How much money do i need to buy ethereum

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Buying Ethereum involves converting your U. People who own Ethereum can use it as payment for goods and services, or to cover fees for the processing power used to carry out complex transactions in fields such as finance, art and computer science. Many owners of Ethereum have also used it as an investment vehicle in recent years amid a rush of interest in the crypto space.

Ethereum hit an all-time high late in , and it has been gaining on Bitcoin in terms of global market capitalization. But before you make any decisions, remember that cryptocurrency can be a risky asset whose market value can fluctuate significantly. Here are some pointers on how to buy Ethereum — and some factors to consider before you do. How to buy Ethereum There are three major steps that most people take in buying Ethereum: Choose a cryptocurrency exchange.

Store your Ethereum. Choose a cryptocurrency exchange Because Ethereum is one of the most widely-circulated cryptocurrencies, you have many options in selecting where to buy it. This decision will affect the choices available to you for payment and storage, however, so you should do your homework. There are several types of exchanges and marketplaces you can consider. Online stock brokers: Buying cryptocurrency from an online brokerage that offers it is one of the easiest ways, but it can come with serious drawbacks.

While online brokers have made it easy and cheap to turn your cash into crypto and vice versa, check the fine print to see if the brokerage lets you move cryptocurrency in and out of the account — some brokers don't. In the eyes of crypto purists, this essentially nullifies the entire point of owning a digital currency. Centralized crypto exchanges: These are a common way for people to buy cryptocurrency. Centralized exchanges such as Coinbase act as middlemen in the buying and selling of cryptocurrencies, and tend to have larger selections than platforms that primarily deal in conventional assets such as stock.

These can be a good choice if you're somewhat familiar with cryptocurrency, but are looking for a user-friendly experience. Some people, on the other hand, might feel that a centralized broker is contrary to the spirit of blockchain technology, which is supposed to be decentralized. Decentralized exchanges: In a sense, a decentralized exchange, or DEX is the truest way to trade cryptocurrencies in that there is no third party whatsoever.

Centralized exchanges require you to deposit the coins or dollars you want to trade on the market into a trading account. But with DEXs, you retain full control over your funds and trade directly with a buyer or seller. However, DEXs can be confusing to navigate and are mostly used for trading one cryptocurrency for another, rather than buying ETH with cash.

Best cryptocurrency exchanges Decide how to pay Depending on whether you already own cryptocurrency and are willing to part with it, you can decide to either pay with U. Fiat currency: Like most things in the world, you can buy cryptocurrency with traditional fiat currency such as U.

On some exchanges, this is your only option. And if you don't already own cryptocurrency, you're going to have to use cash at some point. If you're using a centralized exchange, you will likely have to fund your account using a bank transfer, a credit card or a debit card, and these transactions can incur fees on some platforms. Using one of these simplified platforms will mean your crypto can only be traded within the platform you buy it on.

Fund Your Account Before you can buy Ethereum through a crypto exchange, you have to fund your account. You can also generally complete wire transfers, use a debit card or deposit money from PayPal. For example, wire transfers are free on Gemini, but the platform charges a 3.

One warning: Some platforms allow you to buy cryptocurrency using a credit card. While that may seem tempting, credit card companies generally consider cryptocurrency purchases to be cash advances. ET, and the exchange is closed on weekends and certain holidays.

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