While Bitcoin has shown exceptional growth, it is closely followed by other popular cryptocurrency alternatives, such as Ethereum. Ethereum, and its token, Ether, offer a couple of fascinating features that could see the platform becoming a better transaction medium than other cryptocurrency options. So, how can you buy Ethereum? Below, we look at a couple of different options.
- Buying on an Exchange
If you’re wondering how to buy Ethereum in Australia safely, the good news is that it is simple. One of the easiest ways to buy your very first Ether is via an exchange platform. The platform does all the hard work for you, such as checking prices and even making the actual transactions. While Ether differs from Bitcoin in several ways, using an exchange is exactly the same.
There are tens of popular platforms out there, though, so which one should you choose? The best way to go about it is to pick an insured and reputable exchange that offers full support for Ether trading.
Once you’ve chosen an exchange, you’ll need to sign up to it, verify your identity, and transfer funds. Once you’ve done all that, you can make your purchase. Some sites do offer more options than others, but mostly, you decide how much Ether to buy and click that “Buy” button.
Your investment funds are then deducted from your account or e-wallet and the Ether is transferred into your wallet. The trade may not be immediate, so if the cryptocurrency doesn’t show right away, do give it some time before worrying.
- Buying Via Direct Trade
If using an exchange platform sounds a little too complicated, or you want to have more say in where your investment comes from, consider using peer-to-peer or direct trade sites. These sites allow you to set up a trade with a seller. However, you must be present at the time of the trade so that you can do the transaction yourself. The transactions are easy enough, but just remember to double check all the details before finalising any transaction.
There’s another benefit to using direct trades and that’s that you don’t have to use your bank account. In most cases, you can use Amazon gift cards or even PayPal. If you already own some Bitcoin and you want to buy Ether with it, you can do that, too.
Once you’ve decide which site to use for a direct trade, head over to the homepage and look through the offers that are available. You’ll find different people form different parts of the globe, so you can filter the results by payment method or location to find the best deal for you. Be sure to check the numbers against active rates and then click that “Buy” button.
You’ll then have to create an account on the direct trade website to complete the purchase. Fortunately, it’s a straight forward purchase that doesn’t often require verification. You can then enter the encrypted discussion with your chosen seller to find out the terms of the purchase. Once you’re satisfied, the seller will transfer the cryptocurrency into an escrow account and you can make payment so that the Ether is released into your preferred wallet.
Overall, buying Ethereum is quick and easy!