If you are interested in cryptocurrencies, then you’ll probably know that Ether, the native token of the Ethereum platform, is the second-largest coin worldwide today, behind Bitcoin, the original and first cryptocurrency. If you are interested in investing in crypto then ETH is certainly a coin worth considering buying. With more functionality behind it compared to other cryptocurrencies, and the token behind the increasingly popular NFTs or non-fungible tokens, Ethereum and ETH are only set to get bigger and bigger as time goes on. The easiest way to invest in Ether is through a cryptocurrency exchange. Keep reading to find out more about how.
Find the Right Exchange for You
With cryptocurrency growing rapidly, there are now several exchange options that you can choose from if you are interested in buying digital coins. Before you invest in ETH, the first step is to research crypto exchanges to find one that meets your needs. There are several exchanges that are ideal for beginners, which you may want to consider if you are completely new to the scene. You can use OKX.com to track ETH prices, learn more about cryptocurrencies, and invest in digital coins.
Sign Up and Be Verified
Any reputable cryptocurrency exchange will have you go through Know Your Customer (KYC) anti-terrorism and anti-money laundering checks before you can become a member and start investing in cryptocurrencies. This is usually a fairly quick process in which you will need to upload a copy of your identification to be verified. Depending on the exchange you use, it could be done instantly or take a couple of days.
Deposit Fiat Currency
Before you can get started with purchasing ETH and other cryptocurrencies, you will usually be required to deposit a fiat currency into the exchange. A fiat currency refers to a regular currency that is kept in the back and regulated by the government, such as dollars and pounds. You will usually be able to do this using a payment method that you are familiar with, such as a debit or credit card, or a bank transfer payment.
Set Up a Wallet
It’s a good idea to set up a separate crypto wallet before you start purchasing digital coins. You can either set up a software or a hardware wallet. Both have their advantages and disadvantages, and with several options available some are more beginner-friendly than others, so it’s worth taking some time to research what’s out there and find the right option for you.
Purchase ETH
Once you’ve done all of the above, it’s time to buy ETH for the first time. To do this, all you need to do is select it in your chosen cryptocurrency exchange, choose how much you would like to buy and follow the process. Once you have purchased the coins, you will either be able to keep them stored on your chosen exchange or move them to your software or hardware wallet for safer storage.
ETH is an excellent investment if you are looking to purchase cryptocurrency for the first time. Using a good crypto exchange is usually the easiest and most secure way to make the investment.