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Published On: Tue, Dec 18th, 2018

Best ways to buy major cryptocurrencies like Ethereum and Bitcoin

Introduction

The world of cryptocurrencies is regarded as a bubble. But still, there is a rise in the number of people interested in them due to the volatile nature of these cryptos. The fact that the BTC rate had nearly reached USD 20000 in 2017 turned heads towards cryptocurrencies. Thereby many more cryptocurrencies and altcoins were introduced with the anticipation of creating a revolution in the world through their own innovative ideas using blockchain technology. Different creative ideas of the purpose of these cryptocurrencies create interest in the minds of the people to be indulged in them. If you are one of them who would like to buy major cryptocurrencies like Ethereum, Bitcoin and the likes then read on below to find the different ways of buying them.

photo/ The World Spectrum

Highlighting the purpose of Ethereum and Bitcoin

Ethereum is a network which allows its users to use Ether as a cryptocurrency as well as provides room for developing a decentralized application and smart contracts. Whereas Bitcoin is a digital currency which helps in peer-to-peer transactions in a decentralized manner without any centralized authority taking the power. 

Interested people can buy major cryptocurrencies including Ethereum and Bitcoin through the following ways:

Cryptocurrency exchanges: There are a number of fraudulent crypto exchanges one has to be aware of. Make proper research about a crypto exchange and then proceed with buying cryptocurrencies like Bitcoin and Ethereum. Cryptocurrency exchanges like Coinbase, ShapeShift, Changelly, Bittrex and Bitffinex are some of the leading exchanges through which Bitcoin and Ethereum can be bought. The transaction fees in these exchanges may vary between 0.1%-0.2%. If the transaction fee if more than this then it is not advisable to buy from such sites. These exchanges offer real-time price of cryptos which can be used to understand the Ethereum to Bitcoin exchange rate. 

Cryptocurrency exchanges allow you to buy BTC or ETH for the exchange of other cryptocurrencies if you have any like you can buy Bitcoin with Ethereum or buy BTC with XMR and so on. If you are a first-time investor then you can buy Ethereum instantly with credit card in any of these crypto exchanges. 

Even fiat currencies like US Dollars, Yen and Euros can be used to buy Bitcoin, Bitcoin Cash, Litecoin, ZCash, Dash and Ethereum. Wire transfers and debit cards can be used to buy cryptocurrencies by producing a valid document for proof of identity.

Buy Ethereum and Bitcoin with ATMs: With the advancement in technology ATMs for buying Bitcoin and Etheruem are established in select locations. If you can find an ATM near your locality for buying cryptocurrencies then you can definitely go ahead with them. This is the most convenient method of buying Bitcoin and Ethereum as it supports cash and debit card for buying cryptos. However, since the rates in ATMs are generally 10-15% higher than the market value you can opt for crypto exchanges if you do not need Bitcoins instantly.

Opting Cash exchanges: There are many exchanges like LocalBitcoins.com where the holder of the Bitcoins intends to sell their cryptos for cash with other parties on a peer-to-peer format. This method of buying Bitcoins can be adopted if you do not wish to keep your transactions anonymous. 

Conclusion

As you can see there are many methods of buying Bitcoins and Ethereum choose the one that suits your need the most. Crypto experts, however, recommend using trusted exchanges for buying cryptocurrencies over any other format for better security purpose.

Author: Vijay Chinni

On the DISPATCH: Headlines  Local  Opinion

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