow reducing the energy consumption up to 99,95%.
How do I buy Ethereum?
Where to buy Ethereum?
ETH can be purchased in different ways. However, newcomers should thoroughly examine each method to prevent financial losses.
Consider purchasing ETH on a centralized exchange. This method is safe and convenient. You can do it quickly on WhiteBIT. Let’s look through the advantages of this way of buying:
- Many deposit and withdrawal means.
- Profitable exchange rate.
- Large amounts of crypto are available.
Buying crypto on exchange platforms comes with fees (the amount varies depending on the chosen asset, payment method, and the platform itself). This way of buying crypto is considered risky due to possible scams.
Users who don’t want to trust their assets to a third party can buy ETH on decentralized P2P platforms, where buy/sell operations are conducted directly between two interested parties. Buyers and sellers find each other and make deals without intermediaries.
Our P2P platform Bitcoin Global has several advantages:
- No fees.
- Easy to use.
What to do with Ethereum
Buy ETH on WhiteBIT
On WhiteBIT, you can purchase ETH in several ways.
For fiat via bank card:
- On the Spot balance page, press “Buy crypto with credit card”.
- Choose an asset and a sum.
- Agree to the platform’s terms of service and press “Proceed to payment”.
Exchange fiat or another crypto for BTC:
- On the “Exchange” page choose a pair.
- Enter a sum in the field “I give”.
- Click “Exchange” and then press “Yes”.
Add funds to your balance and place an order.
- On the Spot balance page choose UAH and click “Deposit”.
- Choose a payment method and a sum.
- Click “Request”.
You will be transferred to the payment page. After it, follow the instructions.
You can manage your orders on the “Orders” page.