Buy eth with bitcoin

Where to buy ETH

Current ETH price (USD)

Centralized exchanges

Exchanges are businesses that let you buy crypto using traditional currencies. They have custody over any ETH you buy until you send it to a wallet you control.

Decentralized exchanges (DEXs)

If you want more control, buy ETH peer-to-peer. With a DEX you can trade without giving control of your funds to a centralized company.

Wallets

Some wallets let you buy crypto with a debit/credit card, bank transfer or even Apple Pay. Geographical restrictions apply.

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What country do you live in?

Exchanges and wallets have restrictions on where they can sell crypto.

Enter your country of residence to see a list of wallets and exchanges you can use to buy ETH

Decentralized exchanges (DEXs)

What are DEXs?

Decentralized exchanges are open marketplaces for ETH and other tokens. They connect buyers and sellers directly.

Instead of using a trusted third party to safeguard funds in the transaction, they use code. The seller’s ETH will only be transferred when payment is guaranteed. This type of code is known as a smart contract. More on smart contracts

This means there are fewer geographical restrictions than with centralized alternatives. If someone is selling what you want and accepting a payment method you can provide, you’re good to go. DEXs can let you buy ETH with other tokens, PayPal or even in-person cash deliveries.

You will need a wallet to use a DEX.

Buy with traditional currencies

Buy ETH with traditional payment types directly from sellers.

Источник

5 Best & Easy Ways to Buy Ethereum

This guide shows you all the best ways to Buy Ethereum.

Don’t worry — we’ll only show you ways to buy ETH that we’ve actually tested.

So…if you’re looking to buy Ethereum quickly, easily, and cheaply, look no further!

Quick Info: Popular Choices to Buy Ethereum

This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

• Exchange based in Canada
• Very high buy and sell limits
• Supports Interac & wire

Chapter 1

Steps to Buy Ethereum

Before we get to the specifics, let’s briefly cover the steps required to buy Ethereum.

After that, we will get into specific platforms to use depending on how you want to buy the ETH.

1. Determine a Payment Method

This step is really simple.

You need to decide how you’d like to buy the Ethereum.

Common methods of buying ETH include:

• Credit or Debit Cards
• Bank or Wire Transfers
• Bitcoin or other cryptocurrency
• Cash

2. Choose a Platform

Once you’ve decided which payment method you want to use, you’ll need to find a platform that supports that payment method.

There are tons of platforms to buy Ethereum on, and the easiest, by far, are exchanges and brokers like Coinbase or Coinmama.

3. Create Your Account

After you’ve chosen a platform, it’s time to create an account.

Signing up on Coinbase is really simple — it’s like making an account on Amazon!

The process of creating an account is slightly different on each platform, but for the most part it will consist of:

• Creating a Username and Password
• Protecting it with Two-Factor Authentication
• Going through a “Know Your Customer” process where your identity is confirmed
• Occasionally a waiting period before you can buy

4. Deposit Money

Now that your account is set up on your preferred platform, it’s time to deposit money.

Usually you can find this setting in the “Deposit” or “Buy/Sell” section of the platform.

5. Buy your Ethereum

With your money on deposit, its time to do what you came to do: buy Ethereum!

Chapter 2

Best Platforms for Each Payment Method

Buy Ethereum with Bank Account

There are many ways to buy Ether with a bank account – and this usually comes with the lowest fees.

Swyftx, established in 2017, aims to make crypto buying super simple for beginners with an easy to understand user interface, great guides, fast chat support, and an app for every device.

They also support over 230 trading pairs, including those with ETH, which makes buying and selling ethereum a breeze.

This is an ad. We may receive compensation when you use Swyftx. Please visit Swyftx for its exact pricing terms.

• fast chat and phone support
• Many ETH trading pairs
• multiple payment methods
• Supports automatic recurring purchases
• Instant verification

• ID verification required when depositing AUD

Swyftx, established in 2017 and targeted at New Zealand users, aims to make crypto buying super simple for beginners with an easy to understand user interface, great guides, fast chat support, and an app for every device.

They support deposits with credit card.

This is an ad. We may receive compensation when you use Swyftx. Please visit Swyftx for its exact pricing terms.

• fast chat and phone support
• Many ETH trading pairs
• multiple payment methods
• Supports automatic recurring purchases
• Instant verification

• ID verification required when depositing NZD

CoinSpot, established in 2013, is a popular Ethereum & cryptocurrency exchange based in Australia. CoinSpot provides a simple and easy to use interface with a wide selection of features. Users can deposit via POLi, PayID, BPAY, cash deposit or direct deposit.

The exchange supports Bitcoin, Ethereum, Litecoin & 100+ other coins. OTC trading is also available.

This is an ad. We may receive compensation when you use CoinSpot. Please visit CoinSpot for its exact pricing terms.

• Local exchange based in Australia
• Wide range of cryptocurrencies
• Free & instant deposits
• Supports automatic recurring purchases
• Support available 24/7

• ID verification required when depositing AUD

Established in 2013, CoinJar is the easiest way to buy, sell, store and spend digital currency. CoinJar’s iOS and Android apps allow users to trade cryptocurrencies on the go, while CoinJar Exchange and CoinJar OTC Trading Desk cater for professional traders, as well as SMSF, individuals and institutions looking to make larger transactions.

This is an ad. We may receive compensation when you use CoinJar. Please visit CoinJar for its exact pricing terms.

• Low fees at just 1%
• Clean interface makes it easy for first-time buyers
• Instant bank transfer with NPP / Osko / PayID
• Australian crypto exchange established in 2013

• Offers a Bitcoin wallet that should not be used to store bitcoins

EasyCrypto.ai is a non-custodial exchange that supports over 40 cryptocurrencies including Bitcoin, Ethereum, and XRP. They also offer a full OTC desk for Corporate and SMSF trading. Best of all is their simple 1% fees with no hidden costs added at checkout.

This is an ad. We may receive compensation when you use easycrypto.ai. Please visit easycrypto.ai for its exact pricing terms.

• Non-custodial
• low 1% fees
• Fees are easy to understand — no hidden fees

• Few payment options, but more coming later this year

bitbuy is a cryptocurrency exchange based in Canada. You can buy ethereum, litecoin, bitcoin and other coins with credit card or Interace e-Transfer for 0.75% fees, or sell for 0.5%. The exchange has good support available through its live chat, or via phone & email.

Get a $10 bonus when you buy or sell at least CAD $100. T&Cs apply.

• Fast way to buy bitcoins
• Very high buy and sell limits
• Can handle large buys through OTC desk
• Easy to use mobile app

CoinSmart is a Canadian exchange. It allows users to buy and sell Bitcoin and all major cryptocurrencies in Canada.

Customers can buy and sell bitcoin and ether using Interac e-Transfers, bank transfers, SWIFT, and credit/debit card. New users will receive $20 CAD in BTC once they deposit at least $100 CAD.

• Many payment methods accepted
• Many coins offered
• Fast verification

Netcoins is a Canadian exchange based in Vancouver. You can buy and sell Ethereum, Bitcoin, Litecoin and other major cryptocoins with Interac e-Transfer, online bill payment or wire.

They charge 0% on funding and FIAT withdrawal fees and .5% on trading. Customers receive support during business hours through live chat, email or phone call. Getting started and verified takes a couple of minutes.

New users will receive a $10 CAD bonus once they complete $100 in cumulative transactions.

• Deep liquidity with no slippage
• Instant withdrawals
• Fully audited
• Fast verification
• Great customer support
• Regulated and compliant MSB under FINTRAC

Rain is a crypto exchange focused on serving UAE, Saudi Arabia, Bahrain, Oman and Kuwait. They offer 24/7 support and meet all CCSS requirements as a crypto custodian and is licensed by the Central Bank of Bahrain as a Crypto Asset Brokerage.

This is an ad. We may receive compensation when you use Rain. Please visit Rain for its exact pricing terms.

• Middle East Exchange based in Bahrain
• Low fees
• 24/7 customer support
• Licensed by Central Bank of Bahrain

• Brokerage only — order book coming soon

Bits of Gold is an Ethereum broker in Israel. You can buy Ether and Bitcoin directly from the company with bank transfer, cash, or credit card. The fees for buying with Bits of Gold are higher than Bit2c, but it is easier to use for first-time buyers. They also operate a Bitcoin ATM in Tel Aviv which requires no identification and charges a 5% fee.

• Clean interface makes it easy for first-time buyers
• No identity verification for amounts under 1000 ILS

• Not private since identity verification is required for amounts over 1000 ILS

eToro is a trading platform and crypto exchange. It supports Ethereum and many other coins.

Deposits can be made quickly via bank transfer, credit card, SEPA, NETELLER, PayPal and more. It also offers unique features like copy trading.

This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

• Offers unique copy trading feature
• Trusted exchange that has been active in traditional finance
• Interface is clean and easy to use

• You cannot deposit cryptocurrency, but you can deposit with other payment methods

eToro USA is a trading platform based in the USA that allows you to buy Ethereum. It accepts deposits via ACH.

It offers unique features like social trading. It also supports other coins like Bitcoin, litecoin, and about 10 more.

Limited time offer: Get $50 free once you trade $1,000 worth of cryptocurrency.

Your capital is at risk.

This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

• Offers unique copy trading feature
• Trusted exchange that has been active in traditional finance
• Interface is clean and easy to use

• You cannot deposit cryptocurrency, but you can deposit with other payment methods

Bitpanda is one of Europe’s most popular and reliable Bitcoin brokers. They allow you to buy Ethereum with a credit card if you live in Europe.

You can also buy other coins such as bitcoin, litecoin, Ripple, DASH and a few more.

• One of Europes most trusted Bitcoin brokers
• Customer support is helpful and fast

• Fees are low but not displayed clearly. They are included in price

In the USA, Europe, Canada, and the UK, Coinbase is the easiest way to buy Ethereum with a credit card or debit card.

The fees will amount to 3.75% and you can buy instantly.

• Easiest and fastest way to buy Ether in the USA, Europe, UK and Canada
• Signup process is fast and website is easy to use
• Coinbase is one of the most trusted cryptocurrency exchanges

• Some reports of trouble getting answers from Coinbase support

Coinmama is a reliable Ethereum broker that has been operating since 2014. They allow customers from nearly any country to purchase ether with a credit card or debit card. Coinmama has some of the highest credit card buying limits among all credit card brokers.

The company offers excellent customer support and has very fast response times. Coinmama also supports bitcoin and litecoin.

• One of the fastest ways to buy Ether with credit card from most countries
• Trusted broker that has been around for 4+ years
• Excellent customer support

• Fees are somewhat higher than Coinbase at around 6%
• Buying with credit card is not private

Buy Ethereum with Bitcoin

You can buy Ethereum with Bitcoin at nearly any cryptocurrency exchange. This is because most of the global Ethereum trading volume is actually done in the ETH/BTC pair, and not the ETH/USD pair.

Coinbase Pro

For US customers, Coinbase Pro has some of the highest volume and is a convenient way to turn your BTC into ETH, especially if you already used Coinbase Pro or Coinbase to initially buy Bitcoin. If so, you won’t even need to create a new account. You can just immediately start trading your bitcoins into ETH.

In order to use Coinbase Pro, you have to sign up for a Coinbase account first.

Coinbase Pro had a flash crash of Ethereum a while back, but Coinbase paid everyone back for any losses.

Buy Ethereum with PayPal

Paypal has finally made it possible to buy Ethereum on the platform directly.

There are some serious limitations on Ethereum purchases in Paypal though. You cannot withdrawal the Ethereum to your own wallet and you cannot even send it to other Paypal users. It is mostly just a way to speculate on the price of Ethereum. You can only sell it back to Paypal.

If you want to buy Ethereum using Paypal but be able to withdrawal it, you can now use eToro to buy Ethereum and hold the keys, unless you live in the United States.

If you don’t live in the US, here are the steps to Buy Ethereum with Paypal on eToro (the same steps apply to Neteller and Skrill as well).

Create your account.

Select “deposit funds” on the main dashboard, and then choose your preferred payment method, entering the amount of you want to deposit.

You’ll be redirected to Paypal to login (the same if you choose Neteller or Skrill) — log in to your account.

Within a few minutes, your funds should be showing in your account and you can proceed to buy Ethereum.

If you live in the US, the only way to buy Ethereum with Paypal is to buy Bitcoin using PayPal, and then use the Bitcoins to buy Ethereum. You can easily buy Bitcoin using Paypal on Local Bitcoins. Once you have Bitcoin, you can use an exchange like Coinbase Pro to swap the Bitcoin for Ethereum.

Buy Ethereum with Cash

The best way to buy Ethereum with cash is to use Localcryptos.com. It is the same as localbitcoins.com, but with support for Litecoin and Ethereum sales.

All you have to do is input that you are looking for Ethereum, tell LocalCryptos your location, and tell it how you would like to pay (in this case, cash).

Chapter 3

Other Methods to Buy Ethereum

Ethereum Decentralized Exchanges

Decentralized Ethereum exchanges are probably the best option for you if you’re looking to swap only between coins and ERC20 tokens.

You can swap tokens without the need to actually store your coins on an exchange, which removes the chance that you will be hacked or lose your coins in any similar way.

Watch out for fake “decentralized” exchanges which are not actually decentralized.

We’ve highlighted some of the best decentralized ETH exchanges below.

Uniswap

Uniswap is one of the fastest growing and most popular DEXs on the market in 2020.

On Uniswap, users can trade between various trading pairs via Uniswap’s smart contracts without handing over their coins to centralized exchange. Instead they are deposited into the smart contract which then handles the trades.

Trading fees on Uniswap can be quite high, but these high fees encourage more users to deposit coins into the exchanges liquidity pools which brings down the fees.

What are liquidity pools?

To solve the issue of liquidity that many decentralized exchanges experience, Uniswap created liquidity pools where a user can deposit coins from each side of the trading pair and they can earn fees in exchange for the service. For instance, if I own ETH and BAT, I can deposit equal parts ETH and BAT into the ETH/BAT liquidity pool, which then helps makes other trades between ETH and BAT easier to execute.

It is worth nothing that Uniswap has experienced issues with stolen coins in some of the smart contracts, made possible by coding errors during the creation of the contracts. This is unfortunately quite common in ETH and in smart contracts generally, so it’s not at all surprising and users should beware.

ForkDelta

ForkDelta is the most popular decentralized Ethereum exchange. It allows you to trade ETH for other ERC20 tokens. So, you can’t really buy ETH if it’s your first time but if you already own some tokens it’s a nice way to exchange them for ETH.

ForkDelta is somewhat complex, so here is a good video explainer:

Note: ForkDelta is a fork of an exchange called EtherDelta. It uses the same code. But many people were having issues with Etherdelta so someone forked the code and made a new exchange.

ERC dEX

ERC dEX is a new decentralized Ethereum exchange. It has an excellent UI and makes swapping tokens in a trustless manner very easy.

ERC dEX also works well from your phone, which adds convenience to your trading. Its fees are 0.1% for maker and 0.2% for taker.

IDEX is new but has decent volume for some lesser known tokens. It’s currently doing about $8 million in volume per day, but has coins you cannot find anywhere else.

Withdraw your Ethereum

Now you have your Ethereum in your account on the platform.

Congratulations — mission accomplished!

But we really aren’t done yet.

You see, exchanges aren’t very secure. Your ETH could easily get hacked!

To prevent this, you should withdraw it at this time.

To do so, you’ll need an Ethereum Wallet.

Never store your ETH on an exchange! Instead, always withdrawal your Ethereum to an offline crypto wallet like the Ledger Nano X or any other wallet that you control.

Getting started with Ethereum wallets is a confusing process.

Luckily, we’re making it easy to decide which Ethereum wallet is best for you.

Safest ETH Wallets

Ledger Nano X

Trezor T

Ledger Nano S

The Ledger Nano X and TREZOR are the best options for secure long term storage.

Don’t Forget to Back Up Your Ethereum Wallet

The best way to backup an Ethereum wallet is to create a recovery seed. The recovery seed is a 12-24 word series of words that you input into a new wallet to retrieve coins at an address. If you lose your wallet or it gets destroyed, then you need this phrase to get your coins back.

There are some warnings to be aware of when it comes to backing up any wallet.

Anyone who knows or finds this recovery phrase can take your coins. You need to hide it somewhere other people won’t find it. That means you shouldn’t write it down on any electronic device, especially if that device connects to the internet.

You also want to protect it against fire and flood. If you lose your wallet in a natural disaster, you want the backup to be written down on something stronger than paper. This is where steel wallet backups come in.

Steel backups let you write down your seed in fire and corrosion resistant metal. You can find our top picks below:

Exchanges are not Wallets

And, just one more reminder, your exchange account–like Coinbase or Binance–is NOT a wallet! Do not leave cryptocurrency on an exchange. If you need to do so for more than a day use two-factor authentication.

Once you send to your wallet you can check the status of your payment in your wallet or by pasting the transaction ID into a block explorer like EtherScan.

Chapter 5

Frequently Asked Questions

This section will answer the most common questions about Ethereum and how to buy it.

What is Ethereum?

Ethereum is more than a cryptocurrency. It’s an open source shared world computing platform. A ‘world computer’ that allows for the decentralized verification of transactions for any Turing-viable implementation. Thanks to Ethereum, Blockchain technologies are now easy to employ without having to reinvent the wheel.

Ethereum right now uses PoW mining to secure its chain.

Ethereum vs Bitcoin

Vitalik Buterin, the creator of Ethereum, stressed that his idea was fueled by the desire to “ Avoid the swiss-army knife protocol ”. That is to say that use-case specific Blockchain solutions were expending unnecessary effort on the building of equivalent infrastructure. Here Ethereum enters the picture.

With Ethereum, Buterin created the first universal application of the principles underlying Bitcoin. Instead of using Blockchain just as a way of establishing/providing value, Ethereum offers the ability to use that technology in a Turing complete environment. Where Bitcoin implements Blockchain technology in combination with proof of work to form a currency, Ethereum’s value is derived from the ability to create universal applications.

We also see differences between the way that Ethereum and Bitcoin implemented their decentralized currency. Most notably, BTC supply has a universal cap whereas ETH supply is capped yearly at 18 million ETH but is otherwise unbound.

Ethereum vs Ethereum Classic

Ethereum and Ethereum Classic are different versions of the same Blockchain. The fork served as damage control to the issue caused by the DAO hack in 2016 and was ultimately fueled by ideological differences between early Ethereum workers. As DAO collected 150 million USD worth of ETH but almost 50 million USD in ETC were hacked, about 80% of miners decided to hard-fork the Blockchain. The other miners remained with the initial Blockchain which we now call Ethereum Classic. That is why there now are two Ethereum-based currencies that can be used to trade.

Who created Ethereum?

Ethereum was created by Vitalik Buterin, who also helped start Bitcoin Magazine.

When was Ethereum Launched?

Ethereum launched on July 30th, 2015 by Vitalik Buterin.

What is an Ethereum Wallet?

Ethereum has a standard wallet, called Mist, that is used as a gateway for developers to use ÐApps. Ethereum wallets act much like BTC wallets. You can use the tools integral to the system or use the convenience of other wallets that wrap the software in a more user friendly way.

A legal disclaimer on the Ethereum page jokingly requires you not to be a ‘jerk’ and to be responsible for your own computer security. So there is the caveat of exposing yourself (although securely) to a massive network of active computers. But that’s a risk you’re exposing yourself to anyway by using the Internet.

Other than the Mist Wallet, you can also handle Ethereum with online wallets like MyEtherWallet.com, EthereumWallet.com and EthAddress. CLI (Command Line Interface) wallets like Geth provide power-user functionality. An Ethereum hardware wallet is also an option, like Ledger’s Nano S.

When is the right time to buy Ethereum?

Like any market, it’s impossible to know the right time to buy.

One strategy you can use is dollar cost averaging. This means you split your buys over a period of time to even out in case the price rises or falls substantially.

What are the risks with buying Ethereum?

Ethereum is more volatile than Bitcoin. That makes it even more risky.

Ethereum is also a much more complicated codebase than Bitcoin’s which means there are a lot more things that could go wrong or be exploited.

What is the price of Ethereum?

Like all tradable assets, the value of Ethereum changes all the time. The value of Ethereum is also different from country to country and exchange to exchange. You can find the most up to date US price on Coinbase.

Why can buying Ethereum take so long?

The reason buying Ether can be slow is because the traditional banking system is very slow. Credit card and bank payments are all very slow and most exchanges must wait for these payments to clear before you can get your Ether.

Can you sell Ethereum?

Of course, you can use most of the exchanges mention above to sell Ether.

Can you buy partial Ethereum?

Yes, Ether is divisible to many decimal places so you don’t have to buy an entire Ether.

Can anyone buy Ethereum?

Anyone is free to use Ethereum. If you can find an exchange in your country, there is no reason you should not be able to buy.

Is it better to mine or buy Ethereum?

It depends what your goals are. Mining Ethereum has more up front costs, while buying is the fastest way to acquire some/

What is the best payment method to use when buying?

It depends what your goals are. For low fees, try a bank transfer. For privacy, you will have to buy bitcoins privately and then buy Ether on an exchange. For speed, try credit card.

What should I do with my Ether once I buy?

If you plan on storing your Ether long term, move your coins immediately to a secure Ether hardware wallet.

Best Options

Ledger Nano X

Trezor T

Ledger Nano S

For small amounts you can use any online wallet although they are less secure.

How Long Would it Take to Buy Bitcoins with Cash and then Trade for Ethereum?

It depends on how you are buying with cash.

If you have a Bitcoin ATM in your area, then the process can be very fast since once you arrive to a Bitcoin ATM your purchase is basically instant. Note that ATMs have very high fees at around 5-10%, although purchasing Ethereum with that Bitcoin can be very cheap. Also note that if you buy from an ATM you are buying in a very private way, if you care about that.

If you buy with cash using something like LocalBitcoins or Bitquick, the speed can depend on the availability of sellers in your area. Using these two sites you can buy with cash deposit in the USA and most of Europe. The fees are usually about 1%, so much lower than ATMs although sometimes less private since some buyers on LocalBitcoins may require ID, and BitQuick also requires ID verification from the start.

Do Bitcoin ATMs Support Ethereum?

Some Bitcoin ATMs do not support Ethereum, but these are somewhat rare. For the most part, Bitcoin ATM’s only let you buy (and sometimes sell) Bitcoin. The best way to check is to use our Bitcoin ATM map and then select Ethereum as your desired crypto and see if anything comes up.

What are the Benefits of Buying with Cash?

The main benefit is privacy. If you don’t care about that, then try to buy Ethereum using your bank account or credit card, where you can buy larger amounts, buy faster, and also pay less in fees than buying bitcoins with at an ATM and trading that in for Ether.

Why is Ethereum Valuable?

Ethereum is one of the most heavily debated cryptocurrencies. Some claim it’s useless and some say it will power the internet in 10 years.

No one knows. However, many people are buying Ethereum and speculating that it will turn out to be a success. No one knows what will happen in the end.

What were some of Ethereum’s biggest failures so far?

The DAO was one of Ethereum’s defining moments and set some bad precedents for its future.

About $34 million of ETH was lost in the DAO bug. The Ethereum devs decided to “fork” the ETH network to create a new network and unlock the lost funds. This is, essentially, a “bailout”.

Since Ethereum claims to have unstoppable applications, many are questioning what the point is if the developers can decide at any point to reverse transactions that they don’t like.

Issues with Parity Wallet?

Another main issue raised about Ethereum is the Parity wallet bug.

$169 million worth of ether was locked when a contract went wrong and resulted in a loss of funds. Now, once again, there is talks to bail out the money with a new “fork” of the Ethereum network.

This would be the second time the Ethereum developers have decided to reverse a transaction. This is what has many people claiming Ethereum is controlled by developers and not actually decentralized.

When will Ethereum switch to Proof of Stake?

No one really knows. Vitalik and his team are working on Eth 2.0 to make the switch, but he keeps delaying the release.

Only time will tell when the switch is made — if ever. Some think it will never happen because Ethereum is too complicated.

What are ERC20 Tokens? Are they Ethereum?

ERC20 tokens are assets that are issued on top of the Ethereum blockchain. ERC20 tokens are NOT Ethereum, but separate assets.

What is Gas in Ethereum?

Gas is essentially the equivalent of a network fee in Bitcoin. It is the fee miners charge to include your transaction in a block. Gas is denominated in gwei, which is sub-unit of ether, much like satoshis are a sub-unit of Bitcoin. One Gwei is equal to 0.000000001 ether.

Which is the best Ethereum exchange?

There is no “best” ETH exchange. You will have to research and find out which one is best for you based on your country and payment method. Some exchanges only work in the USA, for example, so you’ll have to make sure that the ETH exchange you are trying to use works in your country.

How Much Ethereum is there?

As of this writing, there are currently more than 110 million (110,000,000) Ether in existence. However that number is constantly growing.

According to Bitrates,

5 New Ether are created with each block, meaning 5 Ether are created about every 14-15 seconds. There is no cap to the Ethereum Blockchain.

Is Ethereum a Stock?

Stocks are commonly searched with reference to Ethereum. Truth is, Ethereum is not a stock. However, as it represents value based on a free-market supply-demand structure, Ethereum, just like other cryptocurrency blockchain implementations, effectively acts the same way a stock would. There is, however, an important difference to stress. Unlike stocks, Ethereum’s decentralized nature makes it less malleable by specific market forces and fluctuations, making it act more like a diversified asset. Even if Ethereum’s core team disappeared from the face of the earth, Ethereum tokens should, in principle, retain their value (at least until the lack of updates would make it fall out of date). Stocks, on the other hand, live and breathe by the company of which they hold value.

As a result, stock exchanges all over the world are introducing Ethereum into their trading options.

What is Ethereum Mining and How Does it Work?

Now that Ethereum has taking a seat as the second most dominant cryptocurrency on the market you might be wondering what it means to mine Ethereum.

Here is an overview of Ethereum mining, what it is, and what you should know to get involved (go here if you just want to buy ethereum.

Ether mining is the accruement of ETH via the validation of network transactions. More specifically, mining is the participation in the validation of transactions that take place in order to confirm all activity in the Ethereum Blockchain. This can be done on every platform meaning that it is available to home computers as well as tailored rigs. Note that it’s usually easier to get started with Unix machines than with Windows, especially when it comes to Ethereum.

The challenge in mining is to generate more money by the collection of ETH than is spent on the electricity consumed to do so. As a beginner, the best chance of generating any money by mining is by participating in a mining pool. Otherwise, even the most expensive gaming card will readily be edged out by professionals. There are multiple mining clients that can ease your way into Ether mining. Ranging from the miner provided by the core software and other CLI tools to fully fledged GUI apps that allow fine-tuning and a clear view of all mining activity.

What is Ethereum Mining Software?

Ethereum mining software is what helps you connect your Ethereum mining hardware to an Ethereum mining pool and the Ethereum network.

What’s Required Before Getting Mining Software

Ethereum mining hardware — You need strong GPUs that will allow you to mine Ethereum for a profit.

Ethereum wallet — Your Ethereum mining software will request an Ethereum wallet address to send your mining payouts. For extra security, look into an ETH hardware wallet.

Mining pool — An Ethereum mining pool allows you to share your hashrate so you can receive more frequent payouts, instead of only getting paid when you find a block.

WARNING! Be Careful When Installing Cryptocurrency Software

Be VERY careful when installing any cryptocurrency mining software.

Because there is TONS of malware that is targeted towards cryptocurrency users. Many apps that claim to be “mining” software are really just apps that are out to steal your cryptocurrency.

Quick Tip

Mining is not the fastest way to get ethereum.

Ethereum Mining Software for Windows

Hive OS

Hive OS is a dashboard available on Windows which allows miners to monitor and control all of their ASICs and GPUs from one centralized location.

Hive OS supports Bitcoin, Ethereum, Bcash, Monero and many other coins.

Ethminer

On a Windows computer, one software option is to download Ethminer.

According to the Ethminer Github, its features are:

• OpenCL mining
• Nvidia CUDA mining
• realistic benchmarking against arbitrary epoch/DAG/blocknumber
• on-GPU DAG generation (no more DAG files on disk)
• stratum mining without proxy
• OpenCL devices picking
• farm failover (getwork + stratum)

Dual Miner

Another option on Windows is Dual Miner.

Ethereum Mining Software for Mac

Hive OS

Hive OS is a dashboard which allows miners to monitor and control all of their ASICs and GPUs from one centralized location. It works on Mac.

Hive OS supports Bitcoin, Ethereum, Bcash, Monero and many other coins.

Minergate

Minergate is a good option for mining on Mac. It also easily allows you to switch to mining different cryptocurrencies and will show you which ones are the most profitable at any given time.

Ethereum Mining Software for Linux

Ethminer

Ethminer is also available on Linux.

According to the Ethminer Github, its features are:

• OpenCL mining
• Nvidia CUDA mining
• realistic benchmarking against arbitrary epoch/DAG/blocknumber
• on-GPU DAG generation (no more DAG files on disk)
• stratum mining without proxy
• OpenCL devices picking
• farm failover (getwork + stratum)

Get a Wallet

Some wallets are not updated to send transactions with the proper fee.

Our guide on the best crypto wallets features wallets with good fee estimators. Read it here!

Chapter 6

Conclusion

Buying Ethereum is easier than you might have thought.

This guide is all you need to buy ETH quickly, easily, and cheaply from reliable sources we’ve tested.

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About the Author: Jordan Tuwiner

Jordan Tuwiner is the founder of BuyBitcoinWorldwide.com. His work has been featured in The Guardian, International Business Times, Forbes, VentureBeat, CoinDesk and many other top Bitcoin media outlets. His articles are read by millions of people each year looking for the best way to buy Bitcoin and crypto in their country.

He has also written extensively about the history, technology, and business of the crypto world. Jordan is also the creator of some of the internet’s most famous Bitcoin pages, including The Quotable Satoshi and Bitcoin Obituaries.

To learn more about Jordan, see his full bio.

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