What is Ethereum?
Ethereum is an open source platform that uses blockchain technology like Bitcoin. The applications difference in Ethereum is that enables developers to build and deploy decentralized. The Ethereum blockchain focuses on running the programming code of any decentralized application (smart contracts). These contracts are used to facilitate the exchange of goods of any value. When running on blockchain these contracts automatically executes actions when specific conditions are met and they can’t be corrupted. The cryptocurrency of the Ethereum network is called Ether. It is used to compensate users for mining full nodes that power the network and paying people under smart contracts conditions to motivate users working on the platform.
How to buy Ethereum?
The best and easiest way you can buy Ethereum it’s using an exchange that allow you to trade fiat currency (dollars, euro, etc.) for Ethereum and some other major coins like Bitcoin, Bitcoin Cash and Litecoin. The most used is Coinbase but there are others like Bitpanda; Kraken; Bitstamp and Gemini for ex. We will use Coinbase on this guide and show you how to create an account and buy some ETH. First of all we go the Coinbase website and click on Sign Up to create a new account
After we create our account and login, we must click on Buy/Sell in the top corner of the page. On the first time it will ask us to add a payment method and we have 2 choices: our bank account or debit/credit card. We should choose one of the options and put our credentials on it to place an order.After that step is complete now we will get a page like this one where we can choose which coin we want to buy and the respective amount. We must select Ethereum and the amount of USD or EUR we want to spend on the coin. I will place an order of 50€ that will give me 0.0497 ETH at the current price of 962.45€ for each 1 ETH. Keep in mind that the price fluctuates a lot in crypto so when you read this the price will probably be higher or lower.
As you can see it’s really simple to buy some Ethereum. After you click on “Buy Ethereum Instantly” it takes some minutes to get them on your wallet. This is a good choice for people who are just starting in the crypto world so they can hold the ETH in their wallet for some time and watch the price go up as times passes (HODL). Another good way to increase your investment is to send the ETH to an Exchange like Binance and trade to another coins like Ripple, Monero, Zcash, Dash, etc. That’s a way to start trading cryptocurrencies because all the major exchanges accept Ethereum as an option to trade directly to other altcoins.
How to Sell Ethereum?
You can sell Ethereum directly on your Coinbase account. It’s the same method that we used to buy but instead you need to choose Sell and you will get a window like this one where you can select how much you want to sell, how much you’re gonna get in your fiat currency and where do you want to receive the funds.
After you fill out all the required fields the money will be sent to your bank account in your fiat currency.
Conclusion: It’s really easy to buy and sell Ethereum
As you can see it’s really easy to buy and sell Ethereum. You just need a Coinbase account for that and invest some of your money into this amazing cryptocurrency. I hope this will help people to get involved with Ethereum because it’s one of the most amazing projects currently. It’s ranked #2 on Coinmarketcap and went from 10.47$ to 1200$ in the last year wich is really amazing and it won’t stop at this price for sure.