How To Buy Ethereum

Here's how to buy ethereum: Via @ForbesAdvisor

7/29/2021 4:04:00 AM

Here's how to buy ethereum: Via ForbesAdvisor

While Bitcoin is the top cryptocurrency based on the value of its coins in circulation, Ethereum is no slouch. With a market capitalization of over $232 billion, it’s the second leading form of cryptocurrency and has support from business leaders like Mark Cuban. What’s more, it’s been a profitable investment choice. If you invested $1,000 […]

are 9:30 a.m. until 4:00 p.m. ET, and the exchange is closed on weekends and certain holidays.Cryptocurrencies like Ethereum work very differently: Because they’re decentralized currencies, you can buy and sell them around the clock.To purchase Ethereum, enter its ticker symbol—ETH—in your exchange’s “buy” field and input the amount you want to buy. If you don’t want to buy a whole Ethereum token or don’t have enough money in your account for a full coin, you can purchase a fraction of one. For example, if the price of Ethereum is $2,000 and you invest $100, you will purchase 5% of an Ether coin. This is just like when you purchase a

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of a stock.5. Store Your EthereumAfter your purchase of Ethereum has been processed, you have to store your cryptocurrency. While some platforms will store it for you, some people opt to store their investments themselves to reduce the likelihood they will lose their crypto to a hack. This is understandable, but it’s also important to note that most major exchanges do insure their clients’ holdings and often store the majority of their assets offline to prevent massive theft. What’s more, historically exchanges that have been hacked have reimbursed any losses.

But if you want peace of mind surrounding your crypto, you can choose to move it to one of two types of third-party wallets:Hot Wallet:A hot wallet is connected to the internet and can be accessed from a computer or smartphone. They’re convenient and are usually provided by cryptocurrency exchange platforms at no additional cost, though you can also use your own if you’d prefer having your crypto off of the exchange. However, because they’re still connected to the internet, they’re at a higher risk of security breaches.

Cold Wallet:Cold wallets, meanwhile, are external devices completely disconnected from the internet. Depending on the type you choose, they usually cost between $50 and $200, though there are even more expensive versions available. While cold wallets are less convenient than hot wallets—you have to manually connect them to the internet each time you want to access your crypto—they’re safer and may make sense if you own a significant amount of Ethereum or other cryptocurrencies.

Selling EthereumTo sell your Ethereum, simply head back to your crypto exchange and enter the amount you want to sell. Read more: Forbes »

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