facebookgoogle-plushamburgerlinkedintwitter

A beginner’s guide to Ethereum and how to buy it

Ethereum is an open source blockchain platform from where you can mine the ‘Ethereum’ cryptocurrency. First released in July 2015, Ethereum has now become one of the most traded cryptocurrencies, its value is just behind that of Bitcoin. Ethereum is a distributed digital public blockchain network, where  miners work to earn Ether, a token currency which is also used for paying transaction fees and services on the distributed network of Ethereum.

Ethereum can be purchased directly from a Cryptocurrency Exchange Platform like Evonax. You can Exchange Ethereum for fiat currencies like US Dollars on Evonax. You can buy Ethereum easily from any of the thousands of participants across the world who  trade in Ethereum without middlemen.(Please note that here ‘Ether’ and ‘Ethereum’ are used interchangeably).

All transactions on Ethereum are final and cannot be muted.  All the transactions done till date on Ethereum are stored in many different computers all around the world. If any one fails there is no chance that any data will get lost. The blockchain too is distributed and thus there is no chance of it failing or it being shut down.

The value of Ethers started at less than a Dollar when it was launched in July 2015. Since then, its value has skyrocketed  gaining a lot of interest from people all around the world.

To understand why Ethereum has appreciated so much, you need to understand the unique benefits that Ethereum brings to us that has caught the imagination of a broad range of investors- from Venture Capitalists to regular hobbyists.

Buying Ethereum

You can buy Ethereum through Evonax using these simple steps-

1.      You can buy Ethereum easily on Evonax even without registering. All you need to do is to punch in all your details on the exchange and you can then proceed to the next step.

2.       You might need to do an identity check prior to withdrawal and/or depositing to your Evonex cryptocurrency exchange account.

3.      You can then deposit your fiat money into the exchange with the help of bank wire transfers, SEPA or debit/credit card transactions.

4.      The deposits usually happen instantly or within 30 minutes from the time you transfer the money to your exchange account.

5.      Once the money reflects in your exchange account, you can then use it to purchase Ether. Evonex has a very simple format for you to follow. Even beginners will be able to buy Ethereum easily with Evonex.

Although it may seem tough at first, buying cryptocurrencies is no rocket science. It can be done easily by anybody, whoever wants to be a part of the great potential that currencies like Ethereum have for investing their hard earned money. With the passage of time, decentralised currencies like Ethereum are going to be competitors to traditional investing options like the stock market and commodities. With its value appreciating regularly, the popularity of Ethereum as a investment opportunity is soon to grow in the future.

Read More Information: Why are Major Crypto Exchange Firms Optimistic Towards Ethereum Coin?