Ethereum (Ethereum) with the abbreviation ETH is the second largest cryptocurrency market after Bitcoin. In other words, Ethereum, or more precisely Ether, is the second largest digital currency in the world, which is why it is also called the “Queen of Digital Currencies”. In this article, you will learn how to buy Ether in the easiest way and have it in your wallet.
A summary of buying Ethereum
- The best way to buy Ethereum is to visit a digital currency exchange.
- These exchanges are actually sites on the Internet, and in this way, you don’t need to go in person to buy Ether.
- Before buying Ethereum, it is better to install an Ethereum wallet on your mobile phone or PC. Ether software wallets are completely free.
- Of course, you can also store your Ethereum on exchanges; But if you have them on a personal wallet, you have more control over your assets and peace of mind.
If you live in Iran, one of the most common ways to buy Ethereum is to visit local websites. To find the best Ethereum buying and selling rate between Iranian digital currency exchanges, you can use the best Ethereum buying rate page.
If you live abroad, you can easily buy Ethereum with debit or credit cards such as Visa and Mastercard. The following four sites are among the largest platforms available for buying Ether with a credit card:
- Coinbase.com
- Bitstamp.com
- Changelly.com
- binance.com
However, a site can be more popular than the country of residence. You can find the best possible site to buy ether with a credit card by searching for “Buy Ethereum” along with the country name.
This was a summary of how to buy Ethereum. If you want more details, read on.
A little about Ethereum
The idea of Ethereum was presented in 2013 by Vitalik Buterin, a young Russian genius. In fact, Ethereum can be considered a global computer on which any centralized process that is performed on the Internet today can be executed in a decentralized manner.
The important point here is that no one is the main owner of this network, but its control is in the hands of its users, and unlike centralized systems, no one can own it alone.
Developers can build decentralized applications on Ethereum, applications that no one can stop and prevent from running. They can also create their desired digital currency on Ethereum, which they call “tokens”, without building a separate blockchain and network.
The name of the digital currency of the Ethereum network is “Ether”, which is used to transfer money, pay fees, pay for decentralized programs, etc. For this reason, this digital currency is valuable and can be invested or traded.
It can be said that investing in Ether is the same as investing in the Ethereum network. Obviously, if Ethereum achieves its goals and gains acceptance among people, the value of Ether will increase, and on the contrary, if this project does not succeed, Ether will lose its value.
Therefore, like any other market, investing in Ether is associated with risk and cannot be considered profitable with certainty. The price of Ether, like any other asset, goes up and down with supply and demand. Ether is stored on digital wallets, which we will explain below.
This was a brief explanation of Ethereum. To learn more about Ethereum, you can go to the article “What is Ethereum?” See.
Learning to buy Ethereum
To buy Ethereum, in general, two main steps can be considered:
- Installing an Ethereum wallet
- Visit an exchange website
Installing an Ethereum wallet
Before buying Ethereum, you need a place to store Ethers. You can think of an Ethereum wallet like your bank account, which can be used to receive, store, and send Ethereum.
Ethereum software wallets are free and easy to install on mobile phones (Android and iOS) or PCs (Windows, Linux and Mac).
Some wallets are also web-based and can be connected to internet browsers (such as Chrome). But more secure hardware wallets are physically available and must be purchased.
Here are the four Ethereum storage wallets with the largest number of users:
Ledger hardware wallet
The French company Ledger is the largest manufacturer of hardware wallets. Ledger hardware wallets store assets completely securely and offline. The two Ledger nano S and Ledger nano X models are the best production models of this company, which support almost all valid digital currencies in addition to thousands of tokens (Tokens based on Ethereum, IAS, etc.). Hence, one wallet is enough to hold most cryptocurrencies.
Trezor hardware wallet
Another best option for storing Ethereum is Trezor. Trezor, headquartered in the Czech Republic, is considered the first manufacturer of Bitcoin hardware wallets for the public, but in terms of sales, Ledger has been able to outcompete this company for two years.
However, Trezor wallets are also very secure. The most famous product of this company is the Trezor One wallet, of course, a newer product named Trezor Model T has been released.
These two products are not much different in terms of security, but the T model has more beauty and accessories. Also Ripple One model and some other digital currencies does not supportbut Model T also covers these currencies.
MyEtroalt wallet
MyEtrowallet is a website or more precisely a software on the Internet that allows you to create a wallet and carry out transactions of Ethereum and its related tokens. In other words, MyEtherWallet is not a fully web wallet and never stores your private key on its servers.
This site actually allows you to create your own wallet and save and use it wherever you want. This site also has mobile software for easier access. To create an Ethereum wallet with MyEtherWallet, just visit Myetherwallet.com.
Trust Wallet wallet
“Trust” is a multi-currency wallet owned by the large Chinese exchange Binance and is considered one of the best Ethereum wallets for Android and iOS.
Perhaps the most important advantage of trust is its simplicity and user-friendliness. The main drawback of this wallet is that it is currently only available for mobile phones and is not available for PCs. You can visit Trustwallet.com to download Trustwallet.
Except for these four wallets, there are dozens of other wallets for Ethereum, which you can refer to the wallets section of the website of Erzdigital to get to know all of them.
Untrusted wallets can contain malware and steal your assets. Therefore, we recommend using a wallet that is used by a large number of users and has stood the test of time.
To receive Ether, you must provide your Ethereum wallet address to the seller at the time of purchase. Ethereum address is a text string that is displayed to you inside the wallet and is used like a bank account number to receive money.
Remember that in the world of Ethereum and other digital currencies, you are responsible for maintaining your assets. For example, if you lose your internet banking password, you can easily recover it, but not in the blockchain world.
Be sure to make a backup copy of your wallet so that you can recover your funds if the wallet password is lost or the device on which the program is installed is damaged. Wallets usually provide you with a set of 12 or 24 English words for backup, which you should write down in a safe place. With those words you can easily access your assets in case of any problems.
Visit an exchange website
To buy ether, you need to go to a digital currency exchange. Do not forget that a digital currency exchange is different from a traditional exchange. You have probably realized by now that Ether has no physical form and is completely digital. Therefore, it is not necessary to buy Ether in person like in traditional exchanges, but it is done online and through the Internet.
As an Iranian user, there are three main ways to buy Ethereum:
- Buying Ethereum from Iranian exchange websites with Rial (bank card)
- Buy Ethereum from foreign exchange websites with Tether, Bitcoin and other digital currencies
- Buying Ethereum from foreign exchange websites with dollars, euros, etc. (with international accounts such as Visa, Mastercard, etc.)
If you live in Iran, the first and second options are more suitable for you. The third method is to buy Ethereum from foreign sites with dollars and euros, because of the international sanctions against Iran, it cannot be done directly, and you have to get help from intermediaries (credit card sites), which increases the cost.
Buying Ethereum from Iranian exchange websites with Rials
Due to the large Ethereum market, this digital currency can be easily bought and sold alongside Bitcoin in most Iranian digital currency exchanges. Visit a reliable Iranian site and easily buy Ethereum.
Where to find a reliable site? Search Google for “buy ethereum” and you will come across a plethora of sites where ethereum is bought and sold. Usually, the websites on the first page of Google are all valid and can only differ in price and quality of service.
For example, an exchange can have higher liquidity or better support than others. However, don’t rely on Google and be sure to check the validity of an exchange before signing up. Checking the address, phone number and activity history are among the most important things that you should check.
To be more sure of the commitment and quality of work of an exchange, you can refer to the list of the most reliable Iranian digital currency exchanges.
After visiting the Iranian exchange and registering in it, you must authenticate by sending a picture of your identification documents. Authentication is done so that the exchange can be sure that you are the person who bought the Ethereum. This is done to prevent possible fraud.
In some Iranian exchanges, buyers and sellers are real people, and the exchange only plays the role of an intermediary and takes a small fee from each order for its services. In some other exchanges, users transact directly with the exchange itself. After buying Ethereum, some sites deliver Ether to wallets on the site, but for more security, you can transfer your Ethereum to a personal wallet.
Buy Ethereum from foreign exchange websites with Tether, Bitcoin and other digital currencies
If you have Bitcoin, Tether, and other digital currency, you can convert them to Ether at international exchanges like Kocoin.
For this method, you often have to go to Iranian exchanges to buy Bitcoin or Tether and then convert it to Ether.
This method is mostly used when an Iranian exchange does not have Ether or the cost of buying Ether directly is high.
Note that international exchanges refuse to provide services to users living in Iran due to sanctions, and therefore there is a risk of account blocking. However, most Iranian users are currently using Kocoin. You can learn how to convert digital currencies in this exchange in the “Cocoin Exchange Training” article.
Buying Ethereum from foreign exchange websites with dollars, euros, etc.
If you live abroad or have managed to get a credit card in any way, this option is suitable for you, otherwise if you want to use intermediaries, it does not make sense to buy Ether with common foreign currencies due to the increased cost.
Coinbase, Bitstamp and Binance are the biggest exchanges where you can buy Ether with your credit card (Visa and MasterCard). Changelly is another prominent site where it is possible to buy digital currencies with a credit card.
Usually, in each country, one method of purchase is more popular than the other. For example, in Australia, most users use the Coinspot website to buy cryptocurrencies.
To find the right way to buy ether in your country, just google the word “Buy ethereum” with the name of your country; Example: Buy Ethereum in Australia.
Frequently asked questions about buying Ethereum
no You can buy fractions of Ether (eg 0.1 or less).
The answer to this question can be different for everyone. But most Iranian users go to Iranian exchange sites to buy Ether. A group buys Bitcoin or Tether from Iranian sites and then converts them to Ethereum in foreign exchanges such as Binance.
Yes, Ethereum can be mined. For this, you need a powerful graphics card for mining. Don’t forget that Ethereum mining is not possible with normal computers and you need to get a special mining system or “mining rig”.
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