Guide to buy Ethereum safely

If at any time it has crossed your mind to enter the world of cryptocurrencies, but you have never known how to start, here we bring you an guide to buying Ethereum, the trendy cryptocurrency at the moment.

But before starting to explain how to invest your money in a virtual currency, we are going to explain a very important point for this task, and your first investment in the world of cryptocurrencies.

What is Ethereum?

It is a decentralized platform that is based on blockchain technology –yes, the same one on which BitCoin is based– created by Vitalik Buterin.

El Ether It is the name given to the currency of the Ethereum platform and has had significant growth in a very short time. The currency started trading around $1 and has already surpassed the $800 barrier. Without a doubt it is incredible growth.

It must be taken into account that Ethereum, like any other virtual currency, It is very volatile. In the same way that it is worth hundreds of dollars now, it can become worth $0, so Don't invest more money than you are willing to lose. You can win a lot, but you can also lose everything. Be warned!

How to buy Ethereum

The purchasing process is really simple. You can buy Ethereum from many different platforms, after all It is one of the most important cryptocurrencies, although we are going to see how to make the purchase in Coinbase, one of the most popular wallets in the world.

Coinbase requests some requirements to be part of its platform. You must be of legal age and you must reside in Europe, Asia, North America or Australia. If you meet these requirements you can proceed to create an account on Coinbase.

Access the website of Coinbase
Click the Sign Up button
Fill out the information requested by the platform: name and surname, email and password.
Verify your identity. You can do it with your passport, driving license or ID.

That is all the information that the platform requests to register. It must be taken into account that you will have to use your webcam to photograph the document with which you are going to verify your identity, so try to have one available and carry out the registration at a time with good light.

The next step will be register and verify a phone number. To do so you will have to go to Settings ->Security and click on +Verify A Phone. You just have to write your mobile number and add the code that you will receive by SMS to confirm it.

With the access data and the verified account, the following will be add a payment method. This is used to deposit money into the account to later purchase Ethereum. There are three different payment methods:

Bank account: Through SEPA transfers you can move money from your bank account to your Coinbase account

Bank deposit: A normal bank deposit, depositing money from your account into the wallet.

Credit or debit card: You can make cryptocurrency purchases on Coinbase by paying with your card.

To add a payment method you have to go to Settings -> Payment Methods -> Add Payment Method and indicate the information requested for the payment method you want to add to your account. When you add it you will have to verify it. To do this you will have to send money to a specific account number, you can send the minimum amount of money that your bank allows.

Buy Ethereum on Coinbase

Now that we have set up the virtual wallet we can start buying Ethereum. As? On the main page of the platform you can find different links. You have to click on Buy / Sell to access the purchase section.

Make sure you are on the tab Buy (buy) and select the Ethereum currency. Then choose your payment method and indicate the amount you want to spend on the currency, or how much ETH you want to purchase.

When you have selected the quantity to buy you will have to click on Buy Ethereum instantly. That's all! You have already made your first Ethereum purchase. If you want to sell the currency you will have to go to the tab sell and there indicate the currency to be sold and the amount.